Pfizer, an American multinational pharmaceutical corporation headquartered in New York City, closed its $11.4bn acquisition of Array BioPharma, a US-based, clinical stage, publicly traded pharmaceutical company.
“Today’s announcement reinforces our commitment to deploy our capital to bring breakthroughs that change patients’ lives while creating shareholder value,” said Albert Bourla, chief executive officer of Pfizer. “The proposed acquisition of Array strengthens our innovative biopharmaceutical business, is expected to enhance its long-term growth trajectory, and sets the stage to create a potentially industry-leading franchise for colorectal cancer alongside Pfizer’s existing expertise in breast and prostate cancers.”
Centerview Partners, Skadden Arps Slate Meagher & Flom and Joele Frank advised Array BioPharma. Guggenheim Securities, Morgan Stanley and Wachtell Lipton Rosen & Katz advised Pfizer.
Private equity firm EQT Partners completed its sale of Press Ganey, a leading provider of safety, quality, patient experience and workforce engagement solutions for healthcare organizations in the US, to a consortium of funds managed by affiliates of Ares Management Corporation, Leonard Green & Partners, and other co-investors. Financial terms were not disclosed.
Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VII, said: “Press Ganey plays an integral role in the US healthcare system and we have been proud to support its mission of delivering safe, high quality care for patients, and supporting the caregivers that serve them. It has been a pleasure to partner with the management team, which has done a fantastic job in continuing to advance thought leadership and product innovation across the industry.”
Barclays, Goldman Sachs and Simpson Thacher & Bartlett advised Press Ganey and EQT. Citigroup, Latham & Watkins and Sullivan & Cromwell advised the buyers.
Arsenal Capital Partners, a leading private equity firm that invests in middle-market specialty industrials and healthcare companies, acquired of Seal For Life Industries from Berry Global Group, for $328m.
Seal For Life will serve as Arsenal's platform in the coating solutions sector focusing on the global infrastructure and industrial markets. The platform's current and future technology portfolio provides maintenance and repair solutions that prolong the life and durability of critical applications, such as water and oil pipelines, tanks and terminals, power generation and petrochemical infrastructure.
“The decision to sell SFL was made as part of our ongoing portfolio analysis and decision to provide resources to further focus our efforts to deliver growth in targeted markets and advantaged products as we remain firmly committed to this objective." Tom Salmon, Berry’s Chairman, and Chief Executive Officer.
JP Morgan Securities advised Berry. William Blair & Company and Jones Day advised Arsenal.
Vacasa, North America's largest vacation rental management platform, and Wyndham Destinations the global leader in vacation ownership and exchange, have entered into a definitive agreement under which Vacasa will purchase Wyndham Vacation Rentals for approximately $162m.
The purchase, which is complementary to Vacasa’s current inventory, will boost the company’s portfolio to more than 23,000 homes, spanning North America, Central and South America, Europe, and Africa.
“After conducting a rigorous strategic review process that generated strong interest from multiple parties, we are confident that Vacasa is the ideal buyer,” said Michael D. Brown, president and CEO of Wyndham Destinations. “In the past decade, we grew our vacation rental business to prominent leadership in North America. We determined that selling Wyndham Vacation Rentals is the best option to return value to shareholders and enable the long-term growth of our company through vacation ownership and exchange. We remain so confident in the future of this business and the benefits of a long-term relationship with Vacasa, that we will have an equity interest in Vacasa after the sale.”
PJT Partners and Weil and Gotshal & Manges advised Wyndham Destinations. Wilson Sonsini Goodrich & Rosati advised Vacasa.
Ford Motor Company acquires Quantum Signal, a company focused on mobile robotics, modeling, and simulation. Financial terms were not disclosed.
Ford will use Quantum Signal's simulation and algorithm development know-how for its autonomous vehicle ambitions.
The wide range of the group’s work portfolio means it will be able to support Ford in numerous areas as the company develops self-driving vehicles and transportation as a service business, including software development and hardware prototyping.
Elsevier, a global information analytics business agreed to acquire Parity Computing, a California-based business that employs artificial intelligence to provide profiling and recommendations for specialist content. Transaction financial terms were not disclosed.
"Parity's team brings deep academic and research experience in addition to technical expertise," said Dr. Ramamohan Paturi, Founder and Chairman of Parity.
