Two Chinese healthcare companies are among investors seeking to buy Australia’s I-MED Radiology Network in a deal that could value the X-ray provider at more than A$1 billion (US$765 million), sources told Reuters. Shenzhen-listed Tonghua Golden-Horse Pharmaceutical Industry and Hong Kong-listed Golden Meditech Holdings are likely to participate in a second round of bidding. Ontario Teachers’ Pension Plan, Canada’s third-largest public pension plan, and London-based private equity firm Permira, are also expected to submit separate bids, two of the sources said. I-MED is owned by Swedish private equity firm EQT Holdings, which acquired it in 2014.
3 min read · 02 November 2017
Bombardier Inc should look at all options for its transportation business including partnering with China’s state-owned CRRC Corp, Reuters reported, quoting one of Bombardier’s biggest shareholders. “I think we have to look at everything. Every opportunity that comes up ought to be looked at,” Caisse de dépôt et placement du Québec Chief Executive Michael Sabia told reporters when asked about a deal with CRRC. Germany’s Siemens and France’s Alstom said they are merging their train manufacturing operations in September, leaving Bombardier competing in a market dominated by CRRC, the world’s largest train maker. The Caisse announced a $2.1 billion (US$1.5 billion) convertible share investment in Bombardier’s rail arm in 2015 and closed the deal the following year.
2 min read · 02 November 2017
Signa Holding, the Austrian property and retail group that owns German department store chain Karstadt, has made a 3 billion euro (US$3.5 billion) offer to acquire Hudson’s Bay Co’s German peer Kaufhof, sources told Reuters. Signa submitted the fully financed bid this week, the sources said. They added that Signa expects Hudson’s Bay, which has been reluctant so far to engage in negotiations to sell Kaufhof, to respond by mid-November.The bid comes one week after Hudson’s Bay agreed to sell its flagship Lord & Taylor building in New York for US$850 million to WeWork Cos and raise an investment from U.S. private equity firm Rhône Capital.
3 min read · 01 November 2017
Two Chinese healthcare firms are among investors seeking to buy Australia’s I-MED Radiology Network in a deal that could value the X-ray provider at more than A$1 billion ($765 million), Reuters reported.
2 min read · 01 November 2017
French energy company Engie SA and Brazilian investment firm Pátria Investimentos Ltda are among 20 groups interested in a controlling stake in a gas pipeline network owned by Petroleo Brasileiro SA, sources told Reuters. Petrobras, as Brazil’s state-controlled oil company is known, will receive a first round of non-binding proposals for a 90 percent stake in Transportadora Associada de Gás SA, known as TAG, by the end of November, the sources said. Other contenders for TAG, which owns 4,500 kilometres of natural gas pipelines in northeastern region of Brazil, include Abu Dhabi state-owned holding Mubadala Development Co, Canada Pension Plan Investment Board (CPPIB) and U.S. private equity group EIG Global Energy Partners. One of the sources said Petrobras aimed to fetch a price above the US$5.2 billion paid last year by a group led by Brookfield Asset Management for another gas pipeline company, Nova Transportadora do Sudeste SA.
2 min read · 31 October 2017
Anglo-Saxon investment fund Cinven said on Monday it has agreed to take a majority stake in the agri-food company Planasa for some 450 million euros, Reuters reported.
1 min read · 30 October 2017
Insulation and roofing company Owens Corning said on Sunday it would buy European mineral wool maker Paroc Group from private equity firm CVC Capital Partners for about 900 million euros ($1.04 billion), Reuters reported.
1 min read · 30 October 2017
Dutch paints maker Akzo Nobel, under pressure after rejecting a lucrative takeover offer and two profit warnings, has confirmed merger talks with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company, Reuters reported.
3 min read · 30 October 2017
Bankers are set to launch a €325m leveraged loan for two of the four chemical assets CVC acquired from DSM in 2015, that will enable shareholders to take around €100m as a dividend, banking sources told Reuters.
1 min read · 26 October 2017
U.S. private equity fund TPG Capital has started talks with the Saudi Arabian government to bring Cirque du Soleil to the kingdom, Reuters reported, quoting TPG chairman David Bonderman. Montréal-based Cirque du Soleil, the global circus and entertainment troupe, sold a majority stake to a group led by TPG in 2015 in a deal valued at US$1.5 billion. In July, Cirque du Soleil acquired Blue Man Productions for US$65.5 million.
1 min read · 26 October 2017
