Altice Europe entered into an exclusivity agreement with Allianz
Capital Partners, AXA Investment Managers - Real Assets, and Omers Infrastructure regarding the sale of a minority equity stake of 49.99% in SFR FTTH for a total cash consideration of €1.8bn ($2bn) based on a €3.6bn ($4.1bn) equity value.
“I am very pleased that three of the most renowned infrastructure investors in the world are becoming our partners and committing large resources to build the leading FTTH wholesaler in Europe." Patrick Drahi, Altice Founder.
Altice was advised by Lazard, Franklin, Mayer Brown, and Ropes & Gray. Allianz, AXA, and Omers were advised by FTI Consulting.
Ecolab and Bioquell reached agreement on the terms of a recommended cash offer to be made by Ecolab Offeror for the entire issued and to be issued ordinary share capital of Bioquell. The Offer values the entire issued and to be issued ordinary share capital of Bioquell at approximately £141m ($180m).
"Bioquell's bio-decontamination solutions complement Ecolab's daily cleaning and disinfection offerings for cleanrooms and other areas that require an aseptic environment. With Bioquell's suite of solutions and services, Ecolab will offer one of the most comprehensive portfolios of cleaning and decontamination solutions for pharmaceutical and health care environments." Elizabeth Simermeyer, Ecolab Executive Vice President.
Bioquell was advised by N+1 Singer, Brown, Gibbons, Lang & Company, BGL, and Bircham Dyson Bell. Ecolab was advised by EY, and DLA Piper.
Indigo Partners agreed to invest in WOW air. (FS)
Indigo Partners, and WOW air, the Icelandic airline based in Reykjavik, have agreed in principle for Indigo to invest in WOW. WOW air is an ultra-low-cost carrier currently serving 25 destinations across Europe and North America. Financial terms were undisclosed.
"WOW’s management and employees have done a remarkable job in creating a well-regarded, successful brand. We have a strategic vision for the airline, and look forward to working with its employees and agents to deliver that vision.” Bill Franke, Indigo Partners Managing Partner.
WOW air was advised by Plane View Partners.
The firm behind Angry Birds has acquired Finnish strategy game studio Playraven. Financial terms were undisclosed.
"Strategy games is one of the largest genres in mobile games and we believe that by joining forces with PlayRaven's talented and skilled personnel we strengthen our know-how and speed up expansion into strategy games." Kati Levoranta, Rovio CEO.
Siemens workers oppose the EU requirements for Alstom deal.
Siemens workers could oppose what they see as overly drastic EU requirements to approve a planned rail merger with France’s Alstom.
Siemens and Alstom agreed last year to merge their rail operations, creating a company with €15bn ($17bn) in revenue and a workforce of 62k.
The European Union’s antitrust regulator has sent a series of objections to the groups that will force them to come up with specific concessions, which may include asset sales.
Siemens and Alstom aim to create a European champion to challenge the advance of China’s state-owned CRRC.
Vodafone / Liberty Global merger faces full EU antitrust investigation.
Vodafone’s $21.8bn proposed acquisition of Liberty Global’s assets in Germany and eastern Europe is likely to face a full EU antitrust investigation.
Deutsche Telekom has criticized the deal while Telefonica Deutschland and the BREKO business group, which represents German broadband providers, have urged the EU to block the takeover because it would hurt competition.
PKN Orlen plans to acquire Lotos, Polish oil & gas competitor.
Poland’s biggest oil refiner PKN Orlen has notified the European Commission of its plan to take over smaller rival Lotos.
State-run PKN Orlen said in February it plans to buy at least a 53% stake in Lotos, mostly from the state.
The refiner expects Commission approval for the transaction by mid-2019.
Nexstar Media Group has reached an agreement to acquire Tribune Media for about $4.1bn, a deal which would make it the most extensive local U.S. TV station operator.
Nexstar’s acquisition would come just three months after Tribune’s $3.9bn deal to sell itself to Sinclair Broadcast Group; currently the most significant U.S. local TV station operator collapsed over regulatory hurdles.
