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AMERICAS
C&S Wholesale Grocers might be key to Kroger-Albertsons deal. (FS)
The largest supermarket merger ever hinges on a little-known grocery distributor. C&S Wholesale Grocers, a 106-year-old company based in New Hampshire, is set to play a key role in an antitrust trial that will decide whether Kroger can move ahead with its planned $20bn purchase of rival Albertsons, WSJ reported.
The case is scheduled to begin August 26 in a federal court in Oregon and expected to last about three weeks.
Albertsons is advised by Credit Suisse, Goldman Sachs (led by Timothy Ingrassia), Debevoise & Plimpton (led by Ted Hassi), Fried Frank Harris Shriver & Jacobson (led by Philip Richter), Jenner & Block (led by Alexander May, Edward L. Prokop and Kevin T. Collins), Wachtell Lipton Rosen & Katz (led by Zachary Podolsky and Adam Emmerich) and White & Case and Brunswick Group. Financial advisors are advised by Alston & Bird (led by Stuart Rogers), Cravath Swaine & Moore (led by Robert I. Townsend) and Davis Polk & Wardwell (led by Phillip R. Mills and Cheryl Chan). Kroger is advised by Citigroup (led by Brian Anton and David Finkelstein), Wells Fargo Securities, Arnold & Porter Kaye Scholer, Weil Gotshal and Manges (led by Michael J. Aiello), Joele Frank (led by Greg Klassen). Cerberus is advised by Dechert (led by Eric Siegel and Mark Thierfelder), FGS Global (led by Andrew Cole). Schottenstein Stores is advised by Wachtell Lipton Rosen & Katz (led by Adam Emmerich).
Sixth Street-backed Legends, a food, beverage, merchandise, retail, and stadium operations corporation, completed the acquisition of ASM Global, a live event entertainment company, from Onex, a private equity firm, and Anschutz Entertainment Group, an American global sporting and music entertainment presenter. Financial terms were not disclosed.
"The next era of Legends starts now. Over the course of 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value for our global partners, setting the standard in sports and entertainment," Dan Levy, Legends CEO.
ASM Global was advised by Goldman Sachs, Jefferies & Company, Arnold & Porter Kaye Scholer, Hogan Lovells (led by Mark Kurtenbach and David Holland), Latham & Watkins (led by Shaun Hartley and Daniel Breslin) and breakwhitelight (led by Jim Yeager). Legends Hospitality was advised by Bank of America, Moelis & Co, Cleary Gottlieb Steen & Hamilton and Ropes & Gray (led by Jonathan Gill). Debt financing was provided by Apollo Global Management, Ares Capital, Goldman Sachs, HPS Investment Partners, KKR Credit and Oaktree Capital Management. Debt providers were advised by Paul Hastings (led by John Cobb and Jennifer Yount).
Skydance Media is accusing Paramount Global's special committee of directors of breaching the terms of its deal by extending the period of time when it can engage with other bidders, WSJ reported.
This comes after veteran media executive Edgar Bronfman Jr sweetened his bid to take over Paramount offering $6bn for its controlling shareholder National Amusements and a minority stake in Paramount.
Paramount is advised by Centerview Partners, Rothschild & Co (led by David Baron), Cravath Swaine & Moore (led by Faiza Saeed), Simpson Thacher & Bartlett (led by Eric Swedenburg), Brunswick Group (led by Jonathan Doorley and Nik Deogun) and FGS Global (led by Dan Abernethy and Maddie Peebles). Financial advisors are advised by Gibson Dunn & Crutcher (led by Andrew Kaplan). Skydance Media is advised by Bank of America, Moelis & Co, RedBird Advisors, The Raine Group, Latham & Watkins (led by Justin Hamill, Bradley Faris, Ian A. Nussbaum, Liliana S. Paparelli Ranger, Max Schleusener and Rick Offsay), Gagnier Communications (led by Dan Gagnier) and Principal Communications Group (led by Melissa Zukerman). RedBird Capital is advised by Sullivan & Cromwell (led by Eric M. Krautheimer and Alison S. Ressler). National Amusements is advised by BDT & MSD Partners, Ropes & Gray (led by Jackie Cohen) and Kekst CNC (led by Molly Morse).
Plum Acquisition Corp III, a NASDAQ-listed special purpose acquisition company, agreed to acquire Tactical Resources, a mineral exploration and development company focused on rare earth elements, for $589m.
