Read on...
Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
AMERICAS
Mubadala, Abu Dhabi's sovereign wealth fund, agreed to acquire CI Financial, a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia, for CAD12.1bn ($8.65bn).
CI Financial is advised by INFOR Financial, RBC Capital Markets, Skadden Arps Slate Meagher & Flom (led by June Dipchand), Stikeman Elliott, Wildeboer Dellelce and StreetCred PR (led by Jimmy Moock). Mubadala is advised by BMO Capital Markets, Jefferies & Company, Blake Cassels & Graydon, Latham & Watkins and FGS Longview (led by Boyd Erman).
Quikrete, the largest manufacturer of packaged concrete in the United States, agreed to acquire Summit Materials, a producer of aggregates and cement, for $11.5bn.
Summit Materials is advised by Evercore, Morgan Stanley, Davis Polk & Wardwell (led by James P. Dougherty and Evan Rosen) and FGS Global (led by Jim Barron and Benjamin Spicehandler). Quikrete is advised by Wells Fargo Securities, Covington & Burling and Troutman Pepper. Debt financing is provided by Wells Fargo Securities.
ONEOK, an American corporation focused on the natural gas industry, agreed to acquire the remaining 57% stake in EnLink Midstream, an independent midstream energy services company, for $4.3bn.
ONEOK is advised by Barclays, Citigroup, Goldman Sachs and Kirkland & Ellis. EnLink Midstream is advised by Evercore, Baker Botts and Richards Layton and Finger.
Bending Spoons, an Italian technology company, agreed to acquire Brightcove, a software and streaming technology company, for $233m.
Brightcove is advised by Lazard, Goodwin Procter (led by Joe Theis) and ICR (led by Brian Denyeau). Bending Spoons is advised by JP Morgan, Wells Fargo Securities, Latham & Watkins (led by Bradley Faris and Jason Morelli) and Ernst & Young.
Arlington Capital Partners, a Washington, DC–based private equity firm, completed the acquisition of TEAM Technologies, a growth-oriented provider of specialized manufacturing and strategic supply chain solutions to blue-chip healthcare customers, from Clearlake Capital Group, a private equity firm. Financial terms were not disclosed.
TEAM Technologies and Clearlake were advised by Robert W Baird, Kirkland & Ellis, Massumi + Consoli and Lambert & Co (led by Jennifer Hurson). Arlington was advised by Harris Williams & Co, Goodwin Procter and Prosek Partners (led by Ryan Fitzgibbon).
Old National, the sixth largest commercial bank headquartered in the Midwest, agreed to merge with Bremer Financial, a privately held regional financial services company, in a $1.4bn deal.
Bremer Financial is advised by JP Morgan and Wachtell Lipton Rosen & Katz (led by Matthew M. Guest and Eric M. Feinstein). Old National is advised by Citigroup and Squire Patton Boggs. Otto Bremer Trust is advised by Keefe Bruyette & Woods and Sullivan & Cromwell.
Blackstone, an American multinational private equity firm, and EQT, an American energy company, agreed to form a joint venture in a $3.5bn deal.
Blackstone is advised by Citigroup and Milbank. EQT is advised by RBC Capital Markets and Kirkland & Ellis (led by David Feirstein).
Dhilmar, a newly incorporated, UK-based private mining company, agreed to acquire the Éléonore operation from Newmont, a gold company and a producer of copper, zinc, lead, and silver, for $795m.
Newmont is advised by BMO Capital Markets and Goodmans. Dhilmar is advised by Citigroup.
Flacks Group, a Miami-based investment firm, completed the acquisition of the Augusta Golf Crowne Plaza Hotel, an IHG Hotel known for its premier hospitality offerings in the vibrant Augusta, Georgia area. Financial terms were not disclosed.
Flacks Group is advised by Blue Lotus Ventures and Hodges Ward Elliott. Debt financing is provided by JP Morgan.
Sagewind Capital, a government technology-focused US private equity firm, completed the investment in Aechelon Technology, a provider of image generation software and complex databases. Financial terms were not disclosed.
Sagewind Capital was advised by Paul Weiss Rifkind Wharton & Garrison (led by Edward Ackerman) and Gasthalter & Co (led by Mark Semer).
Accel-KKR-backed Vitu, an innovator in Vehicle-to-Government technology, agreed to acquire the Dealertrack Registration and Titling businesses from Cox Automotive, a system software company. Financial terms were not disclosed.
Vitu is advised by Pierpont Communications. Accel-KKR is advised by Kekst CNC (led by Todd Fogarty).
EMEA
Novo, a life sciences investor, agreed to acquire the genetics business of Benchmark Holdings, an aquaculture genetics, specialist nutrition, and health business, for £260m ($326m).
UniCredit, an Italian multinational banking group, offered to acquire Banco BPM, an Italian bank, for €10.1bn ($10.5bn).
