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Top Highlights
TPG, a global alternative asset management firm, agreed to acquire a majority stake in Conservice, a provider of utility management software and billing solutions to property owners and managers, according to press releases. Financial terms are not disclosed.
Conservice and TA Associates are advised by Evercore, Goldman Sachs and Goodwin Procter. TPG Capital is advised by UBS, Union Square Advisors, Davis Polk & Wardwell (led by Oliver H. Smith). Financial advisor is advised by Ropes & Gray. Advent International is advised by Evercore, Goldman Sachs and Weil Gotshal and Manges, according to press releases.
Stonepeak, a private equity firm, agreed to acquire TeleTower, a company in the Baltic region offering infrastructure and services for telecommunication, internet, radio, and remote sensing networks, from Bitė Group, a telecommunications and media company operating in the Baltic region, according to press releases. Financial terms were not disclosed.
Stonepeak is advised by Barclays and Simpson Thacher & Bartlett. Bitė Group is advised by Lazard, A&O Shearman, Paul Weiss Rifkind Wharton & Garrison and Sorainen. Providence Equity Partners is advised by FGS Global (led by Rory King), according to press releases.
Nexture, a global group specialising in the development and manufacturing of high-quality food ingredients and value-added solutions, agreed to acquire Sipral Padana, an Italian group specializing in the production of value-added semi-finished ingredients for the food and beverage industry, according to press releases. Financial terms were not disclosed.
Nexture is advised by Mediobanca, PedersoliGattai, PricewaterhouseCoopers, Investindustrial, McKinsey & Company, Ramboll and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
Deal Round up
AMERICAS
Mexico antitrust commission to revise Volaris-Viva Aerobus tie-up. ( Reuters)
EMEA
Uzbekistan to expand local market with new listings and bond rules. ( Bloomberg)
APAC
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PR ADVISORS
DEBT PROVIDERS
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AMERICAS
Electronic Arts shareholders approved the $55bn sale to Saudi Arabia’s Public Investment Fund, endorsing the $210-per-share deal for the Redwood City-based publisher of EA SPORTS FC and Battlefield.
Electronic Arts is advised by Goldman Sachs, Clifford Chance (led by Philipp Girardet), Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy, David Lam and Eric Feinstein). FGS Global (led by Mike Feldman and John Christiansen). Financial advisor is advised by Paul Weiss (led by Laura Turano and Scott Barshay). PIF is advised by JP Morgan, Gibson Dunn (led by Richard Birns), Kirkland & Ellis and FGS Global (led by Danya Al-Qattan). Silver Lake Partners is advised by JP Morgan, Kirkland & Ellis, Latham & Watkins (led by Ian A. Nussbaum and Michael V. Anastasio), Simpson Thacher & Bartlett and FGS Global (led by Monique Sidhom). Affinity Partners is advised by JP Morgan, Kirkland & Ellis, Sidley Austin and FGS Global. Debt financing is provided by JP Morgan, according to press releases and MergerLinks data.
Paramount Skydance’s revised $108.4bn bid for Warner Bros Discovery is still deemed insufficient by major shareholder Harris Oakmark, which holds about 4% of shares, as investors weigh the competing Netflix offer, concerns over financing stability, and extended shareholder deadlines to January 21
Paramount is advised by Bank of America, Barclays, Centerview Partners, Citigroup, M. Klein & Co, RedBird Advisors, Cleary Gottlieb Steen & Hamilton, Cravath Swaine & Moore (led by Faiza Saeed), Latham & Watkins (led by Ian A. Nussbaum), Brunswick Group and Okapi Partners. Debt financing is provided by Apollo Global Management, Bank of America and Citigroup. Netflix is advised by Moelis & Co, Wells Fargo Securities, Skadden Arps Slate Meagher & Flom (led by Kenton J. King). Debt financing is provided by BNP Paribas, HSBC and Wells Fargo Securities. Warner Bros. is advised by Allen & Company, Evercore, JP Morgan, Debevoise & Plimpton (led by Jonathan Levitsky), Wachtell Lipton Rosen & Katz (led by Karessa Cain and Andrew Nussbaum) and Joele Frank (led by Kelly Sullivan and Daniel Katcher). Financial advisor is advised by White & Case, according to press releases and MergerLinks data.
