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Transactions UK
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August 16, 2024
SPAC Confirms Delisting From LSE After $1.85B Takeover
A London-listed blank check company said Friday that it will be delisting its shares from the London Stock Exchange on Aug. 19 after its $1.85 billion acquisition of U.S.-based Acuren completed in less than 15 months after floating publicly.
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August 16, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Barry Manilow sued by music rights company Hipgnosis, a struck-off immigration lawyer take on the Solicitor's Disciplinary Tribunal and the former CEO of a collapsed bridging loan firm start proceedings against the FCA. Here, Law360 looks at these and other new claims in the U.K.
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August 16, 2024
Specialist Lender OSB Announces New £50M Share Buyback
OSB Group PLC said it will roll out a share repurchase program worth up to £50 million ($65 million) as the buy-to-let lender announced an increased pretax profit but warned of more competition in the "subdued" mortgage market.
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August 16, 2024
Sweden's EQT To Buy South Korean Recycler From Genesis
The Swedish buyout group EQT AB said on Friday one of its funds has agreed to buy South Korean waste management company KJ Environment from the Czech Republic's Genesis Private Equity, as EQT looks to capitalize on growing global demand for recycling.
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August 16, 2024
Gibson-Led Energy Biz Wraps $106M Natural Gas Assets Buy
Petroleum company Diversified Energy said Friday that it has completed the $106 million acquisition of natural gas assets in eastern Texas from Crescent Pass Energy LLC in a move that increased its footprint in the central U.S.
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August 23, 2024
Orrick Gains Ex-BCLP Antitrust Pro As Partner In UK
Orrick Herrington & Sutcliffe LLP has hired a partner to its London antitrust unit from Bryan Cave Leighton Paisner LLP as it looks to build out a "world-class" team in the City.
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August 16, 2024
Revolut Valued At $45B After Secondary Equity Issue
U.K. fintech Revolut said Friday it has secured a $45 billion valuation in a share sale by its employees to new and existing investors, cementing its status as Europe's most valuable private technology company.
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August 16, 2024
Scientific Toolmaker Buys Engineering Co. For Initial £12.3M
U.K. instrumentation manufacturer Judges Scientific PLC has said it has bought the holding company of Teer Coatings Ltd., which manufactures protective coatings for industrial materials, for an initial £12.3 million ($15.9 million).
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August 15, 2024
JLEN To Return £20M To Shareholders After Asset Sale
Environmental infrastructure investor JLEN said Thursday that it will return up to £20 million ($25.7 million) to its shareholders in a new share buybacks program after it agreed on a deal to sell a part of its gas production facilities.
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August 15, 2024
Ashurst-Led HK Biz Buys Wind Farms From Aviva For £350M
A consortium led by CKI has agreed to buy 32 U.K. onshore wind farms from the asset management arm of insurance giant Aviva PLC for £350 million ($450 million), as the global infrastructure business eyes an expansion into Europe of its sustainability portfolio.
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August 15, 2024
Lease Operators' £26.4M Bid For Trinity Clears One Hurdle
Oil and gas company Trinity Exploration & Production PLC said Thursday that it has received a green light from the Trinidad and Tobago government for its anticipated £26.4 million ($33.8 million) sale to Lease Operators Ltd.
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August 15, 2024
Nutrition Products Firm Starts 2nd €50M Buyback Tranche
Glanbia PLC, a nutrition products business, commenced a share buyback program worth up to €50 million ($55 million) Thursday, the second phase of its €100 million stock repurchase scheme, advised by Irish law firm Arthur Cox.
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August 15, 2024
UK Insurance M&A On Track For 150 Deals In 2024
The number of mergers and acquisitions that involve U.K. insurance agencies is on track to rise to 150 in 2024, despite a more muted first half of the year, a consultancy said Thursday.
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August 15, 2024
PE-Backed Green Energy Biz To Buy £68M Stake In Gas Plant
U.K. renewable energy supplier Future Biogas said Thursday that it has agreed to buy a controlling stake in a gas production facilities portfolio from JLEN, an environmental infrastructure investment fund, for £68.1 million ($88 million).
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August 15, 2024
London's Listing Regime Revamp Overshadows Junior Market
The revamp by the City watchdog of the London Stock Exchange's rule book, which burnishes its appeal for corporate listings in competition with U.S. and European markets, has raised doubts on the future role of the junior market for growth companies and tech startups, lawyers say.
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August 14, 2024
PwC Owes $11M For Tax Errors, Real Estate Group Says
PwC should pay £8.9 million ($11.4 million) in damages to a real estate group for miscalculating its tax liabilities and mispricing its properties, which prompted several additional assessments and penalties, according to a claim in a London court.
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August 14, 2024
EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS
European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.
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August 14, 2024
Squarespace Shareholder Opposes $6.9B Go-Private Deal
Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.
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August 14, 2024
Playtech Confirms Talks For £2B Sale Of Italian Biz To Flutter
Gambling technology company Playtech PLC confirmed Wednesday it is in talks for the potential sale of its Italian online and retail sports betting unit to the owner of Paddy Power for an estimated £2 billion ($2.57 billion).
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August 14, 2024
British Miner Sells Stake In Exploring Biz To Peer For $31.2M
Mining services company Capital said Wednesday that it has sold its entire shareholding in gold explorer Predictive Discovery Ltd. to Australian mining company Perseus Mining for 47.3 million Australian dollars ($31.2 million) to use the proceeds to reduce its debts.
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August 14, 2024
German Defense Biz To Buy US Army Vehicle Co. For $950M
Rheinmetall AG said Wednesday it has agreed to buy U.S. military vehicle parts manufacturer Loc Performance Products LLC for $950 million, as the German defense firm moves to expand its product range globally.
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August 14, 2024
Danish Tech Firm Netcompany Begins $22M Buyback
Information technology business Netcompany Group A/S started a new share repurchase program worth up to 150 million Danish kroner ($22 million) on Wednesday as it reported an improvement in its cash flow.
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August 14, 2024
UK Software Co. Shareholders OK £40M Clinical AI Biz Sale
Software company Intelligent Ultrasound said Wednesday its shareholders have now approved the sale of its clinical AI business to GE HealthCare, a U.S. medical multinational and expects the £40.5 million ($52 million) deal to complete in October.
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August 14, 2024
Slaughter And May-Led Builder Drops Bid For Rival Company
Construction company Bellway has said that it will walk away from a planned buyout offer for Crest Nicholson, which valued the British homebuilder's equity approximately £720 million ($925 million)
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August 13, 2024
Russian Food Producer Ros Agro Delists From LSE
Russian food company Ros Agro PLC said Tuesday it has canceled trading its financial securities on the London Stock Exchange, after announcing plans in June to exit the British market and stick to trading on exchanges in Kazakhstan and Russia.