Uranium Royalty completes the merger with Sweetwater Royalties in a $1.9bn deal.

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AMERICAS

American Industrial Partners completes the acquisition of the warehouse and workflow solutions business of Honeywell.

American Industrial Partners, an operationally-oriented middle-market private equity firm, completed the acquisition of the warehouse and workflow solutions business of Honeywell, an American multinational conglomerate company, according to press releases. Financial terms were not disclosed.

American Industrial Partners was advised by Evercore, Baker Botts (led by Theodore Posner), Ropes & Gray (led by Michael Littenberg) and Prosek Partners. Honeywell was advised by Centerview Partners, Baker McKenzie (led by Duffy Lorenz and Gudrun Juffer) and Koroberi, according to MergerLinks data and press releases.

Pentair to acquire Taco Group for $1.4bn.

Pentair, a global water treatment company, agreed to acquire Taco Group, a provider of hydronic and water-control solutions, for $1.4bn, according to press releases.

Pentair is advised by Jefferies & Company, Faegre Drinker Biddle & Reath and Joele Frank. Debt financing is provided by US Bank. Taco Group is advised by Doeren Mayhew, Goldman Sachs and Loeb & Loeb, according to press releases.

Capitol Meridian Partners to invest in RH Aero Systems.

Capitol Meridian Partners, a US investment firm, agreed to invest in RH Aero Systems, a US aviation support equipment and services provider, according to press releases. Financial terms were not disclosed.

RH Aero Systems is advised by Vistina, Taft Law Firm and Taylor Wessing. Capitol Meridian Partners is advised by Macquarie Group, Latham & Watkins (led by J. Cory Tull and Brad Guest) and Ullman Communications (led by Chris Ullman). Debt financing is provided by MidCap Financial Services, according to MergerLinks data and press releases.

Carlyle completes the acquisition of Secturion Systems.

Carlyle, a global private equity and alternative asset manager, completed the acquisition of Secturion Systems, a developer of hardware-based cybersecurity and data protection technologies for defense and intelligence applications, according to press releases. Financial terms were not disclosed.

Secturion Systems was advised by D.A. Davidson & Co (led by Michael Smith and George Albright III) and Wilson Sonsini Goodrich & Rosati. Carlyle was advised by Latham & Watkins (led by Shaun Hartley and Elizabeth More), according to press releases and MergerLinks data.

Crown Brands Group completes the acquisition of Cosabella from CALIDA GROUP.

Crown Brands Group, a New York-based global brand management company, completed the acquisition of Cosabella, an Italian luxury lingerie brand, from CALIDA GROUP, a Swiss-listed premium underwear and lingerie company, according to press release. Financial terms were not disclosed.

Crown Brands Group was advised by Lincoln International and Benesch Friedlander Coplan & Aronoff. CALIDA was advised by Covington & Burling, according to MergerLinks data and press releases.

SNDL completes the acquisition of certain operating assets of Parallel in an $842m deal.

SNDL, a Canadian liquor and cannabis company, completed the acquisition of certain operating assets of Parallel, a US multi-state cannabis and cannabinoid company, in an $842m deal, according to press releases.

SNLD was advised by Moelis & Co and Weil Gotshal and Manges, according to press releases.

LS Power-owned OPTERRA Energy Services to acquire NORESCO from Carrier Global.

LS Power-owned OPTERRA Energy Services, an energy company that provides infrastructure modernisation, facility upgrades, and sustainable energy solutions to the public sector, agreed to acquire NORESCO, an energy services company that specialises in energy efficiency, infrastructure upgrades, and sustainability, from Carrier Global, a provider of climate control and energy solutions, according to press releases. Financial terms were not disclosed.

Carrier Global is advised by Jefferies & Company and Akerman, according to press releases.

NVIDIA to invest c. $5m in Safe Superintelligence.

NVIDIA, a US technology company, agreed to invest c. $5m in Safe Superintelligence, an AI research company focused on developing safe superintelligence, according to press releases.

New Jersey American Water completes the acquisition of Gordon’s Corner Water Company.

New Jersey American Water, a regulated water utility company, completed the acquisition of Gordon’s Corner Water Company, an investor-owned water utility, serving customers in the townships of Marlboro and Manalapan, according to press releases. Financial terms were not disclosed.

Paramount ‘highly confident’ Warner Bros. deal will close. (Bloomberg)

Paramount Skydance Chief Executive David Ellison said he remains confident that the proposed $110bn acquisition of Warner Bros. Discovery will be completed despite ongoing legal challenges.

Ellison said regulators in 65 jurisdictions, including the European Union, the United States and South Korea, have either approved the transaction or elected not to challenge it, as the companies continue to pursue closing of the merger.

