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Transactions UK
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July 19, 2024
UK Clears Roche's $295M Purchase Of Diagnostics Biz
The U.K. antitrust watchdog said Friday that it has cleared a $295 million proposed purchase by Swiss drugmaker Roche of parts of diagnostic company LumiraDx.
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July 19, 2024
Casino Group Faces French Price-Fixing Probe
Casino Group, the French retail giant that has recently undergone a restructuring, said it is being investigated by France's financial crime agency for possible price manipulation and corruption.
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July 18, 2024
Deals Rumor Mill: Google, StandardAero, Sony
Google parent Alphabet is nearing a $23 billion Wiz buy, PE firms circle StandardAero at a potential $10 billion price, and Sony backs away from Paramount after the Skydance deal. Law360 breaks down these and other notable deal rumors from the past week.
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July 18, 2024
PE Firm's £432M Deal Awaiting NSIA Clearance Pushed Back
Wealth management firm Mattioli Woods said Thursday that its approximately £432 million ($546 million) acquisition by London private equity firm Pollen Street Capital that is awaiting national security clearance is now likely to close a month later than expected.
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July 18, 2024
Octopus Renewables To Sell Swedish Wind Farm For €74M
Octopus Renewables Infrastructure Trust PLC said Thursday that it has agreed to sell a wind farm in Sweden to a German institutional investor for approximately €74 million ($81 million) to release cash that will be used to reduce debt.
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July 18, 2024
Cleary-Led Blank-Check Co. To Buy Turkish Mine For $290M
ACG Acquisition Co. Ltd. said on Thursday that it has agreed to buy a precious metal mine in Turkey from a subsidiary of Çalık Holding, an Istanbul-based conglomerate, for $290 million.
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July 18, 2024
Finnish Energy Co. To Sell Recycling Biz To PE Summa Equity
Finnish state-owned energy company Fortum said on Thursday that it will sell its recycling and waste business to private equity firm Summa Equity for €800 million ($875 million).
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July 18, 2024
Tycoon Commits To 6-Day Service After Royal Mail Takeover
The billionaire who has made a £3.57 billion ($4.64 billion) cash offer to buy Britain's national postal service said Thursday that he has committed to delivering letters across the U.K. six days a week if his bid succeeds.
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July 18, 2024
Sidley-Led Medical Co. To Buy Clinical AI Biz For £40M
GE HealthCare, a U.S. medical multinational, said on Thursday that it has agreed to buy the clinical artificial intelligence business of U.K. software company Intelligent Ultrasound Group PLC, and other related assets, for £40.5 million ($52.6 million).
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July 17, 2024
Outsourcer Mitie Acquires ESM Power For Up To £8.5M
Mitie Group PLC said Wednesday it has agreed to buy electrical engineering firm ESM Power for up to £8.5 million ($11.1 million), a move it expects will bolster its power projects business.
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July 17, 2024
TotalEnergies Sells Stake In Nigerian JV For $860M
French fuel company TotalEnergies SE said Wednesday that it has agreed to sell its stake in SPDC JV licenses in Nigeria to Mauritius-based Chappal Energies for $860 million.
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July 17, 2024
Shipping Investor Tufton To Redeem $31.5M Worth Of Shares
Investment business Tufton Oceanic Assets Ltd. on Wednesday confirmed plans to return up to $31.5 million to investors through compulsory share repurchases using proceeds from the sale of two tankers.
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July 17, 2024
Engineer Smiths Sells Shares In US Medical Biz For $152M
Smiths Group PLC said on Wednesday that it has sold a stake in ICU Medical Inc., which makes protective items for the healthcare sector, for roughly $152 million with the U.K. engineering business saying it will use the proceeds "for general corporate purposes."
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July 17, 2024
Lathams Leads EssilorLuxottica's $1.5B Streetwear Brand Buy
Italian-French eyewear giant EssilorLuxottica said Wednesday that it will buy U.S. urban fashion brand Supreme for $1.5 billion in cash from VF Corp.
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July 17, 2024
Investor Auréa To Buy Body Shop Out Of Administration
Beauty investment company Auréa Group has signed an agreement to buy The Body Shop International Ltd. out of administration, the companies said on Wednesday.
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July 17, 2024
Allianz Bids $1.6B For Singapore's Income Insurance
Allianz SE said on Wednesday it has made an all-cash offer to buy a majority stake in Singapore-based insurer Income Insurance Ltd. for 2.2 billion Singapore dollars ($1.64 billion), as the German financial services company seeks to expand its presence in Asia.
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July 16, 2024
UK's Probe Of Microsoft-Inflection AI Deal Moves Ahead
The U.K.'s antitrust enforcer launched a formal merger inquiry on Tuesday into Microsoft Corp.'s relationship with Inflection AI after asking for public input earlier this year on several artificial intelligence investments made by Microsoft and Amazon.
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July 16, 2024
Labour Government Urged To Introduce Green Tax Credits
The new Labour government should introduce tax credits for businesses investing in green energy technology, according to a tax expert from the Confederation of British Industry.
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July 16, 2024
Financial Intel Firm To Buy Fund Ratings Biz RSMR
Fintel PLC said Tuesday it has conditionally bought Rayner Spencer Mills Research Ltd. for an undisclosed amount of money, making the purchase of the fund ratings and research agency its ninth acquisition in 12 months.
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July 16, 2024
Apax Completes Sale Of Internet Group Baltic
The Apax IX Fund, in which Guernsey-based, closed-ended investment company Apax Global Alpha Ltd. is a limited partner, said Tuesday it has sold its remaining shares in Baltic Classifieds Group, a Lithuanian internet service provider.
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July 16, 2024
Precision Tools Supplier To Buy US Rival For Up To $683M
Spectris said Tuesday that it has agreed to buy rival U.S.-based Micromeritics in a deal worth up to $683 million as the British precision tools supplier looks to improve its advanced materials analysis division and grow into the clean technology sector.
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July 16, 2024
Troubled REIT To Wind Down Amid £115M Debt Pile
A struggling investment trust said Tuesday that it will wind down as it grapples with a £115 million ($149 million) burden of debt, an investigation by the Financial Conduct Authority and potential group litigation.
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July 16, 2024
PE Firm Sells 3% Stake In Trustpilot For £27.5M
Private equity shop Vitruvian Partners LLP said on Tuesday that it has sold a 3% stake in Danish review website Trustpilot for £27.5 million ($35.7 million).
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July 16, 2024
Top UK Court Rules Deal Advice Fees Are Not Tax Deductible
Britain's Supreme Court ruled Tuesday that £2.5 million ($3.2 million) paid in advisory fees by an investment company to Deutsche Bank and others is not tax-deductible as the expenses were "capital in nature" spent trying to dispose of a Dutch business.
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July 15, 2024
Biotech Firm Destiny To Delist From AIM
Destiny Pharma PLC on Monday proposed quitting London's alternative investment market to go private, saying doing so gives it a better chance of raising funds for developing its key drug program than as a public business.