UniCredit is advised by Cappelli RCCD.
Atos in talks with government over €500m strategic tech deal. (Reuters)
French IT company Atos has entered negotiations with the French government for the potential acquisition of its advanced computing division, valued at €500m ($524m). This unit plays a vital role in securing military and secret service communications and producing servers for supercomputers.
The move aligns with the government’s effort to maintain national control over sensitive technology assets. Atos, currently burdened by substantial debt, is undergoing a major restructuring to stabilize its financial position.
Mohamed Mansour and Nadhim Zahawi in advanced talks to join Telegraph bid. (Financial Times)
Billionaire Mohamed Mansour and former UK Chancellor Nadhim Zahawi are in advanced negotiations to join a US-led consortium seeking to acquire the Telegraph newspaper.
Mansour, a former senior treasurer of the Conservative Party, has been linked to previous attempts to purchase the Telegraph alongside Zahawi. This move highlights the continued interest of high-profile figures in the prominent UK media outlet.
Real Madrid proposes major corporate overhaul to open door to third-party investors. (Bloomberg)
Real Madrid, the 15-time European football champion, is planning a significant corporate overhaul that would transfer ownership to its club members, paving the way for third-party investors.
During the club's general assembly on Sunday, Chairman Florentino Pérez announced that under the proposal, members would become “the true owners of the club.” He also mentioned that the club, with its 100k members, could distribute an asset valued at over €10bn ($10.5bn). The proposal will be put to a vote among the members.
Blackstone to launch IPO for Cirsa in 2025. (Expansion)
Private equity firm Blackstone plans to take Spanish gambling company Cirsa public in the first half of 2025.
The IPO is expected to raise between €700m ($732m) and €1bn ($1.1 bn) by floating 20% to 25% of the company. Blackstone has enlisted Barclays, Deutsche Bank, and Morgan Stanley as global coordinators for the offering.
APAC
Peabody Energy, a global pure-play coal company, agreed to acquire the steelmaking coal business of Anglo American, a British multinational mining company, for $3.8bn.
Peabody Energy is advised by Jefferies & Company, Moelis & Co, Jones Day and Wachtell Lipton Rosen & Katz.
Pacific Equity Partners, an Australian private equity investment firm, offered to acquire SG Fleet, a provider of integrated mobility solutions, including fleet management, vehicle leasing and salary packaging services, for $780m.
SG Fleet is advised by Bank of America and Gilbert + Tobin.
Motilal Oswal, an Indian financial services company, led a $350m funding round in Zepto, a grocery delivery app.
Global Schools explores minority stake sale valued at over $1bn. (Bloomberg)
Global Schools, a network of international schools backed by investors like Apollo Global Management, is exploring options that may include selling a minority stake.
The Singapore-based company is collaborating with a financial adviser on a potential deal that could value the entire business at over $1bn. Selling a minority stake could provide the company with funds to support its expansion.
PAG to acquire Manjushree Technopack from Advent International for $1bn. (Reuters)
PAG, an Asia-focused alternative investment firm, is reportedly set to acquire India-based plastic packaging company Manjushree Technopack from Advent International, a private equity firm, for an enterprise value of nearly $1bn.
Advent, which invested in Manjushree in 2018, planned to take the company public but ultimately decided on a sale, halting the IPO process.
Edelweiss seeks buyer for minority stake in mutual fund unit. (Bloomberg)
Investment and financial services company Edelweiss Financial Services has engaged Nomura to assist in finding a buyer for a 25% to 35% stake in its mutual fund business.
The Mumbai-based firm is targeting a valuation of $700m to $800m for the entire unit.
Zomato to raise $101m through qualified institutional placement. (DealStreetAsia)
Zomato, an India food delivery company, has received shareholder approval to raise approximately $101m via a qualified institutional placement.
The company has enlisted Morgan Stanley to oversee the fundraising process.
Singapore Gulf Bank plans $50m fundraise and stablecoin acquisition. (Bloomberg)
Singapore Gulf Bank aims to raise a minimum of $50m in a new funding round and plans to acquire a stablecoin payments firm in 2025.
The startup bank, founded by Singapore’s Whampoa Group is negotiating with a Middle Eastern sovereign wealth fund and other investors to sell an equity stake of under 10% at the beginning of the new year in order to fund the acquisition.
Indonesian affiliate of Mr DIY plans $297m IPO in Jakarta. (Bloomberg)
Daya Intiguna Yasa, the Indonesian sister company of Malaysian retailer Mr DIY Group, is set to launch an initial public offering in Jakarta, aiming to raise up to $297m. This would mark Indonesia's largest listing in over a year.
The company plans to sell up to 2.5bn shares, including 2.3bn shares held by shareholder Azara Alpina, with a price range of $0.10 to $0.12 per share.
|
