RPC develops and manufactures a diverse range of products for a wide variety of customers, including many household names, and enjoys strong market positions in many of the end-markets it serves and the geographical areas in which it operates.
RPC shareholders will receive £7.8 ($10) for each share in cash, a 15.6% premium from the closing price on September 7 of £6.8 ($8.8), the last day before the talks were confirmed. The final offer represents a 7.6% premium from RPC’s latest closing price. RPC confirmed the merger talks in September after a Bloomberg report that it was exploring options including a sale.
RPC was advised by Deutsche Bank, Jefferies, Credit Suisse, Evercore, Rothschild, Slaughter & May and FTI Consulting. Apollo was advised by BNP, Barclays, Citigroup, HSBC, Paul Weiss Rifkind Wharton & Garrison, Sullivan & Cromwell and Maitland. Davis Polk advised Barclays and Citigroup.
DSV to seek for more deals after Panalpina offer.
Denmark’s DSV, a transport and logistics company, will seek additional billion-dollar deals regardless of the outcome of its $4bn acquisition of Panalpina, which was announced earlier this month.
“For sure, we will continue to do that,” CEO Jens Bjorn Andersen told reporters on Wednesday. “It is the best way we can spend the money we generate ourselves.”
Some analysts suggest DSV may have to up the ante to get Panalpina’s biggest shareholder — the Ernst Goehner Foundation, with a 46% stake — to cooperate.
UBS advised Panalpina.
FSI-backed Cedarci acquired Oasi from Nexi Financial Group for €151m. (FS)
FSI-backed Cedarci, a company active in outsourcing IT services for banks, acquired Oasi, a banking compliance firm, from Nexi Financial Group, an Italian bank owned by Advent, Bain Capital and Clessidra, for €151m ($171m). The closing of the deal is expected by next February. Cedacri will finance the operation using a pool loan organized by a consortium of 14 financial institutions, shareholders and non-shareholders. Alfredo Pallini, CEO of Oasi, will remain managing the company even after the acquisition.
Equita and Mazzoni Regoli advised Cedarci. Mediobanca, UBS and Dentons advised Nexi.
Young & Co.’s Brewery, a British pub chain operating nearly 220 pubs, acquired Redcombs Pubs, a company that owns and operates 15 pubs in prime locations, for £34m ($43m).
The pubs will complement the Young’s managed house estate both in and around London, build upon a growing presence in the South West and further enhance the Young’s brand. Each of the pubs has a premium offering and distinctive personality that differentiates it in its local market. As a result of the transaction, the Young’s managed estate has increased by 8% from 185 to 200. With 70 tenanted pubs in its Ram Pub Company, the total Young’s pub estate will increase to 270 pubs.
JP Morgan and MHP Communications advised Young & Co.’s Brewery.
EDF, a French electric utility company, largely owned by the French state, acquired a 49% stake in Conergies Group. The Conergies Group is active in the design, engineering, installation and maintenance of refrigeration and air conditioning systems. Financial terms were not disclosed.
Valerie Levkov, the EDF Director in charge of African, Middle Eastern and Eastern Mediterranean Countries stated: "Cooperation with Conergies Group has confirmed speeding up of development of EDF activities in Africa. The energy efficiency services combined with carbon-free generation constitute a significant element of response to growing energy demand in African countries and reduction in CO2 emissions. It is also a factor for competitive development of local businesses based on better energy budget control. We are proud to meet these new challenges with a trustworthy partner, who shares our partnership strategy."
Hogan Lovells advised EDF.
Innogy to sell its stake in Sofia wind project.
Germany’s Innogy, an energy company, is looking to sell a stake in its Sofia offshore wind project in Britain, once a subsidy is secured. Innogy plans to enter the 1,200 megawatt Sofia project into Britain’s next offshore wind subsidy auction in May, and once built in the mid to late 2020s, it could generate enough electricity to power around 1m homes.
“We would take it certainly though the contracts-for-difference bidding process and towards financial investment decision, then potentially bring in partners,” Paul Cowling, UK managing director for offshore wind told journalists.
Masterwork acquired a stake in Heidelberger Druckmaschinen.
China’s Masterwork, a high technology manufacturer of print finishing equipment, acquired an 8.5% stake in Heidelberger Druckmaschinen, a German precision mechanical engineering company. The German company said in a statement that its supervisory board still had to approve the deal.
Shares of Heidelberger Druck went up by 11.2%.
ArcelorMittal's Essar bid delays SAIL joint venture.
ArcelorMittal’s prolonged bid to buy debt-ridden Essar Steel, a fully integrated flat carbon steel manufacturer, is delaying the world’s biggest steelmaker’s joint venture with state-owned Steel Authority of India. India’s biggest state-owned steel company SAIL and billionaire Lakshmi Mittal-controlled ArcelorMittal signed a deal in May 2015 to set up a steel plant to produce automotive grade steel, but no timetable has ever been set out.
“Both parties are committed. We want to sign the definitive agreement soon,” Anil Kumar Chaudhary, SAIL’s chairman told Reuters, on Wednesday. “ArcelorMittal people are slightly tied up in the Essar acquisition currently.”
