CSL, a biotechnology company, agreed to acquire Vifor Pharma, a pharmaceuticals company, for $11.7bn.
“Vifor Pharma's strategy has been to focus towards continuing being a market leader in iron deficiency, nephrology and cardio-renal therapies. The offer provides an excellent strategic opportunity for Vifor Pharma to optimize future market opportunities from a position of strength and to create substantial value for all stakeholders," Jacques Theurillat, Vifor Pharma Chairman.
CSL is advised by Bank of America, Credit Suisse, Goldman Sachs, Gresham, PJT Partners, Homburger, Simpson Thacher & Bartlett, Citadel Magnus, IRF Communications and Kekst CNC. Vifor Pharma is advised by Centerview Partners, Bar & Karrer, IFBC and Dynamics Group.
Baxter, a firm that develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, completed the acquisition of Hillrom, a medical technology company, for $10.5bn.
The Baxter-Hillrom combination unlocks the next phase of our transformation, presenting a new wave of potential to drive greater impact for patients, clinicians, employees, shareholders and other communities we serve worldwide. Integrating our complementary capabilities introduces additional opportunities for growth across our broad geographic footprint and also creates remarkable new possibilities for connectivity with leading-edge digital health innovation focused on enhancing care, lowering costs and increasing workflow efficiency," José E. Almeida, Baxter Chairman, President and CEO.
Hillrom was advised by Bank of America, Goldman Sachs, Wachtell Lipton Rosen & Katz and Joele Frank. Financial advisors were advised by Cravath Swaine & Moore and Fried Frank Harris Shriver & Jacobson. Baxter was advised by Citigroup, JP Morgan, Perella Weinberg Partners and Sullivan & Cromwell.
Rentokil Initial, a pest control services provider, agreed to acquire Terminix, a pest control products manufacturer, for $6.7bn.
“The Board of Rentokil Initial and I are delighted to recommend this transformational combination which will create the global leader in pest control and hygiene & wellbeing. Under Andy Ransom’s leadership, our combined group will have a highly talented and experienced management team able to more effectively create value and enhance long-term growth. We believe the combination is a compelling opportunity for all stakeholders to participate in the value creation of the combined group.” Richard Solomons, Rentokil Initial Chairman.
Terminix is advised by Lazard, Macfarlanes, Wachtell Lipton Rosen & Katz and Joele Frank. Rentokil is advised by Barclays, Goldman Sachs, Davis Polk & Wardwell, Freshfields Bruckhaus Deringer and FTI Consulting.
NuScale Power, a designer and marketer of small modular reactors, agreed to go public via a SPAC merger with Spring Valley Acquisition, a special purposes acquisition company, in a $1.9bn deal. PIPE investors include Samsung C&T, DS Private Equity, Segra Capital Management, Pearl Energy, Doosan Heavy Industries and Construction, JGC Holdings, IHI, Enercon Services, GS Energy, Sarens and Sargent & Lundy.
“The scale of our ambition is only matched by the world’s enormous decarbonization needs, and now is the right time to accelerate and expand our efforts to bring our trailblazing SMR technology to more customers around the world. Spring Valley will be a highly complementary strategic partner for NuScale as we enter this next phase of growth, with leadership that brings deep expertise in sustainable energy and a strong operating and investment record in the energy sector, including in nuclear power," John Hopkins, NuScale President and CEO.
NuScale Power is advised by Guggenheim Partners, Gibson Dunn & Crutcher, Stoel Rives and Blueshirt Group. Spring Valley Acquisition is advised by Cowen & Company, Guggenheim Partners, Kirkland & Ellis and White & Case.
Hard Rock International, a hospitality and entertainment company, agreed to acquire The Mirage Hotel and Casino, a hotel and casino, from MGM Resorts International, a hotel and casino chain operator, for $1bn.
"We are honored to welcome The Mirage's 3.5k team members to the Hard Rock family. When complete, Hard Rock Las Vegas will be a fully integrated resort welcoming meetings, groups, tourists and casino guests from around the world to its nearly 80 acre center-Strip location," Jim Allen, Hard Rock International Chairman.