Curium to near about $7bn acquisition of Lantheus. (Bloomberg)

Curium is in advanced discussions to acquire radiopharmaceutical company Lantheus Holdings.

The proposed transaction would value Lantheus at approximately $102 per share in cash, plus contingent value rights of $12.50 per share tied to future milestones. The parties are working toward a potential agreement that could be announced in the coming days.

TPG in talks to buy Netrality for up to $3bn. (Bloomberg)

TPG is in exclusive negotiations to acquire Netrality Data Centers, a data‑center operator backed by Macquarie Group.

The company could be valued at between $2bn and $3bn in a potential transaction. Discussions are ongoing and an agreement could be reached later this year.

Bain’s US Renal Care seeks to undo asset strip in rare debt move. (Bloomberg)

US Renal Care is seeking to refinance approximately $2bn of debt as portions of its existing borrowings approach maturity.

The Bain Capital‑backed dialysis services provider is marketing a refinancing package to investors that would offer creditors claims over assets previously removed from lender collateral pools during an earlier debt restructuring.

Brazil, South Korea agree to advance talks for Mercosur trade deal. (Reuters)

Brazil and South Korea have agreed to accelerate discussions on a potential trade agreement between South Korea and the Mercosur bloc.

The move forms part of broader efforts to expand trade and economic cooperation between the two regions and advance negotiations on a prospective commercial partnership involving Mercosur member states.

PetroChina is said to mull LNG Canada stake sale to fund growth. (Bloomberg)

PetroChina is evaluating options to sell part of its stake in LNG Canada Development as it seeks to fund a planned expansion of the liquefied natural gas project.

The company is exploring investor interest in its 15% holding, which could be valued in the billions of dollars. PetroChina may reduce its ownership through a series of transactions rather than a single sale.

Ares Management has held talks to acquire Leonard Green and Partners in a deal that would reshape mid-market private equity. (FT)

Ares Management has held discussions regarding a potential acquisition of private equity firm Leonard Green & Partners in a transaction that would significantly expand its private equity platform. The talks remain preliminary and there is no certainty that an agreement will be reached.

Leonard Green & Partners manages approximately $85bn in assets and focuses on investments across sectors including consumer, healthcare and business services. A combination would reflect ongoing consolidation in the alternative asset management industry as firms seek greater scale and diversification.

EMEA

AMG Critical Materials completes the acquisition of the remaining 71% stake in Zinnwald Lithium for $56m.

AMG Critical Materials, a global producer of critical materials and advanced metallurgical systems, completed the acquisition of the remaining 71% stake in Zinnwald Lithium, a lithium development company, for $56m, according to press releases.

AMG Critical was advised by Europa Partners (led by Jan Skarbek), De Brauw Blackstone Westbroek (led by Gaby Smeenk and Tijmen Klein Bronsvoort), Paul Weiss Rifkind Wharton & Garrison (led by David Lakhdhir, Matthew Hearn and Dan Schuster-Woldan) and Ulrich Stockheim Communications. Zinnwald Lithium was advised by Allenby Capital (led by David Hart) and St Brides Partners (led by Isabel de Salis), according to press releases and MergerLinks data.

Cinven and La Caisse to acquire Optio Group.

Cinven, a UK-based private equity firm, and La Caisse, a Canadian investment group and pension fund manager, agreed to acquire Optio Group, a specialty insurance managing general agent that originates, underwrites and manages specialty risks on behalf of third-party capacity providers, according to press releases. Financial terms were not disclosed.

Cinven is advised by Brunswick Group (led by Joanna Donne and Max McGahan), according to press releases. Optio Group is advised by Oliver Wyman, Chris Patrick Consulting, Evercore, PricewaterhouseCoopers and Skadden Arps Slate Meagher & Flom.

Kuwait Oil, Blackstone, Brookfield and KKR to form a $16bn joint venture.

Kuwait Oil, an upstream oil company, and Blackstone, Brookfield, KKR, agreed to form a $16bn joint venture. Kuwait Oil Company will retain a 51% stake, while Blackstone, Brookfield and KKR will collectively hold 49%, with each investor holding an equal one-third share of that interest on equal terms, according to press releases.

KKR is advised by Morgan Stanley. Kuwait Oil is advised by Centerview Partners, Hsbc and JP Morgan, according to MergerLinks data and press releases.

Galp completes the acquisition of a 361MW onshore wind portfolio from Acciona Energia in a €432m deal.

Galp, a Portugal-based integrated energy company, completed the acquisition of a 361MW onshore wind portfolio from Acciona Energia, a Spanish renewable energy company, in a €432m ($492m) deal, according to press releases.

