EvoNext Holdings SA said Monday that it has agreed to merge with Ascend Sport Technology AG in a deal which values the sports technology company at 500 million Swiss francs ($615 million) and would take it public in Switzerland.
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TOP NEWS

Swiss Cos. In Merger To Take $615M Sports Tech Biz Public

By Dawood Fakhir

EvoNext Holdings SA said Monday that it has agreed to merge with Ascend Sport Technology AG in a deal which values the sports technology company at 500 million Swiss francs ($615 million) and would take it public in Switzerland.

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Goodwin Procter-Led Biotech Completes €30M Acquisition

By Irene Madongo

Paris-listed Valerio Therapeutics said Monday it has completed its acquisition of Belgian vaccines technology company Etherna in a cash and shares transaction worth approximately €30 million ($33.5 million).

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Billionaire's Family Office Seeks $150M Over Alleged FX Fraud

By Eddie Beaver

The investment arm of Egyptian billionaire Naguib Sawiris' family told a London court Monday that it is owed approximately $150 million after it was duped into pouring millions into a foreign exchange business that was secretly controlled by outsiders using it to "milk" fees.

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M&A

Brief

Leak Detection Co. To Buy Back Alabama Franchise For $4.7M

By Dawood Fakhir

Water Intelligence said Monday it is buying back the southern Alabama franchise of its American Leak Detection subsidiary for $4.7 million, bringing the operation under direct corporate ownership.

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CAPITAL MARKETS

Brief

Investor Seraphim Discloses $23M Backing For Tech Biz Skylo

By Irene Madongo

Seraphim, an investor in communications technology with a listing in London, said Monday that it has invested an additional $23.1 million in its U.S. portfolio company Skylo Technologies.

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Brief

Aerospace Drilling Biz Tek4 To Float On AIM

By Irene Madongo

British aerospace drilling company Tek4 plans to begin trading its shares on London's Alternative Investment Market, according to its preadmission document published Monday.

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PENSIONS

Pension Risk Transfers Fuel Member Complaints, Survey Says

By Dawood Fakhir

More than half of pension industry professionals have faced complaints or queries from pension scheme members during or after risk-transfer transactions, pensions firm Sacker & Partners LLP said Monday.

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LITIGATION

Shareholders Seek £9.6M Earn-Out Payments From Debt Biz  

By Joel Poultney

A group of 38 shareholders in decarbonization specialist Vortex has sued the Marston Group for around £9.6 million ($12.7 million), after the debt agency allegedly failed to make performance-linked payments following its acquisition of the U.K.-based technology business.

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LAW FIRMS IN TODAY'S NEWS

Brick Court Chambers

CMS Cameron McKenna Nabarro Olswang

Gatehouse Chambers

Goodwin Procter

Jenner & Block

Nabarro LLP

Reynolds Porter

Stokoe Partnership Solicitors

Winston Taylor

COMPANIES IN TODAY'S NEWS

American Leak Detection

Deloitte Touche Tohmatsu Ltd.

Federation Internationale de Football Association

London Stock Exchange Group PLC

SIX Swiss Exchange

Xona Space Systems Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

UK High Court