"By working more closely with Parity, we can deliver even better insights to help researchers, universities, governments and funding agencies make better decisions by enabling them to find emerging trends, increase the visibility of their research, build collaborative networks, bolster funding applications and articulate the value of research," said Olivier Dumon, Managing Director, Research Products at Elsevier.
Compassraised $370m at $6.4bn valuation. (FS)
Compass announced a $370m Series G round that brings the company to a total of $1.5bn raised. The round brought Compass to a valuation of $6.4bn. Primary investors in the round include Canada Pension Plan Investment Board, Dragoneer Investment Group, and SoftBank Vision Fund.
Zebra Technologies Board approved a $1bn share repurchase authorization.
Zebra Technologies Corporation, an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, announced the company’s Board of Directors had authorized the repurchase of up to $1bn of shares of Zebra Technologies Corporation common stock. This authorization replaces the previous purchase authorization, which was announced in November 2011.
“We’ve made great progress on debt paydown since the Enterprise acquisition in 2014, and our debt leverage ratio is now below the midpoint of our targeted range of 1.5x to 2.5x. Our strong free cash flow profile provides us the flexibility to return capital to shareholders while continuing to pursue attractive organic and inorganic investment opportunities,” stated Anders Gustafsson, Zebra’s Chief Executive Officer.
Paducah Bank renewed its partnership with CSI.
Paducah, a Kentucky-based bank, renewed its long-standing partnership with Computer Services. The bank will continue to partner with CSI, a leading provider of financial technology solutions, as its core banking solution provider for another seven years.
“We are pleased to announce the extension of our working relationship with CSI,” said Mardie Herndon, Paducah Bank’s president and COO. “We have great respect for the leadership of CSI, the partners that service this commitment and the enhanced degree of strategic support provided to our organization. The continuation of this contract benefits our clients and ultimately the communities we serve.”
MJH Associates signed a partnership with Hematology-Oncology Associates of Central New York.
MJH Associates, a full-service multimedia medical media company, announced a strategic alliance partnership between Hematology-Oncology Associates of Central New York, a multispecialty, multilocation, highly integrated and comprehensive oncology practice, and three of its premier brands.
“We are proud to partner with HOA,” said Michael J. Hennessy Jr., president of MJH Associates, Inc. “HOA is the largest private practice oncology group in Central New York and makes an amazing impact in the communities it serves.”
Investment firm Cat Rock lauded Amsterdam-based Takeaway's decision to buy Just Eat in an $11bn deal to create one of the world's largest online food delivery firms. Activist investor Cat Rock, which has holdings in both companies, had been pushing Just Eat to merge with a rival such as Takeaway, which has been driving sector consolidation.
Brunswick Group, UBS, Oakley Advisory and Goldman Sachs are advising Just Eat. Lazard and Bank Of America Merrill Lynch are advising Takeaway.
Two major shareholders in Metro, a German multinational wholesale/cash and carry group, said they planned to join forces by pooling their interests and voting rights as they seek to help fend off a takeover bid for the German retailer. The investors Meridian Foundation and Beisheim Group, which hold a combined 20.56% of Metro's ordinary shares, both rejected a $6.6bn takeover offer for Metro by EP Global Commerce as "inappropriate."
Metro was advised by Rothschild & Co. EPGC was advised by BNP Paribas, Credit Suisse, goetzpartners, Societe Generale, Kirkland & Ellis. BNP Paribas, Credit Suisse and Societe Generale provided debt financing.
BBA Aviation, a provider of global aviation support and aftermarket services, entered into an agreement for the sale of Ontic, a leading provider of high-quality, OEM-licensed parts for legacy aerospace platforms, to CVC Capital Partners, for an enterprise value of $1.4bn.
"Ontic is a growing, highly resilient business and a leading player in what we believe to be a very attractive market. We see multiple opportunities to develop the business further and look forward to working closely with Ontic's excellent management team to take the company to the next level."James Mahoney, Senior Managing Director, CVC Capital Partners.
JP Morgan Cazenove, Tulchan Communications, Lazard and Slaughter & May advised BBA Aviation. Jones Day advised BBA, and Freshfields advised CVC.
Britain's competition watchdog said it would not refer Charter Court Financial Services merger deal with OneSavings Bank to an in-depth investigation.
Charter Court Financial and OneSavings are set to create one of Britain's biggest specialist lenders in a £1.7bn ($2.1bn) merger that will bolster their defenses in the face of uncertainty brought on by Brexit.
