AMERICAS
WillScot, a warehousing and storage services company, agreed to merge with Mobile Mini, an American portable storage company based in Phoenix, Arizona, in a $6.6bn deal. Upon completion of the transaction, current WillScot and Mobile Mini stockholders will own 54% and 46% of the combined company, respectively. The transaction is expected to close in the third quarter of 2020.
"We are pleased to join forces with WillScot to offer customers the largest portfolio of modular space and portable storage solutions in North America. We look forward to working with the WillScot team to successfully integrate our great businesses and deliver strong, predictable growth and profitability to stockholders over the long term, all while maintaining our commitment to our culture and focus on customer service," Kelly Williams, Mobile Mini President and CEO.
Mobile Mini is advised by Barclays, Goldman Sachs and Davis Polk & Wardwell. Barclays and Goldman Sachs are advised by Sullivan & Cromwell. WillScot is advised by Bank of America Merrill Lynch, Deutsche Bank, JP Morgan, Morgan Stanley, Rothschild & Co, Stifel, Allen & Overy, Kirkland & Ellis and FTI Consulting. Morgan Stanley is advised by Weil Gotshal and Manges.
Gardner Denver, an American worldwide provider of industrial equipment, technologies and related parts and services, completed a merger with Ingersoll Rand's industrial segment in a $15bn deal. Upon the close of the transaction, existing Ingersoll Rand shareholders received 50.1% of the shares of the newly formed company on a fully diluted basis, valued at c. $5.8bn. Existing Gardner Denver shareholders retained 49.9% of the shares on a fully diluted basis.
“Today’s milestone transforms our potential to generate extraordinary long-term value for our employees, customers, shareholders and communities. Fueled by our employees’ ownership mindset, we operate from a customer-centric culture, as we know they lean on us to help make life better. We are enthusiastic that now, as a stronger company, we can deliver more comprehensive solutions and services across the globe,” Vicente Reynal, Ingersoll Rand CEO.
Ingersoll Rand was advised by Goldman Sachs, Lazard, Paul Weiss Rifkind Wharton & Garrison, Davis Polk, Arthur Cox and Kekst CNC. Gardner Denver was advised by Citigroup, Robert W. Baird, Simpson Thacher & Bartlett, Cyril Amarchand Mangaldas, Sard Verbinnen & Co and Kirkland & Ellis. Goldman Sachs was advised by Sullivan & Cromwell and Gibson Dunn & Crutcher.
Gilead, a research-based biopharmaceutical company, agreed to acquire Forty Seven, a clinical-stage immuno-oncology company that is developing therapies targeting cancer immune evasion pathways, for $4.9bn.
"This agreement builds on Gilead's presence in immuno-oncology and adds significant potential to our clinical pipeline. Magrolimab complements our existing work in haematology, adding a non-cell therapy program that complements Kite's pipeline of cell therapies for haematological cancers. With a profile that lends itself to combination therapies, magrolimab could potentially have transformative benefits for a range of tumour types. We are looking forward to working with the highly experienced team at Forty Seven to help patients with some of the most challenging forms of cancer," Daniel O'Day, Gilead Sciences Chairman and CEO.
Forty Seven is advised by Centerview Partners, Cooley, HDMZ and Stern IR. Gilead is advised by Citigroup, JP Morgan and Skadden Arps Slate Meagher & Flom.
Clarivate Analytics, an information services and analytics company, completed the acquisition of Decision Resources Group, a provider of high-value data, analytics and insights products and services to the healthcare industry, from Piramal Enterprises for $950m.
"We are excited to welcome DRG's colleagues to Clarivate and begin to roll out the many benefits of this acquisition to customers and colleagues alike. People are our only sustainable competitive advantage and both organizations are built on amazing people with deep industry, subject matter and technical expertise. We will move quickly and smoothly to integrate DRG with our Science Group. For customers, the combination of DRG's services and solutions with Clarivate's Life Sciences solutions, including Cortellis™, will help customers make smarter, faster evidence-based decisions to boost clinical and commercial success," Jerre Stead, Clarivate Executive Chairman and CEO.
