A consortium of investors completes the acquisition of Aligned Data Centers from GEM Realty Capital for $40bn.

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AMERICAS

Intersnack to acquire Utz Brands for $2.9bn.

Intersnack, a European salty snack manufacturer, agreed to acquire Utz Brands, an American snack food company, for $2.9bn, according to press releases.

Intersnack is advised by Bank of America and Skadden Arps Slate Meagher & Flom. Debt financing is provided by Bank of America. Utz Brands is advised by Citigroup, RBC Capital Markets, Sidley Austin and Joele Frank (led by Jed Repko). The Rice and Lissette family is advised by Sageworth and Cozen O'Connor, according to press releases.

Columbia Financial completes the acquisition of Northfield Bancorp for $580m.

Columbia Financial, the bank holding company for Columbia Bank, a community-oriented financial institution primarily serving New Jersey, completed the acquisition of Northfield Bancorp, the holding company for Northfield Bank, a community-focused financial institution, for $580m, according to press releases.

Columbia Financial was advised by Keefe Bruyette & Woods (led by Robin Suskind and Joseph Moeller), Kilpatrick Townsend (led by Stephen F. Donahoe and Christina M. Gattuso) and RP Financial. The financial advisor was advised by Nutter McClennen & Fish. Northfield Bancorp was advised by Luse Gorman (led by Scott A. Brown) and Raymond James (led by Bob Hutchinson), according to press releases and MergerLinks data.

MasTec completes the acquisition of The Superior Group for $1.65bn.

MasTec, a North American infrastructure engineering and construction company, completed the acquisition of The Superior Group, a premier full-service electrical contractor focused on critical infrastructure, for $1.65bn, according to press releases.

MasTec was advised by Lazard, Fried Frank Harris Shriver & Jacobson and Holland & Knight. The Superior Group was advised by UBS and Paul Weiss Rifkind Wharton & Garrison (led by Dotun Obadina and James E. Langston), according to press releases and MergerLinks data.

Mavis to acquire Pep Boys from Icahn Enterprises for $700m.

Mavis Tire Express Services, an independent tire and vehicle service providers, agreed to acquire Pep Boys, a US automotive services company, from Icahn Enterprises, a diversified holding company, for $700m, according to press releases.

Icahn is advised by Jefferies & Company, Brown Rudnick, Bullard Law Group, Covington & Burling and C Street Advisory, according to press releases and MergerLinks data.

Cardinal Health to acquire the diabetes health business of AdaptHealth for $235m.

Cardinal Health, an integrated healthcare services and products company, agreed to acquire the diabetes health business of AdaptHealth, a provider of healthcare-at-home solutions including home medical equipment, medical supplies, and related services, for $235m, according to press releases.

Cardinal Health is advised by JP Morgan, DLA Piper and Skadden Arps Slate Meagher & Flom. AdaptHealth is advised by Deutsche Bank and Reed Smith, according to press releases.

Greenbelt Capital Management completes the acquisition of a majority stake in Bowe & Gant.

Greenbelt Capital Management, a private equity firm, completed the acquisition of a majority stake in Bowe & Gant, a US electrical and energy infrastructure services provider, according to press releases. Financial terms were not disclosed.

Bowe & Gant was advised by William Blair & Co and Alston & Bird. Greenbelt Capital Management was advised by Weil Gotshal and Manges and Llorente Y Cuenca (LLYC), according to press releases and MergerLinks data.

ITE Management completes the acquisition of NACPC.

ITE Management, an alternative asset manager, completed the acquisition of North American Chassis Pool Cooperative, a provider of premium chassis serving major intermodal markets, according to press releases. Financial terms were not disclosed.

NACPC was advised by Butler Snow. ITE Management was advised by SMG Securities and Willkie Farr & Gallagher, according to press releases and MergerLinks data.

Centuri completes the acquisition of JJ White.

Centuri, a strategic infrastructure services company, completed the acquisition of JJ White, a provider of mechanical and electrical construction services across power generation, data centers, and industrial end markets, according to press releases. Financial terms were not disclosed.