Hard Rock is advised by Barclays, Fox Rothschild, Jones Day and McDonald Carano. MGM Resorts is advised by Bank of America, PJT Partners and Weil Gotshal and Manges.
NEOGEN, an international food safety company, agreed to acquire 3M's food safety business, for $1bn.
"This combination will enhance NEOGEN's position in this new era of food security, equipping us with an expanded product line that enables us to capitalize on our growing footprint, reaching more customers, more often, while continuing our track record of strong and consistent growth. We're excited to welcome 3M's Food Safety employees to the NEOGEN team, and we're looking forward to demonstrating the immense benefits of this combination to our customers, employees and shareholders," John Adent, NEOGEN President and CEO.
NEOGEN is advised by Centerview Partners, Weil Gotshal and Manges and Brunswick Group. 3M is advised by Goldman Sachs and Wachtell Lipton Rosen & Katz. Debt financing was provided by Goldman Sachs and JP Morgan.
MidOcean Partners, a private equity firm, completed the acquisition of GHR Healthcare, a healthcare staffing services provider. Financial terms were not disclosed.
“We are excited to partner with MidOcean to drive outsized growth for the GHR platform. MidOcean has an impressive track record in executing transformational growth and brings deep expertise in the healthcare and staffing markets that will enhance our ability to better serve our customers and our employees while supporting our market expansion goals," John Quirk, GHR Healthcare CEO.
GHR Healthcare was advised by Houlihan Lokey and Willkie Farr & Gallagher. MidOcean Partners was advised by Gibson Dunn & Crutcher and Gasthalter & Co.
Parthenon Capital Partners, a private equity firm, agreed to acquire Kroll Bond Rating Agency, a full-service rating agency, for $900m.
“When KBRA was founded, our mission was to provide the market with timely, valuable, and transparent ratings and research. Over the past 11 years, KBRA has set the standard for engagement with investors, which has led to our leadership position across many markets. This investor engagement and outreach has also led to KBRA’s acceptance and reliance among issuers, policymakers, and key opinion leaders. As we continue to expand both domestically and abroad, we are excited to partner with Parthenon to accelerate our future growth," Jim Nadler, KBRA CEO, President, and Co-Founder.
Parthenon Capital is advised by Newbold Partners and Kirkland & Ellis. KBRA is advised by Gunderson Dettmer Stough Villeneuve Franklin & Hachigian and Shearman & Sterling.
Avanos Medical, a medical technology company, agreed to acquire OrthogenRx, a company specializing in treatment of knee osteoarthritis, for $160m.
"The acquisition of OrthogenRx enhances our chronic pain portfolio by providing continuum of care treatment options for patients living with knee OA. This business is a clear strategic fit for Avanos, and one that will further strengthen our relationships with healthcare providers as we seek to become their preferred partner in treating musculoskeletal pain," Joe Woody, Avanos CEO.
OrthogenRx is advised by Canaccord Genuity and Blank Rome. Avanos Medical is advised by Alston & Bird.
Sixth Street, an investment firm, led a $165m funding round in SnapLogic, a company specializing in enterprise automation.
“The enterprise automation market is booming, and our latest funding is further validation of our growing momentum and product leadership in that space. Unlike point-to-point players, our focus on the enterprise will unlock the power of applications, data, and APIs. In the post-pandemic era, our customers will use AI and automation to revolutionize their hybrid workforces. With SnapLogic, hybrid- and multi-cloud enterprises can ensure their massive investments in public and private clouds, SaaS, cloud data warehousing, and APIs will pay off," Gaurav Dhillon, SnapLogic CEO.
Kelso & Co, a private equity firm, completed an investment in ReSource Pro, an insurance services provider. Financial terms were not disclosed.
The partnership between Kelso and ReSource Pro will enable the company to continue its long-term growth strategy, adding expertise and resources to enhance client value and expand its global operations. ReSource Pro will continue to operate as an independent, privately held entity and maintain its management team.