Galp was advised by Credit Agricole and Clifford Chance. Acciona Energia was advised by BNP Paribas and Baker McKenzie, according to MergerLinks data and press releases.

Hellman & Friedman eyes €8bn stake sale for cloud software giant TeamSystem. (FT)

The private equity owners of TeamSystem are preparing to sell a minority stake in the Italian software company in a transaction that could value the business at approximately €8bn ($9.1bn).

Hellman & Friedman is working with advisers on the potential sale process. A transaction would provide a new valuation benchmark for the enterprise software sector and represent a significant liquidity event for the company's shareholders.

Ares bundles €3bn of private credit for secondaries sale. (Bloomberg)

Ares Management is preparing a transaction to sell approximately €3bn ($3.4bn) of limited partner interests in one of its European direct‑lending funds.

The proposed sale involves bundled stakes in Ares Capital Europe IV and is being marketed to credit secondaries investors. The transaction would rank among the largest secondary deals completed in the private credit market.

Italy's Sanlorenzo backs bid for embattled yacht maker Italian Sea Group. (Reuters)

Sanlorenzo has backed a consortium bid to acquire the business of Italian Sea Group as the yacht maker undergoes insolvency proceedings. Sanlorenzo also plans to take a minority stake in the acquisition vehicle.

Italian Sea Group is pursuing a court‑supervised restructuring process while maintaining operations. The proposed transaction is intended to preserve manufacturing activities and support the continuation of the business.

Paschi, BPM Advisers working on merger to foil Intesa’s bid. (Bloomberg)

Advisers to Banca Monte dei Paschi di Siena and Banco BPM are discussing a potential merger that could include a cash component, as consolidation activity in the Italian banking sector continues.

A transaction between the two banks could provide an alternative to Intesa Sanpaolo’s €35bn ($40bn) takeover proposal for Monte dei Paschi. Discussions remain ongoing and no agreement has been reached.

Angola raises $321m through nation’s biggest IPO. (Bloomberg)

Angola has raised AOA 300.3bn ($321m) through the sale of a 15% stake in state‑owned telecommunications operator Unitel SA, completing the country’s largest initial public offering to date.

The government sold 7.5m shares in the offering, which was oversubscribed by 21%. More than 11k investors participated in the transaction and became shareholders in the telecom company.

Oil startup backed by ex-Goldman commodity chief Currie to IPO. (Bloomberg)

1947 Oil & Gas is preparing an initial public offering in London to raise approximately £50m ($67m) to support the development of an oil and gas production platform in the Gulf of Mexico.

The company plans to offer shares at around 10 pence each ahead of a proposed listing on London's Alternative Investment Market. At the offer price, 1947 Oil & Gas would have an implied market capitalization of approximately £64m ($85m).

FIFA explores external investment with $20bn vehicle. (Bloomberg)

FIFA is exploring plans to raise up to $4.2bn from external investors through a new entity that would hold certain media and commercial rights.

The proposed vehicle, FIFA Forward Enterprise, is expected to attract investment from financial sponsors and growth investors. The initiative would represent the first time FIFA has sought external capital for part of its commercial operations.

APAC

Orient Securities to acquire Shanghai Securities for $3.71bn.

Orient Securities, a wealth and asset management company, agreed to acquire Shanghai Securities, a China-based securities company, for $3.71bn, according to press release.

Orient Securities is advised by Gram Capital, KPMG, Orient Capital and UBS, according to MergerLinks data and press releases.

CXMT IPO creates $192bn windfall for Chinese province. (Bloomberg)

Anhui province is set to benefit significantly from its investment in memory‑chipmaker CXMT following the company’s stock market debut in Shanghai.

Shares in CXMT rose more than 460% on their first day of trading, making the DRAM manufacturer one of China’s largest listed semiconductor companies and generating substantial gains for early investors, including local government‑backed entities.

SK Hynix slumps below US IPO price as mega-listings turn sour. (Bloomberg)

SK Hynix’s American depositary receipts fell below their July IPO price as investors reduced exposure to semiconductor stocks following a period of strong gains in the sector.

The securities declined to a record low after the company’s $26.5bn US market debut earlier this month, trading below the $149 offering price for the first time since listing.

Elevate Campuses said to launch $267m India IPO in August. (Bloomberg)

Elevate Campuses is preparing to launch an initial public offering valued at INR 25.55bn ($267m), potentially becoming India’s first listed student‑housing operator.

The Hillhouse‑backed company is conducting investor roadshows ahead of a planned share sale in August and is seeking a valuation of up to $1bn.

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