Clarivate Analytics was advised by Evercore and Davis Polk & Wardwell. Piramal was advised by Covington & Burling. Evercore was advised by Ropes & Gray. Debt financing was provided by Citigroup and Goldman Sachs.
Palladium Equity Partners completed the acquisition of ALC Schools and Red Rock Technology, two mission-driven providers of alternative transportation solutions to school districts in the United States, from American Logistics. Financial terms were not disclosed.
"We are excited to partner with Palladium during our next phase of growth. We see significant opportunity to expand ALC's role in helping districts serve their special needs student populations with dependable, efficient and cost-effective transportation solutions," Gregg Prettyman, ALC COO.
Palladium was advised by BlackArch Partners, Morrison & Foerster, Paul Weiss Rifkind Wharton & Garrison and Kekst CNC. ALC was advised by Intrepid Investment Bankers and Morgan Lewis & Bockius.
KKR-backed BMC, a provider of IT solutions for the digital enterprise, agreed to acquire Compuware, a provider of mainframe application development, delivery, and support solutions, from Thoma Bravo. Financial terms were not disclosed.
"BMC continues to be focused on evolving and investing in our portfolio to address and even anticipate the needs of our customers, helping them to succeed today and into tomorrow. It's the ideal time to bring Compuware into our portfolio as the traditional mainframe AppDev market transitions to DevOps. We're excited to welcome the Compuware team as we build best-of-breed modern mainframe solutions," Ayman Sayed, BMC President and CEO.
KKR and BMC are advised by Jefferies & Company, Macquarie Group and Simpson Thacher & Bartlett. Compuware is advised by Credit Suisse and Kirkland & Ellis.
Intuit, the parent company of TurboTax, agreed to spend $7.1bn to buy Credit Karma last week. Several legal experts say the deal raises serious antitrust concerns, and see parallels to a 2011 attempt by H&R Block to acquire another DIY tax software company that regulators blocked.
Credit Karma is advised by Goldman Sachs, Skadden Arps Slate Meagher & Flom and Wilson Sonsini Goodrich & Rosati. Intuit is advised by Qatalyst Partners and Latham & Watkins.
Signify, a provider of lighting for professionals and consumers and lighting for the Internet of Things, completed the acquisition of Cooper Lighting Solutions, a provider of professional lighting, lighting controls, and connected lighting, from Eaton, an American multinational power management company, for $1.4bn.
"Today’s announcement confirms the strategic importance of the North American market for Signify. This acquisition will substantially strengthen our position in this attractive market. We look forward to welcoming the team from Cooper Lighting. They have built a high-performance company based on professionalism, truly innovative offers and a long and strong relationship with their customers. We share a genuine passion and single focus for Lighting and a successful track record in innovation. We will join forces to further develop connected lighting and provide our customers with the highest level of service while optimizing operational efficiencies," Eric Rondolat, Signify CEO.
Signify was advised by Sullivan & Cromwell. Eaton was advised by Goldman Sachs and Gibson Dunn & Crutcher.
Nicolet Bankshares, a growing, full-service, community bank, agreed to acquire Advantage Community Bancshares, the bank holding company of Advantage Community Bank. Financial terms were not disclosed.
"We continue to find great partners who want to get back to the heart of community banking. Banking is still a people-driven business and we have found experienced bankers at Advantage who have a solid reputation for serving their customers. When we combine Advantage with the commercial lenders we added in Wausau two months ago, we have a solid strategic hub in Central Wisconsin," Mike Daniels, Nicolet National Bank President and CEO.
Advantage Community Bancshares is advised by Wipfli Corporate Finance Advisors and Boardman & Clark. Nicolet is advised by Bryan Cave Leighton Paisner.
Kainos Group, a UK-based provider of digital services and platforms, agreed to acquire IntuitiveTEK, an advisor in the areas of financial consolidation, budgeting, planning, forecasting, reporting and accounting solutions. Financial terms were not disclosed.
"I am delighted to welcome the IntuitiveTEK team to Kainos, and into our ever-expanding Workday practice. The team's expertise, excellent reputation, and passion for building strong customer relationships aligns with our business, and we look forward to having them on board. As a leading Workday partner, we see this acquisition as an important step to deepen our expertise in Adaptive Insights Business Planning Cloud in the United States, where we continue to see growing demand from clients in modernizing their planning and financial management processes," Brendan Mooney, Kainos CEO.
