EuroPE Pulse - Weekly #7, 03/11
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EuroPE Pulse - Weekly #7, 03/11

This week, as we continue our exploration of the dynamic landscapes of Large Cap Private Equity, Middle Market, Tech M&A, and Growth Tech & VC sectors, we delve deeper into the stories that shape our understanding of these pivotal investment realms.

Additionally, we're eagerly looking forward to the opportunity to connect with industry leaders, including top tech CEOs and Private Equity Firms, at the Global Tech Conference hosted by Houlihan Lokey in London. Should you be attending, we'd be delighted to meet and explore some of the topics from our newsletter, among others.

?? Large Cap Private Equity Insights

A beacon within the investment realm, EQT's unveiling of the EQT Future Funds, amassing $3.3 billion, heralds a pivotal shift towards investments earmarked for Climate & Nature and Health & Wellbeing. This initiative, along with their staggering fundraising of $27 billion in 2024, crystallizes a pronounced shift towards impactful, sustainable investment avenues.

Vista Equity's strategic stance, initiating the sale process for Greenway Health, underscores the health IT sector’s allure. With KKR and Apollo Global making strategic overtures towards Encavis and TripAdvisor, the anticipation of strategic consolidations burgeons.

Not to be overshadowed, Carlyle's ambitious acquisition of a majority stake in London Southend Airport signals a robust confidence in the recovery and growth trajectory of the infrastructure and transport sectors post-pandemic.

?? Middle Market Chronicles

MiddleGround Capital's strategic acquisition of Spain's IT8 weaves a narrative of cross-border investment excellence, exemplifying strategic plays in the international engineering sector. Simultaneously, Ardian’s ambitious aim to harness €5bn for a new private credit fund illuminates the sector's vibrancy and its pivotal role in enabling mid-sized enterprises to reach new heights of success.

?? Tech M&A Pulse

The tech sector buzzes with Accenture's acquisition of GemSeek, a move that magnifies the transformative influence of AI in crafting unparalleled customer experiences. Moreover, Cisco’s anticipated acquisition of Splunk introduces a potentially groundbreaking shift in cybersecurity capabilities, pending EU regulatory approval. Meanwhile, CrowdStrike extends its cybersecurity fortress by acquiring Flow Security, solidifying cloud data's shield against evolving digital threats. These movements not only highlight the sector's agility but also its relentless pursuit of technological excellence.

?? Growth Tech & VC Vibrancy

The dynamic growth tech and VC landscape is electrified by Deel's strategic acquisition of PaySpace, redefining global payroll management's future. This narrative is further enriched by Microsoft and Walmart's strategic investment of $500 million in Team8, spotlighting cybersecurity and digital trust as cornerstone elements for future enterprises. These moves not only signal confidence in the growth tech and VC realms but also highlight the strategic importance of cybersecurity and HR tech innovations.

?? Market Buzz & Insider Whispers

In a week that sees ByteDance's TikTok navigate through geopolitical currents, the strategic calculus of Carlyle, CVC, and KKR vis-à-vis Samsonite unravels a fascinating chapter of potential market reshaping and value creation, heralding new epochs of strategic buyouts and partnerships.

Rest assured, our commitment is to serve as your navigator through the complex yet exhilarating odyssey of notable investments in Europe. We invite you to stay connected for our next edition, where we continue to chart the course through the shifting currents of strategic investments.

With anticipation for the trails we will explore,

follow us on LinkedIn: EuroPE Pulse: Deals & Insights

Best, Clément


LARGE CAP PRIVATE EQUITY

$251 Billion Private Equity Group EQT Closes $3.3 Billion EQT Future Funds Investing in 2 Strategies Climate & Nature and Health & Wellbeing, EQT Raised $27 Billion in 2024

Mar 9 | Caproasia Online

$251 Billion Private Equity Group EQT Closes $3.3 Billion EQT Future Funds Investing in 2 Strategies Climate & Nature and Health & Wellbeing, Commitments from Institutional Investors, Private Wealth Clients & Family Offices, EQT Raised $27 Billion in 2024 Including Recently Announced Largest Fundraise for 10th Fund with $24 Billion for EQT X 9th March [...] The post $251 Billion Private Equity Group EQT Closes $3.3 Billion EQT Future Funds Investing in 2 Strategies Climate & Nature and Health & Wellbeing, Commitments from Institutional Investors, Private Wealth Clients & Family Offices...

