EMEA
Jewelry brand APM Monaco seeks a buyer, the deal could fetch $1bn. (FS)
Jerusalem Venture Partner closes $220m fund. (FS)
AMERICAS
Owens & Minor, healthcare logistics company, explores a sale.
Constellation is looking to offload some wine brands.
Italy's Terna hires Santander to raise cash for Latam business.
GTCR-Led Group nears $5.1bn deal for AssuredPartners. (FS)
APAC
Saudi Aramco to decide in the first half on financing for the SABIC acquisition.
South Korea's Netmarble, Kakao, and MBK bid for Nexon parent. (FS)
Hong Kong-based logistics startup Lalamove raises $300m Series D for Asia expansion. (FS)
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Latest Deals
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EMEA
German utility RWE will win unconditional EU antitrust approval to buy the renewables businesses of E.ON and Innogy in a deal that will reshape the German energy market.
The acquisition is part of an asset swap deal which involves breaking up Innogy and dividing its assets between parent RWE, and E.ON. Network, renewables and retail energy group Innogy were carved out from RWE two years ago as a standalone unit.
On completion, RWE, Germany’s biggest electricity producer, will become Europe’s third-largest renewable energy provider behind Spain’s Iberdrola and Italy’s Enel.
E.ON is advised by BNP Paribas, Perella Weinberg Partners and Linklaters. RWE is advised by Bank of America Merrill Lynch, Citigroup, Rothschild & Co, and Freshfields Bruckhaus Deringer.
Equistone Partners has acquired a majority stake in the RENA Group from Capvis AG. RENA’s management team and the CEO, Peter Schneidewind, will become shareholders in the company following its change in ownership, demonstrating their long-term commitment to the business. Financial terms were not disclosed.
Founded in 1993, RENA is one of the world’s leading manufacturers of wet chemical surface treatment technology and machinery.
“We are impressed by RENA’s leading market position, which is based on innovative technology, high quality, longstanding customer relationships, and a strong management team.” Stefan Maser, Partner at Equistone.
Rena Group was advised by goetzpartners, KPMG, Latham & Watkins, ERM, Sherman & Sterling, and GCA Altium.
Germany’s antitrust watchdog has cleared a potential acquisition of retailer Metro by Czech investor Daniel Kretinsky, a spokesman for the Federal Cartel Office said on Thursday.
Kretinsky had asked the agency to review his plans to buy a stake of 25-35% in the company, which the watchdog cleared. Any acquisition of more than 30% would trigger a mandatory takeover offer, according to German law.
People close to the matter had told Reuters last month, that Kretinsky’s vehicle Global Commerce, co-owned by him and Slovak investor Patrik Tkac, was working on the financing for a possible tender offer.
Jewelry brand APM Monaco seeks a buyer, the deal could fetch $1bn. (FS)
European Jewellery brand APM Monaco is looking for a buyer, and a deal could potentially fetch close to $1bn.
Founded in 1982 by Ariane Prette, the Prette family-owned jeweler is hoping the sale would help it expand globally and has tapped investors in Asia.
The design-focused silver jewelry business currently has 200 stores worldwide, most of them in Europe and China. It also has a presence in Tokyo, Singapore, and the US West Coast.
Jerusalem Venture Partner closes $220m fund. (FS)
Israeli VC firm, Jerusalem Venture Partners, has closed its latest fund, JVP VIII, with $220m in commitments.
This new fund aims to invest in early through mid-stage technologies that are transforming critical global markets, such as computer vision meets wellness, cybersecurity meets fintech and insurtech, artificial intelligence meets retail and media, big data meets healthcare IT and many more.
AMERICAS
Qlik, a leader in data analytics acquired Attunity, a leading provider of data integration and big data management software solutions. Under the terms of the agreement, Qlik will acquire all outstanding ordinary shares of Attunity for a total value of approximately $560m.
Building on Qlik’s recent acquisition of Podium Data and the introduction of Qlik Data Catalyst, Attunity provides cross-platform data streaming capabilities to support a shift to cloud and real-time analytics. This acquisition further differentiates Qlik by offering an expanded breadth of enterprise data management capabilities and adds an experienced team of data professionals.
“Attunity’s strength in real-time data delivery across complex cloud environments will uniquely position Qlik to help customers lead with data and align their enterprise analytics strategy. Attunity has demonstrated strong growth in a large market, and together we’re better positioned to serve our enterprise customers along with our partner ecosystem to solve the most challenging data problems.” Mike Capone, Qlik CEO.
Attunity is advised by JP Morgan and Goldfarb Seligman & Co, and Davis Polk & Wardwell. Qlik is advised by Kirkland & Ellis. Morgan Stanley and Goldman Sachs provided financing for the deal.
Merck & Co has acquired drug developer Immune Design for nearly $300m, to gain access to its immunotherapy programs. Merck will pay $5.8 in cash for each share of Immune Design.
Immune Design’s treatments help activate the immune system to produce or expand specific immune cells to fight cancer and other diseases.
“Merck has a rich history of discovery and innovation and a strong track record of developing meaningful therapeutics and vaccines. We believe this agreement creates shareholder value by positioning our technologies and capabilities for long-term success with a leading, research-driven biopharmaceutical company.” Dr. Carlos Paya, president, and chief executive officer, Immune Design.
Immune Design is advised by Lazard and Cooley. Merck & Co is advised by Credit Suisse and Gibson Dunn & Crutcher.
Brazilian planemaker Embraer said that a domestic court had dismissed a lawsuit filed by minority shareholders seeking to prevent a proposed sale of 80% of its commercial planes division to Boeing.
Embraer’s shareholders are scheduled to have a final vote on the deal on Feb. 26.
