Johnson & Johnson to acquire Intra-Cellular Therapies for $14.6bn.

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AMERICAS

Aura Minerals completes the acquisition of Bluestone Resources for $74m.

Aura Minerals, a multi-national mining company that owns and operates gold and copper mines, completed the acquisition of Bluestone Resources, a Canadian-based precious metals exploration and development company, for $74m.

Bluestone Resources was advised by GenCap Mining Advisory, Blake Cassels & Graydon, Paul Weiss Rifkind Wharton & Garrison (led by Christopher Cummings) and Stikeman Elliott. Aura Minerals was advised by Dorsey & Whitney and Gowling WLG (led by France Tenaille and Ian Mitchell).

Eli Lilly to acquire Scorpion Therapeutics for $2.5bn.

Eli Lilly, an American multinational pharmaceutical company, agreed to acquire Scorpion Therapeutics, a clinical-stage, precision oncology biotechnology company, for $2.5bn.

Eli Lilly is advised by Citigroup and Ropes & Gray. Scorpion Therapeutics is advised by Centerview Partners, Morgan Stanley and Kirkland & Ellis.

GTCR completes the investment in Winged Keel Group.

GTCR, a private equity firm, completed the investment in Winged Keel Group, an independent life insurance brokerage firm. Financial terms were not disclosed.

Winged Keel Group was advised by Houlihan Lokey, Finn Dixon & Herling and Foley Hoag. GTCR was advised by Ardea Partners and Simpson Thacher & Bartlett.

Apollo to acquire Argo Infrastructure Partners.

Apollo, a provider of alternative asset management and retirement solutions, agreed to acquire Argo Infrastructure Partners, a mid-market asset manager targeting essential infrastructure assets in North America. Financial terms were not disclosed.

Argo Infrastructure Partners is advised by Fenchurch Advisory Partners, Latham & Watkins and Edelman (led by Ira Gorsky). Apollo Global is advised by Paul Weiss Rifkind Wharton & Garrison (led by David C. Hepp and Joseph Glatt).

GSK to acquire IDRx for $1.15bn.

GSK, a British multinational pharmaceutical and biotechnology company, agreed to acquire IDRx, a Boston-based, clinical-stage biopharmaceutical company, for $1.15bn.

IDRx is advised by Centerview Partners and Goodwin Procter (led by Robert Puopolo, Blake Liggio and Caitlin Tompkins). GSK is advised by Leerink Partners.

Pelican Energy Partners completes the acquisition of Lancs Industries.

Pelican Energy Partners, a highly specialized private equity fund, completed the acquisition of Lancs Industries, a provider of radiation containment and shielding solutions. Financial terms were not disclosed.

Lancs Industries was advised by Cairncross & Hempelmann. Pelican Energy Partners was advised by McGuireWoods.

Pershing Square to invest an additional $1bn in Howard Hughes.

Pershing Square, an American hedge fund management company, is set to invest an additional $1bn in Howard Hughes, a real estate development and management company.

ADIA to invest $500m in AlphaGen.

ADIA, a sovereign wealth fund owned by the Emirate of Abu Dhabi, agreed to invest $500m in AlphaGen, a critical power infrastructure owner and operator.

New Enterprise Associates, Yosemite, Regeneron Ventures and Hevolution Foundation lead a $175m funding round in Tune Therapeutics.

New Enterprise Associates, Yosemite, Regeneron Ventures and Hevolution Foundation led a $175m funding round in Tune Therapeutics, an epigenome editing company.

Venture Global targets $110bn valuation in landmark IPO. (SEC Filing)

Venture Global, a liquefied natural gas exporter, is aiming for a valuation of up to $110.38bn in its US initial public offering. This marks the potential first blockbuster IPO of 2025.

Based in Arlington, Virginia, the company plans to raise as much as $2.30bn through the offering. If successful, it would be the largest energy company listing in New York in over a decade, signaling a strong start to the year for the IPO market.

EMEA

AustralianSuper to acquire a 50% stake in a logistics real estate portfolio from Oxford Properties at a €840m valuation.

AustralianSuper, an Australian superannuation fund, agreed to acquire a 50% stake in a logistics real estate portfolio from Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System, at a €840m ($860m) valuation.

AustralianSuper is advised by Savills. Oxford Properties is advised by Eastdil Secured.

ADQ to acquire Aramex for $1.2bn.