Companies: EQT AB, EQT Partners AB, Investor AB

Vista Equity launches sale process for Greenway Health

Mar 9 | Mergermarket

Greenway Heath, a Vista Equity-backed healthcare information technology (HCIT) provider, is in the first round of a sale process targeting financial and strategic buyers, according to two sources familiar with the matter. Greenway is a large provider of software for electronic health records, revenue cycle management, and medical coding, among other sectors, according to its website.

Companies: Vista Equity Partners LLC

KKR in talks over €2bn deal for renewable energy company Encavis

Mar 8 | Private Equity Wire

Renewable energy producer Encavis, which runs wind and solar parks across Europe, is in discussions to be acquired by global buyout firm KKR & Co in a deal that could value the German company at more than €2bn, according to a report by Bloomberg.

Companies: ENCAVIS AG, Kohlberg Kravis Roberts & Co

CVC-Owned Beauty Chain Douglas Seeks $1.2bn in Listing

Mar 8 | Private Equity Insights

Perfume retailer Douglas is looking to raise as much as €1.1 billion ($1.2 billion) through a listing in Frankfurt, as private equity owner CVC Capital Partners bets on a rebound in European initial...

Apollo Global is in talks to acquire TripAdvisor

Mar 7 | AK&M

AK&M 07 March 2024 12:37 The American investment company Apollo Global Management Inc. is in talks to acquire the world's largest travel website development service TripAdvisor Inc. This is reported by foreign media. Market value TripAdvisor is estimated at $3.5-3.7 billion. TripAdvisor In February 2024, TripAdvisor decided to form a special committee to consider proposals for a potential acquisition of the company's share capital.

Companies: Apollo Global Management Inc

Carlyle fund acquires majority stake in London airport

Mar 6 | Private Equity Wire

US private equity firm Carlyle’s Global Infrastructure Opportunity Fund will acquire an 82.5% stake in London Southend Airport, a subsidiary of aviation group Esken, formerly Stobart Group, in an agreement to settle £193.75m in debt, with London-based private equity firm Cyrus Capital Partners providing liquidity to Esken.

Companies: Carlyle Group Inc

Thoma Bravo raises the value of the deal with Everbridge to $1.8 billion

Mar 4 | AK&M

AK&M 04 March 2024 09:11 The American investment company Thoma Bravo and Everbridge Inc., an enterprise software development company, have agreed on new terms of the merger, providing for an increase in the value of the transaction from $1.5 billion to $1.8 billion. This is reported in a press release Thoma Bravo.

Companies: Everbridge Inc, Thoma Bravo LLC

Bain Capital may repeat its attempt to acquire SoftwareONE

Mar 5 | AK&M

Bain Capital is interested in acquiring SoftwareONE

Companies: Bain Capital LP, Softwareone Holding AG

General Atlantic makes majority investment in Plusgrade

Mar 5 | Private Equity Wire

Global growth investor General Atlantic has made a majority investment in Plusgrade, a provider of ancillary revenue solutions for the global travel industry, in a deal that sees Novacap fully exit its stake while another existing investor, CDPQ, remains a significant shareholder.

Companies: General Atlantic LLC

KKR, Carlyle and CVC looking to bag Samsonite deal

Mar 8 | Private Equity Wire

TOP STORY: A number of big-name buyout firms including Carlyle Group, CVC Capital Partners and KKR have all shown preliminary interest in striking a take-private deal to acquire Hong Kong-listed luggage maker Samsonite International, according to a report by Bloomberg.

Companies: Carlyle Group Inc, Samsonite International SA

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MIDDLE MARKET PRIVATE EQUITY?

MiddleGround Capital Completes Acquisition of Spain-Based Global Engineering Service Provider IT8

Mar 7 | GlobeNewswire

LEXINGTON, Ky., March 07, 2024 (GLOBE NEWSWIRE) -- MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American and European headquartered middle market B2B industrial and specialty distribution companies, today announced that it has acquired IT8 (“the Company''), a leading independent engineering services company offering mechanical, electrical, programming, and construction services.

European Investment Bank - Germany-based Sunfire gets up to €100 million in EIB support for green hydrogen

Mar 6 | Electric Energy Online

Highlights The EIB`s venture-debt loan facilitates Sunfire`s development for solid oxide electrolysers for green hydrogen production in industrial settings The technology contributes towards E. . .