Centuri was advised by Seale & Associates and Foley & Lardner, according to press releases.

Paramount-Warner Bros. judge pauses deal amid antitrust concerns. (Bloomberg)

A US federal judge has temporarily paused Paramount Skydance’s proposed $110bn acquisition of Warner Bros. Discovery, citing concerns that the transaction may violate antitrust laws.

The court ordered the companies not to complete the merger for 14 days, delaying plans to close the transaction later this month while legal challenges to the deal are reviewed.

Lionheart closes in on $400m Venezuela oil field deal. (Bloomberg)

Lionheart Capital is nearing an agreement to acquire a stake in a Venezuelan oil field in a transaction valued at approximately $400m.

The investment would represent one of the first major private‑sector commitments to Venezuela’s oil industry following the easing of certain US sanctions and could increase foreign participation in the country’s energy sector.

Gold miner Cadillac, backers seek $258m in Canada IPO. (Bloomberg)

Cadillac Mines and certain existing shareholders are seeking to raise up to CAD363m ($258m) through an initial public offering, as activity in Canada’s mining-focused equity markets continues to recover.

The Toronto‑based mineral exploration company expects to raise approximately CAD190m ($135m) in gross proceeds from the offering, while selling shareholders are seeking about CAD173m ($123m) through the secondary component of the transaction.

US-based Axiom seeks Hong Kong IPO to tap China’s biotech boom. (Bloomberg)

Axiom Biosciences is considering an initial public offering in Hong Kong, an uncommon route for a US biotechnology company seeking access to Asian capital markets.

The San Diego‑based company is targeting a listing in 2027 to fund clinical development of its lead stem‑cell therapy for neurological diseases. Axiom is also exploring partnerships with Chinese companies and plans to conduct clinical work in China as part of its growth strategy.

GoldenTree announces closing of oversubscribed Private Credit Fund II. (Press Release)

GoldenTree Asset Management has closed its Private Credit Fund II at its hard cap of $2.75bn, reflecting strong demand from institutional and private investors across multiple regions.

The fund focuses on private credit investments in larger companies and has already deployed a significant portion of its committed capital across a diversified portfolio of investments spanning multiple industries.

Cardiovascular Logistics appoints Ben Griffith as chief legal officer. (Press Release)

Cardiovascular Logistics (CVL) has appointed Ben Griffith as chief legal officer, responsible for overseeing legal, regulatory and transactional matters across the company and its affiliated physician practices.

Griffith previously served as president of The Specialty Alliance, where he led mergers and acquisitions and other corporate functions. He also played a role in the company’s recapitalization and subsequent sale to Cardinal Health.

EMEA

CD&R-owned OCS Group to acquire Mitie Group for £3.1bn.

CD&R-owned OCS Group, an integrated facilities management company, agreed to acquire Mitie Group, an outsourcing and facilities management company, for £3.1bn, according to press releases.

OCS is advised by Barclays (led by Richard Probert), Lazard (led by Louise Campbell and Vasco Litchfield), RBC Capital Markets (led by Mark Preston and Graham Tufts), Debevoise & Plimpton and Weil Gotshal and Manges. Mitie is advised by Peel Hunt (led by Mike Bell), Ardea Partners (led by Simon Lyons and Glen Earle), Linklaters and H/Advisors (led by Neil Bennett), according to press releases.

Apax Partners to acquire techoraco and Institutional Investor from Delinian.

Apax Partners, a private equity firm, agreed to acquire techoraco, a digital infrastructure events platform, and Institutional Investor, a global capital introduction and intelligence platform, from Delinian, a UK portfolio company owner focused on specialist data, insights and events businesses, according to press releases. Financial terms were not disclosed.