Wendel has agreed to sell approximately 40% of its equity stake, along with other existing shareholders, in Allied Universal, the leading security services provider in North America, to Caisse de dépôt et placement du Québec at an enterprise value of more than $7bn. Simultaneously, Allied Universal has entered into an agreement whereby CDPQ will provide up to approximately $400m to support the Company’s growth strategy and acquisition plans. Following the transaction, Wendel will retain a nearly 18% ownership stake in the Allied Universal.
“We are extremely proud of the progress that Steve and the entire Allied Universal team have made during our partnership and look forward to the Company’s continued growth with CDPQ’s support,” David Darmon and Adam Reinmann, Wendel Managing Directors.
Allied Universal is advised by Barclays and Morgan Stanley. Wendel is advised by Cleary Gottlieb Steen & Hamilton and Skadden, Arps, Slate, Meagher & Flom.
Strategic Value Partners has acquired food ingredient and ethanol businesses from White Energy. Financial terms were not disclosed.
The purchase includes two integrated plants in Russell, Kansas: the nation’s largest vital wheat gluten manufacturing facility and one of the nation’s most cost-efficient ethanol production facilities.
“As a long-term investor in White Energy, we are intimately familiar with the Russell facilities, which have a unique competitive position in the food ingredient and renewable energy markets. We believe this business can be improved even further by focusing on Russell as a standalone operation,” Victor Khosla, SVPGlobal’s founder and chief investment officer.
Platinum Equity has acquired Livingston International. Financial terms were not disclosed.
Livingston is an international trade-services firm based in Toronto, Ontario, Canada, which specializes in customs brokerage, freight forwarding and trade consulting. It holds the distinction of being Canada’s largest customs broker and third-largest entry filer in the United States.
“Livingston has a unique business model and offers a compelling value proposition in the transportation and logistics sector. The company is run by a strong leadership team and we believe it can benefit from our financial resources and operational expertise. We look forward to helping the business maximize its potential.” Jason Price Platinum Equity Principal.
Owens & Minor, healthcare logistics company, explores a sale.
Owens & Minor is exploring a sale of the company, as the US medical supplies distributor seeks to recover from a string of disappointing earnings.
The Richmond, Virginia-based company’s shares tumbled as much as 20% on Wednesday, the day after it reported fourth-quarter earnings that missed analysts’ expectations amid fierce price competition in its hospital supplies business.
Owens & Minor, which has a market capitalization of $420m, is working with investment banks to explore a sale. Sources cautioned there is no guarantee that the talks will result in a deal.
Allied Universal is advised by Barclays and Morgan Stanley. Wendel is advised by Cleary Gottlieb Steen & Hamilton and Skadden, Arps, Slate, Meagher & Flom.
Constellation is looking to offload some wine brands.
Corona maker Constellation Brands said it was looking to sell some of its lower-end wine brands, as it concentrates on the more profitable high-end segment.
“Everything that’s not a power brand, you can assume that we’re either going to sell it, discontinue it or milk it very quickly over the next year or so,” David Klein, Chief Financial Officer.
Constellation was looking to sell some of its US-based wine brands, in a deal that could be worth more than $3bn, in October.
Italy's Terna hires Santander to raise cash for Latam business.
Italian power grid operator Terna has hired Santander to scout investors that could raise cash into its transmission businesses in Brazil, Peru, and Uruguay told Reuters.
The process kicked off recently and aims to raise funds to help Terna strengthen its footprint in Latin America. The possible amount to be raised is €200-300m ($227-340m).
Italy’s state-controlled power transmitter ranks as one of the world’s biggest power grid players with a market value of €10bn ($11.4bn).
GTCR-Led Group nears $5.1bn deal for AssuredPartners. (FS)
A group of investors led by the private equity firm GTCR is nearing a deal to buy a majority stake in AssuredPartners that would value the insurance brokerage at about $5.1bn, including debt.
A deal should be announced as soon as this week.
APAC
Saudi Aramco to decide in the first half on financing for the SABIC acquisition.
Saudi Aramco said it expects to decide by mid-2019 how to finance the acquisition of Saudi Arabian Basic Industries.
“The decision on financing the SABIC acquisition is expected to be taken in the first half. We have internal resources, and then, of course, there are banks and the bond market, which we are evaluating at the moment,” Amin Nasser, CEO of Aramco.
South Korea's Netmarble, Kakao, and MBK bid for Nexon parent. (FS)
South Korean tech firms Netmarble and Kakao and private equity fund MBK Partners have submitted initial bids to buy the parent of gaming firm Nexon. Netmarble and Kakao, both backed by Chinese social media and gaming giant Tencent, have both shown an interest in securing control of Nexon, South Korea’s biggest gaming company.
Nexon founder Kim Jung-ju wants to sell a 98% stake in NXC Corp that is held by him and related parties including his wife. The deal could be worth as much as $9bn, Reuters said.
Hong Kong-based logistics startup Lalamove raises $300m Series D for Asia expansion. (FS)
Hong Kong-based on-demand logistics startup Lalamove has raised a $300m Series D funding round in two tranches. The company said its D1 round was led by Hillhouse Capital, while Sequoia China led the D2 round. Other investors that joined the series include Eastern Bell Venture Capital, PV Capital and existing investors including Shunwei Capital, Xiang He Capital, and MindWorks Ventures.
According to TechCrunch, the financing valued the company at over $1bn, making it the latest Asian startup to enter the unicorn club. The fresh capital will be used by Lalamove to strengthen its technological and innovation capabilities in China and Southeast Asia, expand its presence in India and enter new businesses such as car sales. Founded in 2013, Lalamove matches drivers with customers via its website and mobile app to fulfill same-day deliveries.
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