Companies: SunFire GmbH

PSG Equity, TA Associates and Verdane Refinance Portfolio Company Hornetsecurity for Acquisition of Vade

Mar 5 | Goodwin Procter

The European Debt Finance team advised a consortium of investors comprising PSG Equity, TA Associates, and Verdane in connection with the refinancing of the existing debt facilities of their portfolio company Hornetsecurity and the acquisition of Vade. PSG Equity, based in Boston, MA, is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong...

France’s Ardian targets €5bn for new private credit fund

Mar 4 | Peer2Peer Finance News

French alternative asset manager Ardian is looking to raise at least €5bn (£4.3bn) for its sixth private credit fund. The Paris-headquartered firm’s private credit division, headed up by Mark Brenke, typically provides senior debt facilities to mid-sized companies. It focuses on defensive industries such as software. Read more: Private debt’s inherent liquidity attracts evergreen managers [...] The post France’s Ardian targets €5bn for new private credit fund appeared first on Alternative Credit Investor.

Companies: Ardian

Carlsquare advised IK Partners on its investment in Schwingshandl

Mar 5 | Carlsquare

Carlsquare advised IK Partners (“IK”) on the investment of the IK Small Cap III Fund in Schwingshandl. IK is partnering with the companies’ founders, Thomas Schwingshandl and Enrico Larcher, who will both retain a significant minority share in the company. Founded in 2003 and headquartered near Linz, Austria, Schwingshandl provides innovative, made-to-measure automation solutions for a broad range of end-market applications.

Germany: EIB signs €100M deal to support Sunfire produce green hydrogen

Mar 5 | Devdiscourse

The European Investment Bank (EIB) is teaming up with private investors to support the development of innovative electrolysis technologies needed for Europe`s green transition. With the Germany-based Sunfire, the EU-Bank has signed a first agreement worth up to €100 million to advance Sunfire`s solid oxide electrolysers towards serial production.

Companies: SunFire GmbH

IK Partners to invest in Checkmate Fire

Mar 5 | Private Equity Wire

European mid-market private equity firm IK Partners's IK Small Cap III Fund is to acquire UK passive fire protection specialist Checkmate Fire from Leeds-based private equity firm YFM Equity Partners in the first investment from the fund’s dedicated pool of development capital.

ECD International Holding GmbH beteiligt sich an der Social Media Content Creation Agentur ReachCon GmbH

Mar 4 | Beyond Capital Partners

Der von der Beteiligungsgesellschaft Beyond Capital Partners GmbH (?BCP“) beratene Beyond Capital Partners Fund III hat sich über deren Portfolio-Beteiligung ECD International Holding GmbH (?ECD“) im Rahmen des Erwerbs einer Mehrheit an der in Hamburg ans?ssigen ReachCon GmbH (?ReachCon“) beteiligt. Das Closing erfolgte zum 01. M?rz 2024. ReachCon wurde 2020 gegründet und ist eine Full-Service Social Media Content Creation Agentur, die Marken mit jungen Zielgruppen über Live Stream Marketing, Influencer Events und Social Media verbindet. Die Agentur verfügt über Deutschlands gr??tes Content Creator Netzwerk mit über 2.

Companies: Beyond Capital Partners GmbH

Ex-TPG exec Michael Abel picks up institutional investor capital to launch new Europe-focussed investor Greykite

Mar 8 | AltAssets

Former TPG executive Michael Abel has launched a new PE advisory firm in the UK capital with backing by major institutional investors. The post Ex-TPG exec Michael Abel picks up institutional investor capital to launch new Europe-focussed investor Greykite first appeared on AltAssets Private Equity News.

Industry expert Frank Riemensperger to advise Swiss cloud and modern workplace provider, Netrics, as Chairman of the Advisory Board

Mar 8 | Bregal Unternehmerkapital

The Netrics Holding AG (“Netrics” or the “Company”), a leading Swiss cloud and modern workplace provider, today announced that Frank Riemensperger, a long-standing...

Companies: Accenture PLC, Bregal Unternehmerkapital GmbH

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TECH M&A & INVESTMENT?

