Private Equity
Buyout fund CVC Capital Partners held talks with Italian drugmaker Recordati (RECI.MI) over a possible 8 billion euro ($9.4 billion) takeover, but has put the deal on hold due to concerns about the hefty price tag and political uncertainty, sources told Reuters.
3 min read · 16 May 2018
Hearing aid makers Widex and Sivantos are merging to create an industry number three that can invest more in digital devices and step up the challenge to market leaders Sonova and William Demant, Reuters reported.
3 min read · 16 May 2018
TPG’s growth investment arm has raised its stake in Tanium Inc with a $175 million investment, valuing the U.S. cyber security start-up at about $5 billion, Reuters reported.
2 min read · 16 May 2018
Canadian investment firm Brookfield Asset Management (BAMa.TO) made a $3.3 billion approach for Australian hospital group Healthscope (HSO.AX), trumping a local buyout proposal and sending shares of the target up to a two-year high on Monday, Reuters reported.
3 min read · 14 May 2018
Canadian alternative investment firm Brookfield Asset Management made a US$3.3 billion approach for Australian hospital group Healthscope, trumping a local buyout proposal and sending shares of the target up to a two-year high, Reuters reported. The approach, disclosed by Healthscope in a statement, sets the scene for a takeover battle for the No. 2 Australian private hospital operator which has seen its shares slide due to high debt and a shift back to public health services after a scandal in the private sector. New Australian private equity player BGH Capital made an approach worth US$3.1 billion on April 26.
3 min read · 14 May 2018
Canadian Tire Corp will buy Norway-based Helly Hansen for $985 million, the diversified retailer said on Thursday, as it expands its sportswear business, Reuters reported. The deal is expected to close in the third quarter. Oslo-based Helly Hansen, currently owned by Ontario Teachers’ Pension Plan, sells a range of apparel used in sailing, skiing, mountaineering and hiking at its own stores as well as retailers such as Nordstrom. Ontario Teachers’ acquired a majority stake in the business in 2012.
2 min read · 10 May 2018
Cyber security firm Avast (AVST.L) shares were down 2.6 percent in early trade on Thursday in the London Stock Exchange’s biggest debut in almost a year, Reuters reported.
1 min read · 10 May 2018
Enbridge Inc has received higher-than-expected bids for the Canadian midstream assets it is selling as part of its debt-reduction efforts, with initial bids valuing the portfolio as high as $4.5 billion, sources told Reuters. Keyera Corp, Pembina Pipeline Corp and Husky Energy Inc’s midstream unit are among suitors that placed preliminary bids ahead of a recent deadline. Wolf Midstream Inc, backed by Canadian Pension Plan Investment Board, has made a bid for some of the assets on offer, and Inter Pipeline and KKR & Co were also said to be interested.
2 min read · 09 May 2018
Canadian pipeline operator Enbridge Inc will sell a U.S. gas pipelines business and part of its renewable energy assets for a total of about $3.2 billion (US$2.5 billion) as it seeks to shed secondary assets and reduce its massive debt load, Reuters reported. Enbridge said it had sealed a $1.75 billion agreement with Canada Pension Plan Investment Board to sell a 49 percent stake in wind and solar power assets in North America and Germany. It will also sell Midcoast Operating LP, its U.S. gas pipelines unit, to an affiliate of U.S. private equity firm ArcLight Capital Partners for US$1.12 billion.
3 min read · 09 May 2018
Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners have agreed to take 55 percent of the units in an infrastructure investment trust backed by a subsidiary of India's Larsen & Toubro Ltd, Reuters reported. L&T Infrastructure Development Projects Ltd (IDPL) is scheduled to list on the market this week. CPPIB will invest US$154.68 million for its 30 percent stake in IDPL, it said in a joint statement with Allianz. Allianz Capital Partners, on behalf of Allianz insurance companies, will buy 25 percent of the units in its first direct investment in Asia.
2 min read · 09 May 2018
