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AMERICAS

Advent International to acquire PatientPoint from L Catterton and Littlejohn & Co.

Advent International, a private equity investor, agreed to acquire PatientPoint, a digital point-of-care network, strategically delivering behavior-changing content and measurable outcomes for patients, providers, and health brands, from L Catterton and Littlejohn & Co, two private equity firms, according to press releases. Financial terms were not disclosed.

PatientPoint is advised by Citigroup, Jefferies & Company and Gibson Dunn & Crutcher. Advent International is advised by Solomon Partners and Ropes & Gray (led by Christian Westra and Matthew Richards). Littlejohn & Co is advised by Gasthalter & Co (led by Nathaniel Garnick), according to press releases.

Koch Equity Development completes the acquisition of iconectiv from Ericsson and Francisco Partners.

Koch Equity Development, a private equity firm, completed the acquisition of iconectiv, a supplier of network planning and management services for communications providers, from Ericsson, a provider of telecommunications equipment, and Francisco Partners, an investment firm, according to press releases. Financial terms were not disclosed.

iconectiv was advised by Goldman Sachs, Jefferies & Company and Latham & Watkins (led by Elizabeth Mims Slawsby, Nick Cline and J. Ryan McCarthy). Koch Equity was advised by Citigroup, Rothschild & Co (led by David Baron), and Jones Day, according to press releases and MergerLinks data.

MannKind to acquire scPharmaceuticals for $360m.

MannKind, a biopharmaceutical company, agreed to acquire scPharmaceuticals, a clinical-stage pharmaceutical company focused on advancing cardiorenal care, for $360m, according to press releases.

scPharmaceuticals is advised by Leerink Partners and Latham & Watkins. MannKind is advised by Jefferies & Company and Cooley, according to press releases.

Vornado to acquire 623 Fifth Avenue office condominium for $218m.

Vornado Realty Trust, an American REIT engaged in the ownership and operation of office, retail, and showroom properties, agreed to acquire 623 Fifth Avenue office condominium for $218m, according to press releases.

Forager Capital to acquire the remaining 90.3% stake in Quipt Home Medical for $134m.

Forager Capital, a hedge fund manager, offered to acquire the remaining 90.3% stake in Quipt Home Medical, a provider of durable and home medical equipment and supplies in the United States, for $134m.

White House's Hassett says US could take stakes in other chip companies. (Reuters)

The US government may consider taking equity stakes in additional semiconductor companies, or potentially in other industries, following its recent investment in Intel, White House economic adviser Kevin Hassett noted.

Hassett indicated that future transactions could involve companies in the AI and chip sector, such as AMD or TSMC, as well as other industries that receive federal subsidies.

Wall Street hires more senior bankers as growing confidence spurs deal rebound. (Reuters)

Wall Street banks have brought on dozens of senior executives in recent months, reflecting a pickup in hiring as economic sentiment improves. The rebound comes after activity slowed earlier in the year, when concerns over US tariffs weighed on markets and dealmaking.

The increase in job moves, which often clusters in the spring, underscores how greater confidence has prompted banks to strengthen their teams in anticipation of a renewed wave of mergers and initial public offerings.

EMEA

Terumo to acquire OrganOx for $1.5bn.

Terumo, a global medical device company, agreed to acquire OrganOx, a commercial-stage organ technology company, for $1.5bn, according to press releases.

OrganOx is advised by Perella Weinberg Partners, Piper Sandler, and Latham & Watkins (led by Robbie McLaren), according to press releases.

TransPerfect completes the acquisition of Unbabel.

TransPerfect, a provider of language and AI solutions for global business, completed the acquisition of Unbabel, a language AI company, according to press releases. Financial terms were not disclosed.

TransPerfect was advised by Baker Botts and DLA Piper. Unbabel was advised by Orrick Herrington & Sutcliffe, according to press releases.

AIS completes the acquisition of Ovun from Investinor, Salvesen & Thams Invest, Norsk Mineral and Oskar Sylte.