“We are thrilled to announce our business combination with Tactical Resources. At Plum, we are committed to partnering with companies with strong business profiles and experienced management teams, and Tactical Resources stood out to us due to a compelling history of successes achieved by members of its management team and a very important mission to enhance national security. With the U.S.’s reliance on Chinese rare earth element sources, we believe that Tactical Resources is poised to play a critical role in supply chains essential to semiconductors, a clean energy future, and the national defense industry. We look forward to collaborating with Tactical Resources, Ranjeet and his team, as Tactical Resources grows and works to create shareholder value,” Kanishka Roy, Plum CEO.
Plum is advised by Cohen & Company Capital Markets, Aird & Berlis and Hogan Lovells. Tactical Resources is advised by Manning Elliott, Jett Capital Advisors, A&O Shearman (led by Alain Dermarkar and Romain Dambre), Allen & Overy and McMillan.
THL Partners, an American private equity firm, agreed to acquire a majority stake in YA Group, an international professional services organization providing forensic consulting, engineering, risk mitigation, and related services, from CIVC Partners, a private equity firm. Financial terms were not disclosed.
"We regard YA as the market leader in a wide range of complex services that support global insurance markets. Their deep expertise, long track record of client success, and outstanding corporate culture make them a critical industry platform. As longtime investors in insurance services and technology, we believe we are well positioned to help the company realize new growth opportunities that will strengthen their position as trusted strategic advisors to their clients," Ed Shahnasarian, THL Managing Director.
Brighton Park Capital, an investment firm focused on entrepreneur-led, growth-stage companies, completed the $250m investment in TickPick, a transparent ticket marketplace transforming the event ticketing industry. Financial terms were not disclosed.
“We're thrilled to announce our latest growth investment, which will help accelerate our ability to transform the ticketing industry. We founded TickPick with the unwavering commitment to deliver a transparent and hassle-free ticket-buying experience for consumers. This investment will allow us to deepen this commitment by accelerating the pace of product innovation, raise our brand awareness, and reach more customers than ever before," Chris O’Brien, TickPick Co-Founder and Co-CEO.
MPE Partners-backed Precision Pipeline, a company that provides repair, replacement, and maintenance services, completed the acquisition of Allegheny Contracting, a provider of technical utility services for the natural gas end market. Financial terms were not disclosed.
“Allegheny has established itself as one of the premier natural gas utility service providers in Pennsylvania and surrounding states. Its success is a testament to the culture of safety and quality that Brent has instilled throughout the organization, and we look forward to partnering with the Allegheny team to support its continued success," Mark Crowson, Precision Chief Executive Officer.
MPE Partners was advised by Jones Day (led by Lisa Lathrop). Debt financing was provided by BMO Capital Markets and Churchill Asset Management.
Getinge, a company that provides hospitals and life science institutions with products and solutions, agreed to acquire Paragonix Technologies, an organ transplant company, from Signet Healthcare, a healthcare growth equity firm. Financial terms were not disclosed.
“Since our inception, Paragonix’s primary focus has been on improving patient outcomes and increasing the number of successful transplants. We have dedicated ourselves to providing clinicians and their patients with best-in-class solutions while also developing comprehensive clinical data for all solid organs. Our success is a testament to our team’s passion, commitment, and relentless pursuit of excellence. We are excited to join Getinge to bring our innovations, technologies, and services to underserved patient populations worldwide. Each day, we are inspired to deliver novel, life-changing innovations to the transplant and donation communities. We express our deepest gratitude to the clinical and donation community for the opportunity to serve," Dr. Lisa Anderson, Paragonix Founder, President & CEO.
Spectris, a supplier of precision instrumentation and controls, completed the acquisition of Micromeritics, a provider of analytical instrumentation for particle and materials characterization, for $683m.
"The acquisition of Micromeritics fits perfectly with our strategy to build world-class businesses compounding growth and generating strong value creation for our customers and shareholders. Micromeritics is a high-quality business with a strong track record of growth and innovation with excellent growth prospects," Andrew Heath, Spectris CEO.
Vibra, a distributor and marketer of petroleum derivatives and biofuels, completed the acquisition of the remaining 50% stake in Comerc Energia, a company that provides generator management, natural gas market, distributed generation, and energy efficiency solutions, for $648m.