Accenture Completes Acquisition of Customer Experience Analytics Company GemSeek

Mar 9 | Accenture

SOFIA, Bulgaria; March 8, 2024 – Accenture (NYSE: ACN) has completed its acquisition of GemSeek, a leading customer experience analytics provider helping global businesses understand customers through insights, analytics and AI-powered predictive models. The acquisition underscores ongoing investment by Accenture Song—the world’s largest tech-powered creative group—in data and AI capabilities to help clients grow their business and sustain relevance with customers.

Companies: Accenture PLC

Swisscom acquires open-source specialist Camptocamp

Mar 8 | Startupticker.ch

Swisscom becomes the new majority shareholder of Camptocamp, with 190 employees one of the leading Swiss developers and integrators of open-source solutions. Camptocamp will continue to operate as an independent company led by Founder and Managing Partner Luc Maurer.

Apollo’s West Technology calls for initial bids in TeleVox sale

Mar 8 | Mergermarket

West Technology Group, a diversified communication services company backed by Apollo Global Management [NYSE:APO], is collecting initial bids this week for the sale of its TeleVox Software division, according to three sources familiar with the matter. Confidential information memorandum (CIMs) materials were sent out to a broad pool of potential bidders in January, according to the sources.

Companies: Apollo Global Management Inc

Fiserv reportedly in the running to acquire Shift4 Payments

Mar 6 | FinTech Futures

According to a recent Reuters report, final bids for a potential takeover are due to arrive in the coming weeks.

Companies: Amadeus IT Group SA, Shift4 Payments LLC

Razor Group acquires US Amazon aggregator Perch and announces Series D financing round

Mar 5 | FinanzNachrichten

Razor Group has acquired Perch, the leading Amazon aggregator in the US, solidifying its position as the global leader in the aggregation of online marketplace consumer brands.This acquisition pav...

Deel is Acquiring PaySpace, solidifying Deel as market leader in global payroll

Mar 5 | Africanews.it

Download logo Global HR company Deel (www.Deel.com ) announced today that it is acquiring African-based payroll and HR solution company PaySpace (www.PaySpace.com ) for an undisclosed amount. It is one of Deel’s largest acquisitions to date. PaySpace has more than 20 years of payroll technology experience, providing payroll engines and HR services in 44 countries across Europe, Latam, Middle [...] L'articolo Deel is Acquiring PaySpace, solidifying Deel as market leader in global payroll proviene da Africa News - News from Africa.

Companies: Deel Inc

Hornetsecurity Buys Vade to Fuel Strength in France, Germany

Mar 6 | Bank Information Security

Hornetsecurity purchased French email security vendor Vade to expand its geographic footprint and protection capabilities around Microsoft 365 for small and midsized businesses. The acquisition of Vade will allow the joint company to have a strong presence in Europe's two most important markets.

Companies: Hornetsecurity Ltd, Microsoft Corp

Cisco Set to Receive EU Antitrust Approval for $28 Billion Splunk Acquisition

Mar 5 | Competition Policy International (CPI)

Cisco Systems, the renowned technology conglomerate, is on the cusp of securing unconditional approval from the European Union’s antitrust authorities for its monumental $28 billion acquisition of cybersecurity firm Splunk. Two individuals familiar with the matter revealed this development on Tuesday, shedding light on the latest progress in the high-stakes deal.

Companies: Cisco Systems Inc, Splunk Inc

M&A-Deals: Fresenius Medical Care, Bayer, Evonik

Mar 8 | Finance Magazin

Fresenius Medical Care verkauft seine Dialysekliniken in Südamerika, Bayer kauft ein Herzmedikament und Evonik ver?u?ert sein Superabsorber-Gesch?ft: Die spannendsten M&A-Deals der Woche.

Companies: Fresenius Medical Care AG & Co. KGaA

CryptoBlox Signs Share Purchase Agreement to Acquire Blockchain Fintech

Mar 5 | The Canadian Press

Strong share price allows the Company to secure a strategic and accretive acquisition to fuel growth and complete its Diversified Blockchain Ecosystem Vancouver, B.C., March 05, 2024 (GLOBE NEWSWIRE) -- CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX) is pleased to announce that it has entered into a share purchase agreement, dated effective March 4, 2024 (the “Agreement”), to acquire (the “Acquisition”) Blockchain Fintech Unipessoal LDA (“Blockchain Fintech”), a...