Nexstar outbid Apollo Global Management with an all-cash offer that values Tribune at around $46.50 per share.
Nexstar, which has a market capitalization of $3.8bn, has lined up banks to provide debt financing for the deal.
Pilot Flying J, the largest North American operator of travel centers and the fourth-largest tanker fleet in the US, purchased equity interest in Equipment Transport from CIVC Partners. This acquisition is one of many strategic partnerships made by Pilot Flying J this year to extend its core logistics business and grow its service offerings in the exploration and production sector. Financial terms were undisclosed.
"Incorporating ET into our Oil Field Logistics platform provides comprehensive, reliable and cost-effective logistical solutions to the Oil and Gas industry." Shameek Konar, Pilot Flying J Chief Strategy Officer.
Equipment Transport was advised by Houlihan Lokey and Winston & Strawn. Pilot Flying J was advised by Bracewell.
A leading global real estate services firm, has signed a definitive agreement to acquire Quality Solutions, a leading asset light facilities management provider, from Gridiron Capital. Financial terms were undisclosed.
“We are fortunate to have worked with such a strong and capable team at QSI and are proud of the success they have achieved. We have enjoyed building a strong partnership with this management team, and we look forward to QSI continuing its growth trajectory as an industry-leading provider of facilities management solutions with Cushman & Wakefield.” Scott Harrison, Gridiron Capital Managing Director.
Gridiron Capital was advised by Piper Jaffray and Finn Dixon & Herling.
Canada Pension Plan Investment Board will invest $500m in Oak Hill Capital's Berlin Packaging. (FS)
Oak Hill Capital Partners and Canada Pension Plan Investment Board have entered into a definitive recapitalization agreement with Berlin Packaging to facilitate the next stage of its growth. As part of the arrangement, CPPIB will make a $500m investment in the Berlin Packaging.
“Berlin Packaging is a market leader with a resilient business model built to deliver economic value and brand differentiation for its customers. Alongside our equity partner, Oak Hill, we look forward to supporting further growth and innovation by this industry-leading company that Andrew Berlin and his team have created, as Berlin Packaging continues to expand its value proposition to customers, suppliers, and employees.” Ryan Selwood, CPPIB Managing Director, Head of Direct Private Equity.
CPPIB was advised by Weil, Gotshal, and Manges.
Acquisition of Aetna by CVS Health may not get the US judge approval.
A federal judge raised the prospect of not approving CVS Health Corp’s deal to buy insurer Aetna Inc, which closed earlier this week, during a routine portion of the legal process.
Judge Richard Leon of the US District Court for the District of Columbia objected to what he said was the government’s and companies’ treatment of him as a “rubber stamp” for the deal, noting that CVS had closed its deal to buy Aetna for $69bn before the judge's approval.
Petrobras considers divesting assets worth up to $15bn.
Brazil’s state-controlled oil company Petroleo Brasileiro is considering divesting up to $15bn within the next few years.
The total divestment goal has not been approved yet and is being discussed for the business plan for 2019-2023 that will be approved by the Petrobras board in December.
Eletrobras will hold an auction to sell Companhia Energetica de Alagoas.
Brazil’s state-controlled power company Centrais Eletricas Brasileiras will hold an auction on Dec. 19 to sell its subsidiary Companhia Energetica de Alagoas.
Eletrobras, as the company is known, is selling several power distribution companies it used to own in Brazil’s Northern region as part of a plan to sell non-core assets and cut debt.
It is expected to sell another distributor, Amazonas Energia, at an auction scheduled for on Dec. 10.
Mikey Lynch faces US criminal charges over the sale of Autonomy to HP.
The United States has filed criminal charges against Mike Lynch over the $11bn sale of Autonomy to HP seven years ago, accusing him of making false statements that inflated the value of the software group.
The charges filed in a court in San Francisco carry a maximum penalty of 20 years in prison and include 14 counts of conspiracy and fraud.