“Our decision is motivated by the significant financial return, which will come from the significant synergies synergies between the two companies and the low risk of a fully operational business. operational. Comerc has been showing good results, with the main generation generation projects completed and generating an annualized EBITDA of R$1bn by 2024,” Ernesto Pousada, Vibra CEO.
Vibra was advised by JP Morgan and InPress Porter Novelli.
Groupe ADP, an international airport operator that provides aviation-related services, agreed to acquire The Private Suite, an operator of private luxury terminals serving commercial flights, from TPG, an alternative asset management firm. Financial terms were not disclosed.
“When we started PS, we were initially in the security and logistics business, but over time, the demand for our services has evolved and expanded to deliver that same experience with the added convenience and luxury that has become synonymous with the PS brand. With TPG’s resources and operational insights, coupled with our team’s deep hospitality expertise, we have successfully built a first-of-its-kind luxury travel service for commercial flyers – and we are just getting started. We are now at an exciting inflection point with ambitions to create an international brand and believe this partnership with Groupe ADP will enable us to offer more locations and experiences to our members, while creating new and exciting opportunities for our team," Amina Belouizdad Porter, PS CEO.
The Private Suite is advised by Robert W Baird (led by Jordan Klein).
HIG Capital-backed Hibu, a provider of technology-enabled digital marketing solutions to small- and medium-sized businesses, completed the acquisition of RevLocal, a digital marketing company. Financial terms were not disclosed.
"We are thrilled to welcome the talented team and loyal customers of RevLocal to Hibu. Digital marketing is rapidly changing and becoming increasingly complex, which creates real challenges for SMBs. The combination of these two great companies will further expand our reach to local businesses who will benefit from working with a single provider that integrates and optimizes all their core digital marketing services on one platform," Kevin Jasper, Hibu Chief Executive Officer.
RevLocal was advised by BrightTower (led by Eric Winn).
CORE Industrial-backed PrecisionX, a company that provides precision metal components for critical-use applications in growth-oriented end markets, completed the acquisition of Ditron, a provider of micro precision stamping. Financial terms were not disclosed.
“The acquisition of Ditron strategically expands PrecisionX’s capability set to include high-speed, high-volume micro and micro-miniature stamping. We believe Ditron’s focus on serving critical use applications in growing end markets through a differentiated specialty manufacturing capability makes the Company an ideal fit with the platform," Matthew Puglisi, CORE Partner.
CORE Industrial was advised by BackBay Communications (led by Jeremy Milner).
Cerberus Capital Management, a private equity firm, completed the acquisition of Outform, a global innovation agency. Financial terms were not disclosed.
"This strategic transaction marks a pivotal moment in our journey to redefine the retail landscape and deliver world-class service to our clients. Our talented and innovative global team is poised to capitalize on emerging market opportunities and drive sustainable growth. We are thrilled to strengthen our relationship with Cerberus as we relentlessly pursue our vision of shaping the future of retail through groundbreaking innovation and exceptional customer experiences," Ariel Haroush, Outform CEO.
Meritage explores the $2bn sale of Columbia Distributing. (FS)
Meritage Group is exploring the potential sale of Columbia Distributing that could value the US beverage distributor at about $2bn, including debt, Reuters reported.
Meritage, which was launched by billionaire Nat Simons after he left hedge fund Renaissance Technologies in 1997, is working with investment bankers at Morgan Stanley on a sale process for Columbia, which is one of the largest US beverage distributors.
TPG and UnitedHealth are among suitors for Surgery Partners. (FS)
TPG, a private equity firm, and UnitedHealth Group, a multinational health insurance and services company, are among the suitors seeking to buy Surgery Partners, an operator of surgical facilities and ancillary services, Bloomberg reported.
The buyout firm and health insurance company have separately expressed preliminary interest in Surgery Partners. Surgery Partners is also drawing interest from other private equity firms and strategic bidders.
McKesson in talks for stake in Florida Cancer Specialists.
McKesson, a company that distributes pharmaceuticals and provides health information technology, is in advanced talks to buy a controlling stake in Florida Cancer Specialists & Research Institute, a privately-held operator of oncology clinics, Bloomberg reported.
Drug distributor McKesson could pay about $3.5bn for the holding and a deal may be announced in the coming weeks. McKesson has been competing with other bidders for the asset.
BHP's return to Argentina marks new hope for untapped copper mines.
A new incentive regime for mining in Argentina is attracting major players such as BHP, who are starting to eye the South American country as the world's next frontier for copper, Reuters reported.
