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Top Highlights
The UK’s antitrust regulator is reviewing whether International Business Machines’ proposed $6.4bn acquisition of Hashie could impact market competition.
A2A, an Italian utilities company, completed the acquisition of selected Italian electricity distribution assets of Enel, an electricity and gas distributor, for €1.2bn ($1.31bn).
Maiden, a Bermuda based holding company with insurance subsidiaries that provides specialty reinsurance products, agreed to merge with Kestrel Group, a strategic entity created to service program managers, MGAs, reinsurers and reinsurance brokers, in a $168m deal.
Maiden is advised by Insurance Advisory Partners, Appleby, Paul Weiss Rifkind Wharton & Garrison and FGS Global. Kestrel Group is advised by Evercore and Skadden Arps Slate Meagher & Flom (led by Todd Freed).
Deal Round up
AMERICAS
APAC
Yibin City Commercial Bank targets $241m in Hong Kong IPO. ( Press Release)
Pakistan’s Barkat Frisian Agro plans IPO amid stock market rally. ( Bloomberg)
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COMPANIES
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
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Read on...
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AMERICAS
Immedica Pharma, a global rare disease company, agreed to acquire Marinus Pharmaceuticals, a pharmaceutical company committed to improving the lives of patients with seizure disorders, for $151m.
Marinus Pharmaceuticals is advised by Barclays and Hogan Lovells. Immedica Pharma is advised by MTS Health Partners, Fuchs Patentanwälte Partnerschaft and Gibson Dunn & Crutcher.
Wabtec, a provider of value-added, technology-based products and services for freight rail, passenger transit and other industrial segments, completed the acquisition of Bloom Engineering, a provider of industrial heating applications, for $69m.
Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm, completed the acquisition of BMR Insurance, a retail insurance agency serving commercial and personal lines clients. Financial terms were not disclosed.
EMEA
Zebra Technologies, a mobile computing company, agreed to acquire Photoneo, a developer and manufacturer of 3D machine vision solutions. Financial terms were not disclosed.
Photoneo is advised by Evercore and Dentons. Zebra Technologies is advised by A&O Shearman.
Littelfuse, a diversified, industrial technology manufacturing company, completed the acquisition of the Dortmund fab from Elmos Semiconductor, a manufacturer of semiconductor products, for €93m ($99m).
Littelfuse was advised by Hengeler Mueller (led by Maike Hölty).
Stagwell, a global marketing network company, agreed to acquire Create, a strategic digital communications group. Financial terms were not disclosed.
Baykar, a private Turkish defence company specialising in UAVs, C4I and artificial intelligence, agreed to acquire Piaggio Aerospace, a multinational aerospace manufacturing company. Financial terms were not disclosed.
APAC
Wilmar, a Singaporean food processing and investment holding company, agreed to acquire an additional 44% stake in Adani Wilmar, its Indian multinational food and beverage joint venture with Adani Group, for $1.4bn.
Yibin City Commercial Bank targets $241m in Hong Kong IPO. ( Press Release)
Chinese lender Yibin City Commercial Bank plans to raise up to $241m through an initial public offering in Hong Kong.
The bank will offer 688.4m H shares at a price range of $0.33 to $0.35 per share. Yibin City Commercial Bank provides a variety of banking services, including deposits, loans, domestic settlement, bill discounting, government bond underwriting, insurance, wealth management, and other financial services.
Pakistan’s Barkat Frisian Agro plans IPO amid stock market rally. ( Bloomberg)
Barkat Frisian Agro, Pakistan’s largest egg products manufacturer, is preparing for an initial public offering next month.
The company, a joint venture between the Buksh Group and the Netherlands-based Frisian Egg Group, aims to raise up to $4.3m. Proceeds will be used to develop a new production plant in Faisalabad’s special economic zone, located in central Punjab province. The IPO comes as Pakistan’s stock market experiences a rally, making it Asia's best-performing market in 2024.
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