Citigate Dewe Rogerson, Credit Suisse, RBC Capital Markets and Linklaters are advising Charter Court. Barclays, Rothschild & Co and Brunswick Group are advising OneSavings Bank.
GPF Capital, a private equity firm, acquired Quimi Romar and Envasados Xiomara manufacturers and distributors of liquid products and aerosols for personal and household car.
Envasados Xiomara was owned by Pablo Rodríguez, Pablo Gaya and Francisco Collado and Quimi Romar owned by Realza Capital. Financial terms were not disclosed. Combine companies may create a national leader in the aerosol and liquid sector.
Uría Menéndez and Ernst & Young advised GPF Capital. Financial Partners, Deloitte, ERM and Acebo & Rubio Abogados advised Realza Capital.
Tokai Carbon, a market leader in the production and sale of a broad range of high-quality carbon and graphite products, closed its acquisition of COBEX, a global leader in the manufacture of carbon and graphite products from Triton. Financial terms were not disclosed.
“We thank Triton for being a stable investor and good partner. With Triton’s support and thanks to its sector expertise and know-how we have successfully gone to a stand-alone company and were able to foster COBEX’s position as a global market leader at the same time,” said Frank Goede and Andrzej Hotlos, Managing Directors of COBEX. “We welcome Tokai Carbon as a new owner and look forward to a successful future.”
Allen & Overy and Nomura advised Tokai. Evercore, Latham & Watkins and Wardynski & Partners advised Triton.
EssilorLuxottica, a French-based international ophthalmic optics company, is in talks to buy Grand Vision, a global leader in optical retailing, from HAL Holding. The purchase price per share indicatively discussed among the parties to date is €28 ($31) per share. The terms of the potential transaction, including with respect to price, will be subject to continued evaluation and discussion during the coming weeks and further review by the parties’ boards of directors.
Thomson Reuters, a Canadian multinational mass media and information firm, completed its acquisition of HighQ, a leading collaboration platform for the legal and regulatory market, from investment funds managed by Morgan Stanley Expansion Capital. Financial terms were not disclosed.
“We were attracted to HighQ Solutions given its capital efficient founder-bootstrapped heritage and strong product addressing a large and compelling market opportunity. Over the course of our investment, HighQ generated considerable organic growth driven by geographic and vertical expansion, as well as through the acquisition of a competing business. We were pleased to be a partner to HighQ and thoroughly enjoyed working closely with management and the team. We are excited for HighQ to be partnering with such a high quality strategic buyer,” said Robert Bassman, Managing Director, Morgan Stanley.
Lefebvre Sarrut, which provides legal, tax and accounting services, acquired Barchen, the French leader in AMF certification. Financial terms were not disclosed.
"Our two structures have close cultures, focused on paying particular attention to human values, quality and the relationship with our clients and our trainers. All these elements ensure that we will do beautiful things together, " said Natacha de Saint-Vincent, president of Francis Lefebvre Formation and Eric Normand, general manager of Bärchen.
Sphera, a global provider of Integrated Risk Management software and information services, agreed to acquire thinkstep, a Germany-based software and consulting services company, from Gimv and Next47. Financial terms were not disclosed.
"thinkstep's cloud-based and on-premise software, data and expertise in the corporate sustainability and product stewardship markets advance our mission of creating a safer, more sustainable and productive world," said Paul Marushka, Sphera's president and CEO. "thinkstep's presence in EMEA and APAC extends our geographic footprint in serving our global customer base."
CAPZA, a leading private investment platform, acquired a majority stake in ITAL Express, France’s leading suppliers of spare parts for trucks, trailers, LCVs and agricultural tractors. Financial terms were not disclosed.
“ITAL Express has ambitious plans to expand, primarily by making acquisitions in France as well as internationally. We are enthusiastic about the idea of being able to support Patrice Claverie and his team through this new phase of development”, says Benoit Choppin, Managing Partner at CAPZA.
Steinway & Sons, an American piano company, acquired Louis Renner Company, which manufactures complete grand and upright piano actions in addition to special piano parts, piano hammers, accessories, and piano tools. Financial terms were not disclosed.
