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Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund
Technology

Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund

Register now for FREE unlimited access to Reuters.comRegisterDUBAI, Sept 1 (Reuters) - Luxembourg-based OQ Technology, a global 5G internet of things satellite operator, has raised 13 million euros ($13.05 million) in its Series A funding round co-led by Saudi Aramco's Wa'ed Ventures and Greece's Phaistos Investment Fund, according to a joint statement on Thursday.It is Wa'ed's first investment overseas, since it expanded its mandate to pursue global tech startups looking to localise their products and solutions in Saudi Arabia.Wa'ed is the entrepreneurial venture capital arm of the kingdom's state oil giant. Phaistos Investment Fund focuses on investment in 5G-related products and services and managed by 5G Ventures, a venture capital firm based in Athens.Register now for FREE unlimite...
Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group
Health

Australia’s Ramsay Health gets ‘inferior’ alternate offer from KKR-led group

Aug 25 (Reuters) - Australia's Ramsay Health Care Ltd (RHC.AX) said on Thursday it received a "meaningfully inferior" alternate proposal from a group led by KKR & Co (KKR.N) that would allow it to retain a 37% stake in its Paris-based unit Ramsay Generale De Sante (GDSF.PA).Ramsay currently owns over 52% shares in the Paris-based Ramsay Generale De Sante (Ramsay Sante). If accepted, the alternate offer would give the consortium a 15% stake in the hospital operator, while Ramsay shareholders would retain the balance. read more In April, the consortium comprising of private equity giant KKR and Australian pension fund HESTA, among others, made a cash offer of A$88.0 per share - valuing it at around $15 billion - and had been allowed due diligence on a non-exclusive basis.Register now...
Lift-maker Otis agrees to sell Russia business to local investment firm
Business

Lift-maker Otis agrees to sell Russia business to local investment firm

This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, July 27 (Reuters) - Lift-maker Otis Worldwide Corp (OTIS.N) said on Wednesday it had agreed to sell its Otis Russia business to Russia-based investment company Ice Development."After carefully considering the global impacts and consequences of the ongoing crisis and humanitarian tragedy across Eastern Europe, including supply chain disruptions and mounting regulations, we determined that Otis' ownership of our business in Russia is no longer sustainable," Otis said in a statement.Scores of companies have opted to exit Russia or announced plans to do so since Moscow sent tens of thousands of troops into Ukraine on Feb. 24.Register now for FREE unlimited access to Reuters....