“We are thrilled to partner with the ReSource Pro team. ReSource Pro is highly differentiated in its market, which is a testament to the company’s unique value proposition and deep understanding of the insurance industry,” said Chris Collins, managing director of Kelso. “We are excited to support the ReSource Pro team with expertise and capital as they accelerate their already impressive growth trajectory in a highly attractive market,” Steve Dutton, Kelso Managing Director.
ReSource Pro was advised by Lincoln International. Kelso was advised by Debevoise & Plimpton.
Organon, a healthcare company, completed the acquisition of Forendo Pharma, a drug development company, for $954m.
“Despite the high prevalence of endometriosis, current treatment options are not adequately addressing the painful and challenging symptoms of women living with this disorder. Through our acquisition of Forendo, we hope to bring innovation to this therapeutic area and enable future treatment options – in line with our continued focus on building a robust pipeline that addresses a broad spectrum of conditions impacting women," Sandra Milligan, Organon Head of Research & Development.
Chart Industries, a manufacturer of liquefaction and cryogenic equipment, completed the acquisition of a 85% stake in Earthly Labs, a provider of technology that is designed to capture carbon dioxide waste, for $62m.
“Earthly Labs’ small-scale carbon capture solution is a natural fit for our portfolio given the complementary end markets, sustainable portfolio and customers that need CO2 in the production and packaging of beer, wine, cannabis and food. Not only is it a natural fit, since our original investment earlier this year, Earthly Labs’ products have been ordered for numerous new geographies and end markets, resulting in a record year for the business. With the natural synergies and pull-through to our global customers, we see significant growth potential by having this offering in our expanded cryogenic carbon capture solution set," Jill Evanko, Chart CEO and President.
H.I.G. Capital, a private equity firm, completed an investment in Rising Pharmaceuticals, a provider of generic and specialty pharmaceuticals. Financial terms were not disclosed.
"We are excited to partner with Vimal Kavuru and Rising Pharmaceutical’s exceptional management team. As partners, we look forward to supporting Vimal and his team to further build upon Rising Pharmaceutical’s tremendous success. We see a major opportunity in the broader U.S. generic pharmaceutical industry, and the Company’s track record of identifying, developing and launching complex pharmaceutical products should create an exciting next chapter for Rising Pharmaceuticals," Mike Gallagher, H.I.G. Capital Managing Director.
ICF, a consulting and digital services provider, agreed to acquire Creative Systems and Consulting, a provider of IT modernization. Financial terms are not disclosed.
"This transaction is aligned with our strategy of pairing organic growth with select acquisitions that strengthen ICF's position in key growth markets. Creative's expertise in cloud development considerably expands our qualifications in the federal IT modernization/digital transformation arena, and the company has delivered flagship work with many civilian agencies that have been long-standing clients of ICF, including the US Department of Health and Human Services, the US Department of Agriculture and the US Department of Treasury. We expect this acquisition to provide significant opportunities for revenue synergies over time as ICF now will offer leading practices supporting the most highly adopted low-code/no-code platforms in the federal government. Importantly, the cultural fit is excellent, highlighted by a shared commitment to delivering value to clients while making a difference in the communities we serve," John Wasson, ICF Chairman and CEO.
Creative Systems and Consulting is advised by Robert W Baird.
Gildan Activewear, a manufacturer of everyday basic apparel, completed the acquisition of Frontier Yarns, a producer of 100% cotton, polyester, and cotton blend yarns, for $168m.
“As a long-time trusted yarn supplier of Gildan, with a dedicated and experienced workforce, we are delighted to welcome Frontier into the Gildan family. In line with our business model of investing in global manufacturing, the acquisition of Frontier’s operations broadens and complements our existing yarn capabilities and provides additional yarn capacity to support long-term growth," Glenn Chamandy, Gildan President and CEO.
Orillion, an investment firm, led a $57m Series B round in Apex.AI, a software for autonomous mobility. Additional investors included ZF, Continental, AGCO, Jaguar Land Rover’s InMotion Ventures, Airbus Ventures, Toyota Ventures, Hella Ventures, Volvo Group Venture Capital, Canaan and Lightspeed.