“When we heard that Renner was for sale, we took an immediate interest,” said Ron Losby, President & CEO, Steinway & Sons. “We wanted to ensure that Renner remains in Germany, where they have been for almost 140 years, and we wanted to ensure that they retain the world-class quality that they have achieved and maintained during that time. They produce crucial components of our Steinways, which is why this continuity is vital to our company. The mission and culture of both companies is so similar that I expect this to be a very smooth transition and a very natural fit.”
Arkema, specialty chemicals and advanced materials company, acquires Lambson, a company specializing in photoinitiators for curing, a technology meeting the demands of cutting-edge markets such as electronics, 3D printing, digital ink, composites and high-performance coatings. Financial terms were not disclosed.
The transaction will complement the offering of Sartomer, Arkema's subsidiary, a global leader in photocure resins, while helping speed up its development in this fast-growingg market.
Buyout firm Waterland Private Equity has acquired a majority stake in elder care provider Silver Stream Health Care Group. Financial terms were not disclosed.
"Residential care is absolutely vital to society and our investment will go some way to supporting the evolving needs of residents and their families across Ireland." Andy Scaife, head of Waterland Private Equity for UK and Ireland.
Private equity firm Clairvest Group, acquired majority stake in FSB Technology, a sports, and internet gaming technology supplier, for £23m ($28m). Investment in FSB extends Clairvest’s 19-year track record in the gaming industry to the online gaming supplier market with a focus on sports betting.
“We are impressed with FSB’s leadership, technology platform and tremendous growth track record to date. Having spent over two years evaluating the sports betting space, we view FSB as a strong leader with a promising opportunity to expand into new regulated sports betting markets. We are excited to back the Company’s co-founders and partner with proven and strongly aligned gaming entrepreneurs,”Michael Wagman, President of Clairvest.
Triton-backed Royal Reesink acquired Meerman Group, the exclusive distributor of Kubota earthmoving machines. Financial terms were not disclosed.
Lourens Meerman, as a second generation family member, has guided the company's growth into what it is today: "Of course we, Koen, Ilse and I, thought long and hard about this step, but it was ultimately Royal Reesink’s exact same mentality and entrepreneurial spirit which convinced us to work together for the future".
Transdev, a French-based international private public transport operator, acquired A Bjorks, a Swedish public transportation operator. Financial terms were not disclosed.
“This acquisition clearly positions Transdev among the top three players in the Swedish public transportation field. We will continue accelerating on our recent stream of commercial successes in Stockholm and Göteborg. We are eager to start meeting our new clients and partners and welcoming all new employees to Transdev. Our technology focus will see in particular a growing share of electric buses in our networks, further contributing to the reduction of our carbon footprint,” underlines Christian Schreyer, CEO Northern and Central Europe of Transdev Group.
France's leading crane and aerial lift rental group Mediaco acquired Altéad Lifting, a crane company. Financial terms were not disclosed.
Mediaco said: “This acquisition enables us to increase our equipment base and national presence, while demonstrating the determination of the family group’s strategy for growth and further development."
Private equity firm Gimv sold its minority stake in Legallais, an ironmongery, general construction goods and finishing work products provider. Financial terms were not disclosed.
Philippe Casenave-Péré, CEO of Legallais, says: “We are pleased to have had Gimv’s partnership over the past three years. Thanks to their constant support, industrial expertise and know-how in supporting family-owned SMEs, we have been able to pursue our growth strategies, strengthen our market leadership and increase our profitability."
Indorama Ventures, world's leading producers in the intermediate petrochemicals industry and a global manufacturer of wool yarns, through its indirect subsidiary Indorama Netherlands, acquired a 100% stake of Sinterama, provider of textile products. The acquisition of Sinterama comprises of 5 production sites in 4 countries: Italy, Brazil, China and Bulgaria, with a combined capacity of appx. 30k tonnes/annum. Financial terms were not disclosed.
Aloke Lohia, Group CEO of Indorama Ventures said: “Sinterama brings along a very experienced team of highly respected professionals who together with IVL management make a formidable combination of managerial excellence. Bringing Sinterama’s experience and network of strategically located facilities into IVL will enable us to provide best-in-class offerings for customers. We are now better positioned than ever to meet the needs and exceed the expectations of customers on a truly global scale.”
Blackstone looking to double its investment in Refinitiv. (FS)
Blackstone Group is poised to double the value of its investment in Refinitiv, a global provider of financial markets data and infrastructure, in just ten months. Under proposed terms of a sale of the data-and-trading platforms firm to the London Stock Exchange Group Plc for $27bn, the owners would have to stay at least partially invested in the combined company for about five years.
