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Top Highlights
Elliott-backed Amber Energy, a group of strategic US energy investors, agreed to acquire CITGO Petroleum, a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products, according to press releases. Financial terms were not disclosed.
Amber Energy is advised by Barclays, Akin Gump Strauss Hauer & Feld (led by Ira Dizengoff), Latham & Watkins (led by Patrick Nevins), Quinn Emanuel and Prosek Partners (led by Brian Schaffer). CITGO Petroleum is advised by Jones Day (led by Robert Profusek). Elliott Management Corporation is advised by Citigroup, Perella Weinberg and Tudor Pickering Holt, according to press releases and MergerLinks data.
S&P Global, a financial intelligence provider, completed the acquisition of With Intelligence, a private markets data, insights, and analytics provider, from Motive Partners, a private investment firm, for $1.8bn, according to press releases.
S&P Global was advised by McKinsey & Company, Citigroup, Jefferies & Company and Clifford Chance (led by Dominic Ross). With Intelligence was advised by Oliver Wyman, Centerview Partners, Rothschild & Co (led by Richard Fetterman), Joelson and Proskauer Rose, according to press releases and MergerLinks data.
Advent International, a private equity firm, completed the acquisition of u-blox, a global provider of positioning and wireless communication technologies and services, for CHF1.05bn ($1.3bn), according to press releases.
u-blox is advised by IFBC, Morgan Stanley, Freshfields Bruckhaus Deringer (led by Frank Rohling and Nabeel Yousef), Walder Wyss and Dynamics Group. Advent is advised by UBS, Bar & Karrer and Kekst CNC (led by Knut Engelmann), according to press releases and MergerLinks data.
Deal Round up
AMERICAS
Warner Bros to ask bidders to submit sweetened offers. ( Bloomberg)
Ackman's Pershing Square targets $5bn IPO for closed-end fund. ( Reuters)
Slovenia rejects Croatia’s bid to buy Ljubljana Stock Exchange. ( Bloomerg)
Evoke assesses Italian unit sale amid tax concerns ahead of budget. ( Reuters)
Enhanced Games to go public in $1bn US SPAC merger. ( Bloomberg)
EDF weighs full sale of US renewable unit to focus on French nuclear. ( Reuters)
Aramco is said to pick Citi for oil storage terminals stake sale. ( Bloomberg)
France’s Canal+ plans to raise €700m via debut bond. ( Bloomberg)
APAC
ByteDance is said to revive Moonton sale, in talks with PIF’s Savvy Games ( Bloomberg)
Vietnam’s Mobile World plans IPO of electronics unit next year. ( Bloomberg)
Didi Global’s profit surges 67% ahead of possible Hong Kong IPO. ( Bloomberg)
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AMERICAS
LevelBlue, a pure-play provider of managed security services, completed the acquisition of Cybereason, according to press releases. Financial terms were not disclosed.
LevelBlue was advised by Santander, Sullivan & Cromwell (led by Eric M. Krautheimer) and Kirkland & Ellis. Cybereason was advised by JP Morgan and Goodwin Procter, according to press releases.
SoftBank Group, a multinational investment holding company, completed the acquisition of Ampere Computing, an independent silicon design company, from Carlyle, a private equity firm, and Oracle, a computer software company, for $6.5bn, according to press releases.
Ribbit Capital, a venture capital firm, led a $120m Series C round in Harmonic, a company specializing in artificial intelligence, with participation from Sequoia Capital, Index Ventures, Kleiner Perkins and Emerson Collective, according to press releases.
Harmonic was advised by Goldin Solutions (led by Sasha Bull), according to press releases.
Warner Bros to ask bidders to submit sweetened offers. (Bloomberg)
Warner Bros Discovery, the parent of HBO and CNN, has asked potential buyers to submit new, sweetened offers after receiving an initial round of bids.
The company, which put itself up for sale last month, has asked bidders to provide improved offers by December 1.
Ackman's Pershing Square targets $5bn IPO for closed-end fund. (Reuters)
Hedge fund manager Bill Ackman aims to raise $5bn for a new US-listed closed-end fund that will debut alongside the planned public listing of his hedge fund firm, Pershing Square Capital Management.
The billionaire investor, who cemented his reputation as an activist by pushing companies ranging from Chipotle Mexican Grill to Canadian Pacific—now Canadian Pacific Kansas City—is launching his first new fund in years and intends to give investors the chance to own a piece of his successful hedge fund.
EMEA
Vision Healthcare, a consumer healthcare platform, agreed to acquire Nordic Nutriment, the company behind the fast-growing Danish health and wellness brand VitaYummy, according to press releases. Financial terms were not disclosed.
Vision Healthcare is advised by Plesner (led by Brian Bundgaard). The vendors are advised by Gorrissen Federspiel (led by Mikael Philip Schmidt), according to press releases and MergerLinks data.