Union Pacific’s proposed $85bn acquisition of Norfolk Southern is facing opposition from the Brotherhood of Railroad Signalmen, which warns the deal could undermine safety and harm workers. The union plans to submit comments to regulators as the merger, which would create the first US coast-to-coast railroad, undergoes review amid broader labor pushback.
Fulgent Genetics, a technology-based company active in laboratory services and therapy development, agreed to acquire selected assets of Bako Diagnostics, a national provider of specialty laboratory testing services, and StrataDx, a national diagnostic laboratory located in Lexington, Massachusetts, dedicated to providing dermatopathology health care services, from Consonance Capital, a healthcare investment firm, for $55m, according to press releases.
Fulgent Genetics is advised by Piper Sandler, Mintz Levin and The Blueshirt Group (led by Lauren Sloane). Consonance, Bakotic and StrataDX is advised by EV Health Partners and Latham & Watkins, according to press releases.
VSE Corporation, a provider of aviation aftermarket distribution and repair services, completed the acquisition of Aero 3, a diversified global maintenance, repair and overhaul service provider, from GenNx360 Capital Partners, a private equity firm focused on acquiring middle market business-to-business services companies, according to press releases. Financial terms were not disclosed.
GenNx360 was advised by Harris Williams & Co and Winston & Strawn. VSE Corporation was advised by Jones Day (led by Lorne Cantor), according to press releases and MergerLinks data.
ServiceNow, an American software company developing a cloud-based digital workflow platform, agreed to acquire Armis, a developer of Internet of Things security solutions, for $7.75bn, according to press releases.
ServiceNow is advised by Barclays, JP Morgan and Tidal Partners, according to press releases.
Alphabet, a collection of companies, the largest of which is Google, agreed to acquire Intersect, a provider of data center and energy infrastructure solutions by co-locating industrial demand with dedicated gas and renewable power generation, for $4.75bn, according to press releases.
Intersect is advised by JP Morgan and Morgan Stanley, according to press releases and MergerLinks data
Howmet Aerospace, a global provider of advanced engineered solutions for the aerospace and transportation industries, agreed to acquire Consolidated Aerospace Manufacturing, a manufacturer and supplier of aerospace components, from Stanley Black & Decker, a provider of industrial tools and household hardware, for $1.8bn, according to press releases.
Howmet is advised by JP Morgan and Cleary Gottlieb Steen & Hamilton, according to press releases.
Main Capital Partners-backed Omnidocs, a Danish software company, completed the acquisition of a majority stake in officeatwork, a Switzerland-based provider of document creation solutions with a strong foothold in the DACH region. Financial terms were not disclosed.
Omnidocs was advised by Bar & Karrer, according to press releases.
HARMAN, an American audio electronics and connected technologies company, agreed to acquire the advanced driver assistance systems business of ZF, a German technology manufacturing company that supplies systems for passenger cars, commercial vehicles and industrial technology, for $1.5bn, according to press releases.
Coinbase, a digital currency exchange, agreed to acquire The Clearing Company, a blockchain / crypto startup building a permissionless on-chain prediction market platform, according to press releases. Financial terms were not disclosed.
Mexico antitrust commission to revise Volaris-Viva Aerobus tie-up. (Reuters)
Mexico’s antitrust commission will review the planned Viva Aerobus–Volaris tie-up, which President Claudia Sheinbaum described as positive for investment, tourism and competition if it complies with the law. The scrutiny follows the airlines’ agreement to form a new low-cost group.
EMEA
Uzbekistan to expand local market with new listings and bond rules. ( Bloomberg)
Uzbekistan is introducing rules allowing companies to pursue dual listings and issue bonds denominated in foreign currencies, as part of efforts to develop its domestic capital market and attract investment.
The changes were approved under a decree signed on December 18 by President Shavkat Mirziyoyev and set priorities for capital market development through 2030, focusing on improving the investment climate.
APAC
Blackstone, an alternative asset manager, agreed to acquire Hamilton Island, an Island of the Whitsunday Islands in Queensland, Australia, and an integrated resort destination, from Oatley family, current owners of the island and associated development. Financial terms were not disclosed.
Blackstone is advised by MorrisBrown Communications. (led by Olivia Brown)
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