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Top Highlights
One Rock Capital, a private equity firm, completed the acquisition of Europe Snacks, a private label manufacturer of savory snacks for the European market. Financial terms were not disclosed.
One Rock Capital was advised by Natixis Partners, Spayne Lindsay & Co, Latham & Watkins (led by Gaetan Gianasso and Simon Lange) and Prosek Partners. Debt financing was provided by Barclays, Goldman Sachs, Natixis Partners, Rabobank, Raiffeisen and Santander.
CVC Capital Partners, a Luxembourg-based private equity and investment advisory firm, completed the acquisition of Therakos business of Mallinckrodt, a global specialty pharmaceutical company, for $925m.
KKR, a global investment firm, and Baupost, a hedge fund agreed to acquire 33 Marriott international hotels in the UK from Abu Dhabi Investment Authority, a sovereign wealth fund. Financial terms were not disclosed.
KKR is advised by DLA Piper, Ropes & Gray and Simpson Thacher & Barlett. Abu Dhabi Investment Authority is advised by Hamilton Pyramid, Eastdil Secured and Burges Salmon. Debt financing is provided by Eastdil Secured and KKR Capital Markets.
Deal Round up
AMERICAS
Intel CEO Gelsinger departs amid struggles with chipmaker's turnaround. (Press Release)
EMEA
Saudi poultry giant Alwatania explores potential sale. ( Bloomberg)
Unilever CEO plans to divest food brands worth $1bn in sales. ( Reuters)
Saudi cosmetics retailer Nice One launches $320m IPO. ( Bloomberg)
Worldline garners preliminary interest from private equity firms. ( Reuters)
APAC
FineToday delays IPO due to market conditions. ( Bloomberg)
HKBN confirms takeover interest from I Squared Capital. ( Press Release)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
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AMERICAS
Innovex, a provider of products and technologies to the oil and gas industry, completed the acquisition of Downhole Well Solutions, a provider of proprietary drilling optimization and friction reduction tools. Financial terms were not disclosed.
ASSA ABLOY, a provider of products and services related to locks, doors, gates, and entrance automation, completed the acquisition of Premier Steel Doors and Frames, a US manufacturer of hollow metal doors and frames, metal building door systems, and aluminium windows. Financial terms were not disclosed.
Intel CEO Gelsinger departs amid struggles with chipmaker's turnaround. (Press Release)
Intel CEO Pat Gelsinger retired from the company after a 40-plus-year career and stepped down from the board of directors, effective December 1 2024.
Intel has named two senior leaders, David Zinsner and Michelle Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new CEO. Zinsner is executive vice president and chief financial officer, and Holthaus has been appointed to the newly created position of CEO of Intel Products, a group that encompasses the company’s Client Computing Group, Data Center and AI Group and Network and Edge Group.
EMEA
Spectris, a supplier of precision instrumentation and controls, completed the acquisitions of Piezocryst Advanced Sensorics, a provider of piezoelectric sensors, from AVL List, an automotive company, for €134m ($142m).
Cyber_Folks, a group of rapidly growing technology players in the area of business digitization, agreed to acquire a 49.9% stake in Shoper, an e-commerce infrastructure provider in Poland, for PLN548m ($135m).
The government of Denmark is set to acquire an additional 59.4% stake in Copenhagen Airports, the international airport serving Copenhagen, for DKK32bn ($4.53bn).
Zain Group, a Kuwaiti mobile telecommunications company, agreed to acquire a 70% stake in the Kuwait operations of IHS Towers, one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, for $161m.
EQT, a private equity firm investing in healthcare, consumer goods, industrial, energy, and environmental industries, and GIC, a sovereign wealth fund established by the Government of Singapore, agreed to acquire a majority stake in Calisen, an owner and manager of essential energy infrastructure assets, from Global Infrastructure Partners, an infrastructure investment fund, Goldman Sachs Alternatives, a private equity firm, and Mubadala, an Abu Dhabi's sovereign wealth fund. Financial terms were not disclosed.
Aldebaran, a French institutional investment fund, completed the acquisition of PAM Building, a manufacturer of sanitary and rainwater drainage solutions for buildings, from Saint-Gobain, a company designs, manufactures and distributes materials and services for the construction and industrial markets. Financial terms were not disclosed.
