Apollo completes the acquisition of Bridge Investment Group for $1.5bn.

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AMERICAS

Pan American Silver completes the acquisition of MAG Silver for $2.1bn.

Pan American Silver, a producer of silver and gold in the Americas, completed the acquisition of MAG Silver, a growth-oriented Canadian mining and exploration company, for $2.1bn, according to press releases.

MAG Silver was advised by BMO Capital Markets, GenCap Mining Advisory, Raymond James, Blake Cassels & Graydon and Paul Weiss Rifkind Wharton & Garrison (led by Christopher Cummings). Pan American Silver was advised by National Bank Financial and Borden Ladner Gervais (led by Fred Pletcher), according to press releases.

White Mountains completes the acquisiion of 51% stake in Distinguished Programs for $230m.

White Mountains, a diversified insurance and related financial services holding company, completed the acquisiion of 51% stake in Distinguished Programs, a provider of specialized insurance programs to brokers and agents, for $230m, according to press releases.

White Mountains was advised by Cravath Swaine & Moore. Distinguished Programs was advised by Mayer Brown and Willkie Farr & Gallagher (led by Jeffrey Poss, Larissa Marcellino and Justin Sommerkamp), according to press releases and MergerLinks data.

Aonic completes the acquisition of Prime Insights for $250m.

Aonic, a global group of multiplatform tech and gaming companies, completed the acquisition of Prime Insights, a company that provides quality market research services, offering access to a diverse panel of respondents from over 20 countries and 12 languages, for $250m, according to press releases.

Prime Insights was advised by Oberon Securities. Aonic was advised by Ernst & Young and DLA Piper, according to press releases.

Corient completes the acquisition of Breed’s Hill Capital.

Corient, a wealth management firm, completed the acquisition of Breed’s Hill Capital, a provider of tailored wealth management and investment advisory solutions to private clients, families and foundations, according to press releases. Financial terms were not disclosed.

Breed’s Hill Capital was advised by Cambridge International Partners and Mintz Levin. Corient was advised by StreetCred PR (led by Jimmy Moock), according to press releases.

Rainier Partners to acquire Kleen-Tech Services.

Rainier Partners, a private equity firm, agreed to acquire Kleen-Tech Services, a janitorial services provider, according to press releases. Financial terms were not disclosed.

Rainier Partners is advised by MiddleM Creative (led by Jan Morris), according to press releases.

Goldman Sachs to invest $1bn in T. Rowe Price. (Bloomberg)

Goldman Sachs plans to invest up to $1bn in T. Rowe Price Group and will partner with the asset manager to offer private-market products to retail investors.

Under this uncommon arrangement, Goldman will hold equity in T. Rowe on its balance sheet, despite the asset manager’s stock having fallen more than 50% since its 2021 peak. According to a joint emailed statement, the two companies will work together to provide a variety of investment options for retirement savers and high-net-worth clients

GTCR is said to explore bid for Hellman & Friedman’s SimpliSafe. (Bloomberg)

Buyout firm GTCR is considering a bid for Hellman & Friedman’s residential security company SimpliSafe.

GTCR is in discussions with HPS Investment Partners to secure about $1.2bn in financing to back a potential acquisition. Additional direct lending firms are also expected to provide funding alongside HPS.

Citi hands BlackRock $80bn in wealth deal. (Bloomberg)

Citigroup is handing over tens of billions of dollars in client assets to BlackRock, effectively closing its last in-house asset management operation and outsourcing more of its wealth management services.

Under the new partnership, BlackRock will manage the investments of thousands of Citigroup’s wealthiest clients who currently use Citi Investment Management. The firm, which already oversees part of Citigroup’s $635bn in client assets, will now take over the remaining $80bn previously managed internally.

EMEA

Skyward Specialty Insurance Group to acquire Apollo Group Holdings from Alchemy Partners for $555m.

Skyward Specialty Insurance Group, a company that offers a range of specialty property and casualty insurance products and services, including commercial general liability, excess and surplus, commercial auto, and workers' compensation, agreed to acquire Apollo Group Holdings, an innovation inspired insurance platform, offering data-driven and creative solutions to a wide variety of risks, from Alchemy Partners, a private equity firm, for $555m, according to press releases.

Apollo Group Holdings is advised by Evercore, Howden, Willkie Farr & Gallagher (led by Joseph Ferraro) and Haggie Partners (led by Caroline Klein and Peter Rigby). Skyward Specialty Insurance is advised by Barclays and RPC. Debt financing is provided by Barclays, according to press releases and MergerLinks data.

CapVest-backed Natra to acquire Bredabest.

