M7 Group, one of Europe’s leading pay-TV providers, and a subsidiary of Astorg Partners has reached an agreement to buy the DTH satellite TV operations from Liberty Global currently serving four Eastern European markets (Hungary, Romania, Czech Republic, and Slovakia). Financial terms were not disclosed.
This is a very logical acquisition for us, allowing us to consolidate the satellite TV activities of Skylink in the Czech and Slovak markets, while further diversifying our European footprint into two new markets. In addition, we will be able to roll out our hybrid satellite and OTT TV platform in those two new markets. In our existing markets, the OTT platform is already used by circa 15-20% of the base.” Hans Troelstra, M7 Group CEO.
M7 Group was advised by LionTree, Solon, PwC, Paul Hastings, Allen & Overy, and Clifford Chance. Liberty Global was advised by BofA Merrill Lynch.
SSE has reached an agreement to sell a 50% share of its SSE Enterprise Telecoms business to Infracapital for a total consideration of up to £380m ($481m).
SSEET is an infrastructure provider that delivers leading-edge connectivity services to businesses through its private UK-wide telecoms network. It is committed to helping the UK realise its digital ambitions through infrastructure investment and innovation.
“High-speed connectivity is vital to economic growth and prosperity, and we are delighted to announce this partnership with SSE. SSE Enterprise Telecoms is an established telecoms infrastructure provider, with a 12,000km fibre network, and is well positioned to support growth in this critical sector. Infracapital has considerable expertise of investing in digital infrastructure, and we look forward to working closely with our new partners." James Harraway, Infracapital Director.
Caledonia Investments has agreed to acquire a significant minority stake in Stonehage Fleming, one of the world’s leading international family offices. Financial terms were not disclosed.
“Stonehage Fleming is a highly successful firm with an outstanding, award-winning proposition and a client-centric approach. The Group has a rich history and a culture of continuous innovation and adaptation, and we have been impressed with the clarity of vision of their strategy and wanted to back them as they further consolidate their leading position in the family office arena. Caledonia had a very successful investment in Robert Fleming Holdings in the decade up to its acquisition by Chase Manhattan Bank in 2000, and we are delighted to have again become involved in its successor business." Duncan Johnson, Caledonia Head of Unquoted Investments.
KKR launched a $493m takeover offer for Telepizza.
KKR has launched a $493m takeover offer for Spain’s Telepizza after buying around a quarter of the fast-food restaurant chain’s shares. KKR plans to de-list the company after the $7 per share buyout.
The US private equity firm has secured commitments from holders of 12.7% of Telepizza’s shares to take part in the offer, bringing its stake above the regulatory threshold of 30%, which would trigger a mandatory takeover bid.
Barclays, Citigroup, and Santander will provide financing for the transaction.
Partnership Capital, backed by Inflexion, invested in UKFast.
Inflexion Private Equity has completed a minority investment in UKFast; a UK cloud hosting provider. The deal sees the firm valued at £405m ($511m).
"UKFast has proven itself as a market leader, with its 350 strong team providing exemplary levels of customer service alongside superior technical performance. Acknowledging the industry’s increasing appetite for public cloud, UKFast’s management launched ClearCloud in 2018, thereby enhancing its offering to existing clients as well as opening the door to new ones. We look forward to working with management to support them to accelerate growth." Simon Turner, Inflexion Managing Partner.
Total explores a potential $1.5bn sale of its British North Sea assets.
The French energy giant is in advanced talks with Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets.
According to Reuters, Total is set to sell a third of its stake in the Laggan Tormore gas field along with other oil and gas assets the North Sea that could fetch a total of $1.5bn.
Polish Development Fund-led consortium is exploring the acquisition of DCT Gdansk port terminal from Macquarie for about €1.5bn.
A consortium of investors including Poland’s sovereign wealth fund PFR is close to buying the country’s DCT Gdansk port terminal, owned by the infrastructure fund of Australia’s Macquarie.
Macquarie launched the sale of the Polish port terminal, which could be valued at around €1.5bn ($1.7bn), over the summer with the help of Goldman Sachs.
The winning consortium also includes Australian infrastructure group IFM Investors and the world’s largest port operator PSA international.
Sweden’s national pension fund AP1 exits Volvo.
Sweden’s national pension fund AP1 has sold its preference shares in Volvo Cars after concluding it saw no clear intention to list within the next 12 months from the Geely-owned carmaker.
Swedish insurance and savings group Folksam and pension fund investor AMF said on Friday they had each had bought AP1’s preference shares for a nominal 750m Swedish crowns ($84m).
ENEL is close to selling a $229m stake in EF Solare to F2i.
Enel and F2i currently own 50% each of EF Solare, Italy’s biggest solar power operator with more than 400 megawatts of installed capacity across 130 plants.
In July F2i, an infrastructure fund partly owned by state lender CDP said it had expressed its intention to acquire Enel’s stake.
AMERICAS
Digital Realty Trust completed a $1.8bn acquisition of Ascenty from Great Hill.
Digital Realty Trust, a leading global provider of data center, colocation and interconnection solutions, completed the acquisition of Ascenty, a leading data center provider in Brazil, from Great Hill Partners in a transaction valued at approximately $1.8bn.
"This transformative transaction represents consistent execution against the new market strategy we articulated at our Investor Day last December and immediately establishes us as a market leader within a historically under-served region poised for rapid growth. We are also gratified to partner with Brookfield on this transaction, leveraging their extensive experience as a regional investor and operator. This acquisition advances our strategy of sourcing strategic and complementary assets to strengthen and diversify Digital Realty's data center portfolio and expand our product mix and global footprint." Bill Stein, Digital Realty CEO.
Ascenty was advised by DH Capital and Choate Hall & Stewart. Digital Realty was advised by BofA Merrill Lynch, and Latham & Watkins. Brookfield Group provided financing for the transaction.
Northill Capital has agreed to purchase a majority stake in leading outsourced CIO business, Strategic Investment Group by acquiring the equity interest previously held by FFL Partners. Financial terms were not disclosed.
“Strategic Investment Group is the gold standard independent investment firm in the OCIO/Solutions sector with a track record of success spanning over three decades. Strategic’s investment-led approach and belief in value creation through active management is highly complementary to Northill’s approach and brings diversification to our investment portfolio." Jon Little, Northill Capital Partner.
Strategic Investment Group was advised by Morgan Stanley.
United Road Services, backed by Carlyle, announced the acquisition of Colorado-based Fleet Car Carriers. Financial terms were not disclosed.
Fleet Car Carriers is an owner-operator trucking service for the new car market, employing more than 500 independent contractors at 35 terminals in the US.
"The companies' geographic territories are complementary. United Road will be much stronger in several regions of the US going forward. When integrated, we will also have a national network of company-owned maintenance facilities that will further support our goals of on-time vehicle delivery and driver safety." Kathleen McCann, United Road Chair and CEO.
Apollo is in talks to acquire Ingram Micro from HNA Group for up to $7.5bn.
Ingram Micro is a leading distributor of information technology products. The company has been constantly ranked in the first 100 of the Fortune 500 list.
HNA Group is in talks to sell Ingram Micro to Apollo Global Management, as the Chinese conglomerate continues to scale back operations.
HNA hopes to sell the US electronics distributor for $7.5 bn, including $1.5bn in debt.
APAC
Healthscope extended exclusive takeover talks with Brookfield.
Australia’s Healthscope has extended exclusive takeover talks with suitor Brookfield Asset Management by a month, and that a rival suitor remained interested, potentially re-igniting a bidding war.
The hospital operator has not yet committed to a binding A$4.5bn ($3bn) offer from the Canadian investment firm.
