Novo Holdings to acquire a 60% stake in Single Use Support. (FS)
Novo Holdings, a holding and investment company, agreed to acquire a 60% stake in Single Use Support, a life science tools company. Financial terms were not disclosed.
"Novo Holdings is joining us at a crucial moment as we prepare to further strengthen our global footprint, focusing on markets outside of Europe such as the US and Asia, and to engage with new customers. With significant insights into the life science tools sector and a comprehensive industry network, I am excited to work alongside Novo Holdings and make new strides in our shared mission of bringing better treatments to patients," Christian Praxmarer, Single Use Support CEO.
Novo Holdings is advised by William Blair & Co, Dorda Rechtsanwalte, Kromann Reumert and Wilson Sonsini Goodrich & Rosati. Single Use Support is advised by Jefferies & Company, E+H Rechtsanwälte and Linklaters.
BHP's options for Anglo American deal narrow as deadline looms.
BHP Group's options for its pursuit of rival miner Anglo American include sweetening its $42.7bn buyout offer, making a hostile bid or walking away for now as it approaches a May 22 deadline to lodge a binding offer, Reuters reported.
As BHP weighs its next move, CEO Mike Henry and his team have been making the case for the mega-deal on the sidelines of an investor conference in Miami and elsewhere to its investors, a large proportion of whom also hold shares in Anglo.
Anglo American is advised by Centerview Partners (led by James Hartop and Edward Rowe), Goldman Sachs (led by Mark Sorrell), Morgan Stanley (led by Simon Smith, Tom Perry and Anthony Zammit) and Linklaters. BHP is advised by Barclays (led by Bruce Hart) and UBS (led by David Roberts, Campbell Stewart and Calvin O'Shaughnessy).
Siemens to sell drive division to KPS for €3bn.
Germany's Siemens will sell its Innomotics large motors and drives division to financial investor KPS Capital Partners for €3bn ($3.25bn), Reuters reported.
Siemens will announce the deal on 16 May along with its financial results, said Handelsblatt. KPS primarily invests in industrial companies and sees numerous opportunities for acquisitions in Germany.
KKR readies EU remedies for €22bn Telecom Italia deal. (FS)
KKR is poised to offer a package of commitments aimed at winning an early European Union approval for its €22bn ($23.8bn) bid for Telecom Italia’s land-line network, Bloomberg reported.
The remedies, expected to be filed next week, will likely solve EU concerns over possible price hikes in the wholesale telecom market — paving the way for June approval of the deal.
Royal Mail owner IDS set to agree $4.4bn Kretinsky takeover bid.
Royal Mail's parent company International Distributions Services is set to agree a £3.5bn ($4.42bn) takeover by Daniel Kretinsky if the Czech billionaire tables a formal offer, Reuters reported.
Kretinsky's investment vehicle EP Group sweetened its bid to buy the owner of one the world's oldest postal companies for 370 pence per share, after an earlier bid of 320 pence was rejected by the London-listed firm last month.
Thames Water investors to quit boards amid spectre of bailout.
Representatives of Thames Water's multinational syndicate of shareholders are poised to quit as directors of its corporate entities after refusing to inject the billions of pounds of funding required to bail it out, Sky News reported.
A number of board members at companies connected to Kemble Water Finance, Thames's parent, are expected to resign in the coming days.
Klarna takes fresh step to $20bn US float.
Klarna, the buy now pay later finance giant, has cleared a crucial hurdle on its journey towards a stock market flotation expected to value it at as much as $20bn.
The Stockholm-based consumer credit provider has secured backing from shareholders and regulators to establish a new UK-registered holding company, Sky News reported.
Repsol in talks to sell a slice of its renewable business.
Spanish oil company Repsol is in negotiations to sell a stake in its renewable energy unit, a move to help fund its strategic plan through 2027. The company has received an unsolicited approach by an investor and has lined up Santander as an advisor for the sale, Reuters reported.
Repsol would keep more than 50% of the unit in a transaction that could involve the investor injecting new money into the business, the sources said. Reuters was not able to establish the identity of the investor.
PC maker Raspberry Pi plans London IPO amid listing drought.
British personal computer maker Raspberry Pi is considering an initial public offering in London in what would be the first sizable listing for the city since February, Bloomberg reported.