"We have great support from industry partners who have a concrete problem to solve and understand we are providing an efficient, safe, reliable solution. In addition, financial investors see an overall industry trend toward efficient and sustainable software for mobility applications. We couldn’t be happier with our amazing community of partners and customers supporting us after just four years!" Jan Becker, Apex.AI CEO.
Rocket Lab, a company specializing in launch services and space system, agreed to acquire SolAero, a supplier of space solar power products, for $80m.
“SolAero is a highly complementary addition to Rocket Lab’s vertically integrated business model and strengthens our ability to streamline space for our customers by delivering complete space mission solutions. SolAero has established itself as a premier provider of solar technologies, enabling trailblazing missions that have expanded scientific horizons and advanced commercial space. By combining our innovative teams, industry-leading technologies, and strong resources, we can advance space exploration and enable our customers to push the boundaries of what’s possible in orbit. We are absolutely thrilled to welcome the SolAero team to the Rocket Lab family," Peter Beck, Rocket Lab Founder and CEO.
Bio-Techne, a life sciences company, agreed to acquire a 20% stake in Wilson Wolf, a developer and manufacturer of cell culture technologies. Financial terms are not disclosed.
"The explosive growth in cell and gene therapy is reminiscent of the monoclonal antibody field that Bio-Techne was founded on. CGT's lifesaving technology is now being touted as the 4th pillar of cancer treatment. The key to CGT lies in manufacturing simplicity, and we believe Wilson Wolf's G-Rex technology has the necessary attributes to bring CGT manufacturing to the simplest state while delivering the most robust cancer killing cells," Chuck Kummeth, Bio-Techne President and CEO.
Shell, a multinational oil and gas company, agreed to acquire Savion, a solar and energy storage developer, from Green Investment, a specialist in green infrastructure principal investment. Financial terms are not disclosed.
“Savion’s significant asset pipeline, highly experienced team, and proven success as a renewable energy project developer make it a compelling fit for Shell’s growing integrated power business. As one of the fastest-growing, lowest-cost renewable energy sources, solar power is a critical element of our renewables portfolio as we accelerate our drive to net zero," Wael Sawan, Shell Integrated Gas and Renewables & Energy Solutions Director.
Musk sells Tesla shares worth $906m.
Tesla CEO Elon Musk has sold another 934k shares of the electric vehicle maker worth $906m to cover taxes on the exercise of 2m options, Reuters reported.
He also exercised stock options to buy 2m shares of Tesla. The Tesla CEO has been selling stock at a rapid rate since asking his Twitter followers whether he should sell 10% of his stake in the world's most valuable car company, and receiving a resounding "yes" in reply.
Facebook owner is behind $60m deal for Meta name rights.
Meta Platforms, the owner of social media network Facebook, is behind a $60m deal to acquire the trademark assets of US regional bank Meta Financial Group, Reuters reported.
The deal underscores how valuable the Meta name has become for the technology giant, which is betting that its focus on the metaverse - shared digital spaces accessed via the internet through an array of devices - will pay off handsomely in the coming years.
EnCap merges two Permian oil producers in about $4bn deal. (FS)
EnCap Investments has combined two of its portfolio companies in the Permian basin, creating an oil producer worth more than $4bn including debt that the private equity firm wants to take public as soon as next year, Reuters reported.
The energy-focused investment firm has merged Advance Energy Partners and Ameredev II, which both operate in the Delaware portion of the Permian - the region of Texas and New Mexico considered the heart of the US shale industry, where output is expected to exceed 5m barrels per day in January for the first time ever.
Vox Media in advanced talks to buy thrillist owner Group Nine.
Vox Media agreed to acquire Group Nine Media in an all-stock deal, putting New York magazine, The Verge and Eater under the same roof as websites including PopSugar and Thrillist, Bloomberg reported.
The deal between the closely held companies will close in early 2022. Financial terms weren’t disclosed. The transaction doesn’t involve Group Nine Acquisition, a separate blank-check company that had been created for potential media deals.