Companies: Cryptoblox Technologies Inc

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GROWTH TECH & VC SPOTLIGHT

Fabric, backed by General Catalyst and GV, plots rapid growth

Mar 9 | FierceHealthcare

Fabric says it's now working with 70 health systems and payers, and its customers include Luminis Health, OSF HealthCare, MUSC Health and Intermountain. (Fabric) Fabric, formerly known as Florence, officially launched out of stealth about a year ago and has rapidly built out its tech that automates clinical and administrative work in healthcare.

Companies: Alphabet Inc, General Catalyst Partners LLC, GV

Over $1.3bn raised this week in 34 FinTech deals, as CyberTech dominates

Mar 8 | Fintech Global

CyberTech companies accounted for the lion’s share of FinTech deals this week, accounting for 11 of the total 34 deals. Not only did the CyberTech sector do well in terms of the total number of deals, it also accounted for more than half of the total capital that was raised this week. The sector amassed a combined total of $850.6m, including six of the ten biggest deals.

Companies: Alphabet Inc, Axonius Inc, CapitalG LP, Claroty Ltd, FinTech Global Inc, GV, Monzo Bank Ltd, Overjet Inc, Synctera Inc

Mistral und Microsoft: Europ?ische Start-ups sollten sich mit Big Tech verbünden

Mar 8 | Manager Magazin

Das KI-Start-up Mistral hat mit seinem Deal mit Microsoft einen Aufschrei in der EU ausgel?st. Investorin Katharina Wilhelm, deren Fonds Index Ventures selbst bei Mistral investiert hat, streitet dagegen für eine Verbrüderung mit Big Tech.

Companies: Microsoft Corp

Microsoft and Mistral AI's Multi-Million Euro Partnership to Reshape AI Landscape, New Challenger to OpenAI's Dominance

Mar 3 | TechTimes

Microsoft is doubling down on its commitment to artificial intelligence (AI) innovation. Beyond its substantial investments in OpenAI and the integration of AI into products like Copilot in Windows 11, the tech giant is extending its influence to a new contender in the AI landscape: French startup Mistral AI.

Companies: Microsoft Corp, OpenAI LLC

The New Age of Cybersecurity Company Founders

Mar 7 | Glilot Capital Partners

The Israeli cybersecurity industry has matured significantly over the last ten years. The mindset of a quick exit has shifted, and founders are focused instead on building more scalable businesses. Now more than ever, cybersecurity entrepreneurs in Israel are looking to build longer-standing independent companies that can grow to become unicorns or even go all the way to an IPO.

Companies: CyberArk Software Ltd, Glilot Capital Partners

Flush with cash, French fintech unicorn Qonto acquires Regate

Mar 7 | TechCrunch

While many entrepreneurs are currently facing the harsh reality of a VC funding crunch, Qonto isn’t one of them. The Paris-based business banking startup still has hundreds of millions of cash on hand. And it is using an undisclosed portion of its cash reserve to acquire Regate, an accounting and financial automation platform. Qonto originally [...] ? 2024 TechCrunch. . For personal use only.

Companies: OLINDA SAS

Crowdstrike to acquire Flow Security

Mar 6 | Cybersecurity Insiders

CrowdStrike, an American cybersecurity technology company, has officially announced its acquisition of the Israel-based startup ‘Flow Security’ for $200 million. Flow Security is known as the world’s sole provider of cloud data runtime security solutions, uniquely safeguarding data both at rest and in motion. The acquisition of Flow Security’s data security posture management technology by [...] The post Crowdstrike to acquire Flow Security appeared first on Cybersecurity Insiders.

Companies: Crowdstrike Holdings Inc, Flow Security Ltd

Swisscom erwirbt Mehrheitsbeteiligung an Open-Source Spezialist Camptocamp

Mar 7 | Swisscom

Swisscom wird neue Mehrheitseigentümerin von Camptocamp, einem der führenden Schweizer Unternehmen in der Entwicklung und Integration von Open-Source-L?sungen. Die Kombination des Swisscom Portfolios mit der Open-Source-Expertise von Camptocamp erm?glicht ein noch st?rker auf die Bedürfnisse von Schweizer Unternehmen zugeschnittenes Portfolio an IT-Dienstleistungen.

Companies: Swisscom AG

Microsoft, Walmart Back Israel VC’s $500 Million in Fund Raising

Mar 5 | BNN Bloomberg

Israel-based venture capital firm Team8 raised $500 million from investors including Microsoft Corp., Walmart Inc. and Cisco Systems Inc., for funds that will focus on local startups.

