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Top Highlights
Mallinckrodt, an American-Irish domiciled manufacturer of specialty pharmaceuticals, agreed to merge with Endo, an American diversified pharmaceutical company, in a $6.7bn deal, according to press releases.
Mallinckrodt is advised by Lazard, Arthur Cox, Hogan Lovells, Wachtell Lipton Rosen & Katz (led by Victor Goldfeld) and Joele Frank (led by Michael Freitag). Endo is advised by Goldman Sachs, A&L Goodbody, Davis Polk & Wardwell and Paul Weiss Rifkind Wharton & Garrison (led by James E. Langston and Chelsea Darnell), according to press releases and MergerLinks data.
Piraeus, a financial holdings company, agreed to acquire a 90% stake in Ethniki Insurance, an insurance firm in Greece, from CVC, a private equity firm, for €600m ($654m), according to press releases.
Piraeus is advised by Milliman, UBS, Milbank and Moratis Passas, according to press releases.
Ferrovial, a transport infrastructure and urban services company, and CPP Investments, a global investment management organization, agreed to acquire a 6.76% stake in 407 ETR, an all-electronic, barrier-free, 400-series toll highway located in Canada, from AtkinsRéalis, an engineering, procurement and construction services provider, for CAD2.79bn ($1.9bn), according to press releases.
AtkinsRéalis is advised by RBC Capital Markets and Norton Rose Fulbright, according to press releases.
Deal Round up
AMERICAS
Advent said to weigh Ultra PCS sale as interest in defense rises. ( Bloomberg)
ADM is said to consider selling futures clearing arm. ( Bloomberg)
Bluejay Therapeutics said to weigh IPO as soon as next month. ( Bloomberg)
Intel appoints chip industry veteran Lip-Bu Tan as CEO. ( Press Release)
EMEA
Warburg Pincus, KKR consortium in talks to buy Gerresheimer. ( Bloomberg)
Fintech billionaire’s firm said in talks to buy Rabobank Turkey. ( Bloomberg)
Royal London closes in on £130m purchase of 'super sewer' investor. ( Sky News)
Donatella Versace steps down as design chief as sale talk swirls. ( Press Release)
APAC
Couche-Tard doubles down on friendly takeover of 7-Eleven owner. ( WSJ)
Malaysia's Capital A looks to raise funds for logistics, digital arms. ( DealStreetAsia)
South Korea’s DN Solutions said to seek about $1bn in Seoul IPO. ( Bloomberg)
Swiggy-backer Bessemer Venture Partners raises $350m for second India fund. ( Press Release)
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AMERICAS
BNY, an American banking and financial services corporation, completed the acquisition of a minority stake in EquiLend, a global financial technology firm, according to press releases. Financial terms were not disclosed.
EquiLend was advised by Vested, according to press releases.
PSP Investments, a Canadian Crown corporation managing pension investments, agreed to acquire a 7.51% stake in 407 ETR, an all-electronic, barrier-free, 400-series toll highway located in Canada, from CPP Investments, a global investment management organization, for $2.39bn, according to press releases.
SoftBank Vision Fund 2, a technology-focused investment fund, led a $130m Series C round in Terabase, a provider of digital and automation solutions for utility-scale solar power, according to press releases.
Wonder, an at-home dining and food delivery platform, completed the acquisition of Tastemade, a media company offering food, travel and home & design-related programming, for $90m, according to WSJ.
Advent said to weigh Ultra PCS sale as interest in defense rises. ( Bloomberg)
Advent International is in the early stages of exploring options for Ultra Precision Control Systems as demand for defense-related assets grows.
The private equity firm is holding informal discussions with potential advisers regarding a possible divestment of the business, which could be valued at around $1bn.
ADM is said to consider selling futures clearing arm. ( Bloomberg)
Archer-Daniels-Midland is exploring the sale of its futures brokerage arm as part of efforts to reduce costs.
The commodities trading and food-processing conglomerate is working with a financial adviser to find a buyer for ADM Investor Services. Discussions are ongoing, and no final decision has been made.
Bluejay Therapeutics said to weigh IPO as soon as next month. ( Bloomberg)
Bluejay Therapeutics, a drug developer specializing in serious viral and liver diseases, is considering a US initial public offering.
The company could list as soon as next month and is working with JPMorgan Chase, Jefferies Financial, and Cantor Fitzgerald on the potential IPO, which could raise at least $150m.
Intel appoints chip industry veteran Lip-Bu Tan as CEO. ( Press Release)
Intel has appointed former board member and chip industry veteran Lip-Bu Tan as CEO, effective March 18, signaling that the company is unlikely to separate its chip design and manufacturing operations.
The move comes three months after Intel removed CEO Pat Gelsinger, whose costly turnaround strategy had struggled to gain investor confidence.
