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Top Highlights
BBVA chair Carlos Torres Vila said Spain’s antitrust regulator, CNMC, is expected to rule on the bank’s bid for Banco Sabadell within weeks, a key step in the takeover.
"We are nearing the final stages, just weeks from approval. This will open the acceptance period for Sabadell shareholders," Carlos Torres Vila, BBVA Chair.
Bain Capital, a private equity firm, agreed to acquire Frontline Road Safety, a construction services company, from The Sterling Group, a private equity firm, according to press releases. Financial terms were not disclosed.
Bain Capital is advised by Stifel, UBS and Kirkland & Ellis. Frontline Road Safety is advised by Guggenheim Partners, Harris Williams & Co, Latham & Watkins, and Stanton PRM (led by Charlyn Lusk), according to press releases and MergerLinks data.
Carlyle, a private equity firm, completed the investment in Entertainment 360, a talent management company, a private equity company, according to press releases. Financial terms were not disclosed.
Entertainment 360 was advised by The Raine Group and Venable. Carlyle was advised by Latham & Watkins, according to press releases.
Deal Round up
AMERICAS
SoftBank in talks to invest up to $25bn in OpenAI. ( Bloomberg)
Zayo in talks for Crown Castle fiber unit as TPG bid stalls. ( Bloomberg)
Brazil's top egg producer eyes US expansion after JBS merger. ( Bloomberg)
Blackstone president Jon Gray says office market has bottomed out. ( Bloomberg)
Wealth adviser amasses $11bn fortune through Goldman, TPG deals. ( Bloomberg)
EMEA
Saudi poultry producer Entaj to sell 30% stake in IPO. ( DealStreetAsia)
APAC
Renault seeks premium from Honda for Nissan stake. (Bloomberg)
Seven & i Founding family seeks investment from Thailand's CP Group. (Reuters)
Whirlpool of India's shares plunge as parent plans to halve stake.(Press Release)
Macquarie-owned Blueleaf to invest $400m in Jakson Green’s India solar projects. (Press Release)
Rakuten scraps plan to list securities unit on Tokyo bourse. (Press Release)
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AMERICAS
Entrepreneurial Equity Partners, a private equity firm focused on the food and beverage industry, completed the acquisition of Bil-Jac Foods, a company specializing in the production of premium dog food and treats, according to press releases. Financial terms were not disclosed.
Bil-Jac Foods was advised by Lincoln International and Jones Day (led by William R Stewart), according to press releases and MergerLinks data.
Sagility, a tech-enabled business operations solutions and services provider in the healthcare sector, completed the acquisition of BroadPath Healthcare Solutions, a US healthcare focused services company, according to press releases. Financial terms were not disclosed.
Sagility was advised by Finn Partners (led by Addie Reed).
Serco, a multinational defence, health, space, justice, migration, customer services, and transport company, agreed to acquire US defence business from Northrop Grumman, an aerospace and defense company, for $327m, according to press releases.
Blackford Capital, a private equity firm, completed the acquisition of Ace Controls, an industrial equipment supplier, from Generational Group, a mergers and acquisitions advisory firm for privately held businesses, according to press releases. Financial terms were not disclosed.
SoftBank in talks to invest up to $25bn in OpenAI. ( Bloomberg)
SoftBank Group is in discussions to invest up to $25bn in OpenAI, potentially becoming the AI startup’s largest backer.
The Japanese investment giant is considering an investment between $15bn and $25bn. This would be in addition to the $15bn SoftBank has already committed to Project Stargate, a Texas-based joint venture with OpenAI aimed at developing data centers and AI infrastructure to support ChatGPT.
Zayo in talks for Crown Castle fiber unit as TPG bid stalls. ( Bloomberg)
Zayo Group is in negotiations to acquire Crown Castle's fiber business after discussions with rival bidder TPG cooled.
Talks with Zayo gained momentum after TPG exited the bidding. Zayo’s offer surpassed TPG’s, and the deal for Crown Castle’s entire fiber unit could exceed $8bn.
Brazil's top egg producer eyes US expansion after JBS merger. ( Bloomberg)
Mantiqueira Brasil, South America's largest egg producer, is considering a merger or acquisition to enter the US market following the sale of a 50% stake to meat producer JBS SA.
“No option is ruled out,” Márcio Utsch, Mantiqueira Brasil CEO. He noted that expansion could come through local production or partnerships with existing market players.