RSK Group, a provider of delivery of environmental and engineering solutions, agreed to acquire Octavius Infrastructure, a civil engineering and electrification transport infrastructure business, from Sullivan Street Partners, an investment firm, according to press releases. Financial terms were not disclosed.
Sullivan Street Partners is advised by DC Advisory, according to press releases and MergerLinks data.
EMK Capital, a private equity investor, agreed to acquire Project Informatica, an operator in the Italian Information Technology market, from HIG Capital, a global alternative investment firm, according to press releases. Financial terms were not disclosed.
EMK Capital is advised by Case Cassiopea, according to press releases and MergerLinks data.
Apollo, a global asset manager, completed the acquisition of a 25.1% stake in Amprion, a transmission system operator for electricity, from RWE, an energy company, for €3.2bn ($3.75bn), according to press releases.
Institutional Investors completed the acquisition of a 3.3% stake in MASAR, a real estate company, from PIF, a public investment fund, for $253m, according to press releases.
Slovenia rejects Croatia’s bid to buy Ljubljana Stock Exchange. (Bloomerg)
Slovenia blocked a Croatian government agency's attempt to take control of the Ljubljana Stock Exchange.
The Croatian Financial Agency, or Fina, aims to become the majority shareholder of the Zagreb Stock Exchange, which has owned the Ljubljana bourse since 2015. While Croatian regulators approved the deal, Slovenia's watchdog stepped in on November 25 to halt the transaction.
Evoke assesses Italian unit sale amid tax concerns ahead of budget. (Reuters)
British bookmaker Evoke, which operates an Italian online business, has appointed bankers to assess options for a potential sale if the government imposes steep tax increases in the upcoming budget.
Enhanced Games to go public in $1bn US SPAC merger. (Bloomberg)
The Enhanced Games, an Olympics-style sports event that allows performance-enhancing drugs and is backed by billionaire Peter Thiel, is in advanced talks to go public through a merger with special purpose acquisition company A Paradise Acquisition.
The transaction would value the business at about $1bn. Enhanced Games and the blank-check firm have been speaking with multiple investors to support the deal through private investment in public equity, or PIPE.
EDF weighs full sale of US renewable unit to focus on French nuclear. (Reuters)
French state-owned utility EDF is weighing a full sale of its US renewable energy business, as the company shifts focus to domestic nuclear operations amid reduced US support for wind and solar.
Bernard Fontana told Reuters the company is now considering selling "between 50% and 100%" of its US renewable unit, revising an earlier plan that had targeted only a minority stake, speaking on the sidelines of the Adopt AI conference in Paris.
Aramco is said to pick Citi for oil storage terminals stake sale. (Bloomberg)
Saudi Aramco has tapped Citigroup to advise on a potential multibillion stake sale of its oil export and storage terminals business.
The US investment bank was chosen in recent days following a pitching process that drew proposals from several other Wall Street lenders.
France’s Canal+ plans to raise €700m via debut bond. (Bloomberg)
French media group Canal+ SA raised €700m ($810m) from its debut euro bond sale, marking its first entry into public capital markets as it refinances part of the bridge loan tied to its MultiChoice Group acquisition.
The entertainment conglomerate set final terms on the five-year unrated notes at 225 basis points above mid-swaps on November 26, after initial guidance of around 250 basis points. Investor demand topped €3.4bn ($3.9bn), allowing Canal+ to increase the offering from the €500m ($577m) originally planned. A spokesperson declined to comment.
APAC
Seviora, an asset management group, agreed to merge with Pavilion Capital, a private equity firm, according to press releases. Financial terms are not disclosed.
Seviora is advised by FTI Consulting, according to press releases.
Naver Financial, a financial services company, agreed to acquire Dunamu, a provider of fintech and blockchain services, $10.3bn.
ByteDance is said to revive Moonton sale, in talks with PIF’s Savvy Games (Bloomberg)
TikTok owner ByteDance is in talks to sell gaming studio Shanghai Moonton Technology to Saudi Arabia-based Savvy Games Group.
The discussions revive ByteDance’s plan to divest the maker of Mobile Legends: Bang Bang, which it put on hold in 2024. The company bought Moonton in 2021 at a valuation of about $4bn.
Vietnam’s Mobile World plans IPO of electronics unit next year. (Bloomberg)
Vietnam’s retail giant Mobile World Investment is planning an IPO for its electronics and mobile store chain in 2026.
The company expects to complete the listing of its Dien May Xanh subsidiary within 2026, Founder and Chairman Nguyen Duc Tai said.
Didi Global’s profit surges 67% ahead of possible Hong Kong IPO. (Bloomberg)
Chinese ride-hailing giant Didi Global reported a 67% quarterly profit increase, signaling a positive outlook ahead of a potential Hong Kong listing.
Net income reached CNY1.5bn ($212m) in the September quarter, supported by strong domestic growth that offset losses in international markets.
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