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AMERICAS

Teck and Anglo American receive Government of Canada approval for merger. (Press Release)

Teck Resources and Anglo American have received regulatory approval from the Government of Canada under the Investment Canada Act for the merger of equals between Anglo American and Teck which was announced on September 9, 2025.

Teck Resources is advised by Ardea Partners, BMO Capital Markets, Scotiabank, Felesky Flynn, Freshfields Bruckhaus Deringer (led by Jessamy Gallagher), Stikeman Elliott (led by Sean Vanderpol), Wachtell Lipton Rosen & Katz (led by Daniel A. Neff and Mark Gordon), Brunswick Group (led by Diana Vaughton, Carole Cable and William Medvei), FGS Global and Joele Frank. Anglo American is advised by Standard Bank of South Africa, Centerview Partners, Goldman Sachs, Morgan Stanley, RBC Capital Markets, Latham & Watkins, Linklaters, Brunswick Group and FGS Global, according to press releases and MergerLinks data.

Motiv Electric Trucks completes the marger with Workhorse Group in a $105m deal.

Motiv Electric Trucks, a manufacturer of medium-duty electric trucks and buses, completed the merger with Workhorse Group, a technology company focused on pioneering the transition to zero-emission commercial vehicles, in a $105m deal, according to press releases.

Workhorse was advised by Stifel (led by Ken Buckfire), Taft Stettinius & Hollister, Gateway Investor Relations, and Joele Frank (led by Aaron Palash). Motiv was advised by TD Cowen, DLA Piper, and Scoville PR (led by John Willams), according to press releases and MergerLinks data.

Fernando Chico Pardo completes the acquisition of a 25% stake in Banamex from Citi for $2.3bn.

Fernando Chico Pardo, a Mexican billionaire, completed the acquisition of a 25% stake in Banamex, a banking company, from Citi, a financial services holding company, for $2.3bn, according to press releases.

Fernando Chico Pardo was advised by Bufete Robles Miaja and Paul Weiss Rifkind Wharton & Garrison (led by Laura Turano and Stanley E. Richards). Citigroup was advised by Creel Garcia-Cuellar Aiza y Enriquez, White & Case, and Skadden Arps Slate Meagher & Flom (led by Paola Lozano), according to press releases and MergerLinks data.

First Financial secures regulatory approval for acquisition of BankFinancial. (Press Release)

First Financial announced that it received regulatory approval from the Federal Reserve and the Ohio Department of Financial Institutions to complete its previously announced acquisition of BankFinancial. Closing is anticipated to take place on or around January 1, 2026, subject to customary closing conditions and approval by BankFinancial shareholders.

First Financial is advised by Morgan Stanley and Squire Patton Boggs (led by Alison LaBruyere and Jim Barresi). BankFinancial is advised by Keefe Bruyette & Woods (led by Allen Laufenberg), Kirkland & Ellis, and Luse Gorman, according to press releases and MergerLinks data.

A&M Capital completes the acquisition of Asurint from Guidepost Growth Equity.

A&M Capital, a multi-strategy private equity investment firm, completed the acquisition of Asurint, a provider of background screening solutions, from Guidepost Growth Equity, a private equity firm, according to press releases. Financial terms were not disclosed.

Asurint was advised by Robert W Baird and Sidley Austin. A&M Capital was advised by Houlihan Lokey and Kirkland & Ellis. Guidepost Growth Equity was advised by Cooley, according to press releases.

Slate Asset Management and Hamilton Lane complete the acquisition of a majority stake in Cold-Link Logistics.

Slate Asset Management, a global alternative investment platform targeting real assets, and Hamilton Lane, a provider of investment management and advisory services, completed the acquisition of a majority stake in Cold-Link Logistics, a privately-held cold storage platform, according to press releases. Financial terms were not disclosed.

Cold-Link Logistics was advised by Wells Fargo Securities, Greenberg Traurig and Haber Law. Slate Asset Management was advised by JP Morgan and King & Spalding, according to press releases.

