Weekly Highlights: Deals

There have been several developments in the deals landscape this year. Following are the important updates from this week:

  • Private credit firms Apollo and HPS Investment Partners raised funds to loan Carlyle $5.5 billion for half of Cotiviti
  • Life Storage rejected Public Storage’s $11 billion bid
  • Adani Power canceled its plan to acquire a coal plant project in central India
  • Byju’s is in negotiations with investors, including TPG, to raise over $500 million
  • The United Arab Emirates’ national oil company plans to raise over $2 billion by listing its natural gas business
  • Stripe is on track to process $1 trillion in transactions this year
  • Manchester United and Everton FC have garnered interest from Qatari investors and 777 Partners, respectively
  • Sheffield United’s potential buyer faces lawsuits in the US and UK for not paying debts
  • China Renaissance Holdings has lost touch with its chairman, CEO, and controlling shareholder, Bao Fan
  • IAA’s sale to Ritchie Bros – Auctioneers faced opposition from one of IAA’s largest shareholders
  • Sinochem is reportedly considering selling its 37% stake in Pirelli
  • Vodafone is exploring options for its African business in response to investor pressure
  • The Big 3 basketball league, founded by rapper and actor Ice Cube, is in talks to sell some of its teams to outside investors
  • Adobe’s proposed $20 billion takeover of design firm Figma could face a lengthy European Union antitrust probe
  • Magnolia, the home and lifestyle brand founded by Chip and Joanna Gaines, is reportedly exploring options, including a sale of a minority stake
  • Indosat Ooredoo Hutchison is said to be nearing a deal to sell a portfolio of telecoms towers to Mitratel
  • Activist investors are increasingly targeting large-cap companies
  • Purple Innovation declared a special dividend to prevent a significant minority holder from gaining full representation on its board and put up hurdles on a potential buyout
  • REPT Battero Energy added Credit Suisse to help arrange its planned Hong Kong IPO
  • Subway confirmed that it is working with JPMorgan to explore a sale
  • German manufacturer Norma Group rejected takeover approaches from bidders including Carlyle Group
  • Away, a luggage company valued at $1.45 billion in 2019, is exploring strategic options, including a sale
  • PT Jasa Marga, Indonesia’s state-owned toll road operator, is planning a private placement for one of its regional units
Disclaimer: The information provided in this deals summary article is for informational purposes only and should not be considered as investment advice. The deals and investments discussed in this article are subject to change and may not be representative of the overall market. The deals data is based on publicly available information and should not be taken as a guarantee of future performance. The information provided in this article is not intended to be a substitute for professional advice and readers should always conduct their own research and due diligence before making any investment decisions.
MSc Finance graduate from the London School of Economics and Political Science (LSE)
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Ria V Vaghela is an M&A Executive at RSM UK and an MSc Finance graduate from the London School of Economics and Political Science (LSE). She has worked at Jefferies, Dial Partners and 7i Capital prior to RSM UK gaining an experience of about 1.5 years. She has also worked as an Editor and Content Writer for The Representative Media. Apart from finance, she is interested in reading books on psychology and economics and also likes to paint and play lawn tennis

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