BHP's investment last month marked the company's first foray into mining in Argentina in two decades. It teamed up with Canada's Lundin Mining in the $3.25bn buyout of Filo, with the aim of developing two copper mines along the Andes mountains bordering Chile.
Bristol-Myers Squibb-backed Zenas BioPharma files for US IPO.
Bristol-Myers Squibb-backed Zenas BioPharma, an immunology and inflammation focused biopharma company, has filed to go public in the United States, underscoring improving investor appetite for new listings, Reuters reported.
Zenas BioPharma said it has raised $358m from investors since its inception.
Blackstone’s BREIT names Wesley LePatner CEO, succeeding Cohen. (FS, People)
Blackstone’s real estate trust for wealthy individuals said Wesley LePatner will become chief executive officer, effective January 1.
LePatner, currently chief operating officer at Blackstone Real Estate Income Trust, will succeed Frank Cohen, who will retire after nearly 30 years at Blackstone.
UBS activism bankers depart for roles at BofA, Wells Fargo. (People)
UBS Group has lost members of its activism defense team in the US to rival banks, Bloomberg reported.
New York-based managing director Jonathan Lurvey is going to Bank of America to focus on mergers and acquisition in the energy sector.
Delta Operations Chief to depart for new job. (People)
Delta Air Lines’ chief operating officer will leave to take a role at another company, said Chief Executive Ed Bastian.
Bastian said that Mike Spanos, who has been COO for just over a year, had approached him earlier this summer and said he was considering other opportunities. The company said that Spanos’s departure will be effective August 31 and that he will receive severance benefits, including 18 months of his base salary, WSJ reported.
EMEA
Demant, a multinational company involved with hearing care, hearing aids, audiometric equipment and personal communication devices, agreed to acquire Dansk HøreCenter, a hearing solutions provider, from GN, an intelligent audio solutions provider. Financial terms were not disclosed.
“We are pleased to have found a new owner for DHC that can continue to take good care of DHC’s customers. I would also like to thank DHC’s employees for their dedication to hearing care over the years in the GN family. For us at GN, this is an important divestment allowing us to fully focus on what we do best," Scott Davis, GN Hearing division President.
GN is advised by Gorrissen Federspiel (led by Niels Bang).
Siemens Healthineers, a German company which provides healthcare services, offered to acquire the molecular imaging business from Novartis, a Swiss multinational pharmaceutical corporation, for €200m ($224m).
The molecular imaging business is the diagnostic arm of Advanced Accelerator Applications. The transaction is expected to close in the last quarter of the year, pending regulatory approval and negotiations with Novartis's works council. Novartis put AAA's diagnostics division up for sale last year, in an effort to divest low-growth parts of its business.
Ipsos, a market research and polling company, agreed to acquire infas, a Germany-based social research company, for €61m ($68m).
"The new combined entity will be one of the largest players in Germany, which is a key strategic growth market for Ipsos, and will benefit from enhanced expertise, expanded customer reach, and significant synergies. This transaction aligns perfectly with our 2025 strategic objectives, particularly our commitment to strengthen our leadership position in serving governments and public sector clients. Both Ipsos and infas share a client-centric approach and a dedication to innovation, ensuring a strong cultural fit and a seamless integration. We are confident this acquisition will create substantial value for the shareholders," Ben Page, Ipsos CEO.
Final bids value Deutsche Bahn's Schenker at around €14bn. (FS)
Deutsche Bahn's logistics unit Schenker has received final bids from Danish transport firm DSV and a consortium led by CVC Capital Partners, with each valuing the business at around €14bn ($15.6bn), Reuters reported.
The divestment of Schenker, which has over 70k employees in 130 countries worldwide including around 15k in Germany, could be one of the largest transactions in Europe this year.
Lynch-backed Featurespace in talks about Visa takeover.
A bid from Visa for the Cambridge-based fraudbuster could value Featurespace, which was set up in 2008, at approximately £700m ($921m), Sky News reported.
A British fraud detection company backed by Mike Lynch, the technology entrepreneur who died this week, is in talks about a sale to Visa, the American payments giant, worth hundreds of millions of pounds.
Investors mull bid for Vivendi’s Telecom Italia stake: Corriere.
A consortium of investors is mulling the potential purchase of Vivendi’s stake in Telecom Italia, said Corriere della Sera.
