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Transactions UK
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September 20, 2024
EQT To Buy Indian Affordable Housing Finance Biz For $210M
Swedish investment giant EQT plans to buy Indostar Home Finance of India for $120 million, to help its growth as the Asian country struggles with housing shortages.
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September 19, 2024
Simpson Thacher Reps ICG On $1.9B North American Fund
Simpson Thacher & Bartlett LLP-advised British private equity shop Intermediate Capital Group Inc. on Thursday announced that it clinched its third North American credit fund with $1.9 billion in capital commitments.
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September 19, 2024
Record Number Of Pension Deals Reported In First Half Of '24
A record number of companies in the U.K. carried out pension risk transfer transactions during the first six months of 2024, offloading £15.3 billion ($20.3 billion) of pension plan liabilities to bigger players, Hymans Robertson said in a report.
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September 19, 2024
Touchstone Criticizes UK Rules After Failed Trinity Bid
Touchstone Exploration Inc. criticized the U.K. takeover rules on Thursday and said that it will not enforce its takeover of Trinity after the London-listed rival disclosed Wednesday that it will legally walk away from the Canadian petroleum company's offer.
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September 19, 2024
Milbank, Vinge Guide Hotels Biz Pandox On $200M Fundraise
Pandox AB said it has raised 2 billion Swedish kronor ($200 million) by issuing stock directly to investors, advised by Milbank LLP and Swedish law firm Vinge, as the hotel buyer and manager looks to bolster its financial muscle.
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September 19, 2024
HSF Guides REIT NewRiver On £50M Placing, Retail Offer
NewRiver REIT said Thursday it has raised £50.2 million ($66.7 million) with a sale of its shares to help finance the planned purchase of U.K. shopping mall owner Capital & Regional.
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September 19, 2024
EU Wrong To Block Berlusconi's Bank Stake, Top Court Rules
Europe's highest court ruled Thursday that the European Central Bank was wrong to decide that a prior conviction for tax fraud prevented former Italian Prime Minister Silvio Berlusconi from holding a stake in a bank in the country.
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September 19, 2024
Close Brothers To Sell Wealth Manager To Oaktree For £200M
Close Brothers said Thursday that it has agreed to offload its wealth management business to Oaktree Capital Management for up to £200 million ($265 million) in a bid to boost its capital position and "navigate the current uncertain environment."
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September 18, 2024
City Presses For Strategy To Draw £7.7B In New Foreign Cash
The governing body of the City of London urged the government on Thursday to design a strategy that will entice foreign sovereign investors to plow an estimated £7.7 billion ($10.2 billion) of additional capital into the domestic economy.
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September 18, 2024
EU Drops Microsoft-Inflection Probe After Illumina Ruling
European enforcers said Wednesday they will not review Microsoft's acquisition of key personnel from Inflection AI after member states withdrew their referrals in the wake of a recent high court ruling in the Illumina-Grail merger challenge.
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September 18, 2024
Parent Of UK's TGI Fridays Falls Into Administration
The British restaurant group that operates TGI Fridays' UK stores has collapsed into administration on Wednesday, along with its plans to sell its 87 restaurants in the UK, the company said after it nixed a deal to acquire U.S. stores earlier this month.
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September 18, 2024
Jones Day Steers Artificial Heart Maker On €10.3M Raise
Carmat SA on Wednesday launched a program to raise an initial €10.3 million ($11.5 million) by issuing shares to investors as the French artificial heart developer, advised by Jones Day, seeks to shore up its short-term funding.
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September 18, 2024
Trinity To Drop Touchstone Bid After Rival Offer Approved
Trinity said Wednesday that it intends to walk away from an inferior offer by Canadian rival Touchstone, after the oil and gas exploration company received a nod from Trinidad and Tobago authorities for its £26.4 million ($35 million) sale to Lease Operators.
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September 18, 2024
Bird & Bird Guides AI Analytics Firm In London Float
Intellectual property investor Tekcapital PLC said Wednesday that its artificial intelligence analytics business GenIP plans to sell its shares on the London Stock Exchange in a £1.5 million ($2 million) initial public offering, advised by Bird & Bird LLP.
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September 18, 2024
Campari Buys Stake In Whisky Brands Owner For £69.6M
Italian drinks maker Campari Group said it has bought a 14.6% stake in Capevin Holdings Proprietary Ltd., the South African owner of a whisky producer, for £69.6 million ($92 million) in cash.
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September 18, 2024
British Packaging Co. To Buy US Conveyor Biz For $17M
British packaging business Mpac Group PLC said Wednesday that it has agreed to acquire U.S.-based Boston Conveyor & Automation Inc. for $17 million in a cash-and-stock deal from its sole owner, Jim Laverdiere, expanding Mpac's footprint in North America.
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September 18, 2024
Eversheds Steers £200M Pension Deal For Bus Co. Arriva
Insurance giant Aviva said Wednesday that it has taken on £200 million ($264 million) worth of pension liabilities from a retirement savings plan sponsored by bus operator Arriva Merseyside Ltd., in a deal guided by Eversheds Sutherland LLP.
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September 18, 2024
Travers Smith, Simpson Thacher-Led PEs In £1.4B Builder Buy
U.S. investors Sixth Street and Patron Capital said Wednesday that they have agreed to buy U.K. house builder Cala from Legal & General Group PLC for £1.35 billion ($1.78 billion), as the nation's construction sector rebounds from a bruising downturn.
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September 17, 2024
VivoPower Plots $1.13B Merger After Unit's SPAC Deal Closes
Sustainable energy solutions company VivoPower and hydrogen technology company FAST are mulling a combination valuing the pair at $1.13 billion, in a potential deal that would follow the departure of VivoPower's electric utility vehicle subsidiary through a special purpose acquisition company merger.
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September 17, 2024
Competitiveness Outranks Climate In New EU Commission
European Commission President Ursula von der Leyen shifted her focus from climate change to boosting competitiveness as she proposed her team of commissioners for the next five-year mandate Tuesday, handing out key jobs covering everything from competition enforcement to trade policy.
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September 17, 2024
Guardian In Talks To Sell The Observer To Tortoise Media
The parent company of the Guardian newspaper is in talks to sell the Observer to Tortoise Media, in a possible deal that would include an investment of more than £25 million ($33 million) in the Sunday newspaper, the businesses said Tuesday.
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September 17, 2024
Conn. AG Balks At Avangrid's $2.55B Take-Private Deal
Connecticut Attorney General William Tong and Consumer Counsel Claire E. Coleman want the state's utility watchdog to probe a Spanish energy firm's $2.55 billion proposal to take a Constitution State-based utility private, citing fears about reduced regulatory oversight amid soaring electricity and gas prices.
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September 17, 2024
Syensqo Transfers $485M of Pension Risk To Pacific Life, RBC
Belgian chemicals company Syensqo said Tuesday it has offloaded $485 million of its U.S. and Canadian pension liabilities through a bulk annuity deal with two insurers.
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September 17, 2024
Freshfields-Led Warburg Pincus Sells IT Biz Shares For €153M
Global private equity firm Warburg Pincus said Tuesday that it has sold a part of its stake in German Internet service provider Ionos Group SE and raised total proceeds of approximately €153 million ($170.3 million) in a placement guided by Freshfields Bruckhaus Deringer LLP.
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September 17, 2024
Euronext Buys UK Stock Market Research, Data Software Biz
Euronext NV said Tuesday that it has bought Substantive Research Ltd., a British provider of investment research and market data, as the stock exchange aims to bolster its analysis service for investors.