EMEA
Cyber Guru, a cybersecurity awareness training platform, agreed to acquire Mantra, a provider of advanced cybersecurity awareness solution, according to press releases. Financial terms were not disclosed.
Cyber Guru is advised by Chammas & Marcheteau (led by Denis Marcheteau) and Noesis, according to press releases and MergerLinks data.
Keensight Capital, a private equity firm, agreed to acquire a majority stake in ACTICO Group, an international provider of digital solutions, according to press releases. Financial terms were not disclosed.
Keensight Capital is advised by Headland Consultancy (led by Stephanie Ellis), according to press releases and MergerLinks data.
Invest-NL, the Dutch National Promotional Institution, led a €20m ($22m) round in Thorizon, a company that develops and deploys cutting-edge technology for molten salt reactors, with participation from Positron Ventures, PDENH, and Impuls Zeeland, according to press releases.
Thorizon is advised by De Brauw Blackstone Westbroek (led by Jaap Barneveld), according to press releases and MergerLinks data.
Euronext, a pan-European stock exchange and market infrastructure, agreed to acquire Admincontrol, a provider of governance and secure collaboration Software as a Service solutions in the Nordics and in the UK, from Visma, a provider of business software and services, for €398m ($434m), according to press releases.
Warburg Pincus, KKR consortium in talks to buy Gerresheimer. ( Bloomberg)
A consortium of Warburg Pincus and KKR is in talks to acquire Gerresheimer, the German manufacturer of drug and cosmetic packaging.
The private equity firms have emerged as the frontrunner after teaming up, while other potential bidders, including Bain Capital, have dropped out. The stock has risen around 11% this year, giving the company a market value of approximately €2.7bn ($2.9bn).
Fintech billionaire’s firm said in talks to buy Rabobank Turkey. ( Bloomberg)
Kaspi.kz, the fintech firm led by billionaire Vyacheslav Kim, is in talks to acquire Rabobank Group’s Turkish unit, which would mark its second acquisition in the country.
Discussions are ongoing, and any potential deal would require approval from Turkish regulators. No final decision has been made.
Royal London closes in on £130m purchase of 'super sewer' investor. ( Sky News)
Royal London has entered exclusive talks to acquire Dalmore Capital, the infrastructure investor that holds a stake in London’s new "super sewer."
The financial mutual has emerged as the top contender for the deal, with Dalmore managing approximately £6bn ($7.7bn) in assets. Discussions are ongoing, and terms have yet to be finalized.
Donatella Versace steps down as design chief as sale talk swirls. ( Press Release)
Donatella Versace will step down as chief creative officer of Versace after nearly three decades at the company founded by her late brother Gianni.
The announcement from owner Capri Holdings comes as reports indicate that Prada is moving closer to acquiring Versace for nearly €1.5bn ($1.6bn).
APAC
Green Street, a commercial real estate research, news, data, analytics and advisory services provider, completed the acquisition of Australian Property Journal, a commercial property and residential real estate news site, according to press releases. Financial terms were not disclosed.
Green Street was advised by MinterEllison. Australian Property Journal was advised by McDonnell Advisory and BlueRock Law, according to press releases.
Blackstone, an American multinational private equity firm, agreed to acquire a 40% stake in Kolte-Patil, an Indian real estate developer, for $134m, according to Reuters.
Couche-Tard doubles down on friendly takeover of 7-Eleven owner. ( WSJ)
Alimentation Couche-Tard will continue its friendly pursuit of Seven & i despite frustrations over slow progress in acquisition talks with the Japanese owner of the 7-Eleven convenience store chain.
Couche-Tard’s founder and executive chairman, Alain Bouchard, stated at a news conference in Tokyo that the company remains committed to reaching a mutually agreeable transaction with Seven & i.
Malaysia's Capital A looks to raise funds for logistics, digital arms. ( DealStreetAsia)
Malaysia’s Capital A plans to raise external capital for its logistics and digital units, including potential future listings, as the company continues its financial restructuring.
Originally launched as budget carrier AirAsia, Capital A is moving forward with efforts to strengthen its financial position and expand its non-aviation businesses.
South Korea’s DN Solutions said to seek about $1bn in Seoul IPO. ( Bloomberg)
South Korean machinery maker DN Solutions is planning an initial public offering in Seoul, aiming to raise between $800m and $1bn, in what could be the country’s largest listing this year.
A prospectus may be filed as soon as this week, allowing the company and its bankers to begin investor meetings to assess demand.
Swiggy-backer Bessemer Venture Partners raises $350m for second India fund. ( Press Release)
Bessemer Venture Partners, an early investor in Swiggy, has raised $350m for an India-focused fund aimed at AI-enabled businesses, fintechs, and direct-to-consumer brands.
The US-based venture capital firm plans to deploy the fund starting mid-2025, continuing its focus on young Indian businesses. Over the past five years, 80% of its investments in India have been in early-stage startups.
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