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AMERICAS

Blackstone Energy Transition Partners to acquire DarkVision from Koch Engineered Solutions.

Blackstone Energy Transition Partners, an investment platform of Blackstone focused on energy transition and industrial infrastructure, agreed to acquire DarkVision, a company providing advanced ultrasound imaging solutions, from Koch Engineered Solutions, a manufacturer of industrial chemicals, according to press releases. Financial terms were not disclosed.

DarkVision is advised by Evercore and Fasken. Blackstone Energy Transition Partners is advised by Guggenheim Partners, Stifel, Bennett Jones, and Kirkland & Ellis, according to press releases.

Sleep Country Canada completes the acquisition of Sleep Number.

Sleep Country Canada, a Canadian specialty retailer of mattresses and bedding products, completed the acquisition of Sleep Number Corporation, a US-based sleep technology and mattress company, according to press releases. Financial terms were not disclosed.

Sleep Country Canada was advised by PricewaterhouseCoopers and Goodwin. Sleep Number Corporation was advised by AlixPartners, Guggenheim Partners, Davis Polk & Wardwell, and Joele Frank (led by Aaron Palash), according to press releases and MergerLinks data.

TMX Group-backed BOX to merge with MEMX in a $2.3bn deal.

TMX Group-backed BOX, an equity options market, agreed to merge with MEMX, a technology-driven stock exchange, in a $2.3bn deal, according to press releases.

MEMX is advised by Morgan Stanley and Davis Polk & Wardwell (led by Lee Hochbaum). TMX Group is advised by BMO Capital Markets, Barclays and Cravath Swaine & Moore, according to MergerLinks data and press releases.

ANV completes the acquisition of Open Lending for c. $383m.

ANV, a private global insurance intermediary platform, completed the acquisition of Open Lending, a US-based automotive lending technology and risk analytics company, for c. $383m, according to press releases.

Open Lending was advised by Financial Technology Partners and Jones Day (led by Braden McCurrach and Randi C. Lesnick). Financial advisors were advised by Sullivan & Cromwell (led by Stephen M. Kotran). ANV was advised by Evercore and Paul Weiss Rifkind Wharton & Garrison (led by Adam M. Givertz and Lewis M. Fainer), according to press releases and MergerLinks data.

Platinum Equity completes the acquisition of Tangent Technologies from The Sterling Group.

Platinum Equity, an American private equity investment firm, completed the acquisition of Tangent Technologies, a manufacturer of high-performance synthetic materials, from The Sterling Group, a private equity investment firm, according to press releases. Financial terms were not disclosed.

Platinum Equity was advised by Alston & Bird and Gibson Dunn & Crutcher (led by Ari Lanin). The Sterling Group was advised by Lincoln International, Moelis & Co, and McDermott Will & Schulte, according to press releases and MergerLinks data.

Processa Pharmaceuticals completes the acquisition of Vidya Therapeutics.

Processa Pharmaceuticals, a clinical-stage biopharmaceutical company, completed the acquisition of Vidya Therapeutics, a clinical-stage biotechnology company, according to press releases. Financial terms were not disclosed.

Vidya was advised by Leerink Partners, Cooley and The Grace Communication Group. Processa was advised by Tungsten Advisors and Katten Muchin Rosenman, according to MergerLinks data and press releases.

Deluxe completes the acquisition of Celero Commerce for $625m.

Deluxe, a payments and data company, completed the acquisition of Celero Commerce, a financial technology company focused on optimized payment solutions for small to mid-sized businesses, for $625m, according to press releases.

Deluxe was advised by Bank of America, Bennett Jones, Troutman Pepper and Collected Strategies (led by Scott Bisang), according to press releases.

Truelink Capital to acquire JT Thorpe from H.I.G. Capital.

Truelink Capital, a private equity firm, agreed to acquire JT Thorpe, a provider of specialty industrial maintenance and thermal management services, from H.I.G. Capital, an investment firm, according to press releases. Financial terms were not disclosed.

JT Thorpe is advised by Goldman Sachs, Harris Williams & Co, and McDermott Will & Schulte, according to press releases.

Everus to acquire Epsilon Industries for $295m.

Everus, a construction services provider, agreed to acquire Epsilon Industries, a designer and manufacturer of complex, modular mechanical and electrical building infrastructure systems, for $295m, according to press releases.

Everus is advised by JP Morgan and Vallum Advisors (led by Paul Bartolai), according to MergerLinks data and press releases.

885 Capital and Knighthead Capital Management-backed Professional Fighters League to merge with Most Valuable Promotions.

885 Capital and Knighthead Capital Management-backed Professional Fighters League, a mixed martial arts organization operating global MMA competitions and media distribution platforms, agreed to merge with Most Valuable Promotions, a combat sports promotion company focused on boxing, MMA, and athlete brand-building, according to press releases. Financial terms were not disclosed.

