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Volvo-backed Polestar went public via a SPAC merger with Gores Guggenheim in a $20bn deal. (Financial Sponsors)
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Volvo-backed Polestar, a global electric performance car company, went public via a SPAC merger with Gores Guggenheim in a $20bn deal.
"This is a hugely proud moment for the entire team at Polestar. We will now open a new chapter in our story that can be summarised in one word – growth. By 2025 we aim to be selling 290k cars per year, 10 times as many as we sold in 2021. We already have a real and successful business; this listing gives us the funds and platform to help deliver our ambitious future plans and drive industry-leading sustainability goals forward," Thomas Ingenlath, Polestar CEO.
Polestar is advised by Citigroup, Kirkland & Ellis, WongPartnership and Tulchan Communications. Gores Guggenheim is advised by Barclays, Citigroup, Deutsche Bank, Guggenheim Partners, Morgan Stanley, Hannes Snellman and Weil Gotshal and Manges. Financial advisors are advised by Latham & Watkins and Sullivan & Cromwell.
Rogers Communications, Shaw Communications and Canada's competition bureau agreed to start a mediation process to overcome the agency's antitrust issues posed by Rogers' $15.5bn acquisition of Shaw,?Reuters?reported.
The parties will argue their case before a tribunal judge during the mediation process, who will offer possible solutions to resolve the dispute. If the parties agree to the solutions proposed by the judge then they could sign a consent agreement that would pave way for clearing the deal.
Shaw Communications is advised by CIBC World Markets, TD Securities, Burnet Duckworth & Palmer, Davies Ward Phillips & Vineberg, Dentons and Wachtell Lipton Rosen & Katz. Financial advisors are advised by Osler Hoskin & Harcourt. Rogers Communications is advised by Bank of America, Barclays, Cravath Swaine & Moore, Goodmans and Torys. Financial advisors are advised by Davis Polk & Wardwell, Latham & Watkins and McCarthy Tetrault.
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Hellman & Friedman and Permira-led consortium to acquire Zendesk, a customer experience software company, for $10.2bn, with participation from Abu Dhabi Investment Authority and GIC.
"Over the past 15 years, Zendesk has revolutionized how companies serve their customers and has become a leading platform within the customer experience ecosystem. We deeply believe in the company's growth opportunity as it continues to help businesses across the world delight their customers," Tarim Wasim, Hellman & Friedman Partner.
Zendesk is advised by Goldman Sachs, Qatalyst Partners, Wachtell Lipton Rosen & Katz and Sard Verbinnen & Co. Goldman Sachs is advised by Sullivan & Cromwell. Permira is advised by Sard Verbinnen & Co. Hellman & Friedman is advised by Finsbury Glover Hering and Kirkland & Ellis. The consortium is advised by Fried Frank Harris Shriver & Jacobson, Morgan Stanley and Simpson Thacher & Bartlett.
Blackstone, an alternative asset manager, completed the acquisition of Crown Resorts, a casino operator, for $6.3bn.
"We are thrilled to become the new owner of Crown, bringing our expertise in hospitality to help the company achieve its full potential as a leading travel and leisure company. We first invested in Crown two years ago, seeing the tremendous underlying potential of the company and its people. We look forward to working with the teams at Crown and applying our experience in owning and operating marquee hospitality brands around the globe with the highest levels of ethics and integrity to create something unique for employees, local communities, and visitors," Alan Miyasaki, Blackstone Head of Real Estate Acquisitions Asia.
Crown Resorts is advised by UBS, Allens and Herbert Smith Freehills. Star Entertainment is advised by Credit Suisse, Flagstaff Partners and King & Wood Mallesons. Debt financing is provided by Credit Suisse. Blackstone is advised by Citigroup, Morgan Stanley, Clayton Utz and Simpson Thacher & Bartlett. Consolidated Press is advised by Moelis & Co.
Blackstone Real Estate Income Trust, a real estate investment platform, completed the acquisition of Preferred Apartment Communities, a real estate investment trust, for $5.8bn.
"We are pleased to complete this acquisition on behalf of our BREIT investors and welcome the talented PAC team to Blackstone. Inclusive of this transaction, approximately half of BREIT's portfolio comprises residential properties largely located in the West and South regions of the US, which are seeing robust demand and stable occupancy. PAC's portfolio of high-quality multifamily in key SunBelt markets and grocery anchored retail centers is a complementary addition to BREIT's portfolio of stabilized, income-generating assets, and we look forward to being long-term owners of these properties," Jacob Werner, Blackstone Real Estate Co-Head of Americas Acquisitions.
PAS is advised by Goldman Sachs, KeyBanc Capital Markets, King & Spalding, Vinson & Elkins and Longacre Square Partners. Blackstone is advised by Bank of America, JLL Corporate Finance, Lazard, Wells Fargo Securities, Simpson Thacher & Bartlett and Joele Frank.
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