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AMERICAS

UK watchdog clears Omnicom's $13.25bn deal to buy Interpublic. (Reuters)

The UK Competition and Markets Authority has cleared Omnicom’s $13.25bn all-stock acquisition of Interpublic, deciding no in-depth phase 2 review is needed.

The merger, announced in December 2024, which aims at creating enhanced advertising and marketing agency, is expected to close in the second half of 2025.

Interpublic is advised by Citigroup, Morgan Stanley and Willkie Farr & Gallagher (led by Danielle Scalzo and Laura Acker). Financial advisors are advised by Sullivan & Cromwell (led by Lee C. Parnes and Frank Aquila). Omnicom is advised by PJT Partners (led by Michael Gilbert), Latham & Watkins (led by Jason Morelli and Bradley Faris), Slaughter & May (led by Claire Jeffs) and FTI Consulting (led by Shannon Stucky Pritchett). PJT Partners is advised by Skadden Arps Slate Meagher & Flom (led by Richard Oliver), according to press releases and MergerLinks data.

SERB Pharmaceuticals to acquire Y-mAbs Therapeutics for $412m.

SERB Pharmaceuticals, a global specialty pharmaceutical company, agreed to acquire Y-mAbs Therapeutics, a biopharmaceutical company that focuses on the development and commercialization of novel antibody-based therapeutic products, for $412m, according to press releases.

Y-mAbs Therapeutics is advised by Centerview Partners, Cooley and Joele Frank (led by Aaron Palash). SERB Pharmaceuticals is advised by Rothschild & Co, Freshfields Bruckhaus Deringer and H/Advisors Abernathy, according to press releases.

Blackstone to acquire Enverus from Hellman & Friedman and Genstar Capital.

Blackstone, an American multinational private equity, alternative asset management, and financial services firm, agreed to acquire Enverus, a data, software, and insights company focused on the energy industry, from Hellman & Friedman and Genstar Capital, a private equity firms, according to press releases. Financial terms were not disclosed.

Enverus and Hellman & Friedman are advised by Citigroup, Morgan Stanley and Kirkland & Ellis. Hellman & Friedman is advised by FGS Global (led by Dan Abernethy). Blackstone is advised by RBC Capital Markets and Simpson Thacher & Bartlett, according to press releases and MergerLinks data.

Francisco Partners to acquire Elite from TPG and Thomson Reuters.

Francisco Partners, a private equity firm, agreed to acquire Elite, a provider of software and integrated payment solutions for the legal industry, from TPG, a private equity investment firm, and Thomson Reuters, a multinational media conglomerate, according to press releases. Financial terms were not disclosed.

Elite and TPG are advised by Evercore and Davis Polk & Wardwell (led by Oliver H. Smith and Darren M. Schweiger). Francisco Partners is advised by Centerview Partners, Kirkland & Ellis (led by Kyle P. Elder and Sean Kramer) and Prosek Partners, according to press releases and MergerLinks data.

GreyLion Partners and Denali Growth Partners completes the investment in Slipstream.

GreyLion Partners and Denali Growth Partners, a private equity firms, completed the investment in Slipstream, a technology partner serving the pharmaceutical and biopharmaceutical industry, according to press releases. Financial terms were not disclosed.

Slipstream was advised by Guggenheim Partners, Fox Rothschild and Kirkland & Ellis (led by Daniel W. Vaczy and Christian A. Atwood). GreyLion Partners was advised by Latham & Watkins. Denali Growth Partners was advised by Choate Hall & Stewart, according to press releases.

Apollo to acquire a majority stake in Stream Data Centers from Stream Realty Partners.

Apollo, a private equity firm, agreed to acquire a majority stake in Stream Data Centers, a manager of data centers, from Stream Realty Partners, a commercial real estate services, investment, and development company, according to press releases. Financial terms were not disclosed.

Stream Data Centers is advised by Goldman Sachs and Akin Gump Strauss Hauer & Feld. Apollo is advised by Moelis & Co and Latham & Watkins, according to press releases.

Hercules Capital-backed Snappt completes the acquisition of Trigo.

Hercules Capital-backed Snappt, a platform for applicant trust in multifamily housing, completed the acquisition of Trigo, a rental payment history company, according to press releases. Financial terms were not disclosed.

