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Cigna announces $3.5bn accelerated stock repurchase agreements.
HGGC closes Fund IV at over $2.5bn. (FS)
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Capital & Counties Properties, a United Kingdom-based property investment and development company, agreed to merge with Shaftesbury, a British real estate investment trust, in a ￡3.5bn ($4.2bn) deal.
"As the retiring Chairman of Capco, I am delighted by the prospects offered by the proposed merger with Shaftesbury to shareholders as London's West End continues its recovery. I have every confidence in the ability of the combined management and Board of Shaftesbury Capital to deliver sustainable value growth for shareholders and benefits for broader stakeholders from its unique portfolio of properties," Henry Staunton, Capco Chairman.
Shaftesbury is advised by Blackdown Partners, Evercore, JP Morgan, Liberum Capital, Hogan Lovells , MHP Communications and RMS Partners. Capital & Counties Properties is advised by Peel Hunt, Jefferies & Company, Rothschild & Co, UBS, Herbert Smith Freehills , Hudson Sandler and Instinctif Partners. Debt financing is provided by BNP Paribas, Barclays, HSBC and Java Capital.
The CEO of 26 Capital Acquisition, a special purpose acquisition company, said on Wednesday the blank-check firm was committed to its $2.5bn purchase of the Philippines' biggest integrated casino-resort, despite a wrangle for control involving current owners.
The 44-hectare Okada Manila, owned by subsidiaries of Japan's Universal Entertainment, agreed in October to go public in the United States through a merger with 26 Capital. But the deal has become mired in a long-running dispute between Universal and its deposed chairman and founder, Kazuo Okada, Reuters reported.
Okada Manila is advised by Baker McKenzie . 26 Capital is advised by Schulte Roth & Zabel .
TELUS, a telecommunications company, agreed to acquire LifeWorks, a human resources services and technology company, for $2.2bn.
“The Transaction represents an exciting new chapter for LifeWorks. The combination of TELUS Health and LifeWorks represents an unmatched opportunity to create a leader in employer-focused primary and preventative digital healthcare and wellness solutions on a global basis. Together, we will accelerate our shared vision of empowering individuals to live their healthiest lives by unifying the continuum of care through digital-first innovations, as well as our unmatched in-person care. Our two organizations also have shared values and are leading, purpose-driven organizations committed to improving the lives of people around the world. The fit for the LifeWorks team couldn’t be better," Stephen Liptrap, LifeWorks President and CEO.
LifeWorks is advised by BMO Capital Markets, Goldman Sachs and Osler Hoskin & Harcourt . TELUS is advised by CIBC World Markets, Clifford Chance and Stikeman Elliott.
Cigna announces $3.5bn accelerated stock repurchase agreements.
Global health services company Cigna will repurchase $3.5bn of common stock through accelerated stock repurchase agreements with Mizuho Markets Americas and Morgan Stanley. The ASRs are part of Cigna's existing share repurchase program, which had remaining authority of approximately $8.8bn.
"This accelerated share repurchase is part of our ongoing commitment to return significant value to our shareholders. Our ability to execute against our capital deployment priorities is a testament to the ongoing growth and strength of our businesses and our ability to generate strong cash flow. When combined with our previously completed share repurchases, we remain on track to repurchase at least $7bn of our shares in 2022," David M. Cordani, Cigna Chairman and Chief Executive Officer.
HGGC closes Fund IV at over $2.5bn. (FS)
HGGC, a middle-market private equity firm with a sector-focused approach, announced it has completed fundraising for HGGC Fund IV with $2.54bn of capital commitments. Fund IV exceeded its $2.25bn target and continued to diversify its global limited partner base, including a significant commitment from the General Partner and its affiliates, who collectively remain the largest investor across all HGGC funds, ensuring strong alignment of interests.?
“We are very proud of this successful fundraise and the results generated by our funds in the context of a highly uncertain macroeconomic environment, all while significantly growing the firm and maintaining focus on the fundamentals of our investment approach. We thank all of our new and returning investors in Fund IV for their trust and confidence in our team, and we are more excited than ever about HGGC’s future,” Rich Lawson, HGGC Co-Founder and CEO.
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