AIS, a leader in engineering, manufacturing and application of insulation, passive fire protection, buoyancy, battery protection, completed the acquisition of Ovun, a provider of integrated, high-tech polymer-based products and solutions designed for exceptional durability and reliability, from Investinor, Salvesen & Thams Invest, Norsk Mineral and Oskar Sylte, according to MergerLinks data. Financial terms were not disclosed.

Investinor, Salvesen & Thams Invest, Norsk Mineral and Oskar Sylte were advised by SEB Corporate Finance, according to MergerLinks data.

TAQA to acquire GS Inima from GS Engineering & Construction for $1.2bn.

TAQA, a government controlled energy holding company, agreed to acquire GS Inima, a water treatment and water desalination company, from GS Engineering & Construction, a Korean global contractor, for $1.2bn, according to press releases.

Coca-Cola explores sale of Costa Coffee. (Reuters)

US soft drinks giant Coca-Cola is working with investment bank Lazard to review strategic options for British coffee chain Costa, including a potential sale. The company has already held preliminary discussions with a small number of potential bidders, including private equity firms.

Coca-Cola, Costa and Lazard have yet to issue statements on the review. Discussions are still at an early stage, and no decision has been reached on whether to proceed with a sale or explore other alternatives. The process reflects Coca-Cola’s broader assessment of Costa’s role in its portfolio as the global coffee market continues to evolve.

New Look owners pick bankers to fashion sale process. (Sky News)

New Look’s owners, Alcentra and Brait, have appointed Rothschild to lead a strategic review of the UK fashion retailer, which could result in a sale in 2026. The move comes after the company received multiple unsolicited acquisition approaches.

The review is expected to include an auction process, with potential bidders likely to be identified in the coming months. New Look operates nearly 340 stores and employs around 10k people.

Berlin renews opposition to UniCredit's Commerzbank approach. (Press Release)

The German government continues to oppose UniCredit's plans to take over Commerzbank, describing the approach as "uncoordinated and unfriendly," a finance ministry spokesperson said on August 25. Berlin also confirmed it will not sell its shares in the German lender.

Italy’s UniCredit said on the same day that it had increased its voting rights in Commerzbank to roughly 26% by converting more of its synthetic positions into physical shares, strengthening its position as the bank’s largest shareholder.

Pinault family is exploring options for Puma, including a sale. (Bloomberg)

The Pinault family is exploring options for Puma, including a potential sale, after the German sports brand lost about half of its market value over the past year.

The family is working with advisers and has approached potential buyers, including Anta Sports Products and Li Ning, to assess interest. They have also engaged with other sportswear companies in the US and sovereign wealth funds in the Middle East as part of the review process.

Turkey turns to local investors after talks for Izmir port fail. (Bloomberg)

Turkey is turning its focus to local investors after talks to sell operating rights for the Alsancak port in Izmir to the UAE’s AD Ports Group fell through 6 months ago.

Transportation Minister Abdulkadir Uraloglu noted that discussions are ongoing with several Turkish entrepreneurs, some of whom could partner with foreign investors, to manage and invest in the port for a defined period. He did not provide additional details on the potential agreements.

Abu Dhabi's Masdar seeks buyers for stake in rooftop solar firm. (Bloomberg)

Abu Dhabi’s largest renewables company, Masdar, is exploring the sale of its 50% stake in rooftop solar firm Emerge Energy as it shifts focus toward larger-scale projects.

Several potential buyers are in discussions with the company’s advisers and deals team, with no valuation for Emerge disclosed.

APAC

Motilal Oswal led a $156m round in Warburg Pincus-backed Vistaar.

Motilal Oswal, a financial services company, led a $156m round in Warburg Pincus-backed Vistaar, a small business finance company which provides easy MSME & SME business loans, according to press releases.

Vistaar was advised by Avendus, according to press releases.

GCL Global-backed Epicsoft Asia completes the acquisition of Ban Leong Technologies.

GCL Global-backed Epicsoft Asia, a channel partner for games and entertainment software in Asia, completed the acquisition of Ban Leong Technologies, a computer hardware & IT accessories company, according to press releases. Financial terms were not disclosed.

GCL Global was advised by AUM Media, according to press releases.