Companies: Microsoft Corp, Moody's Corp, Team8 Labs Ltd, Walmart Inc

Two Swiss startups take digital trust to the next level

Mar 7 | Startupticker.ch

Swiss startups are breaking new grounds in digital trust and privacy-preserving tech. Digital identity solutions leader PXL Vision is collaborating with Idiap to develop a deepfake detection solution. Tune Insight, the leading sensitive data collaboration expert, is integrating LLMs into its product and partnering with EPFL to develop federated, privacy preserving LLM capabilities.

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INSIDER SCOOP & MARKET BUZZ

Bobby Kotick Wants To Buy TikTok As Potential Ban Looms

Mar 10 | Forbes

There is a real possibility that the US government will pass legislation that China’s ByteDance must divest itself from TikTok or risk being banned in the US entirely.

Companies: ByteDance Ltd, TikTok Inc

ByteDance TikTok divestment bill would give government stronger legal position, US DOJ says

Mar 8 | Reuters

The U.S. Justice Department told Congress the government would be in a stronger legal position if lawmakers ordered China's ByteDance to divest TikTok rather than simply banning the short video app.

Companies: ByteDance Ltd, TikTok Inc

Saudi Telecom Submitted Highest Bid for Altice Portugal

Mar 8 | BNN Bloomberg

Saudi Telecom Co. has emerged as the highest bidder for Altice’s Portuguese business, a key divestment for tycoon Patrick Drahi as he seeks to pare debt at his telecom empire, people with knowledge of the matter said.

Companies: Altice Europe NV, Altice Portugal SA, Saudi Telecom Company

IOH expands fibre partnership with Netcracker amid sale rumours

Mar 8 | Capacity Magazine

Under the terms of an MoU signed last week at MWC Barcelona, IOH will modernise its IT infrastructure by using the Netcracker Digital BSS portfolio. This will allow the Indonesian network operator to better address the needs of its rapidly growing business, which has seen subscriber numbers increase by a multiple of ten.

Companies: Netcracker Technology Corp

Partners considers sale of German renewables firm VSB, sources say

Mar 8 | Reuters

Partners Group is exploring options, including a sale, FOR German renewable energy company VSB Group, six sources familiar with the matter said.

Carrier to sell industrial fire business in $1.43 bln deal

Mar 5 | Reuters

Carrier will sell its Industrial Fire division to Sentinel Capital Partners in a $1.43 billion deal, the company said on Tuesday, pressing ahead with the divestment of non-core assets to focus on heating and cooling equipment businesses.

Novo Nordisk seeks acquisitions to boost obesity, diabetes pipeline

Mar 8 | Reuters

Novo Nordisk will prioritise acquisitions that can complement its pipeline of obesity and diabetes drugs rather than buying supply chain companies, the Danish group's head of business development told Reuters on Friday.

Companies: Novo Holdings AS, Novo Nordisk A/S, Novo Nordisk, Inc.

Carlyle, CVC, KKR Said to Be Among Buyout Firms Eyeing Samsonite

Mar 7 | BNN Bloomberg

Global buyout firms including Carlyle Group Inc. and KKR & Co. have shown preliminary interest in a potential takeover of Samsonite International SA, according to people familiar with the matter.

Companies: Carlyle Group Inc, CVC Capital Partners, Kohlberg Kravis Roberts & Co, Samsonite International SA

EG Group in talks to sell some UK assets to co-founder Zuber Issa

Mar 6 | The Financial Times

EG Group is in talks to offload some UK assets to billionaire co-founder Zuber Issa in what the company told investors was an attempt to reduce the debt pile of its petrol-station empire. The group — co-owned by brothers Mohsin and Zuber Issa and private equity firm TDR Capital — told investors on Monday that it “continued to have active discussions” with Zuber about divesting some assets in the UK and Ireland, with plans to strike a deal “in the near term”.

Companies: ASDA Group Ltd, EG Group Ltd, Walmart Inc

EU executive calls on EIB to start funding defence projects

Mar 5 | Reuters

The European Commission called on the European Investment Bank on Tuesday to change its policy this year to enable it to fund defence projects, as Europe seeks to urgently increase defence production to prepare for potential Russian aggression.

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