The reported group would include Andrea Pezzi, a former Vivendi consultant in Italy, and Claudio Costamagna, the former president of state lender Cassa Depositi e Prestiti, Bloomberg reported.
Billionaire Paul Marshall nears deal to buy Britain’s Spectator magazine for over $131m.
Hedge-fund billionaire Paul Marshall is nearing a deal to acquire Britain’s Spectator magazine for more than $131m, as the would-be media mogul seeks to expand his roster of news outlets, WSJ reported.
The deal, if completed, could be announced as soon as August 27. This acquisition marks a significant move by the hedge-fund mogul to expand his media influence. Marshall's investment could reshape how British media operates, reflecting broader trends in media ownership.
CME, S&P explore sale of post-trade joint venture OSTTRA.
CME Group, a financial services company, and S&P Global, a financial information and analytics company, are weighing a sale of a joint venture offering post-trade services in the foreign exchange and derivatives markets, Bloomberg reported.
The companies are working with financial advisers to seek buyers for the JV called OSTTRA. The unit may be valued at $2bn to $4bn, including debt, depending on how a deal is structured.
Private equity circles Grant Thornton’s UK business. (FS)
Several private equity firms are considering offers for a stake in Grant Thornton’s UK business, in a competitive bidding process aimed at securing a valuation of up to £1.5bn ($2bn) for the mid-tier accountant.
Carlyle, Blackstone, Permira, CVC Capital Partners and Bridgepoint are among buyout firms weighing potential offers for Grant Thornton UK ahead of a deadline in September for formal expressions of interest, FT reported.
Germany to extend Rosneft trusteeship again amid hunt for buyer.
Germany is likely to extend its trusteeship over the local subsidiaries of Russia’s state energy giant Rosneft for a fourth time in order to give Moscow more time for the sale of the seized entity.
The state-controlled Russian oil giant is in the process of finding a buyer for the two German units — with up to three parties interested — but the process will take longer, Bloomberg reported.
APAC
India's antitrust body has reached an initial assessment that the $8.5bn India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights, Reuters reported.
It is the biggest setback so far to the planned Disney-Reliance merger which aims to create India's biggest entertainment player which will compete with Sony, Zee Entertainment, Netflix and Amazon with a combined 120 TV channels and two streaming services.
Disney is advised by Citigroup, The Raine Group (led by Rounak Chandak), AZB & Partners (led by Ashwath Rau and Kashish Bhatia), Cleary Gottlieb Steen & Hamilton (led by Nallini Puri) and Covington & Burling. Reliance is advised by Ernst & Young, Goldman Sachs, Khaitan & Co (led by Deepak Jodhani, Tanu Banerjee, Haigreve Khaitan and Mehul Shah), Shardul Amarchand Mangaldas & Co (led by Pallavi Shroff) and Skadden Arps Slate Meagher & Flom (led by Howard Ellin). Viacom18 is advised by BDO, Ernst & Young, Goldman Sachs, HSBC, Khaitan & Co and Shardul Amarchand Mangaldas & Co. Paramount is advised by J. Sagar Associates (led by Bharati Joshi and Lalit Kumar).
True Wind Capital, a private equity firm, completed the acquisition of as 19% stake in Sun Corporation, an electronics manufacturer, for $160m.
“We are excited to partner with SUN’s leadership team and become significant shareholders in the Company. This partnership builds upon our history of collaboration with SUN representatives on Cellebrite’s board of directors, and we look forward to working with all stakeholders to maximize the corporate value of both SUN and Cellebrite over the long-term," Adam Clammer, True Wind Managing Partner.
True Wind was advised by Simpson Thacher & Bartlett (led by Atif Azher) and Rubenstein Associates.
CK Birla-backed Birla Fertility, a fertility services provider, completed the acquisition of Babyscience IVF Centres, a fertility center company. Financial terms were not disclosed.
"We have expanded across India to leverage our global expertise and state-of-the-art infrastructure and deliver exceptional pregnancy rates that meet international standards," Abhishek Aggrawal, Birla Fertility & IVF Chief Business Officer.
Taiwan's CTBC Financial upped the ante in the battle for Shin Kong Financial, offering more than $4bn for a controlling stake in its rival to create the island's biggest finance group, Bloomberg reported.