Kainos is advised by Canaccord Genuity, Investec and FTI Consulting.
Anthem, a health benefits company, completed the acquisition of Beacon Health Options, the largest independently held behavioural health organization in the US, from Diamond Castle and Bain Capital. Financial terms were not disclosed.
"With an extensive track record in behavioural health, Beacon fits well with our strategy to better manage the needs of populations with chronic and complex conditions, and deliver integrated whole health solutions. Together with Beacon, we will enhance our capabilities to serve state partners, health plans and employer groups as they seek to address consumer behavioural health needs," Gail K. Boudreaux, Anthem President and CEO.
Anthem was advised by UBS. UBS was advised by Gibson Dunn & Crutcher.
AssetMark, a provider of extensive wealth management and technology solutions, completed the acquisition of OBS Financial, an asset management platform delivering academically constructed, structured investment strategies to independent advisors, bank Trust officers and their clients. Financial terms were not disclosed.
"This transaction will allow us to give our clients broad access to AssetMark's compelling and curated platform while providing continuity and support of the OBS investment portfolios, accelerating our ability to deliver the comprehensive capabilities to advisors and bank Trust officers who require and deserve these enhanced capabilities. The OBS team is looking forward to working closely with AssetMark to integrate our platforms and provide a market‐leading foundation that is proven to help advisors and Trust officers grow and prosper," John Henry, OBS President and CEO.
OBS was advised by ECHELON Partners. AssetMark was advised by Group Gordon.
Veritas Capital, a private investment firm, completed the acquisition of Campus Management, an educational software solutions provider, and Edcentric Holdings, a provider of institutional effectiveness software, from private equity firm Leeds Equity Partners. Financial terms were not disclosed.
"With differentiated platforms providing mission-critical software solutions, Campus Management and Edcentric are uniquely positioned to help higher education institutions increase operational efficiency, promote student success, and improve overall institutional effectiveness. We look forward to working in partnership with Leeds Equity and the management teams at Campus Management and Edcentric to support their long-term growth and continued development," Ramzi Musallam, Veritas CEO and Managing Partner.
Veritas Capital was advised by Sard Verbinnen & Co. Edcentric and Campus Management were advised by Raymond James.
Odyssey Investment Partners completed the acquisition of NSi Industries, a supplier of a wide variety of electrical connector, fitting, control and wire management products for construction, maintenance and repair applications, from Blue Sea Capital. Financial terms were not disclosed.
"We are excited to acquire NSi Industries with the company's management team. NSi has established a strong, incumbent market position and a comprehensive offering of stock and flow products in a large, fragmented industry. We look forward to collaborating with G. R., Dave and their team to capitalize on NSi's many attractive and diverse growth opportunities to build value for all of its stakeholders," Jason Cowett, Odyssey Managing Principal.
Odyssey was advised by Kekst CNC.
Mill Point-backed Aero Snow, a provider of diversified municipal and facility maintenance services, agreed to acquire Tovar Snow Professionals, a provider of commercial snowplowing services. Financial terms were not disclosed.
“Together, our presence will be much larger with an enhanced infrastructure that provides us with additional resources to uphold our ice and snow management services that we know are mission critical for our customers,” Daryl Hendricks, Aero Snow CEO.
Aero Snow is advised by CashmanKatz.
Eneva, a Brazilian power generation company, offered to merge with AES Tiete, a power generation company, in a $1.5bn deal.
“The two companies have complementary portfolios. The combination of Eneva's assets and AES's Tietê would result in a diversified and balanced platform of essential assets to meet the growth and energy demand in Brazil. The combined company would add all the skills necessary for the development of new competitive projects that serve the market,” Pedro Zinner, Eneva President.
SK Siltron, the semiconductor wafer unit of SK Group, completed the acquisition of DuPont's wafer business for $450m. Through this acquisition, SK Siltron, based in Gumi, South Korea, is expected to maximize its R&D and production capabilities and synergy between its current major businesses, while securing new growth engines by entering rapidly expanding areas.
