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Top Highlights
Jacobs, an American international technical professional services firm, agreed to acquire the remaining stake in PA Consulting, an innovation and transformation consultancy, for $1.6bn, according to press releases.
PA Consulting is advised by Goldman Sachs and Milbank. Jacobs is advised by Centerview Partners, Perella Weinberg Partners and Akin Gump Strauss Hauer & Feld, according to press releases.
Destinus, a private European aerospace company, completed the acquisition of Daedalean, a pioneer in safety-critical, certifiable AI avionics software, for $225m, according to press releases.
Destinus was advised by Rothschild & Co, Hogan Lovells (led by Randy Segal) and Walder Wyss, according to MergerLinks data.
Anchor Health Properties, a national, full-service healthcare real estate development, management, and investment company, completed the investment in Chestnut Funds, a long-time investment partner, according to press releases. Financial terms were not disclosed.
Chestnut Funds was advised by Oaklyn and Miller & Martin. Anchor Health Properties was advised by Moore & Van Allen, according to press releases.
Deal Round up
AMERICAS
MPM BioImpact-backed Aktis seeks to raise $212m in IPO (SEC Filing)
EMEA
Travel site GetYourGuide eyes share sale after turning profit. ( Sky News)
UK's Auction Technology rejects buyout bids from top investor FitzWalter. (Press Release)
APAC
India’s top asset manager taps Citi, HSBC for $1.4bn IPO. ( Bloomberg)
MiniMax is said to plan pricing Hong Kong IPO at top on AI fervor. ( Bloomberg)
Goldman seeks to raise $500m for Japan real estate fund. ( Bloomberg)
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COMPANIES
FINANCIAL ADVISORS
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Read on...
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AMERICAS
AE Industrial, a private investment firm, completed the acquisition of a majority stake in the space propulsion and power systems business of L3Harris Technologies, an American technology company, defense contractor and information technology services provider that produces C6ISR systems and products, at a $845m valuation, according to press releases.
L3Harris Technologies was advised by Jefferies & Company. AE Industrial was advised by Stanton PRM (led by Matthew Conroy), according to press releases.
Apollo, a high-growth, global alternative asset manager, agreed to invest $1.2bn in QXO, the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America, according to press releases.
Hiab, a provider of smart and sustainable on road load-handling solutions, completed the acquisition of ING Cranes, a Brazilian crane manufacturer, according to press releases. Financial terms were not disclosed.
CohnReznick, a professional services firm, completed the acquisition of Smith Schafer, a certified public accounting and consulting firm, according to press releases. Financial terms were not disclosed.
MPM BioImpact-backed Aktis seeks to raise $212m in IPO. (SEC Filing)
Aktis Oncology, a clinical-stage biotech company developing radiopharmaceutical-based treatments, is aiming to raise up to $212m in a US initial public offering.
The Boston-based firm, supported by MPM Biolmpact and Vida Ventures, plans to sell 11.8m shares at $16 to $18 each. At the top of the range, the company would have a market value of about $840m based on its outstanding shares.
EMEA
Oakley Capital, a private equity firm, agreed to invest £55m ($74m) in Global Loan Agency Services, a global provider of loan administration and bond trustee services, according to press releases.
Oakley Capital is advised by Deutsche Numis (led by Nathan Brown) and Greenbrook (led by Robert White), according to press releases.
Flutterwave, a payments technology company, completed the acquisition of Mono, a provider of open banking infrastructure, according to press releases. Financial terms were not disclosed.
Flutterwave was advised by The Chrysalis Advisors (led by Nichole Yembra), according to press releases.
The BENTELER Group, a global company serving customers in automotive technology, agreed to acquire ioki, a European provider of software-based mobility solutions, from Deutsche Bahn, the national railway company of Germany, according to press releases. Financial terms were not disclosed.
Travel site GetYourGuide eyes share sale after turning profit. ( Sky News)
Travel experiences marketplace GetYourGuide is exploring a share sale at a multi-billion-euro valuation that would underscore the sector’s recovery from the depths of the Covid pandemic.
The Berlin-based company is in discussions with investment banks about appointing advisers for a secondary share offering that could take place in the coming months.
UK's Auction Technology rejects buyout bids from top investor FitzWalter. (Press Release)
Auction Technology said it has rejected 11 takeover approaches from its largest shareholder, FitzWalter Capital, arguing that the proposals significantly undervalued the British online auction operator and its long-term prospects.
FitzWalter’s most recent offer of £3.60 ($4.85) a share in cash would have valued Auction Technology at about £436m ($585m), reiterating that the board believes the bids fail to reflect the group’s growth potential.
APAC
SGH, an Australian diversified operating company, and Steel Dynamics, an American steel producer, offered to acquire BlueScope, a steel supplier and manufacturer, for AUD13.15bn ($8.8bn), according to press releases.
BlueScope is advised by UBS and Herbert Smith Freehills Kramer, according to press releases.
Indocement Tunggal Prakarsa, a publicly traded Indonesian cement company, and Saint-Gobain, a provider of materials and services for construction, formed a joint venture, according to press releases. Financial terms were not disclosed.
India’s top asset manager taps Citi, HSBC for $1.4bn IPO. ( Bloomberg)
SBI Funds Management has appointed nine banks to advise on a proposed initial public offering that could raise about $1.4bn in the first half of 2026.
India’s largest asset manager has selected Kotak Mahindra Capital, Axis Bank, SBI Capital Markets, Motilal Oswal Investment Advisors, ICICI Securities, JM Financial, and local units of Citigroup, HSBC and Bank of America to work on the share sale. The mandates are expected to be formalized soon, and the company could be valued at around $14bn.
MiniMax is said to plan pricing Hong Kong IPO at top on AI fervor. ( Bloomberg)
MiniMax plans to price its Hong Kong initial public offering at the top of the marketed range, reflecting strong investor appetite for Chinese startups that are increasingly competing with US rivals such as OpenAI.
The Shanghai-based company has indicated that the offer price will be set at HKD165 ($21.2) per share, with order books expected to close early for institutional investors due to robust demand, ending at 5 p.m. local time on January 12, a day ahead of the original schedule.
Goldman seeks to raise $500m for Japan real estate fund. ( Bloomberg)
Goldman Sachs is raising a Japan-focused real estate fund, targeting about $500m to invest in property assets across the country.
The New York-based firm has been marketing the vehicle to investors in recent months, seeking to tap renewed interest in Japan’s property market amid low financing costs and a weak yen that has boosted the appeal of local real estate.
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