Apax Partners is advised by Plural Strategy Group, Ernst & Young, Raymond James and Simpson Thacher & Bartlett (led by James Howe and Chris Vallance). Delinian is advised by Oliver Wyman, BrightTower (led by Sam Barthelme), Ernst & Young, Foot Anstey and Seward & Kissel, according to press releases and MergerLinks data.

Vår Energi to acquire BlueNord for $1.33bn.

Vår Energi, an independent upstream oil and gas company on the Norwegian continental shelf, agreed to acquire BlueNord, a European oil and gas company in the Danish North Sea, for $1.33bn, according to press releases.

Vår Energi is advised by Barclays, SB1 Markets, Schjodt and KPMG. BlueNord is advised by Jefferies & Company, Standard Chartered Bank, BAHR and Gorrissen Federspiel, according to press releases.

Bain Capital to acquire SupplyOn from AUMOVIO, Bosch, Schaeffler and ZF.

Bain Capital, a private equity firm, agreed to acquire SupplyOn, a cloud-based supply chain collaboration platform, from industrial and automotive technology groups AUMOVIO, Bosch, Schaeffler and ZF, according to press releases. Financial terms were not disclosed.

Bain Capital is advised by Kirkland & Ellis (led by Jacob Traff and Maximilian Liegl), according to press releases.

OTP Bank to acquire Luminor.

OTP Bank, a Hungarian commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, agreed to acquire Luminor, a Baltic bank and financial services provider, according to press releases. Financial terms were not disclosed.

OTP Bank is advised by Citigroup, according to MergerLinks data.

UK's IP Group rebuffs Railpen's revised 71.3 pence proposal. (Reuters)

IP Group has rejected a revised takeover proposal from its largest shareholder, Railpen, stating that the offer significantly undervalues the company and its future prospects.

The revised proposal valued the London‑listed science and technology investment firm at about £630m ($845m), excluding a contingent payment component that could have increased the total consideration to approximately £730m ($982m).

KKR, Vauban among final contenders to buy Portugal’s DStelecom. (Bloomberg)

KKR and Vauban Infrastructure Partners are competing to acquire a majority stake in Portuguese fiber‑network operator DStelecom.

The bidders are among the parties shortlisted for the stake held by Cube Infrastructure Managers. DStelecom could be valued at approximately €300m ($343m) to €400m ($457m) in a potential transaction.

Russian steel magnate sells shipping firm operating in Sea of Azov. (Reuters)

Russian businessman Vladimir Lisin has sold Volga Shipping, a cargo transport company operating in the Sea of Azov, to agricultural logistics group Demetra. The transaction was agreed before recent disruptions to commercial shipping in the region.

Volga Shipping transports grain, metals and coal through the Volga and Don river systems to the Sea of Azov and the Black Sea, handling more than 15m tonnes of cargo annually. Financial terms of the transaction were not disclosed.

UK's BT Group shareholder sells substantial position in $224m offering. (Reuters)

A shareholder has launched a secondary sale of approximately 85m BT shares through an accelerated bookbuild, representing a stake of about 1% in the UK telecommunications group.

The offering is valued at roughly £167m ($224m) and does not involve the issuance of new shares, meaning BT will not receive any proceeds. Shares in BT closed 0.6% lower on the day.

Metro Bank eyes £2bn merger with rival challenger bank Aldermore. (Sky News)

Metro Bank is exploring a potential £2bn ($2.6bn) merger with Aldermore as it evaluates strategic expansion opportunities in the UK banking sector.

The discussions are at an early stage, with Metro Bank considering a possible offer for Aldermore, a specialist lender focused on mortgages and business banking. No formal proposal has been made.

UK's Frasers boosts Hugo Boss stake over 30% mandatory bid threshold. (Reuters)

Frasers Group has increased its stake in Hugo Boss to approximately 30.28%, exceeding the threshold that triggers a mandatory takeover offer under German regulations.

The retailer acquired an additional 2.55m shares in Hugo Boss following its earlier takeover proposal of €38 ($43.42) per share, valuing the fashion group at about €2bn ($2.29bn). The offer remains open, with the current acceptance period running until July 27.