"The acquisition clearly shows our strong willingness to nurture semiconductor business and create significant synergy within the group, including SK Innovation's EV battery business, due to the wafer boom," an SK Siltron official.
IDEX, a global fluidics company, completed the acquisition of Flow Management Devices, a privately-held provider of flow measurement systems, for $125m.
"Adding Flow MD to the IDEX family of businesses will extend our expertise in providing highly-engineered solutions to energy customers, including refineries, chemical manufacturers and pipeline operators. In our unique structure, companies retain a great deal of autonomy, while benefitting from the expertise and operating model at IDEX. Flow MD should flourish as part of our culture, where great teams win together by focusing on the things that matter most, combined with an obsession for solving our customers' most challenging problems," Andy Silvernail, IDEX Chairman and CEO.
HUB International, a global insurance brokerage, agreed to acquire the Benefits Consulting Practice of Morneau Shepell, a provider of integrated HR solutions, for $70m.
"After a comprehensive review, we made the decision to divest our benefits consulting practice. We are very focused on our growth strategy, which includes being clear market leaders in the businesses in which we operate, owning the total well-being space, accelerating growth through geographic expansion and leveraging technology to deliver a seamless experience for our clients and their employees. The benefits consulting business is a strong, profitable asset and a great fit for Hub. Hub is focused on the benefits consulting space, which makes it a perfect home for this business. The benefits consulting business is core for them, and in their hands has more potential upside and opportunity to grow," Stephen Liptrap, Morneau Shepell President and CEO.
Odyssey-backed Aero Precision, a military aviation aftermarket distributor, completed the acquisition of Kellstrom Defense, an aftermarket sustainment solutions provider. Financial terms were not disclosed.
"The combination of Aero Precision and Kellstrom Defense's aftermarket solutions and expanded global channel will ensure our government and military aviation customers worldwide receive improved mission readiness through ample support capabilities. We look forward to a rapid integration of the business teams and are working to exceed customer expectations in the coming months," Chris Celtruda, Kellstrom Defense CEO.
Cushman & Wakefield, a global real estate services firm, completed the acquisition of Pinnacle Property Management Services, the third-largest multifamily property management firm in the US. Financial terms were not disclosed.
“We are excited to continue our commitment to delivering exceptional value to our clients as part of Cushman & Wakefield. Our aligned client-centric focus and combined strength in people, resources and client relationships presents growth opportunities for all involved in the acquisition,” Rick Graf, Pinnacle President & CEO.
Moody's, a global integrated risk assessment firm, completed the acquisition of RBA International, a provider of online retail bank training and certifications, from Parabellum Investments, a privately-owned international investment firm. Financial terms were not disclosed.
"RBA was founded to strengthen the status of retail bankers as internationally recognized professionals. We look forward to working as a part of MA to help clients enrich and modernize their skillsets to reflect the dynamic shifts occurring in the retail banking sector," Evelyn Hunter, RBA Director.
Warner Music and Cole Haan delay IPOs amid coronavirus fears.
Warner Music Group and Cole Haan abandoned plans to kick off their initial public offerings early this week, making them the most high-profile financial casualties of the coronavirus outbreak among US companies pursuing stock market debuts, Reuters reported.
The companies made the decision after the S&P 500 Index lost close to 12% of its value last week, the fastest such correction on record. Such volatility makes it difficult for IPO underwriters to find steady demand for a company’s shares.
Citgo, Aruba reach deal to transfer control of refinery to island government.
US refiner Citgo reached an agreement with Aruba to transfer control of the San Nicolas refinery to the island’s government, after the two parties last year suspended a contract to overhaul the facility.
Citgo, a unit of Venezuelan state oil company Petroleos de Venezuela, has been under the control of the South American country’s opposition for more than a year after Washington slapped sanctions on PDVSA in a bid to oust socialist President Nicolas Maduro.
Blackstone’s top three get $803m pay, dividends in 2019. (FS, People)
Blackstone Group co-founder Steve Schwarzman and his top two executives collected a combined $803m in compensation and dividends last year.