CapVest-backed Natra, a food manufacturer, agreed to acquire Bredabest, a producer of peanut butter, according to press releases. Financial terms were not disclosed.

Bredabest is advised by Squarefield, Vriman M&A Lawyers and PricewaterhouseCoopers. Natra is advised by Willkie Farr & Gallagher, KPMG and Reputation (led by Ben Valdimarsson), according to press releases.

KKR and Inhabeo to acquire seven purpose-built student accommodation from Curlew Student Trust.

KKR, an investment firm, and Inhabeo, a living sector platform, agreed to acquire seven purpose-built student accommodation from Curlew Student Trust, a real estate fund, according to press releases. Financial terms were not disclosed.

KKR is advised by Jones Day and FGS Global (led by Alastair Elwen and Oliver Sherwood). Curlew Student Trust is advised by CMS Legal, according to press releases.

ExxonMobil explores sale of European chemicals plants. (FT)

ExxonMobil is looking to sell its European chemical plants as the industry faces pressure from US tariffs and rising competition from China.

The decision mirrors a broader trend in the sector, with several companies seeking to scale back or exit their European operations amid a deep downturn. Earlier this year, LyondellBasell sold four plants in the region, while Saudi Arabia’s Sabic is also weighing a potential divestment.

ArcelorMittal South Africa takeover talks stall over valuation. (Bloomberg)

ArcelorMittal’s negotiations to sell its South African unit to the state-owned Industrial Development are being delayed by disagreements over valuation.

An agreement on the future of ArcelorMittal South Africa could still be reached before the due diligence period ends on September 30. However, the Luxembourg-based company is seeking a significantly higher price than what has been offered.

ADNOC blasts EU over ‘excessive’ demands in Covestro subsidy review. (Reuters)

Abu Dhabi state-owned oil company ADNOC criticized EU antitrust regulators on September 4, describing their requests for information in the subsidy probe of its €14.7bn ($17bn) bid for Germany's Covestro as excessive and intrusive.

ADNOC warned that such regulatory demands could potentially threaten the completion of the acquisition.

MFE holds a 75.61% stake in ProSiebenSat.1. (Reuters)

MFE-MediaForEurope said on September 4 it acquired a 75.61% stake in ProSiebenSat.1, concluding a lengthy takeover battle and positioning itself to become Europe’s largest free-to-air broadcaster.

The deal supports MFE, controlled by Italy’s Berlusconi family, in its effort to build a European ad-funded TV platform amid intense competition for viewers and advertisers.

Mediobanca resists Monte dei Paschi bid. (Reuters)

Italian merchant bank Mediobanca on September 4 renewed its opposition to Banca Monte dei Paschi’s takeover offer, even after the offer was sweetened with an additional cash component, stating that it remained “entirely inadequate.”

The bank reiterated its position following a board meeting in Milan.

APAC

Amazon completes the acquisition of Axio.

Amazon, a multinational technology company, completed the acquisition of Axio, a consumer finance company offering pay later, credit and personal finance management, according to press releases. Financial terms were not disclosed.

Axio was advised by DC Advisory (led by Klaas Oskam) and AZB & Partners (led by Srinath Dasari), according to press releases and MergerLinks data.

KKR to acquire Samhwa from TPG for $528m.

KKR, a global investment firm, agreed to acquire Samhwa, a cosmetics packaging company, from TPG, a private equity firm, for $528m, according to press releases.

TPG Capital is advised by Brunswick Group, according to press releases.

Permira to invest in RightShip.

Permira, the global investment firm, agreed to invest in RightShip, a maritime digital platform for safety, sustainability, and supply chain due diligence, according to press releases. Financial terms were not disclosed.

RightShip is advised by Rothschild & Co, according to press releases.

Novartis signs up to $5.2bn licensing deal with China's biotech Argo for heart drugs. (Reuters)

Swiss drugmaker Novartis has signed a licensing and options agreement worth up to $5.2bn with Argo Biopharmaceutical, a China-based biotech company.

The deal focuses on Argo’s experimental treatments for cardiovascular diseases. These therapies are based on RNA interference (RNAi) technology, which works by silencing or deactivating genes that contribute to disease.

Zijin Gold said to plan $3bn HK IPO in world’s biggest listing since CATL. (Bloomberg)

Zijin Mining Group’s planned spin-off of its international gold unit could raise more than $3bn, setting up its Hong Kong debut to be the world’s second-largest listing this year.

The size and timing of Zijin Gold International’s initial public offering are still under discussion and may change. The listing could launch as early as this month, with one person noting that investor demand has been particularly strong amid record-high gold prices.

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