The company, which makes low-cost computers popular among hobbyists and educators, said it intends to publish a registration document with the London Stock Exchange, without disclosing how much it plans to raise.
Accion launches $152m fund to back financial institutions serving small businesses. (FS)
Accion, a global nonprofit, on May 14 announced the launch of a $152m fund to invest in financial institutions serving small businesses worldwide, DealStreetAsia reported.
The fund, called Accion Digital Transformation Fund, will back companies serving micro, small, and medium enterprises across South and Southeast Asia, Latin America, and Africa. It will be managed by Accion Impact Management.
APAC
ChrysCapital to acquire a minority stake in Centre for Sight from Mahindra & Mahindra for $100m. (FS)
ChrysCapital, a private equity fund, agreed to acquire a minority stake in Centre for Sight, an eye care chain, from Mahindra & Mahindra, an automobile manufacturing company, for $100m.
“The healthcare sector in India is key area focus for ChrysCapital given the significantly underserved market and the potential for share gain for organised players. ChrysCapital is very excited to partner with Centre For Sight, which has exhibited robust growth while maintaining strong profitability. We look forward to working with the team and strengthen CFS’s position as one of the leading healthcare delivery platforms in India,” Raghav Ramdev, ChrysCapital Managing Director.
Tyfon to go public via SPAC merger with Global Technology Acquisition in a $434m deal.
Tyfon, a well-recognized O2O Chinese art marketplace, agreed to go public via SPAC merger with Global Technology Acquisition, a special purpose acquisition company, in a $434m deal.
"It is our great pleasure to have found Tom and the GTAC team earlier this year. We have since engaged in deep discussions with the GTAC team about our business and the vast market we serve, and believe that they can help take our business to the next level. With extensive experience in capital markets, mergers and acquisitions, and a profound understanding of the Asian markets, Tom and his colleagues check all the boxes of great long-term partners of ours," Ting Hu, Tyfon Founder and Chairwoman.
Tyfon is advised by CMD Global Partners, K&L Gates and ICR. GTAC is advised by Sidley Austin (led by Joshua G.L. DuClos, Mike Heinz, Jeff Wysong, Zach Shub-Essig).
UK refers AlphaTheta-Serato DJ tech deal to deeper probe.
Britain's competition regulator referred Japan-based DJ equipment maker AlphaTheta's proposed deal to acquire New Zealand's Serato to a lengthier probe on May 15, Reuters reported.
The move to launch a phase 2 investigation comes two weeks after the Competition and Markets Authority's initial probe found that the deal could weaken competition and reduce innovation, choice, and access to DJ equipment and software.
Axiata, Sinar Mas in early talks for merger of Indonesia units.
Wireless carrier Axiata Group and conglomerate Sinar Mas Group are in early talks for a potential merger of their Indonesian telecommunications operations.
The owners of XL Axiata and Smartfren Telecom signed a non-binding memorandum of understanding on May 15. The plan is still in the early stages of evaluation, and both Axiata and Sinar Mas seek to remain controlling shareholders of the merged entity, Bloomberg reported.
Khazanah, EPF are weighing taking Malaysia Airports private. (FS)
Malaysia Airports is set to be privatized as its two biggest shareholders team up with buyout firm Global Infrastructure Partners and the Abu Dhabi Investment Authority to make a takeover offer for the airport operator, Bloomberg reported.
Malaysia’s sovereign wealth fund Khazanah Nasional, Employees Provident Fund, GIP and ADIA offered to pay MYR11 ($2.3) per share to acquire 67% of the company, according to a Bursa Malaysia filing on May 15. That represents a 15% premium to the company’s prevailing three-month volume-weighted average price — a measure of a stock’s valuation — and values Malaysia Airports at MYR18.4bn ($3.9bn).
China Life sets up $1.4bn equity investment fund to boost silver economy.
China Life Insurance has set up an RMB-denominated equity investment fund that will deploy CNY10bn ($1.4bn) in the country's silver economy. The country's elderly population is projected to reach 28% of the total by 2040, DealStreetAsia reported.
The company, one of China's biggest insurers with a market capitalisation of over $100.9bn, announced the fund launch on May 15 on its WeChat account and said it targets a first close at CNY5bn ($692m).