Hercules Capital was advised by Morrison Foerster (led by Will Gerber). Snappt was advised by Fenwick & West (led by Stephen Fisher) and Walker Sands Communications. Trigo was advised by Quarles & Brady, according to press releases.

Boxabl to go public via a SPAC merger with FG Merger II in a $3.5bn deal.

Boxabl, a modular housing solutions provider, agreed to go public via a SPAC merger with FG Merger II, a special purpose acquisition company, in a $3.5bn deal, according to press releases.

Boxabl is advised by Maxim Group and Winston & Strawn (led by Michael J. Blankenship). FG Merger II is advised by Loeb & Loeb, according to press releases.

UPSTACK completes the acquisition of Avail Partners.

UPSTACK, a full-service technology brokerage, completed the acquisition of Avail Partners, a technology management consulting firm, according to press releases. Financial terms were not disclosed.

Avail was advised by Renaissance Strategic Advisors. UPSTACK was advised by BuzzTheory (led by Khali Henderson), according to press releases.

RedBird-backed Arax Investment Partners completes the acquisition of Summit Wealth Strategies.

RedBird-backed Arax Investment Partners, a wealth and asset management platform, completed the acquisition of Summit Wealth Strategies, an independent registered investment advisor, according to press releases. Financial terms were not disclosed.

Arax was advised by Gagnier Communications (led by Dan Gagnier), according to press releases.

Daikin Applied to acquire DDC Solutions.

Daikin Applied, a company specializes in providing HVAC solutions for commercial and industrial applications, agreed to acquire DDC Solutions, a provider of data center cooling and management technology solutions, according to press releases. Financial terms were not disclosed.

DDC Solutions is advised by Lincoln International, according to press releases.

CapitalG led a $100m Series C round in Clay.

CapitalG, a private equity firm under Alphabet, led a $100m Series C round in Clay, an AI go-to-market development platform, with participation from Sequoia Capital, Meritech Capital, First Round Capital, BoxGroup, Boldstart, and Sapphire Ventures, according to press releases.

First Quantum signs $1bn gold streaming deal with Royal Gold. (Press Release)

Canadian miner First Quantum Minerals has entered into a $1bn gold streaming agreement with a subsidiary of Royal Gold. The deal involves an upfront payment in exchange for rights to future gold production, typically at a set price.

This financing arrangement allows First Quantum to secure immediate funding while Royal Gold gains long-term access to gold output. Both companies disclosed the agreement via a joint statement.

YPF nears deal to acquire TotalEnergies’ shale assets in Argentina. (Bloomberg)

State-owned Argentine energy company YPF is nearing an agreement to acquire shale oil assets from France’s TotalEnergies. The estimated deal value ranges between $400m and $500m.

The acquisition would mark a strategic expansion of YPF’s shale operations as it seeks to strengthen its position in Argentina’s energy sector. Final terms are yet to be disclosed, and the parties have not officially confirmed the deal.

ESPN to acquire NFL media assets in exchange for a 10% equity stake. (Press Release)

ESPN has entered into a non-binding agreement to acquire the NFL Network, RedZone Channel, NFL Fantasy, and other media assets from the NFL. In return, the NFL will receive a 10% equity stake in ESPN.

A separate agreement will also grant ESPN licenses to use certain NFL content and IP across the acquired platforms. The transaction marks a deeper strategic collaboration between the NFL and Disney-owned ESPN.

EMEA

Sabadell shareholders approve sale of its British unit TSB to Santander. (Reuters)

Sabadell shareholders approved selling its UK unit TSB to Santander for £2.65bn ($3.6bn) to focus on the Spanish market and counter BBVA’s €15bn ($17.4bn) hostile takeover bid.

Santander is advised by A&O Shearman (led by Ferhat Afkar and Daniel Ginting) and Brunswick Group. Sabadell is advised by Goldman Sachs (led by Dirk Lievens), Morgan Stanley and Uria Menendez (led by Javier Redonet). Financial advisors are advised by Freshfields Bruckhaus Deringer (led by Jose Armando Albarran), according to press releases and MergerLinks data.