CTBC offered $0.46 in cash and stock for up to 51% in Shin Kong, Taiwan's fifth-largest financial conglomerate. That's a 17% premium on Shin Kong's last closing price. The bid trumps an offer from rival suitor Taishin Financial, which proposed a stock swap for Shin Kong worth $0.36 a share.
China Mobile, a telecommunications services provider, completed the investment in HONOR, a Chinese consumer electronics company. Financial terms were not disclosed.
Honor stated that the company has always adhered to the principles of open and transparent development, and will continue to diversify its equity structure. The investment from CHINA MOBILE in Honor is a financial investment with good synergies in innovation in the personal and family terminal markets.
Philippine Tank Storage International seeks strategic investors.
Owners of oil import storage firm Philippine Tank Storage International are seeking to bring a strategic investor into the company that runs the biggest petroleum products import storage facility in the country, Reuters reported.
Singapore's Keppel Infrastructure Trust and Philippine conglomerate Metro Pacific Investments are weighing the deal that could potentially value the asset at up to $500m.
Seven & I takeover proposal tests Japan's commitment to M&A.
Canadian retailer Alimentation Couche-Tard's proposal to buy the operator of 7-Eleven convenience stores follows the introduction last year of government guidelines on mergers and acquisitions instructing companies to seriously consider takeover offers. After years of activist investors pushing for change and unconsummated attempts from abroad to buy big companies, the deal is being keenly observed at home and abroad.
GQG Partners biggest buyer of Ambuja shares in Adani-owned co's stake sale. (FS)
US boutique investment firm GQG Partners was the largest buyer in a stake sale of India's Ambuja Cements by an Adani-owned company on August 23.
Adani-owned Holderind Investments, which had a nearly 51% stake in Ambuja Cements as of June-end, had offered a 2.8% stake worth $500m.
Walmart's exit raises questions about JD.com's future.
E-commerce retailer JD.com needs to convince investors of its relevance amid a stagnant Chinese e-commerce market, aggressive price war and now, the departure of Walmart, its biggest shareholder.
Walmart announced this week a full exit from the Beijing-based e-commerce platform, selling off its $3.74bn stake, which triggered a 10% slump in its share price and raised questions about JD.com's ability to withstand the changed landscape.
ART set to take up Queensland government’s 33% stake in Powerco. (FS)
The country’s No. 2 superannuation fund, Australian Retirement Trust, is set to take majority ownership of Kiwi energy distributor Powerco, which delivers electricity and gas across the North Island and was expected to be worth about $2bn, Australian Financial Review reported.
The deal — expected to be inked this week — will see ART acquire a 33% stake in the company in a move that will increase its ownership to 58%. Dexus Group will still have a 42% holding in the New Zealand power firm.
Alibaba to upgrade Hong Kong listing to tap Chinese traders.
Alibaba Group shareholders have approved a plan to upgrade its Hong Kong listing to primary status on August 28, a maneuver expected to attract billions of dollars in investment from mainland China.
Shareholders ratified the decision as expected to convert the Hong Kong listing, a plan first broached two years ago amid heightened tensions with the US. That allows Alibaba to join a program that connects the Shanghai and Shenzhen bourses to Hong Kong’s exchange. The stock opened largely unchanged in Hong Kong on Friday.
Chipmaker Kioxia aims to list in Tokyo in October.
Japanese chipmaker Kioxia has filed for an October initial public offering on the Tokyo exchange, pulling the trigger on a long-anticipated debut at a time AI development is fueling semiconductor demand, Nikkei reported.
The company is expected to achieve a market capitalization of over $10.3bn, marking what would be the bourse's largest initial public offering so far this year. Kioxia aims to use the proceeds as it works to meet surging demand for memory chips from the AI boom.
Westwell is said to prepare for Hong Kong debut next year.
Westwell, a Chinese company that develops autonomous-driving technology for logistics companies, is gearing up for a Hong Kong initial public offering, Bloomberg reported.
Shanghai Westwell Lab Information Technology is working with China International Capital, Citic Securities and CMB International for the offering, which could happen as early as 2025. The company is planning on raising as much as $100m.
Bain-backed 360 One raises $500m for secondary fund. (FS)
Bain Capital-backed 360 ONE WAM, one of India’s largest wealth firms, raised $500m for its debut secondary fund, according to Sameer Nath, chief investment officer and head of venture capital and private equity at its asset management business.
Unlike typical secondary funds that buy stakes in other funds, 360 One’s will also invest in companies planning to go public within the next two years, Bloomberg reported.
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