Triller owner in merger talks to go public.
TrillerNet, the owner of short video app Triller, is in talks to go public through a merger with Seachange International, Reuters reported.
As part of the deal, investors have committed to invest $250m at a valuation for TrillerNet of $5.1bn. The transaction could be announced as soon as this week. The source cautioned that talks could fall apart at the last minute.
Grupo SURA will not participate in Nutresa offer, deadline extended.
Grupo SURA, Colombia's largest holding company, said it will not participate in a public acquisition offer led by Grupo Gilinski for food producer Grupo Nutresa, as the deadline for the sale was extended, Reuters reported.
Grupo Gilinski and Abu Dhabi's Royal Group want to buy between 50.1% and 62.625% of circulating shares in Nutresa for up to $2.2bn via their joint NUGIL vehicle.
Ares raises $8bn fund in private-credit arms race. (FS)
Ares Management has raised $8bn for a fund making direct loans to small and midsize US companies, escalating a fight between alternative-asset managers for market share in the burgeoning private-credit market.
Asset-management firms including Apollo Global Management, Ares and Blackstone are increasingly turning to credit funds to boost assets under management, a key driver of their stock valuations.
Level Equity raises $1.125bn for new equity funds. (FS)
Level Equity Management, announced final closings of Level Equity Growth Partners V and Level Equity Opportunities Fund 2021, securing $775m and $350m respectively in aggregate commitments. Level has raised $3bn across 10 investment funds and co-invest vehicles since 2011 for their three business lines – core growth equity, opportunistic growth, and structured growth.
Level also announced several promotions. Gautam Gupta was promoted to Partner, Chris Isaac to Principal, David Fleishman and Luis Spradley to Vice President, and Austin Feinstein, Vincent Liberi, and Jake Rudolph to Senior Associate. Gautam joined Level in 2015 from Vista Equity Partners where he worked prior to and after receiving his MBA from The Wharton School. Chris joined Level in 2011 as part of the firm’s first analyst class after graduating from the Stern School at New York University.
Pelion Venture Partners close Pelion Venture Partners Fund VII at $365m. (FS)
Earlier this month, Pelion Venture Partners announced the October closure of their Pelion Venture Partners Fund VII at $365m, exceeding their initial target of $250m. Greenstone Equity Partners, the largest licensed fund placement firm in the Middle East, supported Pelion Venture Partners in achieving fund closure by raising capital from its network of GCC-based institutional investors.
“Our vision for Pelion is becoming a reality, with the Pelion Fund VII beating our original capital raise targets. We saw increased appetite for this fund from the GCC markets and the team at Greenstone were instrumental in driving our capital raising efforts across the region,” Blake Modersitzki, Pelion Venture Partners General Partner.
National Express, a public transport operator, agreed to acquire Stagecoach, a bus operator, for $2.5bn.
"We are proud to have served communities across the UK for over 40 years and combining our business with National Express will provide us with new exciting opportunities. It will enable us to offer more services to more people and continue investing in improvements for customers," Stagecoach.
National Express is advised by PricewaterhouseCoopers, Bank of America, HSBC, Ashurst and Maitland. Stagecoach is advised by Deutsche Bank, RBC Capital Markets, Herbert Smith Freehills and Smithfield Consultants.
Silver Lake, a private equity firm, completed a $388m investment in Software, an enterprise software company.
“With Silver Lake as our partner, we welcome a world-leading technology investor that has a proven track record of creating value in software companies as they drive growth. The combination of Silver Lake’s expertise and network and our Helix transformation will help us further capitalize on our rapidly expanding market opportunity. Silver Lake’s investment represents a strong endorsement of our strategy, our team and our future growth potential," Sanjay Brahmawar, Software CEO.
Silver Lake was advised by Skadden Arps Slate Meagher & Flom and Edelman. Software was advised by JP Morgan, Clifford Chance and FTI Consulting.
Snam, an energy infrastructure operator, agreed to acquire biomethane assets from Asja Ambiente, a renewable energy solutions provider, for $113m.