Carlyle is hiring banks for sale of PA Consulting Group stake. (FS)
Buyout firm Carlyle is close to hiring banks to oversee the sale of its 51% stake in the consulting giant, Sky News reported. Timing of a formal process has not yet been set.
Carlyle owns 51% of the firm, with the remainder of the shares held by employees.
Elliott appoints advisors for Credito Fondiario disposal. (FS)
As reported by Sole 24, Elliot Advisors is considering an exit from Credito Fodiario, an Italian lender. Eliot purchased 82% of the bank in 2016.
Goldman Sachs and Deutsche Bank are leading the process, while Bain Capital and Apollo have been reported to be front runners for the asset.
Sulaiman Al-Habib Medical in IPO talks.
Saudi Arabia's Sulaiman Al Habib Medical Group, one of the biggest hospital operators in the Middle East, is talking to banks about a potential listing in Riyadh that could value the company at $2.5bn. The group, which operates hospitals and clinics in Saudi Arabia, the United Arab Emirates and Bahrain, has been in preliminary talks with foreign and local banks for listing and potential advisory roles.
Netlog looking for acquisitions in Europe.
Netlog, Turkey’s biggest transport and distribution company, plans to buy seven European firms during the next two years as part of an expansion program to diversify its sources of income.
“We’re interested in buying firms in England, Belgium, Germany, Poland and Netherlands,” President Gokalp Cak said. Netlog anticipates closing a deal to buy one of Poland’s largest logistic businesses in the next two months, while also eyeing a Turkish target, Cak said.
Abraaj fined $315m by regulators. (FS)
Dubai’s financial regulator fined Abraaj Group, the world’s biggest private equity insolvency to date, a record $315m for deceiving investors and misappropriating their funds. The authority’s chief executive officer, Bryan Stirewalt, said the firm’s management "rode roughshod over their compliance function and the misconduct and deceit were pervasive and persistent.”
Neil Woodford’s fund to be locked until December. (FS)
Bloomberg reported that Neil Woodford’s flagship fund might remain locked until early December, as long-time allies jump ship and pressure on the star stock picker intensifies.
“I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you, and I am extremely sorry for putting you in this situation,” Woodford wrote in a statement for investors.
EV Cargo completes £150m debt financing with Investec. (FS)
EV Cargo, a privately-owned logistics business in the UK, completed a £150m ($184m) debt financing with Investec. The financing involved all operating businesses within the EV Cargo group – Adjuno, Allport Cargo Services, CM Downton, Jigsaw, NFT and Palletforce – and includes cash flow loans, fixed asset loans and receivables based working capital revolvers.
Paul Rablen of Investec said: “We are delighted to build further on our long-standing relationship with EmergeVest. We’ve been a supporter of their strategy since 2014, and it is great to see the EV Cargo businesses integrate and scale up as a supply chain and logistics powerhouse in the UK, Europe and Asia.”
EV Cargo was advised by Ashurst. Investec was advised by Irwin Mitchell.
SquareBook secured FCA approval.
SquareBook, a UK real estate consultancy, secured FCA approval, which enables the company to provide new services in the Initial Public Offering process to benefit firms looking to go public.
Richard Balarkas, Co-Founder of SquareBook, says: “In the last 30 years every aspect of the equities investment life-cycle has been dramatically improved by pursuing policies that promote competition and reduce the barriers to innovation and new services. Yet there has been little or no industry focus on the equity IPO process, which is in a state of atrophy. Instead of facilitating capital raising the IPO process itself limits the efficient allocation of capital and ultimately constrains the size and liquidity of the secondary markets.”
ACEA acquired 25MWp photovoltaic plants for €75m.
ACEA finalised transactions for the acquisition of photovoltaic plants with an overall installed capacity of around 25 MWp, eligible for Conto Energia incentives, for €75m ($83m).
The most significant portfolio concerns the purchase of a 65% equity interest in seven special purpose vehicles that own 18 photovoltaic facilities, with an overall installed capacity of around 20MWp, belonging to the Belenergia Group.
monday raised $150m in Series D financing. (FS)
monday, the work management platform, raised a $150m Series D round, bringing total funding to $234m. Silicon Valley-based venture capital firm, Sapphire Ventures, led the round with participation from Hamilton Lane, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners. As monday continues along its rapid growth trajectory, it is democratizing effective management practices in creating the first fully customizable team management platform.