ADQ, a sovereign wealth fund based in Abu Dhabi, offered to acquire Aramex, an Emirati multinational logistics, courier and package delivery company, for $1.2bn.

ADQ is advised by Rothschild & Co.

Regeneron leads a $320m Series C round in Truveta.

Regeneron, a biopharmaceutical company, led a $320m Series C round in Truveta, a collective of US health systems delivering electronic health record data, with participation from Illumina.

Germany explores sale of Uniper stake after nationalization. (Reuters)

Berlin is exploring potential buyers for Uniper, the $18.8bn energy utility, in a move that could involve selling the government’s entire stake. Germany currently owns 99.12% of Uniper, having nationalized the company in 2022 during Europe’s energy crisis.

While the government’s preferred option is a partial stake sale or a re-IPO involving approximately 25% of the company, it is also considering a full exit from its holding in a single transaction. Discussions remain preliminary, and no final decision has been made.

South African regulator urges African Rainbow Capital to divest produce agency stake. (Bloomberg)

South Africa's antitrust regulator has recommended that African Rainbow Capital, backed by billionaire Patrice Motsepe, divest its stake in one of the nation’s largest fresh agricultural produce agencies, citing anti-competitive practices.

The Competition Commission highlighted that African Rainbow Capital holds substantial stakes in both the RSA Group and Subtropico, which together control between 50% and 90% of South African markets for staple fruits and vegetables, including potatoes, apples, bananas, onions, and tomatoes. The regulator argues that this dominance is hindering market competition.

EG Group plans $13bn IPO in New York. (Financial Times)

EG Group, the petrol station operator backed by private equity firm TDR Capital, is preparing for an initial public offering in New York as early as this year, with a potential valuation of around $13bn.

The IPO would allow TDR Capital to partially divest its investment in the company, which it first entered into more than a decade ago in partnership with Blackburn’s billionaire Issa brothers, Zuber and Mohsin.

APAC

Bain Capital raises bid for Australia's Insignia to $1.8bn. (Press Release)

Shares of Australia's Insignia Financial have surged to their highest level in over three years as a bidding war between private equity firms Bain Capital and CC Capital intensified. Bain Capital raised its offer for Insignia Financial to AUD2.87bn ($1.76bn), matching CC Capital's bid.

The revised offer values Insignia shares at AUD4.30 ($2.64) each, a 7.5% premium over Bain's previous offer and a 4.4% premium above the last closing price of AUD4.12 ($2.54).

Insignia Financial is advised by Citigroup, Gresham and King & Wood Mallesons.

PAG completes the acquisition of a majority stake in Pravesha.

PAG, an Asia-focused alternative investment firm, completed the acquisition of a majority stake in Pravesha, a largest pharma-focused packaging company. Financial terms were not disclosed.

PAG was advised by Adfactors PR (led by Apurv Gupta).

Yinson nears investor commitments for $1.5bn funding round. (Bloomberg)

Malaysian energy infrastructure firm Yinson is close to securing investors for a significant funding round in its unit specializing in offshore oil and gas equipment.

Abu Dhabi Investment Authority, British Columbia Investment Management, and RRJ Capital are expected to commit $1bn in redeemable convertible preference shares as early as this week. The same investors are anticipated to contribute an additional $500m at a later, yet-to-be-determined date.

GCash prepares for record $1.5bn Philippine IPO. (Economic Times)

Philippine fintech company GCash has enlisted banks, including Citi, Jefferies, and UBS, to lead its domestic initial public offering worth up to $1.5bn. If successful, this would mark the largest stock offering in the country’s history.

The IPO is anticipated to take place as early as the second half of 2025 or in 2026, contingent on favorable market conditions.

CATL prepares for major Hong Kong listing with top banks as lead arrangers. (Bloomberg)

Contemporary Amperex Technology is set to appoint Bank of America, China International Capital, CSC Financial, and JP Morgan as lead arrangers for its upcoming secondary listing in Hong Kong.

The listing could become one of the largest offerings in Hong Kong in recent years. Additional banks are expected to join the effort.

Macquarie Asset Management appoints Gabriel Ho as managing director for Southeast Asia. (FSA)

Macquarie Asset Management has announced the appointment of Gabriel Ho as managing director to bolster its investment activities in Southeast Asia.

With 17 years of investment experience, Ho brings a wealth of expertise to the Australian asset manager. Prior to joining Macquarie, he served as a partner and investment committee member at Dymon Asia Private Equity, a private equity fund focused on Southeast Asia.

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