Consortium Brand Partners, Eldridge Industries and Convive Brands to acquire California Pizza Kitchen.

Consortium Brand Partners, a private equity firm, Eldridge Industries, a holding company, and Convive Brands, a New York-based hospitality group that builds and operates high-quality restaurant brands, agreed to acquire California Pizza Kitchen, an American casual dining restaurant chain, according to press releases. Financial terms were not disclosed.

California Pizza Kitchen is advised by Stark Group NYC. Consortium Brand Partners is advised by Aurify Brands and Winston & Strawn. Eldridge Industries and Convive Brands are advised by Reed Smith, according to press releases.

Constellation Wealth Capital completes the acquisition of a minority stake in DayMark Wealth Partners.

Constellation Wealth Capital, an alternative asset management platform, completed the acquisition of a minority stake in DayMark Wealth Partners, a registered investment advisor serving high net worth individuals, families, and business owners, according to press releases. Financial terms were not disclosed.

DayMark Wealth Partners was advised by Dynasty Investment Bank, Houlihan Lokey, and Katz Teller Brant & Hild. Constellation Wealth Capital was advised by Simpson Thacher & Bartlett (led by Mark Viera), according to press releases and MergerLinks data.

Jordan Partners completes an investment in Vanguard Claims Administration.

Jordan Partners, a growth-focused private equity firm, completed an investment in Vanguard Claims Administration, a third-party administration and independent adjusting platform, according to press releases. Financial terms were not disclosed.

Jordan Partners was advised by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian and Proper Advisory (led by Elizabeth Bing). Vanguard Claims Administration was advised by Evolve Capital Partners and Wiggin and Dana, according to press releases.

XOMA Royalty to merge with Generation Bio for $29m.

XOMA Royalty, the biotech royalty aggregator, agreed to merge with Generation Bio, genetic medicines company that is focused on developing gene therapies, for $29m, according to press releases.

Generation Bio is advised by TD Cowen and WilmerHale. XOMA Royalty is advised by Gibson Dunn & Crutcher, according to press releases.

Carmeuse completes the acquisition of 97.1% stake in Cementos Bío Bío in a $505m deal.

Carmeuse, a Belgian limestone producer, completed the acquisition of 97.1% stake in Cementos Bío Bío, a Chilean cement, concrete, and lime manufacturer, in a $505m deal, according to press releases.

Carmeuse was advised by JP Morgan and BTG Pactual, according to press releases and MergerLinks data.

Evolve Royalties completes the merger with Evolve Strategic Element Royalties.

Evolve Royalties, formerly Voyageur Exploration, a Canadian-based junior mineral exploration company, completed the merger with Evolve Strategic Element Royalties, a royalty and streaming company focused on providing capital to strategic element and base metal mines through innovative royalty and stream contracts, according to press releases. Financial terms were not disclosed.

Evolve Strategic Element Royalties was advised by Fasken. Evolve Royalties was advised by Cassels Brock & Blackwell, according to press releases.

Baker Tilly to acquire Berkowitz Pollack Brant Advisors.

Baker Tilly, an advisory, tax and assurance firm, agreed to acquire Berkowitz Pollack Brant Advisors, an accounting firm in the Southeastern US, according to press releases. Financial terms are not disclosed.

Baker Tilly and Berkowitz Pollack Brant Advisors were advised by Koltin Consulting Group, according to press releases.

Wealth Enhancement completes the acquisition of Spectrum Wealth Management and Putman Group.

Wealth Enhancement, an independent wealth management firm, completed the acquisition of Spectrum Wealth Management, an independent, fee-based wealth management firm, and Putman Group, a full service CPA firm, according to press releases. Financial terms are not disclosed.

Wealth Enhancement was advised by Prosek Partners, according to press releases.

Capstreet-backed Colt Group completes the acquisition of Garrison Enterprise.