AgroSavfe raises $39m in Series C financing.
AgroSavfe, a company developing a new generation of protein-based biocontrols to protect food from farm to fork, today announces the closing of a Series C financing round.
AgroSavfe raised $39m in a round led by Gimv with participation from Sofinnova Partners, PMV, Agri Investment Fund, K&E, Biovest, Madeli Participaties, VIB, and Qbic. With an investment of $11m, Ackermans & van Haaren is also joining AgroSavfe as a new shareholder.
The new funding will primarily be used to enhance the development and commercially scale the production of AgroSavfe’s biofungicides and bio-insecticides.
Silver Lake Resources, a mineral exploration company, and EganStreet Resources, company exploring and developing precious and base metals, have reached an agreement pursuant to which Silver Lake will acquire all of the issued and outstanding ordinary shares of EganStreet. Each EganStreet shareholder will receive 0.27 Silver Lake shares for every EganStreet share held. The deal value is $40m.
"The acquisition of EganStreet and its Rothsay Gold Project is consistent with Silver Lake’s strategy of creating new opportunities to compete for capit.al and maximising the value of the existing asset base. Silver Lake’s nearby infrastructure at Deflector can unlock additional value at Rothsay and this is reflected in the share price premium offered to EganStreet shareholders.” Luke Tonkin, Managing Director of Silver Lake.
Taylor Collison and GTP Legal advised GTP Legal. RBC Capital Markets, Sternship Advisers and HopgoodGanim Lawyers advised Silver Lake.
Amazon in talks to buy Uber Eats India.
Amazon India is in talks for a potential acquisition of the local unit of food order and delivery platform Uber Eats. There could be many possibilities, including a strategic alliance if not a full buyout.
Amazon India could enter the food delivery business, particularly through its Prime membership plan.
Comcast-led consortium looking to buy Zee Entertainment. (FS)
A consortium that includes US cable giant Comcast Corp, James Murdoch’s Lupa Systems and private equity firm Blackstone Group has reportedly made an offer for a stake in Zee Entertainment, India’s largest private broadcaster. The group plans to snap up a 51% stake, which has a market value of about $2.8bn. A deal could be announced as soon as Wednesday and there could be more investors.
Voda Idea to close m-pesa biz.
LiveMint reported that Vodafone Idea, an Indian telecom operator, decided to close m-pesa vertical following the closure of Aditya Birla Idea Payments Bank, in which it was being merged with.
"The merger of Vodafone m-pesa with ABIPBL has thus been called off and business prepaid instruments and business correspondence are in the process of closure," Vodafone Idea Chief Executive Officer Balesh Sharma said.
Khazanah and Temasek to sell part of joint Singapore property for about $1.2bn. (RE)
A joint venture between Malaysia's fund Khazanah and Singapore's Temasek is selling the office and retail units of its DUO property development in Singapore.
The joint venture named M+S will sell all the shares of its wholly-owned subsidiary, Ophir-Rochor Commercial, worth $1.2bn to Allianz Real Estate and private equity firm Gaw Capital Partners.
The sale includes DUO Tower, an office block with 20 floors worth of prime Grade-A office space, and DUO Galleria.
Alibaba-backed lender MYbank to raise $871m.
Reuters reported that Alibaba-backed lender MYbank is looking to raise $871m in its maiden fundraising. The bank plans to use the proceeds to boost its capital base and support lending to small businesses. Several existing shareholders, including Ant and Fosun, are looking to participate in the latest fundraising.
Kunlun to revisit Grindr IPO.
Chinese gaming company Beijing Kunlun Tech said it would revive plans for an initial public offering of popular gay dating app Grindr after a US national security panel dropped its opposition to the plan.
Kunlun said in May it had agreed to a request by the Committee on Foreign Investment in the United States to sell Grindr, setting a June 2020 deadline to do so. Kunlun's efforts to sell Grindr outright were continuing even as the IPO preparations were relaunched.
Petronas and JXTG looking to buy stake in Bina oil refinery.
Reuters reported that Malaysia’s Petroliam Nasional Bhd and a consortium led by Japan’s JXTG Holdings are among the companies interested in buying a stake in India’s Bina oil refinery. The Bina plant in central India, capable of processing 156k barrels per day of crude oil, is operated by Bharat Oman Refineries, a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp.
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