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Hellman-backed NPD is in talks to buy IRi in a $5bn deal. (FS)
Bank of China plans to set up $4.7bn fund of funds to invest in tech innovations.?
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Royal Bank of Canada, a multinational financial services company, agreed to acquire Brewin Dolphin Holdings, a provider of wealth management services, for $2.1bn.
"This is a transformative acquisition for RBC Wealth Management and cements RBC's position as a market leader across multiple business platforms in the UK, the Channel Islands and Europe. We look forward to welcoming Brewin Dolphin's employees and clients and working together to leverage RBC's global reach and significant capabilities to create new opportunities for the combined business to grow," David Thomas, RBC Capital Markets CEO.
Brewin?Dolphin is advised by Barclays, Lazard, Liberum Capital, Travers Smith and Camarco. Royal Bank of Canada is advised by RBC Capital Markets and Norton Rose Fulbright .
Novibet, an established and profitable technology-enabled operator, agreed to go public via a SPAC merger with Artemis Strategic Investment, a publicly traded special purpose acquisition company, in a $625m deal.
“Novibet has a strong record of success developing a superior technical platform to address the global iGaming opportunity in a manner that delivers profitable financial performance and positive cash flow. This record, combined with its demonstrated ability to successfully and profitably enter new markets as well as the significant opportunity to leverage its competitive advantages in new markets, including in North America, aligns with our original investment thesis and makes Novibet an ideal partner for Artemis,” Holly Gagnon, Artemis Chairperson and Co-CEO.
Novibet is advised by Oakvale Capital and Harris Beach . Artemis Strategic Investment is advised by Barclays, White & Case , Wiggin and JCIR.
Bain Capital, a private equity firm, agreed to acquire a 25% stake in IIFL Wealth Management, a non-bank wealth manager, from financial services firms General Atlantic and Fairfax, for $491m.
“The company is well poised to benefit from secular tailwinds of wealth creation in the economy, greater financialisation, and increasing penetration of formal wealth management. We look forward to working with the team on the next phase of IIFL Wealth’s growth journey," Pawan Singh, Bain Capital Managing Director.
Bain Capital is advised by Axis Capital and NovaDhruva. Fairfax and General Atlantic are advised by JP Morgan.
Hellman-backed NPD is in talks to buy IRi in a $5bn deal. (FS)
Hellman-backed NPD Group, an American market research company, is in talks to acquire Information Resources, a data analytics and market research company,?Bloomberg? reported.?
NPD is speaking to direct lenders about financing a bid valuing IRi at more than $5bn, including debt. CC Capital Partners, a private investment firm, had been in talks to buy the company, but discussions fell through.
Bank of China plans to set up $4.7bn fund of funds to invest in tech innovations.?
Bank of China, a state-owned commercial bank in China, plans to set up a $4.7bn fund of funds to invest in technological innovations in the country.
BOC Capital, a wholly-owned subsidiary of investment bank and securities brokerage firm BOC International China – a part of Bank of China – plans to invest $110m in the new fund.
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