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Top Highlights
PepsiCo, an American multinational food, snack, and beverage corporation, agreed to acquire poppi, a prebiotic soda brand, for $1.95bn, according to press releases.
Poppi is advised by Goldman Sachs and Cooley. PepsiCo is advised by JP Morgan, Centerview Partners, Cravath Swaine & Moore and Davis Polk & Wardwell, according to press releases.
Taiho Pharmaceutical, a Japanese pharmaceutical company, agreed to acquire Araris Biotech, a Swiss biotechnology company developing next-generation antibody drug conjugates, for up to $1.14bn, according to press releases.
Araris Biotech is advised by Centerview Partners, BGPartner and Cooley. Taiho Pharmaceutical is advised by MTS Health Partners, Homburger and Wilson Sonsini Goodrich & Rosati, according to press releases.
Ramelius Resources, a gold producer, agreed to acquire the remaining 80% stake in Spartan Resources, a gold exploration and development company, for AUD1.9bn ($1.2bn), according to press releases.
Ramelius Resources is advised by Euroz Hartleys, Allion Partners and GRA Partners. Spartan Resources is advised by Sternship Advisers, Herbert Smith Freehills and Read Corporate (led by Nicholas Read), according to press releases.
Deal Round up
AMERICAS
KKR veteran joins Blue Owl to lead global family office expansion. ( Press Release)
EMEA
KKR-Warburg Pincus group submits non-binding bid for Gerresheimer. (Reuters)
BayWa deal with EIP for renewable energy unit falls through. ( Press Release)
Stada plans IPO launch soon. ( Reuters)
Adara Ventures secures first close of €100m AV4 Fund, focusing on cybersecurity, AI & digital infrastructure. ( Press Release)
APAC
Converge ICT explores fiber business carve-out and 40% stake sale. ( Bloomberg)
HSBC and UBS to expand wealth management operations in India. ( FT)
LCD panel maker CVTE considers Hong Kong listing. ( Bloomberg)
Maynilad files for what may be Philippines’ largest IPO. ( Bloomberg)
Top Philippine fintech GCash seeks 10%-15% public float for IPO. ( Bloomberg)
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AMERICAS
Brighton Park, an investment firm focused on entrepreneur-led, growth-stage companies in software and healthcare, completed the investment in HITRUST, a provider of information security assurance for risk management and compliance, according to press releases. Financial terms were not disclosed.
HITRUST was advised by Harris Williams & Co, Katten Muchin Rosenman and Kesselring Communications (led by Lelsie Kesselring). Brighton Park was advised by Paul Weiss Rifkind Wharton & Garrison and FGS Global , according to press releases.
Metro City Bank, a bank that offers personal and commercial banking services, agreed to merge with First IC Bank, a provider of retail and commercial banking products, for $112m, according to press releases.
First IC Bank is advised by Stephens and Alston & Bird. Metro City Bank is advised by Hunton Andrews Kurth and Hillworth Bank Partners, according to press releases.
Private equity firms Aldaron Partners and True Wind Capital completed the acquisition of DCM Services, a provider of estate and specialty account recovery solutions, according to press releases. Financial terms were not disclosed.
DCM Services was advised by Houlihan Lokey, Greenberg Traurig and Rubenstein Associates. Aldaron Partners and True Wind Capital were advised by Orrick Herrington & Sutcliffe, according to press releases.
Equiniti, a British-based outsourcing business focused on financial and administration services, agreed to acquire Notified, a global technology and services partner to corporate storytellers, from West Technology Group, a technology-enabled services provider, for $535m, according to press releases.
West Technology Group is advised by RBC Capital Markets and Brownstein Hyatt Farber Schreck, according to press releases.
Tether, a digital asset company, agreed to acquire 50.1% stake in Adecoagro, a sustainable production company, for $620m, according to press releases.
WHP Global, a brand management firm, offered to acquire Guess?, a clothing brand, for $663m, according to press releases.
Bureau Veritas, a testing, inspection, and certification services company, completed the acquisition of GeoAssay, a mineral testing company, according to press releases. Financial terms were not disclosed.
KKR veteran joins Blue Owl to lead global family office expansion. ( Press Release)
A former executive from KKR & Co global wealth unit has joined Blue Owl Capital to enhance its services for ultra-high-net-worth clients.
Blake Shorthouse will serve as global head of family capital at the New York-based firm. Based in London, he will report to James Clarke, global head of Blue Owl’s institutional business.
EMEA
Foresight, an investment manager in real assets and providing capital for growth with extensive experience of investing in energy transition, renewables and infrastructure projects, offered to acquire Harmony Energy Income Trust, a UK-based investment trust, investing in a diversified portfolio of utility-scale energy storage and renewable energy generation assets in Great Britain, for £191m ($247m), according to press releases.
Baltic Cable, an electric utility company, and Equitix, an international investor, developer and fund manager in infrastructurem, agreed to acquire Greenlink, a 504 megawatt subsea electricity interconnector linking Great Britain and Ireland, from Partners Group, a private equity company, for €1bn ($1.08bn), according to press releases.