This transaction relates to the acquisition of four companies that own recently-built operating plants located in Liguria, Lazio and Umbria, with an expected useful life of 20 years, and the entry into a company owning a plant under construction and one under development in Sicily.
KKR completed the acquisition of a minority stake in international technology group Korber’s supply chain software business. Financial terms were not disclosed.
“I’m excited about this strategic partnership and the tremendous business opportunities evolving out of it. It is in Körber’s DNA to identify and develop attractive growth areas. With our supply chain software offerings, we strive to have a rich end-to-end application suite that provides enhanced software solutions to our customers all around the world. With KKR we have found a great business partner to accelerate our growth for supply chain software across additional products and regions. Always with one clear vision: market leadership through technology leadership for the benefit of our customers," Stephan Seifert, Korber CEO.
FTI Consulting, a business advisory firm, agreed to acquire BOLD, a digital and transformation advisory firm. Financial terms are not disclosed.
“We are delighted to welcome the BOLD team to FTI Consulting. We are so pleased to attract a powerful team with a great reputation in the Netherlands, a geography where we have not historically had a substantial presence. Combining this group with the powerful global network that we have been investing in will, we believe, allow us to even better serve our clients with their most critical challenges and opportunities," Steven Gunby, FTI Consulting President and CEO.
The shareholders of Budapest Airport have stopped the due diligence process over the possible sale of the airport to the Hungarian government, Reuters reported.
Prime Minister Viktor Orban unexpectedly said Budapest had put off the planned airport deal until after next year's parliamentary elections due to high inflation and volatility in global financial markets. Orban's government earlier this year expressed its interest in buying a majority stake in Hungary's main international airport saying its past privatisation had been against the country's "strategic interests".
Equinor seeks $1bn from North Sea oilfield stake sale.
Equinor, a Norwegian energy group, plans to sell a stake in its Martin Linge oilfield in the North Sea, hoping to raise more than $1bn, Reuters reported.
The sale is aimed at reducing Equinor's large stake in the field and take advantage of strong demand for Norwegian oil and gas assets.
Investment firm Coller Capital explores sale. (FS)
Coller Capital, one of the world’s biggest investors in private equity fund interests, is exploring options that include a sale of the business.
Coller has been working with an investment bank as it mulls divesting a stake or the entirety of the company. They added that Coller’s $26bn in assets under management could be valued in line with its peer Lexington Partners, which is of similar size and agreed last month to be acquired by money manager Franklin Resources for $1.75bn.
Italy's Carige shares surge as search for buyer intensifies. (FS)
Italy's depositor protection fund FITD, the main investor in Carige, is stepping up efforts to find a merger partner for the bailed-out lender sending the bank's shares up more then 8%.
FITD, funded by contributions from Italian banks, is looking for potential suitors to draw a line under Carige's troubles by selling the 80% stake it holds after rescuing it in 2019.
Bristol Myers Squibb to acquire rights to IMA401 of Immatics for $920m.
Bristol Myers Squibb, a global biopharmaceutical company focused on discovering, developing and delivering innovative medicines for patients with serious diseases, agreed to acquire exclusive rights to an experimental immunotherapy of Immatics, a clinical-stage biopharmaceutical company, for $920m.
"Bristol Myers Squibb's global clinical development and commercialization capabilities in oncology make them the ideal partner for the further development of IMA401," Carsten Reinhardt, Immatics Chief Development Officer.
Russian car-sharing firm Delimobil still eyeing IPO.
Delimobil, a Russian car-sharing company, reported an 89% jump in revenue in the third quarter to $53m, and said it was still eyeing a public market listing after postponing its US IPO plans last month, Reuters reported.
At least 10 Russian firms could hold IPOs in 2022, extending a listing spree that started a year ago, if their plans are not thwarted by geopolitics, including Ukraine tensions, or other risks, according to bankers and advisers.
