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Transactions UK
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September 27, 2024
Advil Owner Haleon Paying $637M To Up Stake In China JV
British consumer healthcare giant Haleon plc said Friday that it has agreed to pay the equivalent of roughly $637 million to increase its stake in a Chinese joint venture, Tianjin TSKF Pharmaceutical Co., from 55% to 88%.
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September 27, 2024
Infrastructure Investor Sells Stake In US Assets For £30M
Infrastructure investment company International Public Partnerships said Friday that it has partially sold its investment in a public-private partnership housing scheme in the U.S., raising £30 million ($40 million) in the process.
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September 27, 2024
Real Estate Debt Investor To Launch £10M Share Buyback
Real Estate Credit Investments Ltd. said Friday it plans to roll out a share buyback of up to £10 million ($13.4 million) in a move expected to lower its outstanding share capital.
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September 27, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Coca-Cola bring a trademark infringement claim against its former marketing director, Glencore face legal action by American Century ETF Trust, law firm Bishop Lloyd & Jackson defend itself against two solicitors it worked alongside during inquiries into Grenfell Tower, and a U.K. cruise line face a claim by a subsidiary of the sanctioned gambling platform GTLK.
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September 27, 2024
Abrdn Property To Sell £351M Portfolio To Travelodge Owner
Abrdn Property Income Trust said Friday that it has agreed to sell one of its subsidiaries that owns a portfolio of 39 properties to the owner of Travelodge for £351 million ($470 million) as it moves to a controlled wind-down.
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September 27, 2024
UK Tagging Biz To Reward Shareholders With £6M Buyback
Big Technologies PLC launched on Friday its debut share repurchase program worth up to £5.9 million ($7.9 million) aimed at rewarding shareholders, days after the people tagging business reported a dip in revenue.
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September 27, 2024
UK Drops Probe Into Amazon's $4B AI Investment
The Competition and Markets Authority dropped its formal probe on Friday into Amazon's $4 billion investment in Anthropic, a U.S. artificial intelligence startup, after it found that the companies do not hit thresholds for investigation in Britain.
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September 27, 2024
Murdoch's REA Group Logs 4th Offer For Rightmove At £6.2B
Rupert Murdoch's REA Group said Friday that it has tabled a fourth potential offer of £6.2 billion ($8.3 billion) for Rightmove PLC as the board of the British property business continues to refuse to engage with the publisher's real estate advertising company.
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September 26, 2024
VivoPower Keeps HQ In UK To Qualify For $21B Gov't Program
Sustainable energy solutions company VivoPower International PLC and hydrogen technology business Future Automotive Solutions and Technologies on Thursday outlined additional terms to their proposed $1.13 billion merger, including settling the combined company's headquarters in the U.K. in order to qualify for potential "significant and attractive" government incentives.
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September 26, 2024
Qualcomm Eyes Massive Buyout Of Intel, Plus Other Rumors
Qualcomm has approached struggling rival Intel with a takeover offer, Chevron's $53 billion acquisition proposal for Hess is expected to win regulatory clearance, and private Equity Firm BC Partners wants to buy a minority stake in EuroLeague. Here, Law360 breaks down these and other notable deal rumors from the past week.
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September 26, 2024
Swedish Retail Giant H&M Launches $100M Share Buyback
H&M kicked off a share buyback worth up to 1 billion Swedish kronor ($100 million) on Thursday as the Swedish retail giant looks to reward investors and lower its share capital.
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September 26, 2024
Sanctioned Billionaire Beats Claim Over $1B PhosAgro Stake
A Russian oligarch has lost his case accusing a former friend of unlawfully taking away his stake in a £3.7 billion ($5 billion) fertilizer business, as a London court found on Thursday that his claim to have been granted the share in a handshake agreement was implausible.
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September 26, 2024
Eversheds-Led Insurer Strikes 3rd Reinsurance Deal In UK
Global life insurance group Resolution Life said Thursday that it has completed its third reinsurance transaction in the U.K. in a deal guided by Eversheds Sutherland, bringing the total liabilities that it manages in the country to $3.5 billion.
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September 26, 2024
Tech Biz Touchstar Contemplates Sale Amid Falling Profits
Touchstar PLC said Thursday that its board has initiated a strategic review of the business to identify "the optimal path for future growth and value creation," which could include a potential sale of the London-listed industrial data collection technology company.
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September 26, 2024
Tereos Fined For Disclosure Failings During Merger Review
Britain's antitrust enforcer said Thursday that it has fined conglomerate Tereos for failing to provide information during its probe into the planned purchase of its U.K. business by food company Tate & Lyle.
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September 26, 2024
Swedish Shopfitter ITAB Raises $86M Through Share Issue
ITAB Shop Concept AB of Sweden said Thursday that it has raised 867 million Swedish kronor ($86 million) through the sale of new shares to institutional investors to help fund its acquisition of French rival Financière HMY.
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September 26, 2024
National Grid Completes Sale Of UK Gas Network Stake
National Grid PLC said Thursday that it has completed the sale of its last 20% holding in the British gas network to a consortium of investors led by Australian banking group Macquarie Asset Management in a deal guided by Linklaters and White & Case.
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September 25, 2024
EU States Must Unify Divergent Biz Rules, Majority Says
The European Union must double down on unifying its divergent rules for businesses in a policy proposal next year because the bloc's main competitive advantage is its single market, almost three-quarters of EU countries told the bloc's executive arm.
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September 25, 2024
Fintech IG Begins 2nd Tranche Of £150M Share Buyback
IG Group Holdings PLC on Wednesday rolled out an up to £75 million ($101 million) share buyback, the second part of the fintech's £150 million stock repurchase program aimed at lowering its share capital.
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September 25, 2024
Rightmove Rejects £6.1B Offer By Murdoch's REA Group
Rightmove PLC said Wednesday that it has rejected the latest proposed offer of £6.1 billion ($8.1 billion) from Australian online property advertising business REA Group Ltd., dismissing the approach by business magnate Rupert Murdoch's company for the third time.
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September 25, 2024
Smaller UK Pension Deals Behind Record Numbers In 2024
Smaller pension deals worth less than £100 million ($133.7 million) drove the "staggering" number of retirement savings de-risking transactions penned in the first half of the year, Lane Clark & Peacock LLP said Wednesday.
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September 25, 2024
Wholesaler Kitwave Raises £31.5M To Fund Takeover Deal
North England-based Kitwave Group PLC said Wednesday it has successfully raised about £31.5 million ($42.2 million) by issuing shares to investors, funds it will channel toward its acquisition of a food wholesaler in the South for up to £70 million.
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September 25, 2024
UniCredit To Base Bigger Commerzbank Stake On Benefits
The chief executive of UniCredit said Wednesday that his Italian bank is considering a further increase to its 21% stake in Commerzbank but would take the step only on terms that are beneficial for shareholders and clients of both lenders.
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September 25, 2024
Jones Day Leads Orange Telecoms On Exit From NYSE Listing
French telecommunications giant Orange SA said Wednesday that it plans to quit the New York Stock Exchange, citing the "significant financial and administrative requirements" of the listing.
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September 25, 2024
Property Investment Trust Buys £78M UK Logistics Portfolio
Real estate investment trust LondonMetric Property PLC said on Wednesday that it has bought six warehouses for £78 million ($104 million) from a pension fund listed on the London Stock Exchange.