Partners Group is advised by UBS, Arthur Cox and Clifford Chance, according to press releases.
Latour Capital, a France-based private equity fund, agreed to acquire Lynxeo, a powerhouse in specialty industrial cables, from Nexans, a global company in the cable and optical fibre industry, for €525m, according to press releases.
Nexans is advised by JP Morgan, Bredin Prat and Havas (led by Mael Evin) , according to press releases.
AstraZeneca, a global, science-led biopharmaceutical business, agreed to acquire EsoBiotec, a biotechnology company pioneering in vivo cell therapies that has demonstrated promising early clinical activity, for $1bn, according to press releases.
Investcorp, a private equity firm, agreed to acquire a majority stake in Miebach, a global provider of supply chain and logistics consultancy services, according to press releases. Financial terms were not disclosed.
Cleary Gottlieb, an American multinational law firm, agreed to acquire Springbok AI, a generative AI product development company focusing on technology supporting legal service delivery, according to press releases. Financial terms were not disclosed.
EPSA Groupe, an operational and environmental performance management company, completed the acqusition of GIS International, a logistics services company, according to press releases. Financial terms were not disclosed.
ASSA ABLOY, a firm that develops, designs, and manufactures a complete range of door opening solutions, completed the acquisition of Gesellschaft Fur Sicherheitstechnik, a provider of emergency exit security solutions for commercial, industrial and public buildings, according to press releases. Financial terms were not disclosed.
KKR-Warburg Pincus group submits non-binding bid for Gerresheimer. ( Reuters)
A consortium including KKR and Warburg Pincus has submitted a non-binding offer for Gerresheimer, a manufacturer of injection pens for weight loss drugs like Wegovy.
The bid is close to €90 ($98) per share, valuing the company at nearly €3.1bn ($3.37bn), compared to its €2.65bn ($2.88bn) market capitalization as of Friday's close.
BayWa deal with EIP for renewable energy unit falls through. ( Press Release)
German agricultural trading group BayWa will retain majority ownership of its renewable energy unit, after an initial agreement with Energy Infrastructure Partners collapsed.
The Munich-based company is now in discussions with its core banks, its subsidiary and major shareholders to secure capital and guarantees for BayWa until the end of its restructuring phase.
Stada plans IPO launch soon. ( Reuters)
German pharmaceutical company Stada is preparing to launch its initial public offering soon, testing Europe's equity markets.
Majority-owned by private equity firms Bain Capital and Cinven, the drug manufacturer aims to issue an intention to float on the Frankfurt stock exchange this week if market conditions remain stable.
Adara Ventures secures first close of €100m AV4 Fund, focusing on cybersecurity, AI & digital infrastructure. ( Press Release)
Adara Ventures, a European venture capital firm focused on early-stage deep tech investments, announced the first close of its fourth flagship fund, AV4, targeting €100m ($108m) in capital commitments.
The fund aims to generate strong returns across key sectors, including cybersecurity, applied AI, digital infrastructure, hardware components, digital health and space.
APAC
Hanwha, a large business conglomerate in South Korea, agreed to acquire a 9.9% stake in Austal, an Australian-based global ship building company, for AUD1bn ($633m), according to press releases.
Warburg Pincus, a private equity firm, agreed to acquire a 6.6% stake in New Frontier Health, the operator of United Family Healthcare, from Fosun, a Chinese drugmaker, for $124m, according to press releases.
Converge ICT explores fiber business carve-out and 40% stake sale. ( Bloomberg)
Philippine broadband operator Converge ICT Solutions is considering separating its fiber operations and selling a 40% stake in the business.
The company is working with an adviser and the sale process could begin in March. The transaction may value the fiber business at up to $1bn.
HSBC and UBS to expand wealth management operations in India. ( FT)
HSBC and UBS are strengthening their wealth management divisions in India to compete with local firms.
UBS is exploring the acquisition of shares in 360 ONE, one of India’s largest wealth management companies.
LCD panel maker CVTE considers Hong Kong listing. ( Bloomberg)
Guangzhou Shiyuan Electronic Technology, a manufacturer of electronic components, is exploring a secondary listing in Hong Kong.
CVTE has invited banks to pitch for roles in the potential share sale, adding to a wave of similar offerings in the city.
Maynilad files for what may be Philippines’ largest IPO. ( Bloomberg)
Philippine utility firm Maynilad Water Services plans to list on Manila’s stock exchange in July, aiming for what could be the country’s biggest-ever initial public offering.
The company has filed its IPO registration with the Securities and Exchange Commission, proposing to sell up to 2.46bn shares at a maximum price of PHP20 ($0.36) per share.
Top Philippine fintech GCash seeks 10%-15% public float for IPO. ( Bloomberg)
The company behind the Philippines’ leading mobile wallet, GCash, is aiming for a reduced minimum public float of 10%-15% for its planned initial public offering.
Globe Telecom President and CEO Ernest Cu, who chairs Globe unit Mynt, GCash’s parent company, stated that the standard 20% requirement may be too high given the scale of the IPO.
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