ADQ completes the acquisition of a 63% stake in Aramex from Geopost for AED4.4bn.

ADQ, a sovereign wealth fund based in Abu Dhabi, completed the acquisition of a 63% stake inAramex, an Emirati multinational logistics, courier and package delivery company, from Geopost, a parcel delivery company, for AED4.4bn ($1.2bn), according to press releases.

Aramex was advised by Clifford Chance. ADQ was advised by Rothschild & Co and A&O Shearman. Geopost was advised by Morgan Stanley, Squire Patton Boggs (led by Matthew Powell) and Sullivan & Cromwell (led by Arnaud Berdou), according to press releases and MergerLinks data.

Lufthansa exits bid for Air Europa. (Reuters)

Lufthansa has officially withdrawn from the bidding process to acquire a stake in Spanish airline Air Europa, a company spokesperson confirmed. The move comes just a week after Air France-KLM also exited the process, narrowing the field of bidders significantly.

With both Lufthansa and Air France-KLM out, Turkish Airlines is now the only known remaining bidder. IAG, the owner of British Airways, already holds a 20% stake in Air Europa but was unable to secure regulatory approval for a full acquisition earlier in 2024.

Russian court lifts freeze on Raiffeisen’s Russian unit shares. (Reuters)

A Russian court has removed interim restrictions that had prevented Austria’s Raiffeisen Bank International (RBI) from selling its Russian subsidiary. The decision was confirmed by the RBI and a lawyer for its Russian unit, Raiffeisenbank.

This legal development may facilitate RBI’s efforts to exit the Russian market, a process the bank says it has been pursuing for over three years following the onset of the Russia-Ukraine conflict.

Macquarie to buy stake in Portuguese hospital group Luz Saude. (Bloomberg)

Macquarie Group is acquiring a minority stake in Luz Saude, a Portuguese hospital operator. The deal follows a competitive bidding process where Macquarie outbid private equity firms CVC Capital Partners and KKR.

Luz Saude operates several hospitals and clinics in Portugal, providing a range of healthcare services. The transaction aligns with Macquarie’s strategy of investing in infrastructure and essential services.

Hg explores $1.9bn sale of financial data firm FE fundinfo. (Reuters)

Private equity firm Hg is considering a potential sale of FE fundinfo, a London-based financial data company, and has begun engaging advisers. The process follows a wave of activity in the high-valuation data services sector.

Arri explores strategic options, including full or partial sale. (Bloomberg)

Arri Group, a Munich-based maker of film equipment, is evaluating strategic options that may include a full or partial sale. Discussions are at an early stage, and the company is speaking with potential advisers.

A transaction could involve either a minority or a majority stake. Arri has also been working with consultancy AlixPartners to streamline operations ahead of any potential deal.

Glencore to retain London listing, drops US move. (Reuters)

Glencore has decided to maintain its primary listing in London, reversing earlier considerations of moving to the US. The company concluded that a US listing would not enhance shareholder value.

The decision marks a rare positive development for the London market, which has been facing a decline in new listings. Earlier this year, Glencore had indicated New York as a potential alternative.

Quantexa targets potential IPO in 2026 with $3bn valuation. (Bloomberg)

UK-based data and analytics software firm Quantexa is weighing an IPO as early as the second half of 2026. The company may target a valuation exceeding $3bn.

Quantexa is exploring various listing venues, including the US, though no final decision has been made. The company has not publicly confirmed the timeline or specifics of the plan.

Dar Al Majed draws $36bn in orders for $336m IPO. (Bloomberg)

Dar Al Majed Real Estate has attracted SAR135bn ($36bn) in demand for its $336m IPO, reflecting strong investor interest amid eased foreign ownership rules in Saudi Arabia.

The offering was priced at SAR14 ($3.7) per share, the top end of the range, valuing the company at SAR4.2bn ($1.1bn). A 30% stake, or 90m shares, is being sold by existing shareholders.

APAC

TPG to acquire Infomedia for $579m.

TPG, a private equity investment firm, agreed to acquire Infomedia, a provider of SaaS and DaaS solutions for the global automotive and motor service sector, for $579m, according to press releases.

Infomedia is advised by Greenhill & Co, Gresham, Ashurst and Fortitude IR, according to press releases.

