Private Equity
Australia’s Gateway Lifestyle Group has received a sweetened A$713.8 million (US$531 million), or A$2.35 a share, takeover offer from Hometown Australia Holdings Pty Ltd and Hometown America Communities LP, Reuters reported. The revised bid came after Canada’s Brookfield Asset Management launched a A$698.6 million bid for the retirement village owner last week. Gateway operates 50 retirement villages, often former caravan parks converted into communities for residents over 50 years old.
1 min read · 25 June 2018
China’s Meituan Dianping, an online food delivery-to-ticketing services platform, is bringing its initial public offering to Hong Kong, where it aims to raise over US$4 billion, sources told Reuters. The Beijing-based company, backed by Tencent Holdings Ltd, was valued at around US$30 billion in a fundraising last year. It is aiming for a US$60 billion valuation with the IPO. Meituan’s other backers include venture capital firms Sequoia Capital and DST Global, Singapore's GIC Pte Ltd and Temasek Holdings (Private) Ltd, as well as Canada Pension Plan Investment Board.
3 min read · 25 June 2018
China Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, aims to raise as much as $800 million in a Hong Kong IPO, sources told Reuters.
2 min read · 25 June 2018
China’s Meituan Dianping, an online food delivery-to-ticketing services platform, is bringing its initial public offering (IPO) to Hong Kong, where it aims to raise over $4 billion, sources told Reuters.
3 min read · 25 June 2018
European insurer Allianz has agreed to a joint venture with asset manager Greystar Real Estate Partners and Canada’s Public Sector Pension Investment Board (PSP Investments) to develop U.K. student housing, Reuters reported. Allianz said the equity value of the deal was about US$465.05 million. The deal sees Allianz take a stake in London-focused Chapter alongside existing investors Greystar and PSP Investments. The company aims to double the size of its portfolio to 10,000 student beds within five years.
1 min read · 22 June 2018
Australia’s AMA Group (AMA.AX) said on Friday it has halted a deal to sell its vehicle panel repair arm to Blackstone Group (BX.N) for A$508 million ($375 million) following an unfavorable ruling from the Australian Taxation Office.
1 min read · 22 June 2018
Danone Manifesto Ventures (DANO.PA), an investment fund set up by the French food giant to target start-up companies challenging the dominance of big brands, expects to have invested in 20-25 such firms by 2020, Reuters reported.
2 min read · 22 June 2018
Brazil’s antitrust watchdog Cade on Friday approved buyout firm Advent International’s acquisition of Walmart Inc’s (WMT.N) Brazilian operations, and sought no additional asset sales, Reuters reported.
1 min read · 22 June 2018
Activist investor Land & Buildings this week resumed its criticism of Canadian department store owner Hudson’s Bay Co, urging it to correct its under-performance and extract value from its substantial real estate holdings, Reuters reported. The hedge fund agreed in December to cease public statements about the company until its shareholder meeting on June 12. Now, Land & Buildings founder Jonathan Litt is again pushing HBC to boost its share price, which is below the value of its assets following a run of earnings disappointments, and to monetize its prime property assets.
2 min read · 21 June 2018
Royal Dutch Shell announced the sale on Wednesday of oil and gas assets in Norway and Malaysia for over $1.3 billion, bringing it closer to a target of $30 billion in disposals by year-end.
2 min read · 21 June 2018