Most Valuable Promotions is advised by Goodwin. Professional Fighters League is advised by Cooley, according to press releases.

Brookfield explores $5bn sale of NorthRiver Midstream. (Reuters)

Brookfield Infrastructure is exploring a potential sale of NorthRiver Midstream in a transaction that could value the Canadian pipeline operator at about CAD7bn ($5bn).

The investment firm has begun sounding out potential buyers as part of a sale process for the natural gas-focused pipeline business.

NXP explores acquisition of Ambarella. (FT)

NXP Semiconductors is in talks to acquire Ambarella, a developer of low-power AI chips for edge devices, in a deal that could value the company at more than $3bn.

The transaction would strengthen NXP's automotive and edge AI capabilities, though discussions are ongoing and may not result in a deal.

Santander offers to acquire remaining stake in Santander Brasil. (Reuters)

Santander has offered to acquire the remaining 10% stake it does not own in Santander Brasil through a share-swap transaction valued at about €1.9bn ($2.2bn).

The proposed deal would give the Spanish bank full ownership of its Brazilian subsidiary.

KKR nears acquisition of Integer Holdings. (WSJ)

KKR is nearing an agreement to acquire medical device outsourcing company Integer Holdings in a deal that would value the company at about $127 per share.

Integer launched a strategic review earlier this year following pressure from activist investor Irenic Capital Management, which had urged the company to consider a sale or merger.

Tesla weighs sale of China business ahead of potential SpaceX merger. (WSJ)

Tesla is considering a sale of its China business as part of preparations for a potential merger with SpaceX.

The company has structured its US and China operations separately in recent years to reduce geopolitical risk and preserve strategic flexibility.

Westinghouse Electric files confidentially for IPO. (WSJ)

Westinghouse Electric has confidentially filed for an initial public offering in the US as the nuclear technology company prepares for a potential public listing.

The Brookfield Asset Management- and Cameco-backed company has not yet disclosed the size or pricing of the proposed offering.

Braveheart Bio seeks up to $319m in US IPO. (Bloomberg)

Braveheart Bio is seeking to raise up to $318.8m through a US initial public offering to support the development of its cardiovascular disease treatments.

The a16z-backed company is offering 18.8m shares and could be valued at about $1.2bn at the top of the proposed price range.

Apnimed raises $192m in upsized US IPO. (Bloomberg)

Apnimed has raised $192m in an upsized US initial public offering after pricing its shares at the top of the marketed range.

The Shionogi-backed biotech company increased the offering to 12m shares from 10m amid strong investor demand.

Omers appoints Adam Buzanis to lead private equity funds. (Bloomberg)

Omers has hired Adam Buzanis from CAAT Pension Plan as head of funds to lead the expansion of its external private equity funds strategy.

Buzanis will also help grow Omers' co-investment activities as the pension fund increases its focus on private equity fund investments.

EMEA

LondonMetric and SREIT to acquire Picton in a £404m deal.

LondonMetric, a property company, and Schroder Real Estate Investment Trust, offered to acquire Picton, a real estate investment trust, in a £404m ($544m) deal, according to press releases.

Picton is advised by Panmure Liberum (led by David Watkins), Stifel (led by Mark Young), Norton Rose Fulbright and Tavistock (led by James Verstringhe). LondonMetric is advised by Barclays (led by Bronson Albery), Jefferies & Company (led by Ed Matthews), Peel Hunt (led by Capel Irwin), CMS Legal and FTI Consulting (led by Dido Laurimore). SREIT is advised by JP Morgan (led by James A. Kelly), Stephenson Harwood and FTI Consulting (led by Richard Gotla), according to MergerLinks data and press releases.

Macquarie Capital to invest in Chiron Energy and form a joint venture.

Macquarie Capital, an investment banking, advisory, and principal investing firm, agreed to invest in Chiron Energy, an Italian renewable developer. and form a joint venture to support the development, construction and operation of renewable power generation plants and energy storage systems in Italy, according to press releases. Financial terms were not disclosed.

Chiron Energy is advised by KPMG, UniCredit, PedersoliGattai, Barabino & Partners (led by Giovanni Vantaggi) and EOS Consulting. Macquarie Capital is advised by Rothschild & Co, Ashurst Perkins Coie and Consultancy Vector Renewables, according to MergerLinks data and press releases.

CPE to acquire Mammut from Jacobs Capital.

CPE, a Chinese alternative assets manager, agreed to acquire Mammut, a Swiss outdoor brand, from Jacobs Capital, a mid-market private equity investment firm, according to press releases. Financial terms were not disclosed.

CPE is advised by OC&C Strategy Consultants, Ernst & Young, Rothschild & Co and DLA Piper. Jacobs Capital is advised by LEK Consulting, Ernst & Young, Houlihan Lokey and Homburger (led by David Oser and Anna Peter), according to MergerLinks data and press releases.

Swift Partners to acquire Argos from Sainsbury’s for £120m.