Schwarzman’s haul consisted of $452m in dividends and around $53m in carried interest, Bloomberg reported. The rest came in salary, equity awards and company-paid expenses for personal security. His total figure dropped 10% from the prior year because of smaller dividends.Jonathan Gray, the firm’s president and chief operating officer, collected $181m. Tony James, the firm’s vice chairman, got $112m. The figures include pay and dividends.
EMEA
Insight Partners, a private equity firm, completed the acquisition of Veeam Software, an information technology company that develops backup, disaster recovery and intelligent data management software, for $5bn.
"Insight has been a trusted partner since 2013 when they made their first minority-stake investment in Veeam. They are known for taking high-growth international companies and driving their success in the US market, where they can add invaluable resources, support and expertise. Veeam is positioned extremely well in the market and Insight is the right partner to help us achieve the next level of growth for our Act II, evolution into Hybrid Cloud, and the right time starts today," Bill Largent, Veeam CEO.
Veeam was advised by Ropes & Gray. Insight Partners was advised by Goldman Sachs, JP Morgan, Morgan Stanley and Willkie Farr & Gallagher. Debt financing was provided by Antares Capital, Ares Management, Bank of America Merrill Lynch, Goldman Sachs, Golub Capital, JP Morgan and Morgan Stanley.
Thoma Bravo, a private equity firm, completed the acquisition of Sophos Group, a cloud-enabled next-generation cybersecurity firm, for $3.8bn. The acquisition price represented a premium of approximately 37.1% to the closing price per Sophos share on 11 October 2019.
"Today marks an exciting milestone in the ongoing journey of Sophos. Sophos is actively driving the transition in next-generation cybersecurity solutions, leveraging advanced capabilities in cloud, machine learning, APIs, automation, managed threat response, and more. We continue to execute a highly-effective and differentiated strategy, and we see this offer as a compelling validation of Sophos, its position in the industry and its progress," Kris Hagerman, Sophos CEO.
Sophos was advised by JP Morgan, UBS, Lazard, Skadden Arps Slate Meagher & Flom, Slaughter & May, March Communications and Tulchan Communications. Thoma Bravo was advised by Goldman Sachs, Kirkland & Ellis, Ashurst and Finsbury. Apax Partners was advised by Clifford Chance.
Bloomberg reported that a capital gains tax claim for about $500m is holding up Total’s acquisition of Occidental Petroleum’s assets in Ghana. Occidental is seeking regulatory clearance for the deal and the tax bill is among matters still to be resolved. Houston-based Occidental agreed to offload to the French supermajor the African projects acquired in its $37bn takeover of Anadarko Petroleum in August.
While Ghana and Occidental have not reached an agreement on the tax bill yet, the government expects that the matter will be finalized soon. Ghana’s tax authority estimates Anadarko will make $2.5bn in capital gains from the sale of the assets.
Anadarko is advised by Bank of America Merrill Lynch, Citigroup, MacKenzie Partners, Cravath Swaine & Moore, Freshfields Bruckhaus Deringer, Weil Gotshal and Manges and Brunswick Group. Total is advised by Ernst & Young, Lazard and Weil Gotshal and Manges.
JF Lehman, a middle-market private equity firm, completed the acquisition of Global Marine Group, a provider of subsea cable maintenance and installation services. Financial terms were not disclosed.
"I believe JFLCO is an excellent partner for GMG to help facilitate the next phase of our growth. Together with Ian Douglas, CEO of GMG, and the rest of the Global Marine Group management team, we look forward to leveraging JFLCO's extensive maritime experience and considerable capital base in further developing GMG's core business in the telecommunication and offshore wind markets," Dick Fagerstal, Global Marine Group Chairman.
Global Marine Group was advised by ABN Amro, Deutsche Bank and Hogan Lovells. JF Lehman was advised by Winchester Capital, Blank Rome and Jones Day. Debt financing was provided by Deutsche Bank.
MASMOVIL Group, the fourth largest converging telecommunications operator in Spain, agreed to acquire the Spanish unit of Lycamobile, a mobile virtual network operator operating in 23 countries, for €372m ($410m).
