Saudi Aramco seeks to raise at least $17 billion from gas pipeline
Saudi Aramco is looking to raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, higher than the $12.4 billion raised from its oil pipeline deal, Reuters reported on Monday quoting unnamed sources. Potential bidders including North American private equity and infrastructure funds, as well as state-backed funds […]
KKR India Fin Services and InCred ink deal to merge their lending biz
A year after entering into talks for a partnership, KKR’s non-bank lending business, KKR India Financial Services (KIFS) and InCred Financial Services, the retail and MSME lending business of InCred, have inked a deal to merge the two lending businesses. Founded in 2016 by Bhupinder Singh, InCred Finance is a tech-enabled lending institution that spans […]
Meggitt presses ahead and publishes documents for Parker-Hannifin £6.3bn takeover bid
British defence technology firm Meggitt has published its scheme documents for a recommended £6.3bn takeover by Parker, just five days after it received a proposal for a potentially higher bid from US rival Transdigm. Meggitt said its takeover panel will announce a deadline by which TransDigm must clarify its intentions in relation to its offer, […]
U.K. Defense Firm Ultra Electronics Agrees to Cobham Takeover
Ultra Electronics Holdings Plc said it has accepted a 2.57 billion-pound ($3.6 billion) buyout approach from Cobham Ltd. to unite the British manufacturers of defense and aerospace systems. The firms said in a statement Monday that they’d reached agreement on an all-cash deal valuing Ultra at 35 pounds as share. That’s after Ultra said July 23 it was […]
HSBC to acquire AXA’s Singapore unit for $575m
HSBC said Monday that its subsidiary has agreed to buy French-multinational insurance firm Axa’s business in Singapore for $575m. The acquisition is a part of HSBC’s plans to expand its wealth management business in Asia. HSBC, Europe’s biggest bank by assets, will fund the acquisition through existing resources and the lender said in a statement […]
Faurecia wins bidding tussle over auto lights maker Hella
French car parts suppliers Faurecia on Saturday agreed to acquire a majority stake in German automotive lighting group Hella, trumping rival bidders and creating the world’s seventh-largest player in a 6.7 billion euros deal. Faurecia struck the deal with a pool of family-related shareholders over their 60% stake for 60 euros ($70.75) per share and […]
UEFA ‘put finishing touches to a £6BILLION rescue package to help struggling clubs hit hard by devastating impact of Covid pandemic’
UEFA are close to finalising a £6billion rescue package to help European football recover from the financial impact of the coronavirus pandemic. UEFA have devised a three-pronged strategy to help clubs who had to deal with a lack of supporters in stadiums in addition to falling broadcast revenue. To combat the issue UEFA are proposing a funding […]
Private equity firm acquires Canada’s Fresh Direct Produce
Private equity firm PNC Riverarch Capital has announced that it has acquired leading Canadian fresh fruit and vegetable distributor Fresh Direct Produce (FDP) from another equity firm, HKW. Headquartered in Vancouver, FDP has six locations across British Columbia, Alberta, and Ontario. The company’s diverse and growing offering of over 5,000 SKUs includes a broad selection […]
Private Equity-backed Milestone Technologies Acquires SMCI
Global IT managed services firm Milestone Technologies, backed by private equity firm H.I.G. Capital, has acquired Software Management Consultants, Inc. (SMCI), a next-gen IT consulting, talent management and digital solutions provider from Glendale, California. Terms of the deal were not disclosed. This is technology M&A deal number 510 that ChannelE2E has covered so far in 2021. The […]
US private equity increased investment in Q2 by 60% compared to 2020
The American Investment Council (AIC) has released a new report that demonstrates how private equity continues to fuel the Covid-19 economic recovery across America. Specifically, the report reveals that US private equity investment volume jumped to $175 billion in Q2 2021 from $109 billion in Q2 2020, a 60% increase. In the first half of […]