Blackstone president Jon Gray says office market has bottomed out. ( Bloomberg)
Blackstone, the world’s largest commercial property owner, believes the worst is over for the global office market following a prolonged pandemic-driven downturn.
“Office has bottomed, particularly in stronger markets and better-quality buildings,” Jon Gray, Blackstone President.
Wealth adviser amasses $11bn fortune through Goldman, TPG deals. ( Bloomberg)
From a suburban office park in Kansas City, Peter Mallouk has transformed Creative Planning into one of the nation’s largest financial advisory firms, overseeing approximately $350bn in client assets under its slogan, “Experience a richer way to wealth.”
Mallouk himself embodies that vision. When he took over more than 20 years ago, the firm had only a few dozen clients. In September, TPG acquired a minority stake, valuing Creative Planning at $16bn, including debt.
EMEA
New Mountain Capital-backed Salute, a provider of integrated asset management services for the data center industry, agreed to acquire Keysource, a provider of sustainable data centre solutions and strategic advisory services in the EMEA region, according to press releases. Financial terms were not disclosed.
Salute is advised by Simpson Thacher & Bartlett (led by Christopher Vallance), according to MergerLinks data.
Orion Resource Partners, an investment firm, and ADQ, a sovereign wealth fund based in Abu Dhabi, agreed to form a $1.2bn joint venture, according to press releases.
Molson Coors, a multinational drink and brewing company, agreed to acquire a 8.5% stake in Fever-Tree, a producer of premium drink mixers, for £71m ($88m), according to press releases.
Saudi poultry producer Entaj to sell 30% stake in IPO. ( DealStreetAsia)
Arabian Company for Agricultural and Industrial Investment plans to offer a 30% stake through an IPO in Riyadh, making it the second Saudi firm to announce a listing this year.
"This IPO aligns with our commitment to food security and will support investments in infrastructure and workforce growth," Ziyad Al Sheikh, Entaj Vice Chairman.
APAC
Renault seeks premium from Honda for Nissan stake. (Bloomberg)
Renault is demanding a takeover premium for its 36% stake in Nissan Motor if Honda Motor assumes control of the Japanese automaker.
Representatives from the French carmaker traveled to Japan this week to express concerns over the potential structure of a deal. Renault aims to ensure Nissan’s full value is recognized, regardless of how the partnership unfolds.
Seven & i Founding family seeks investment from Thailand's CP Group. (Reuters)
The founding family of Japan's Seven & i is in talks with Thailand's Charoen Pokphand Group to support a management buyout of the retail giant. The move aims to take the company private and counter a $47bn takeover bid from Canada's Alimentation Couche-Tard.
CP is the latest potential investor approached by the family as they work to secure funding for the deal, which values Seven & i at approximately $58bn. If completed, it would mark the largest management buyout in Japan’s history.
Whirlpool of India's shares plunge as parent plans to halve stake. (Press Release)
Whirlpool plans to cut its stake in Whirlpool of India from 51% to about 20%, causing the Indian unit’s shares to drop 20% to a near ten-month low on January 30. The move signals a strategic shift, raising investor concerns over Whirlpool’s future in the Indian market.
The US-listed appliance maker expects to generate $550m to $600m from the sale, set to close by mid-to-late 2025. While the company hasn’t detailed its reasons, the divestment reflects a broader trend of global firms reassessing their emerging market investments.
Macquarie-owned Blueleaf to invest $400m in Jakson Green’s India solar projects. (Press Release)
Blueleaf Energy, a renewable energy platform backed by a Macquarie Asset Management fund, has announced a $400m investment in India’s solar sector. The funding will support the development of 1 gigawatt of solar projects by Indian energy firm Jakson Green.
The projects are set to be built in Rajasthan, a state known for its high solar potential. Blueleaf’s investment highlights the increasing confidence of global investors in India’s expanding renewable energy market.
Rakuten scraps plan to list securities unit on Tokyo bourse. (Press Release)
Rakuten Group has abandoned its plan to list Rakuten Securities on the Tokyo Stock Exchange, opting instead to strengthen its partnership with Mizuho Securities.
The Japanese e-commerce giant initially pursued an IPO to bolster its finances after heavy investments in Japan’s competitive wireless carrier market. Although it temporarily withdrew its application in late 2023 with intentions to reapply, it has now decided to scrap the listing entirely.
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