"We are very pleased to incorporate Lyca into our Group as it fits perfectly into our commercial strategy. We will continue to work on creating value for our customers and for the telecommunications market. We welcome Lyca's clients and I hope that they will soon be able to enjoy the advantages of belonging to MASMOVIL Group", Meinrad Spenger, MASMOVIL CEO.
MASMOVIL Group is advised by BNP Paribas, Ernst & Young and Perez-Llorca. Lycamobile is advised by Macfarlanes.
Avery Dennison, a global materials science and manufacturing company, completed the acquisition of Smartrac RFID Inlay division, a developer and manufacturer of RFID products, for $249m.
"This acquisition reflects a continuation of our strategy to invest, both organically and through M&A, to shift our portfolio towards faster growing, higher-value categories. Smartrac's Transponder Division represents an excellent strategic fit for us, accelerating our strategy to expand our Intelligent Labels platform across a variety of end markets and customers within the industrial and retail segments, and extending our reach to new channels," Mitch Butier, Avery Dennison Chairman, President and CEO.
Gimv, a Belgian investment company, completed the investment in Applied Micro Electronics, a developer and manufacturer of innovative, high-quality and smart electronic modules for international OEM customers. Financial terms were not disclosed.
"Gimv is the right partner for AME to make our growth ambitions come true. They fully underline and support our business strategy and philosophy. With Gimv we will be able to invest further in our technical capabilities and our industrial facilities. Expanding our activities globally to support our customers locally can now be put on our management agenda. I fully believe that the partnership with Gimv is a major step forward for AME and will enable us to enhance the support and service to our valued customers," Gerrit van der Beek, AME CEO.
Just Eat Takeaway takes action against Delivery Hero over stake.
Online food delivery company Just Eat Takeaway started arbitration proceedings against a move by rival Delivery Hero to increase its stake in the company because it said it broke a standstill undertaking.
German-based Delivery Hero last month entered into an agreement to acquire 8.4m shares in Just Eat Takeaway for €798m ($881m), financed by a multi-year equity collar transaction, which included about 400k shares it acquired when it sold its German food delivery businesses to Takeway.com last year.
NMC Health hires Moelis for debt restructuring. (FS)
NMC Health, the UAE healthcare company, hired Moelis & Co to advise on a debt restructuring, Reuters reported.
Britain’s Financial Conduct Authority said it would investigate the finances of NMC Health, whose shares were suspended on the London Stock Exchange last week.
Advent International hires head of European retail team. (FS, People)
Advent International hired Nicolas Chavanne from TowerBrook Capital Partners to head up its European retail, consumer and leisure team.
Chavanne, who will take on the role of managing director, has more than 14 years’ experience. Prior to TowerBrook, he worked at investment bank Greenhill.
APAC
According to a Reuters report, Caltex Australia said that the $2.6bn proposal from Britain's EG Group undervalued the company but that it was open to more talks for a potential transaction. The offer came just days after Canada's Alimentation Couche-Tard's twice-improved $5.7bn bid.
The takeover tussle comes as Caltex works to boost margins from its refining business and its fuel and convenience store businesses while planning a public listing of a property trust with around 250 of its petrol station sites.
Caltex Australia is advised by Grant Samuel, UBS and Herbert Smith Freehills. EG Group is advised by Jefferies & Company and Allen & Overy. Alimentation Couche-Tard is advised by Goldman Sachs, Allens and Domestique.
Private equity firm Anchorage Capital agreed to acquire AHG Refrigerated Logistics, the refrigerated logistics division of Australian automotive retail and logistics firm Automotive Holdings Group, from AP Eagers, Australia's oldest listed automotive retail group, for $65m.
"The sale of AHG Refrigerated Logistics is consistent with our strategy to focus on our core automotive retailing business. The transaction follows an extensive sale process to find a buyer for the Refrigerated Logistics business on the optimal price and terms," Martin Ward, AP Eagers CEO and Managing Director.
AP Eagers and AHG are advised by Luminis Partners, UBS, Ashurst and Domestique.
HOPE Education Group, an investment holding company which mainly provides higher education services, agreed to acquire a 62% stake in INTI Education Group, which operates private university colleges located in Malaysia, from Laureate Education, a US-based education company, for $140m.
