SINGAPORE, Aug 26 (Reuters) – Southeast Asian-focused private equity firm Dymon Asia said Friday it is buying RAM SMAG Lifting Technologies Pte, the Singapore arm of German lifting equipment maker Salzgitter Maschinenbau Group (SMAG). Ltd.
However, the parties did not disclose the financial details of the deal in a joint statement.
The acquisition marks Singapore-based Dymon Asia’s first cross-regional deal since its inception in 2012, and is linked to a surge in container traffic around the world due to supply chain disruptions and congested ports.
RAM SMAG Lifting, better known as RAM Spreaders, manufactures spreaders for the maritime container handling equipment market. The report said the company, founded in 1972, operates in 11 countries and has manufacturing facilities in China.
Dymon Asia includes Dymon Asia Private Equity (SE Asia) Fund with over S$300m ($215.78m) capital commitments and Dymon Asia Private Equity (SE Asia) Fund II with $450m, said in a statement .
Portugal’s largest utility company EDP’s renewable energy division is in talks to sell electricity directly to Japanese and South Korean companies to spur growth in Asia, a departure from its traditional contracts with state-owned enterprises, the official said.
Spanish energy company Repsol plans to sell a 49% stake in wind and solar farms in Spain, El Confidencial said Wednesday, citing unnamed industry sources.
Reuters, the news and media arm of Thomson Reuters, is the world’s largest multimedia news provider serving billions of people around the world every day. Reuters delivers business, financial, national and international news via desktop terminals, global media organizations, industry events and directly to consumers.
Build the strongest arguments with authoritative content, legal editor expertise, and industry-defining technology.
The most comprehensive solution to manage all your complex and growing tax and compliance needs.
Access unparalleled financial data, news, and content in customizable workflows across desktop, web, and mobile.
View an unrivaled mix of real-time and historical market data, as well as insights from global sources and experts.
Screen high-risk individuals and organizations around the world to uncover hidden risks in business relationships and networks.
Post time: May-24-2023