Santos extends exclusivity for $18.7bn ADNOC-led offer, profit drops. (Press Release)

Australian gas producer Santos has extended the exclusivity period for an $18.7bn takeover proposal from a consortium led by ADNOC, while also reporting a 22% decline in first-half profit that came in better than market expectations.

Santos reported that the due diligence window will now run until September 19, giving ADNOC’s investment arm XRG and its partners more time to work toward a binding offer. Santos shares gained about 1% in response to the update.

Tycoon Cheng family's CTF Services is said to halt the sale of $2bn toll roads. (Bloomberg)

The infrastructure arm of the billionaire Cheng family has paused efforts to sell a portfolio of Chinese toll roads valued at about $2bn, after months of discussions over a potential transaction.

CTF Services, formerly known as NWS Holdings, had been in talks with state-owned Yuexiu Group about a possible deal. The company ultimately opted to retain the assets, which provide steady cash flows.

Mercedes-Benz Pension Trust to sell its 3.8% stake in Nissan Motor. (Reuters)

The pension trust of Mercedes-Benz will sell its roughly $346m stake, equivalent to 3.8%, in Nissan Motor, signaling a notable shift in the ownership of the Japanese automaker. The move adds pressure to Nissan’s share price amid ongoing market uncertainties.

Nissan, Japan’s third-largest automaker, has faced a series of challenges, including US tariffs, corporate restructuring, and declining sales volumes, all of which have contributed to a 24% drop in its share price so far in 2025. The divestment by Mercedes-Benz’s pension trust adds another layer of concern for investors.

Mitsubishi is said to near investment in Fullerton Health. (Bloomberg)

Mitsubishi is nearing an investment in Singapore-based hospital operator Fullerton Health as the Japanese company seeks to expand its presence in Southeast Asia.

Mitsubishi is working with an adviser to acquire about a 25% stake in Fullerton Health, which is backed by private equity firm RRJ Capital. Discussions are progressing rapidly, and a deal could be finalized in the near term.

TPG is said to weigh sale of Asian school operator XCL Education. (Bloomberg)

TPG is exploring a potential sale of Southeast Asian school operator XCL Education, drawing preliminary interest from industry peers and private equity firms.

The firm is working with financial advisers on the possible disposal. If completed, the transaction could value the Singapore-based company at up to $1.5bn. Discussions are ongoing and no final decision has been made.

Prudential's review of $3bn Eastspring is said to stall. (Bloomberg)

Prudential’s review of Eastspring Investments, which explored options including a potential stake sale or partnership for the asset manager, has stalled amid concerns over valuation and deal structure.

The process has been paused as potential buyers showed limited interest in acquiring a minority stake in the Singapore-based firm. Eastspring was estimated to be worth around $3bn, though no formal valuation was disclosed.

Petrobras needs Novonor to exit Braskem before injecting cash. (Bloomberg)

Petroleo Brasileiro, Brazil’s state-controlled oil company, would consider providing additional funding to debt-laden petrochemicals maker Braskem only if its partner sells its stake to a new investor.

Chief Executive Officer Magda Chambriard emphasized that the company wants to avoid nationalizing Braskem. Its current partner, the cash-strapped Brazilian conglomerate Novonor, cannot increase its stake, meaning a new investor would need to step in for any capital injection.

HarbourVest eyes CVC's $600m continuation fund for Korean unicorn. (DealStreetAsia)

HarbourVest Partners has emerged as one of the investors interested in CVC Capital Partners’ plan to transfer its stakes in the South Korean hotel and travel booking company into a continuation fund.

The continuation vehicle is expected to raise between $500m and $600m and is likely to be structured as a syndicate deal, providing existing investors with an opportunity to maintain exposure while allowing CVC to recycle capital.

TPG joins Asia's rush for mid-sized buyouts with latest fund. (Bloomberg)

TPG is joining other major alternative asset managers in raising capital for mid-sized investments in Asia, marking a shift from its traditional focus on larger deals.

The San Francisco-based firm held the first closing of its Asia Emerging Companies Fund in the first quarter. No further details on fundraising targets or investors were disclosed, and TPG has not commented publicly on the fund.

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