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Transactions UK
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August 02, 2024
Broker Sails Away With Marine Insurer From Zurich UK
A subsidiary of Ardonagh Group Ltd. has bought boat insurance specialist Navigators & General from Zurich UK, as it looks to broaden its horizons in the maritime insurance sector.
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August 02, 2024
CMS Guides Legal & General On £1.1B Essity Pension Deal
Legal & General has covered £1.1 billion ($1.4 billion) of pension liabilities for the U.K. business of Essity, a maker of hygiene and health products, in a move to secure the benefits of 5,900 retirees and 3,600 deferred members of the workplace savings plan.
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August 02, 2024
BNP Paribas To Buy Axa's Investment Manager For €5.1B
BNP Paribas SA has said it will buy an investment management subsidiary from French insurer Axa SA for €5.1 billion ($5.5 billion) to create a combined platform with €1.5 trillion of assets under management.
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August 01, 2024
EU Approves $18B Grain Deal With Asset Sales
European enforcers on Thursday approved grain and seed supplier Bunge Ltd.'s plan to buy global grain trader Viterra Ltd. in an $18 billion deal, conditioned on the sale of Viterra's oilseed businesses in Hungary and Poland.
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August 01, 2024
Barclays Wins £13.7M Freezing Order Action Against Directors
Barclays Bank PLC has proven that two businessmen breached freezing orders on £13.7 million ($17.5 million) of assets, after a London court on Thursday ruled it was beyond reasonable doubt the men allowed the assets to move offshore.
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August 01, 2024
Investor Wins $180M Claim Over Plane Leases Against VietJet
A global private investment company's unit has won its $180 million claim against a Vietnamese budget airline it alleged was a "delinquent debtor," after a London judge said that the air carrier had waged a campaign to stop the planes being returned to their owner.
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August 01, 2024
Cérélia Can't Fight Order To Sell Jus-Rol, UK Top Court Rules
The U.K.'s top court refused Thursday to allow dough maker Cérélia a chance to appeal a decision forcing it to sell its Jus-Rol brand, ruling there were no legal grounds to challenge the finding that the move is necessary to protect competitive markets.
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August 01, 2024
Advil Pain Relief Drugmaker Haleon Begins £185M Buyback
Haleon PLC launched a share buyback program on Thursday of up to £185 million ($237 million) as the consumer healthcare giant moves to reduce outstanding share capital.
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August 01, 2024
City Firms To Invest Up To £20B Of Pension Funds In UK Biz
Phoenix Group and Schroders have announced plans to invest as much as £20 billion ($25.7 billion) of pension money into private markets over the next decade in line with wider industry commitments to direct retirement savings capital toward the British economy.
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August 01, 2024
Krogerus-Led Finnish IT Co. Endorses €60M Takeover Bid
Innofactor PLC said Thursday that its board had recommended that its shareholders accept the approximately €60 million ($64.8 million) takeover offer made in July by a consortium of investors, which includes its chief executive and Finnish investment firm CapMan Growth.
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August 01, 2024
Orrick-Steered PE Firm Buys Wind Farm Stake For €100M
U.K. private equity firm Equitix Investment Management Ltd. said Thursday it has bought a 15.2% equity interest in Germany's Gode offshore wind farm for €100 million ($107.8 million) from Renewables Infrastructure Group Ltd., also known as Trig.
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August 01, 2024
Aerospace Biz To Return £250M To Shareholders
Aerospace company Melrose Industries PLC said Thursday that it plans to return up to £250 million ($320 million) to its shareholders via a share buyback program over the next 18 months as it reported strong half-year financial performance.
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August 01, 2024
Shell Begins New $3.5B Share Buyback Scheme
Shell PLC on Thursday rolled out an approximately three-month long, $3.5 billion share repurchase program aimed at lowering its outstanding share capital, as it reported a drop in its earnings for the second quarter of the year.
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August 01, 2024
Slaughter And May Guides UK Biotech Biz's £80M Equity Issue
Oxford Nanopore Technologies PLC said on Thursday that it has raised approximately £80 million ($102 million) by selling new shares in the biotechnology company to investors including Danish drug giant Novo Nordisk.
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August 01, 2024
Barclays Plans £750M Buyback As Profits Beat Estimates
Barclays PLC said Thursday that it will reward shareholders with a shares buyback of up to £750 million ($957 million) as it announced results for the first six months of 2024 that beat the expectations of analysts.
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July 31, 2024
SocGen To Invest €250M In Energy Transition Biz
French-based multinational financial services company Societe Generale said Wednesday that it has agreed to invest €250 million ($271 million) to acquire 75% of alternative asset management company Reed Management SAS as part of its strategy to invest in emerging energy transition companies.
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July 31, 2024
JustEat Kicks Off New €150M Share Buyback
Just Eat on Wednesday launched a new program to buy back its shares worth up to €150 million ($163 million), a move expected to lower the online food marketplace's outstanding share capital.
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July 31, 2024
Holding Co. Can't Dodge Liability In IP Misrepresentation Feud
A London court has rejected a holding company's bid for a declaration that a cashpoint software business it sold in 2020 owns a disputed set of intellectual property, dashing the company's hopes of shielding itself from potential liability for other shareholders' alleged misrepresentations during the sale.
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July 31, 2024
Unsecured Credit Biz IPF Launches £15M Share Buyback
International Personal Finance PLC began a share repurchase program worth up to £15 million ($19 million)on Wednesday with the aim of rewarding investors and lowering the size of its outstanding share capital.
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July 31, 2024
Aussie Bank ANZ Acquires Suncorp Unit For $3.2B
Australia and New Zealand Banking Group Ltd. said Wednesday that it has acquired Suncorp Bank for approximately 4.9 billion Australian dollars ($3.2 billion), two years after it signed the deal.
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July 31, 2024
Veolia To Sell Sulfuric Acid Regeneration Biz For $620M
Veolia Environnement SA said Wednesday that a U.S. subsidiary has agreed to sell its acid purification business to American Industrial Partners, a mid-market private equity firm, for $620 million, as the French infrastructure manager refocuses its business.
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July 31, 2024
HSBC Unveils $3B Buyback As Profits Remain Stable
Banking heavyweight HSBC said Wednesday that it will line shareholders' pockets with as much as $3 billion after reporting stable profits for the first half of the year in outgoing chief executive Noel Quinn's final earnings report.
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July 30, 2024
GSK To Put Up To $7.2B Into Biotech VC's Pipeline
GlaxoSmithKline said Monday it is investing up to $7.2 billion in a biotech venture capital firm's research and development pipeline, focusing on treatments for respiratory and immune problems.
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July 30, 2024
Eversheds-Led Greggs Lands £100M Pension Deal With Aviva
Aviva PLC has insured the retirement savings plans of more than 600 members of British bakery and café chain Greggs PLC in a buy-in transaction of £100 million ($128.4 million), with the deal guided by Eversheds Sutherland.
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July 30, 2024
Regulator Highlights Quality Gaps Among Top Auditors
The Financial Reporting Council said Tuesday that there is a widening gap between BDO LLP and Forvis Mazars LLP and the better performance of the Big Four accounting firms for high-quality audits of major U.K. companies.