Capstreet-backed Colt Group, a provider of innovative solutions and products for smoke control, ventilation, solar shading and climate control projects, completed the acquisition of Garrison Enterprise, a provider of critical line intervention services, according to press releases. Financial terms were not disclosed.

Capstreet was advised by Lambert & Co, according to press releases.

Kimmeridge submits $6bn bid for gas producer Ascent Resources. (Reuters)

Kimmeridge Energy Management has made a $6bn offer to acquire US gas driller Ascent Resources, challenging plans by its private equity owner to restructure ownership. The proposal values Ascent above the $5.5bn level used in an internal stake transfer process.

The bid comes as Energy & Minerals Group seeks to move a stake between funds, with Kimmeridge positioning its offer as a higher-value alternative for control of the company.

Braskem control set to shift as Novonor stake sale advances. (Reuters)

Novonor has signed an agreement that would lead to the sale of its controlling stake in Brazilian petrochemical producer Braskem to private equity firm IG4 Capital. Under the structure, IG4 would share control with state-owned oil group Petrobras.

Novonor would retain a 4% stake following the transaction, marking a significant change in Braskem’s ownership structure.

Chinese portable power company EcoFlow plans US IPO. (Bloomberg)

EcoFlow Technology is planning an initial public offering in the US, marking a rare overseas listing move for a Chinese portable battery maker.

The company, backed by HSG, is working with advisers on the share sale and could raise at least $300m from the offering.

Madison Air files confidentially for US IPO. (Bloomberg)

Madison Air Solutions has filed confidentially for an initial public offering in the US, adding another industrial company to the early-stage IPO pipeline.

The Chicago-based group submitted a draft Form S-1 to the US Securities and Exchange Commission. Deal size and pricing have not been disclosed.

PERENfra raises $142.8m for Perennial Infrastructure Fund I. (Press Release)

PERENfra has completed fundraising for its inaugural Perennial Infrastructure Fund I with $142.8m in committed capital, with backing from investors including Garney Equity Holdings, Ferguson Ventures and family offices.

The fund invests in greenfield and brownfield water infrastructure projects in high-growth regions across the US, focusing on essential water assets.

Jamie Grant said to retire from JPMorgan after four decades. (Bloomberg)

Jamie Grant, global chairman of investment banking at JPMorgan, is set to retire early next year after more than 40 years at the bank, marking the end of a long career at the US lender.

Grant has informed senior management of his plans, according to an internal memo from global banking co-heads Filippo Gori and John Simmons.

EMEA

BC Partners to acquire a majority stake in Fortidia from Oaktree Capital.

BC Partners, a private equity firm, to acquire a majority stake in Fortidia, a global commerce enablement platform, from Oaktree Capital, a global asset management firm, according to press releases. Financial terms were not disclosed.

Fortidia is advised by Jefferies & Company (led by Mauro Premazzi), Gatti Pavesi Bianchi Ludovici (led by Paolo Ludovici), PedersoliGattai and Sidley Austin. BC Partners is advised by Bain Capital, PricewaterhouseCoopers, Facchini Rossi Michelutti, Kirkland & Ellis and Latham & Watkins, according to press releases and MergerLinks data.

Apollo to acquire Prosol from Ardian.

Apollo, an alternative investment manager, agreed to acquire Prosol, the multi-specialist in fresh food businesses and food retail in France, from Ardian, a private equity firm, according to press releases. Financial terms were not disclosed.

Apollo is advised by Lazard, RBC Capital Markets, UBS, Cleary Gottlieb Steen & Hamilton, Paul Weiss Rifkind Wharton & Garrison and Sidley Austin. Prosol is advised by JP Morgan, according to press releases and MergerLinks data.

Ipsen completes the acquisition of ImCheck Therapeutics from EQT Life Sciences for €1bn.

Ipsen, a biotechnology company, completed the acquisition of ImCheck Therapeutics, a private French biotech company, from EQT Life Sciences, a private equity firm, for €1bn ($1.17bn), according to press releases.