Taaleri launches a private equity fund focusing on bioindustry. (FS)
The investment and asset manager Taaleri launches Taaleri Bioindustry I fund, which focuses on bioindustry. This is Europe's first private equity fund to focus purely on bioindustry projects. It is also one of Finland's first private equity funds to be classified as dark green, ie funds under Article 9 of the EU’s Sustainable Finance Disclosure Regulation. The fund only makes sustainable investments in projects that, for example, contribute substantially to climate change mitigation. The fund also reports extensively on the sustainability impact of its investments.
Taaleri Bioindustry I will invest in industrial-scale production facilities that can accelerate the scaling of bioindustry production. Products can be, for example, bio- and recycled fibers, organic fertilizers, functional biomaterials and recycled materials to replace virgin products.
Wise Road Capital, a private equity firm, and Magnachip Semiconductor, the South Korean display and power solutions provider, terminated the $1.4bn deal.
"While we are disappointed by the termination of our merger agreement, we are confident that Magnachip remains well positioned to create value for our shareholders as an independent public company. This outcome does not impact the sound long term fundamentals of our business and our ability to accelerate our MX 3.0 strategy. I would like to thank our customers for their ongoing trust and Magnachip's employees for their commitment to delivering industry-leading products," YJ Kim, Magnachip CEO.
Afterpay, a buy now pay later firm, said its $29bn buyout by Block, previously known as Square, got overwhelming support from shareholders, with 99.79% of the proxy votes cast in favour of the deal, Reuters reported.
Afterpay delayed the vote earlier this month as payments firm Block awaited regulatory approval from the Bank of Spain. While Block has still not got the approval, Afterpay said it got court orders to hold a meeting to amend the conditions of the deal.
Afterpay is advised by Goldman Sachs, Highbury Partnership, Qatalyst Partners, Bell Gully, Cravath Swaine & Moore, Gilbert + Tobin, Jones Day. Square is advised by Morgan Stanley, King & Wood Mallesons, Russell McVeagh, Wachtell Lipton Rosen & KatzGibson Dunn & Crutcher, Joele Frank and SEC Newgate.
BGH Capital, a private equity firm, agreed to acquire Virtus Health, a healthcare services provider, for $431m.
Virtus said the proposal also provided a cash and scrip alternative to major fertility specialist shareholders and certain other affiliated shareholders, so they can continue to hold an investment in the company.
Virtus Health is advised by Jefferies & Company and Gilbert + Tobin.
Flipkart, an e-commerce company, and Walmart, a retail corporation, completed a $145m investment in Ninjacart, a fresh produce supply chain company.
"As a homegrown company, we have constantly focused on creating the right infrastructure and technological solutions that support local farmers, producers, and food processors. With this investment, we are further able to strengthen our grocery footprint and offering as consumers across the country throng to e-grocery for quality and affordable options in the fresh category," Kalyan Krishnamurthy, Flipkart Group CEO.
India's Aditya Birla Fashion to buy exclusive rights to Reebok in India.
India's Aditya Birla Fashion and Retail said on Tuesday it would buy exclusive rights to sell global sportswear brand Reebok's products both online and offline in the Indian market, Reuters reported.
The deal will be effective once the global ownership of the Reebok brand is transferred from Adidas to Authentic Brands Group under a $2.46bn acquisition announced in August.
Brookfield in talks to buy Australia smart meter firm Intellihub stake. (FS)
Brookfield Asset Management is in talks for a deal to acquire a stake in Australian energy metering business Intellihub Group, Bloomberg reported.
The private equity firm is the likely winner of an auction to buy an interest in the residential energy metering firm from its existing Australian backers Pacific Equity Partners. A deal could be announced as soon as this week. Intellihub could fetch an enterprise value of about $2.1bn in a deal.
FWD Group raises $1.4bn ahead of IPO.
Asia-focused insurer FWD Group has raised $1.4bn via a private placement of shares, ahead of its long-planned IPO, Reuters reported.
A decision to shift to Hong Kong was made after regulatory approval for FWD's planned US IPO of $2bn to $3bn was delayed. The company received preliminary approval last week from the SEC to carry out a marketing roadshow to investors but still required full sign-off from regulators.
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