MEXC Ventures completes a $200m investment in Triv.

MEXC Ventures, an investment arm of global cryptocurrency exchange MEXC, completed a $200m investment in Triv, an Indonesian cryptocurrency exchange platform, according to press releases.

JD.com led a $140m Series A round in PaXini. (DealStreetAsia)

JD.com, an online direct sales company, led a $140m Series A round in PaXini, a technology company that specializes in the development of 3D smart tactile sensors for robots and other systems, with participation from Puxin Capital, XGD, TCL Capital, and Addor Capital, according to DealStreetAsia.

Yomeishu considers going private amid acquisition interest. (Bloomberg)

Japanese medicinal liqueur producer Yomeishu Seizo is exploring the possibility of going private. The company has received acquisition proposals from multiple investment funds.

The deliberations are still in the early stages, and no final decision has been made. The move would potentially shift the long-established company into private ownership for the first time.

Cathay Pacific places $8.1bn order for 14 Boeing jets. (Bloomberg)

Cathay Pacific Airways has agreed to purchase 14 Boeing 777-9 jets for $8.1bn, marking its first order with the US aircraft manufacturer in 12 years. The agreement includes options to acquire an additional seven aircraft.

The new widebody planes are expected to be delivered by 2034. This move supports the airline’s long-term fleet renewal strategy and will enhance its long-haul service capabilities.

Atour considers second listing in Hong Kong amid US delisting concerns. (Bloomberg)

Atour Lifestyle, a Chinese hotel chain listed in the US, is exploring a secondary listing in Hong Kong. The move comes as more US-listed Chinese companies assess options due to ongoing concerns about potential delistings from American exchanges.

Discussions are at a preliminary stage, and Atour has not finalized plans. A Hong Kong listing would give the company an alternative trading venue and access to more regional investors.

GCash profit contribution to Globe Telecom doubles as IPO nears. (Bloomberg)

Globe Telecom reported that over a quarter of its pre-tax profit now comes from its fintech subsidiary Mynt, which operates the Philippine mobile payments platform GCash. In the first half, Globe’s share of equity earnings from Mynt reached PHP3.8bn ($66m), marking a 78% year-on-year increase.

GCash’s contribution to Globe's pre-tax income has more than doubled, rising from 12% last year to 26% this year. The strong performance comes as GCash prepares for a potential IPO, signaling growing investor interest in fintech assets in the region.

iQiyi plans $300m Hong Kong listing amid shift closer to home. (Bloomberg)

iQiyi, the Baidu-owned streaming platform often dubbed “Netflix-style,” is aiming to raise $300m through a Hong Kong listing later this year. The move follows a trend of US-listed Chinese firms seeking secondary listings closer to domestic investors.

The company has initiated talks with global banks to arrange the deal. This potential listing would diversify its investor base and enhance liquidity in the Asian market.

Sify’s data-center unit plans $500m India IPO. (Bloomberg)

Sify Infinit Spaces, the data-center arm of Sify Technologies, is preparing to file for a $500m IPO in India. The filing with the Securities and Exchange Board of India is expected in the coming weeks.

The offering will include both new and existing shares and could value the company at around $3bn. Kotak Private Equity Group is a backer of the unit.

Trustar Capital closes $626m RMB M&A fund focused on control buyouts. (DealStreetAsia)

Trustar Capital, the private equity arm of CITIC Capital, has closed a new RMB-denominated M&A fund at over CNY4.5bn ($626m). The fund will target control buyouts in China, especially in strategic sectors.

Based in Suzhou Industrial Park, the fund attracted commitments from government guidance funds, insurers, FOFs, securities firms, and corporates. This brings Trustar’s total AUM to $9.6bn.

Airtree closes $425m fund with new global LPs backing Australian tech. (DealStreetAsia)

Airtree Ventures has closed its fifth fund at $425m, attracting first-time global limited partners to Australia’s venture capital scene. The fund is divided into $165m for early-stage investments and $260m for growth-stage opportunities.

The Sydney-based firm now manages around AUD2bn ($1.3bn) in total assets. Airtree noted that the fund was oversubscribed, reflecting increased international interest in Australia's tech ecosystem.

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