Insight Partners, a global software investor, completed an investment in Cosmo Tech, a provider of AI Simulation software for enterprise decision making. Financial terms were not disclosed.
Rio Ferdinand, a football star, completed the investment in Koora Break, a Saudi Arabia-based sports platform. Financial terms were not disclosed.
Saudi poultry giant Alwatania explores potential sale. ( Bloomberg)
Alwatania, the Middle East’s largest poultry producer, is reportedly considering a sale amid Saudi Arabia's emphasis on achieving food self-sufficiency, which has boosted the sector's attractiveness.
The company has appointed BSF Capital as its advisor. A potential deal could value Alwatania at up to SAR2bn ($532m).
Unilever CEO plans to divest food brands worth $1bn in sales. (Reuters)
Unilever CEO Hein Schumacher revealed plans to sell food brands generating approximately €1bn ($1.05bn) in annual revenue.
In an interview with the Dutch financial daily FD, Schumacher did not specify which brands are under consideration, aligning with the company's ongoing efforts to streamline its food business.
Historically, Unilever has worked with Morgan Stanley, Ernst & Young, Baker McKenzie and Linklaters, according to MergerLinks data.
Saudi cosmetics retailer Nice One launches $320m IPO. ( Bloomberg)
Online cosmetics retailer Nice One Beauty is set to raise up to SAR1.21bn ($322m) through an IPO in Riyadh.
The offering will include a 30% stake, priced at SAR32 ($8.5) to $35 ($9.3) per share, valuing the company at SAR4bn ($1.1bn) at the higher end of the price range. This listing adds to a surge in IPOs in Saudi Arabia this year.
Worldline garners preliminary interest from private equity firms. ( Reuters)
French payments group Worldline has attracted early-stage takeover interest from private equity firms as it navigates challenges including a declining share price, profit warnings, and leadership changes.
Among the firms showing initial interest is Bain Capital, which is reportedly evaluating a potential bid for the company.
Historically, Worldline has worked with Morgan Stanley, BNP Paribas, Cleary Gottlieb Steen & Hamilton and Latham & Watkins, according to MergerLinks data.
APAC
Northern Star, a manufacturer of precious metals, agreed to acquire De Grey, a gold mining company, for AUD5bn ($3.2bn).
De Grey is advised by Azure Capital, Barclays, Barrenjoey Capital Partners, Gilbert + Tobin and Steinepreis Paganin. Northern Star is advised by Macquarie Group and King & Wood Mallesons.
Volution Group, an energy-efficient indoor air quality solutions provider, completed the acquisition of Fantech Group, a ventilation equipment company, for £144m ($184m).
GE HealthCare, a global medical technology, pharmaceutical diagnostics, and digital solutions innovator, agreed to acquire the remaining 50% stake in Nihon Medi-Physics, a pharmaceutical manufacturing firm, from Sumitomo Chemical, a major Japanese chemical company. Financial terms were not disclosed.
GE Healthcare is advised by Solomon Partners.
Bureau Veritas, a provider of inspection, certification, and laboratory testing services, completed the acquisition of The App Group, a business consulting and services firm. Financial terms were not disclosed.
Sinar Mas-backed Living Lab Ventures, a venture capital firm, completed the investment in Liven, a hospitality platform. Financial terms were not disclosed.
FineToday delays IPO due to market conditions. ( Bloomberg)
Japanese personal-care firm FineToday, backed by CVC Capital, has postponed its planned December 17 listing on the Tokyo Stock Exchange Prime Market, citing unfavorable market conditions.
Initially expected to be valued at JPY219.4bn ($1.5bn), the company had planned to finalize its price range and offering price in early December.
HKBN confirms takeover interest from I Square Capital. (Press Release)
Hong Kong-listed broadband provider HKBN has received a preliminary, non-binding takeover proposal from I Squared Capital. The global infrastructure investment firm has suggested acquiring all outstanding HKBN shares through its portfolio company, HGC Global Communications.
Negotiations are ongoing, with discussions focusing on terms and pricing. Trading in HKBN shares is scheduled to resume on December 3.
Historically, I Squared Capital has worked with Goldman Sachs, Barclays, Gibson Dunn & Crutcher and Linklaters, according to MergerLinks data.
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