Swift Partners, a newly established company backed by experienced retail leaders and specialist retail investors, agreed to acquire Argos, a UK general merchandise retailer, from Sainsbury’s, a British supermarket, for £120m ($161m), according to press releases.

Sainsbury’s is advised by Evercore, UBS and Herbert Smith Freehills Kramer, according to MergerLinks data and press releases.

Activa and Montefiore Investment complete the acquisition of a majority stake in Arche MC2.

Activa, an independent private equity company, and Montefiore Investment, a private equity firm, completed the acquisition of a majority stake in Arche MC2, a software publisher for the medico‑social sector, according to press releases. Financial terms were not disclosed.

Arche MC2 was advised by Stifel (led by Thibaut de Smedt and Stanislas de Gmeline). Montefiore was advised by Houlihan Lokey and McDermott Will & Schulte (led by Gregoire Andrieux), according to MergerLinks data and press releases.

Michal Strnad completed the acquisition of a 14% stake in Pirelli from Sinochem for €987m.

Michal Strnad, a Czech entrepreneur and investor, completed the acquisition of a 14% stake in Pirelli, an Italian manufacturer of tires and other rubber products, from Sinochem, a Chinese state-owned multinational conglomerate, for €987m ($1.14bn), according to press releases.

Michal Strnad was advised by Jefferies & Company and Barabino & Partners (led by Federico Steiner), according to MergerLinks data and press releases.

Commerzbank to resume UniCredit merger talks. (Reuters)

Commerzbank will resume discussions with UniCredit over a potential combination as the Italian lender moves closer to gaining control in its €45bn ($51.8bn) takeover approach.

The renewed talks mark a significant shift after months of resistance to UniCredit’s bid for one of Germany’s largest banks.

FIFA abandons $20bn commercial stake sale. (New York Post)

FIFA has abandoned plans to sell a roughly 20% stake in a commercial entity that would have valued the business at about $20bn.

The proposed transaction reportedly collapsed following opposition from European football officials and internal disagreements within FIFA.

Couche-Tard to acquire Zabka in $8.7bn deal. (Reuters)

Alimentation Couche-Tard has agreed to acquire Polish convenience store operator Zabka for about $8.7bn in its largest-ever acquisition.

The Canadian retailer has secured support from shareholders including CVC Capital Partners and Partners Group, representing about 57% of Zabka's share capital.

BP explores sale of North Sea oil and gas business. (Sky News)

BP has put its North Sea oil and gas operations up for sale as part of a portfolio review under its new chief executive.

The business includes five major production hubs, including the Clair oil field, the largest on the UK continental shelf.

Banco BPM abandons Monte Paschi merger plans. (Press Release)

Banco BPM has ended efforts to pursue a merger with Banca Monte dei Paschi di Siena after its largest shareholder, Credit Agricole, rejected the proposal.

Credit Agricole said it sees greater value in combining its Italian operations with Banco BPM rather than supporting a tie-up with Monte Paschi.

Norse Atlantic launches formal strategic review process. (Press Release)

Norse Atlantic has launched a formal strategic process that could result in a sale, merger or strategic partnership following the end of its ACMI cooperation with IndiGo.

The airline said the return of six aircraft provides greater fleet flexibility as it evaluates strategic alternatives and opportunities to improve profitability.

French state reduces Orange stake. (Reuters)

Bpifrance has sold a 2.5% stake in Orange for €1.1bn ($1.3bn) while remaining the telecom operator's largest shareholder alongside the French state.

Following the sale, Bpifrance and the French state together hold a 20.4% stake in Orange through their coordinated shareholdings.

Bidders advance in Catania airport privatization. (Reuters)

Ten bidders, including Adani Airport Holdings, Vinci Airports and Royal Schiphol Group, have advanced to the second round of the sale of a majority stake in Catania Airport.

The privatization involves at least a 51% stake in the airport, with the transaction expected to value the asset at €500m-€600m ($570m-$684m).

CityFibre to raise £900m for acquisitions. (Bloomberg)

CityFibre is set to raise £900m ($1.2bn) from existing shareholders to support acquisitions as the UK alternative fiber market consolidates.

The funding will be provided by investors including Goldman Sachs, Antin Infrastructure Partners, Mubadala Investment and Interogo Holding.

APAC

Dhoot Transmission plans $325m India IPO. (Bloomberg)

Dhoot Transmission is preparing to launch an initial public offering in India next month after completing investor roadshows.

The Bain Capital-controlled automotive components manufacturer is seeking to raise as much as INR31bn ($325m) through the offering.

South Korea plans $14bn AI investment fund. (Bloomberg)

South Korea plans to inject KRW20tn ($13.9bn) into its sovereign wealth fund to support strategic investments in artificial intelligence, data centers and infrastructure.

The new investment account within Korea Investment Corporation will also be permitted to invest in domestic assets for the first time.

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