ImCheck Therapeutics was advised by Centerview Partners and Dentons (led by Olivia Guéguen). Ipsen was advised by A&O Shearman, according to press releases and MergerLinks data.

Nscale completes the acquisition of Future-Tech.

Nscale, a provider of cloud computing services and infrastructure, completed the acquisition of Future-Tech, a data centre engineering consultancy company, according to press releases. Financial terms were not disclosed.

Future-Tech was advised by James Cowper Kreston, according to press releases.

Oaktree-backed Pure Data Centres plans €1bn Amsterdam hyperscale project. (Reuters)

Pure Data Centres plans to invest up to €1bn ($1.17bn) in a hyperscale data centre campus in Amsterdam, marking one of Europe’s largest such projects this year. The development is expected to be leased to a single large cloud-services tenant.

The project reflects accelerating investment in AI-related infrastructure as major cloud providers expand capacity to meet rising demand for computing power.

Shell seeks buyers for stake in Germany’s Schwedt refinery. (Reuters)

Shell is seeking buyers for its stake in Germany’s PCK Schwedt oil refinery, aiming to exit an asset affected by Western sanctions on Russia and Germany’s fuel security needs.

The refinery supplies a significant share of Berlin’s fuel demand and is majority-owned by Rosneft, which holds 54.17%. Germany removed Rosneft’s control after Russia’s invasion of Ukraine.

APAC

KKR to invest a $220m in Premialab.

KKR, an investment firm, agreed to invest a $220m in Premialab, an independent platform providing data, analytics, and risk solutions on systematic and multi-asset strategies, according to press releases.

Premialab is advised by Rothschild & Co and A&O Shearman. KKR is advised by Gibson Dunn & Crutcher, according to press releases.

Affinity explores sale of stake in Plaza Premium Group. (Bloomberg)

Affinity Equity Partners is exploring a sale of its stake in airport hospitality firm Plaza Premium Group, as part of a potential transaction involving external investors.

The Hong Kong-based company is being marketed to potential buyers, including private equity firms, at a valuation of about $1bn.

TotalEnergies to sell stake in Malaysian gas block to PTTEP. (Reuters)

TotalEnergies has agreed to sell an indirect stake of almost 10% in a Malaysian offshore gas block to Thailand’s PTTEP for an undisclosed sum. The French oil major will retain a 30.002% interest in Block SK408 after the deal closes.

The block hosts the Jerun gas field, which supplies the 29.3 million-metric-ton per year Bintulu LNG complex operated by Petronas.

Philippine wealth fund to invest in port operator Asian Terminals. (Bloomberg)

Maharlika Investment plans to acquire a minority stake in Asian Terminals, the Philippines’ second-largest port operator, which runs ports in Manila and several provinces.

The sovereign wealth fund agreed to purchase an 11.2% stake for PHP3.64bn ($61.8m). Shares in Asian Terminals were suspended from trading following the announcement.

Longreach explores sale of Wendy’s Japan business. (Bloomberg)

Longreach Group is exploring a sale of its majority stake in Wendy’s First Kitchen, the Japanese hamburger chain formed through the combination of Wendy’s Japan and First Kitchen.

The private equity firm acquired Wendy’s Japan in 2016 and took control of First Kitchen as part of the transaction. The process targets potential buyers for the combined business in Japan.

Zepto plans $500m India IPO filing. (Bloomberg)

Zepto plans to file for an initial public offering of about $500m in Mumbai, as competition intensifies in India’s quick-commerce market.

The grocery delivery company is preparing a confidential draft prospectus for the listing and is working with Axis Bank, Motilal Oswal Investment Advisors, and the local units of Morgan Stanley, HSBC and Goldman Sachs.

Bjak founder weighs IPO as insurtech expands overseas. (Bloomberg)

Bjak, Malaysia’s online insurance aggregation platform, is considering an initial public offering within the next two years as it accelerates its international expansion.

The company plans to enter European markets including Spain and Germany in 2026, following recent moves into Japan, Taiwan and Thailand, founder Wei Low said.

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