U.S. hedge fund Elliott Capital Advisors disclosed on Monday it has taken a 6.8 percent stake in WS Atkins after the British engineering and construction consultancy business agreed to be bought in a $3.6 billion deal, Reuters reported. Elliott said in a regulatory filing that it had acquired the stake in a contracts-for-difference deal on April 21, the day after Atkins agreed to its acquisition by Canadian construction and engineering group SNC Lavalin. Elliott's stake in Atkins makes it the second-biggest shareholder, Thomson Reuters data showed, just behind asset manager Columbia Threadneedle Investments.
2 min read · 24 April 2017
European engineering groups ABB Ltd and Schneider Electric SE are competing for General Electric Co's industrial solutions division, which could fetch as much as US$3 billion, sources told Reuters. ABB and Schneider Electric are through to the second round of bidding for the GE unit, a provider of primarily electrical equipment. Private equity firms, including KKR & Co LP, Clayton Dubilier & Rice LLC, Warburg Pincus LLC and Canada's Onex Corp, are also in the running, according to the sources.
2 min read · 24 April 2017
Private equity-owned ING Life Insurance Korea said on Monday it priced its initial pubic offering (IPO) near the lower end of an indicative range to raise a total of 1.1 trillion won ($973.54 million).
1 min read · 24 April 2017
The owners of Poland's mobile operator P4, which operates under the Play brand name, are considering an initial public offering (IPO) after they called off an auction to sell the business in 2016, Reuters reported.
1 min read · 24 April 2017
A buyout by Hong Kong's Chow Tai Fook Enterprises (CTFE) of gas and electricity retailer Alinta Energy has been approved by Australia's Foreign Investment Review Board (FIRB), clearing the way for a deal said to be worth nearly A$4 billion ($3 billion), Reuters reported.
1 min read · 24 April 2017
Buyout group BC Partners has sold German transformer maker SGB-SMIT to peer investor One Equity Partners, after failing to reach a deal to merge it with the power transformer unit of French electrical components maker Schneider Electric, Reuters reported.
1 min read · 24 April 2017
Dubai Aerospace Enterprise Ltd (DAE) is acquiring Dublin-based AWAS, the world's tenth biggest aircraft lessor, in a deal that will add over 200 planes to its fleet and more than double the size of its current business, Reuters reported. DAE, controlled by the government of Dubai, signed a definitive agreement to buy AWAS from British financier Guy Hands' private equity firm Terra Firma Capital Partners and Canadian Pension Plan Investment Board (CPPIB). They did not disclose financial terms of the deal. The sale marks the exit of Terra Firma and CPPIB from AWAS, in which they first put in money in 2006.
2 min read · 24 April 2017
British luxury retailer Jimmy Choo (CHOO.L) is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, Reuters reported.
1 min read · 24 April 2017
U.S. private equity firm KKR & Co LP (KKR.N) and Japanese government-backed fund, Innovation Network Corp of Japan (INCJ), will submit a joint offer for Toshiba Corp's (6502.T) memory chip unit, the Nikkei business daily reported on Friday.
1 min read · 21 April 2017
Neptune Oil & Gas moved closer to the $2 billion purchase of a majority stake in the exploration and production arm of French utility Engie after agreeing Chinese sovereign fund CIC could increase its minority stake in the target firm, sources told Reuters.
2 min read · 21 April 2017