"We're proud of what INTI Education Group has achieved since joining the Laureate network in 2008. Together, we've provided students with a quality learning experience that helps make them highly employable in today's global jobs market. Under the stewardship of HOPE Education Group, I believe INTI will continue to deliver strong outcomes and high student satisfaction," Eilif Serck-Hanssen, Laureate President and CEO.
Laureate Education is advised by Rothschild & Co and DLA Piper.
Shinmei Holdings, a rice wholesale conglomerate, agreed to acquire Meisui Bijin Factory, a bean sprouts manufacturer in Japan, from The Carlyle Group. Financial terms were not disclosed.
"We have been delighted to partner with Meisui Bijin Factory over the past four years, and feel great pride on the transformation and resulting value creation that we have collectively achieved within the business. We believe Meisui Bijin Factory's new partnership with Shinmei will help the company to further build on its position as the leading bean sprouts and pre-cut vegetables business in Japan," Yusuke Watanabe, Carlyle Managing Director.
The Carlyle Group is advised by Mitsubishi UFJ Financial Group and Nishimura & Asahi.
BluJay Solutions, a global provider of supply chain applications, networks, and data solutions, completed the acquisition of Expedient Software, a provider of customs and forwarding software for the logistics market in Australia and New Zealand. Financial terms were not disclosed.
"We continue to strategically invest in technologies that enable frictionless supply chains for our customers. As a major player in the Australian customs and forwarding market, Expedient brings highly complementary technology to BluJay's portfolio, along with a knowledgeable team to bolster our presence and expertise in the Asia-Pacific market," Andrew Kirkwood, BluJay Solutions CEO.
BluJay Solutions was advised by Lewis.
Accenture, an Irish-domiciled multinational professional services company, completed the acquisition of AlphaBeta Advisors, a privately held Australian consultancy that combines business strategy, data analytics and econometrics. Financial terms were not disclosed.
"Following a period of rapid growth, we are ready to take our business to the next level. By joining forces and combining our data-led advisory services with Accenture's world-class strategy capabilities, we will be best positioned to guide clients on the journey from strategy through to execution," Andrew Charlton, AlphaBeta Advisors Founder and Director.
GIC and ADIA consider investing in Prestige Estates. (FS)
Singapore's sovereign wealth fund GIC, Qatar Investment Authority and Abu Dhabi Investment Authority are in talks to invest about $400m in Bengaluru-based real estate developer Prestige Estates.
GIC, which holds about 9% stake in Prestige, is most likely to participate in the funding. The sovereign fund increased its stake in Prestige Estates last month through a preferential issue of equity shares.
Trafigura reaches deal to buy and sell Puma Energy stake.
FT reported that commodity trader Trafigura reached an agreement to buy and then sell a stake in Puma Energy, a Singaporean multinational mid- and downstream oil company, from a retired Angolan general, aiding the efforts of the debt-laden fuel supplier to attract more lenders and investors.
Under a complex deal announced on Monday, Cochan Holdings, an investment vehicle controlled by Leopoldino Fragoso do Nascimento — widely known as "General Dino" — will reduce its stake in Puma from 15% to less than 5%. Trafigura, which already owns 49% of Puma, will buy the shares from Cochan and immediately sell them back to Puma.
TCC Group to fund bid for Tesco assets with $10bn loan.
Tycoon Charoen Sirivadhanabhakdi’s TCC Group will fund its bid for Tesco’s Asian business with a $10bn two-year loan, Bloomberg reported.
If TCC Group wins the bid and the loan is drawn, it would be among the largest corporate financings on record for Thailand. It would compare with a $6bn bridge loan that backed Charoen Pokphand Group’s $6.6bn acquisition of discount retailer Siam Makro in 2013.
Creador-backed Mr DIY mulls delaying Malaysian IPO.
Mr DIY Group, Malaysia’s biggest home improvement retailer, is considering postponing its planned initial public offering after the country’s equities market tumbled on political uncertainty, DealStreetAsia reported.
The company will make a decision on the share sale plan as soon as this week. The retailer initially planned to start the IPO at the end of this month, with a target to raise about $500m.
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