Carlyle in talks to hand ESG consulting firm over to Bridgepoint. (Bloomberg)

Carlyle Group is in discussions to transfer ownership of sustainability consultancy Anthesis Group to private credit investor Bridgepoint Credit.

Carlyle acquired a majority stake in Anthesis in 2023 in a transaction that valued the London‑based business at approximately £400m ($538m). Bridgepoint Credit provided financing for that acquisition and is now in talks regarding a potential lender‑led ownership transition.

Turkish Airlines exploring acquisitions in Asia, South America. (Bloomberg)

Turkish Airlines is exploring additional acquisition opportunities as part of its strategy to expand its international presence.

The carrier indicated it is evaluating potential investments across Asia, Europe and Latin America following its agreement last year to acquire a minority stake in Spanish airline Air Europa.

Partners Group closes fourth direct infrastructure program at over $15bn. (Press Release)

Partners Group has held the final close of its fourth direct infrastructure programme with more than $15bn in commitments, making it substantially larger than its predecessor vehicle.

The programme will invest in energy, utilities and other infrastructure assets through a combination of a closed‑ended fund and related co‑investment structures. The strategy remains focused on mid‑market infrastructure opportunities and platform development.

APAC

Natixis-backed Mirova completes an $171m investment in Yanara.

Natixis-backed Mirova, a global asset management company, completed an $171m investment in Yanara, a renewable energy firm, according to press releases.

Yanara was advised by Ernst & Young. Mirova was advised by Lazard, Ashurst Perkins Coie, Loyens & Loeff, Van Doorne, White & Case, Alvarez & Marsal, H/Advisors and Steele and Holt, according to press releases and MergerLinks data.

A consortium of investors led a $1.2bn Series A round in Ant International.

A consortium of investors including Ant Group and Alibaba, led a $1.2bn Series A round in Ant International, a global digital payment, digitisation and financial technology provider, according to press releases.

Volkswagen nears sale of stake in its India unit to JSW Group. (Bloomberg)

Volkswagen is in advanced discussions with JSW Group regarding a potential investment in its Indian subsidiary, Skoda Auto Volkswagen India.

The proposed transaction would provide new capital for the automaker’s operations in India. JSW is seeking a majority stake in the business, and the parties are working toward an agreement in the coming weeks.

FountainVest is said to consider selling logistics firm Rokin. (Bloomberg)

FountainVest Partners is exploring a potential sale of Rokin, its Chinese logistics business.

The private equity firm has engaged advisers and begun assessing interest from prospective investors in the Shanghai‑based company. The review is at an early stage and no decision on a transaction has been made.

InMobi appoints JPMorgan, Jefferies for nearly $1bn IPO. (Bloomberg)

InMobi has appointed four banks to support an initial public offering that could raise about $1bn for the Indian mobile advertising and technology company.

JP Morgan, Jefferies, Kotak Mahindra Capital and Axis Capital have been selected to manage the planned listing process, which is expected to begin in the coming months.

China AI startup GigaAI in talks for Hong Kong IPO as it Eyes $3bn valuation. (Bloomberg)

Jijia Vision, also known as GigaAI, is considering an initial public offering in Hong Kong as soon as this year, joining a growing number of Chinese artificial‑intelligence companies pursuing public listings.

The Beijing‑based company is also in the process of raising a new funding round at a valuation of approximately $3bn as it prepares for a potential market debut. The company focuses on AI world models, a technology designed to simulate and predict the behaviour of people and objects.

BlackRock, Hillhouse, Temasek said set to back Innolight listing. (Bloomberg)

Zhongji Innolight is preparing a potential Hong Kong listing that could raise approximately $8bn, attracting interest from a group of institutional investors as cornerstone participants.

BlackRock, Hillhouse Investment and Temasek Holdings are expected to be among the cornerstone investors in the offering. Other investors planning to participate include Aspex Management, JP Morgan Asset Management, Wellington Management and Yunfeng Capital.

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