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Top Highlights
MetLife Investment Management, the institutional asset management business of MetLife, completed the acquisition of PineBridge Investments, a global asset manager, from Pacific Century Group, a private equity firm, for $1.2bn, according to press releases.
PineBridge was advised by Evercore, JP Morgan and Davis Polk & Wardwell (led by John D. Amorosi). MetLife was advised by Bank of America, A&O Shearman (led by Jonathan Cheng) and FGS Global (led by Drew Brown). Pacific Century Group was advised by White & Case (led by Daniel Latham) , according to press releases and MergerLinks data.
Warburg Pincus, a private equity firm, agreed to invest $225m in OceanFirst, a bank holding company, according to press releases.
OceanFirst is advised by JP Morgan, Keefe Bruyette & Woods and Simpson Thacher & Bartlett (led by Sven Mickisch). Warburg Pincus is advised by Jefferies & Company and Wachtell Lipton Rosen & Katz (led by Mark F. Veblen and Mark Stagliano) , according to press releases and MergerLinks data.
OceanFirst, a bank holding company, agreed to merge with Flushing, a holding company, in a $579m deal, according to press releases.
OceanFirst is advised by JP Morgan, Keefe Bruyette & Woods and Simpson Thacher & Bartlett (led by Sven Mickisch). Flushing is advised by Piper Sandler and Hughes Hubbard & Reed , according to press releases and MergerLinks data.
Deal Round up
AMERICAS
EMEA
Alibaba, Abu Dhabi set to invest in MiniMax’s $600m IPO. ( Bloomberg)
Flacks Group set for exclusive talks on ailing Italy steel plant. ( Bloomberg)
APAC
Vietnam’s GSM weighs overseas IPO, eyes $20bn market value. ( Bloomberg)
Chinese firms make strong Hong Kong debuts, capping bumper listings year. ( Reuters)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
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Read on...
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AMERICAS
Heritage Financial has received regulatory approvals to merge with Olympic Bancorp and combine Kitsap Bank into Heritage Bank, with closing expected around January 31, 2026, creating a stronger regional banking platform in the Puget Sound area.
Olympic Bancorp is advised by Piper Sandler and Otteson Shapiro. Heritage Financial is advised by D.A. Davidson & Co and Barack Ferrazzano Kirschbaum & Nagelberg (led by Joseph T. Ceithaml), according to press releases and MergerLinks data.
Cvent, a SaaS provider, agreed to acquire ON24, a webinar and event marketing platform, for $400m, according to press releases.
Cvent is advised by William Blair & Co and Simpson Thacher & Bartlett. ON24 is advised by Goldman Sachs and DLA Piper, according to press releases.
Prysmian, a company specializing in transmission and storage systems, and Fincantieri, a shipbuilding company, agreed to acquire Xtera, a network equipment and services company, from HIG Capital, a global alternative asset investment firm, according to press releases. Financial terms are not disclosed.
BCP, a financial institution, agreed to acquire Helm Bank, a financial services provider, for $180m, according to press releases.
EMEA
United Infrastructure, a provider of solutions for the UK's critical infrastructure, completed the acquisition of UK United Kingdom Transmission & Distribution engineering business from John Wood Group, an engineering and consulting business, for £57m ($76m).
John Wood Group was advised by FTI Consulting (led by Alex Le May).
Octopus Energy, a UK-based retail electricity and gas supplier, agreed to spin-off Kraken, a technology company focused on creating a smart, sustainable energy system, in a $8.65bn deal, according to press releases.
Alibaba, Abu Dhabi set to invest in MiniMax’s $600m IPO. ( Bloomberg)
Chinese AI startup MiniMax has lined up Alibaba Group Holding and the Abu Dhabi Investment Authority as cornerstone investors for its planned Hong Kong IPO, aiming to raise more than $600m, with investor orders expected to begin this week ahead of a January 2026 listing.
Flacks Group set for exclusive talks on ailing Italy steel plant. ( Bloomberg)
Italy’s Ilva steelworks takeover committee has recommended exclusive talks with US private-equity firm Flacks Group, citing its investment plans, job protections and prospects to boost production.
APAC
Meta, a technology company, completed the acquisition of Manus, a conversational platform, according to press releases. Financial terms were not disclosed.
KKR-backed Kreate, an alternative investment manager, completed the acquisition of Cheongna logistics center, according to press releases. Financial terms were not disclosed.
Vietnam’s GSM weighs overseas IPO, eyes $20bn market value. ( Bloomberg)
Vietnamese electric-vehicle taxi operator Green & Smart Mobility, owned by the country’s richest man, is exploring an overseas IPO that could value the company at around $20bn. GSM said it is working with advisers to assess options, while stressing that no listing is planned for 2026.
Chinese firms make strong Hong Kong debuts, capping bumper listings year. ( Reuters)
Chinese companies posted strong gains in their Hong Kong trading debuts after raising about HKD7bn ($900m), capping a resurgent year for listings as the city led Asian equity capital markets. IPOs in Hong Kong raised HKD285.8bn ($37bn) in 2025, with average first-day gains of around 40%, and momentum is expected to carry into 2026 as more tech and AI firms line up to list.
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