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Adani pledges stake worth $13bn in new Indian cement units.
Neuberger Berman raises $4.9bn for global PE secondary fund. (FS)
Singapore allocates $1bn to global credit fund managers in a bid to become private markets hub. (FS)
A federal judge Monday ruled against a Justice Department antitrust challenge to UnitedHealth Group's $13bn acquisition?of health-technology firm Change Healthcare, rejecting government claims that the deal would unlawfully suppress competition and limit innovation in health-insurance markets,?WSJ?reported.
US?District Judge Carl Nichols ruled for the companies in an opinion that he kept under seal for now because he said it “may contain competitively sensitive information.” The judge said he would release a redacted public version of the ruling in the coming days. He denied the Justice Department’s request to block the companies from completing the deal in a one-page public order.
Change Healthcare is advised by Morrow Sodali Global, Barclays, Goldman Sachs, Simpson Thacher & Bartlett?(led by Eric Swedenburg) and Brunswick Group (led by Jonathan Doorley ). Optum is advised by Bank of America (led by Ivan Farman)?and Hogan Lovells (led by Leigh Oliver). UnitedHealth Group is advised by Cleary Gottlieb Steen & Hamilton and Sullivan & Cromwell (led by Melissa Sawyer and Keith A. Pagnani). Blackstone is advised by Ropes & Gray.
Walgreens Boots Alliance, an integrated healthcare, pharmacy and retail firm, agreed to acquire the remaining 30% stake in Shields Health Solutions, a specialty pharmacy company, for $1.4bn.
"Our full acquisition of Shields will complete another major milestone as part of our consumer-centric healthcare strategy to drive sustainable long-term growth, and we are very pleased with our partnership and integration with Shields. We can now make further progress on our strategy through Shields' integrated model, increasing our value to health systems, expanding access to payor partners and supporting improved outcomes and lower costs," Roz Brewer, WBA CEO.
Shields Health Solutions is advised by Goodwin Procter, K&L Gates and Ropes & Gray. Walgreens Boots Alliance is advised by Sidley Austin.
Adani pledges stake worth $13bn in new Indian cement units.
Billionaire Gautam Adani's group pledged shares valued at about $13bn in two Indian cement firms just days after it?completed the acquisition from Holcim, reflecting the world's second-richest person's hunger for capital as his ports-to-power conglomerate expands rapidly,?Bloomberg?reported.
Stakes in two of those companies, about 57% of ACC and 63% in Ambuja Cements, have been encumbered "for the benefit of certain lenders and other finance parties," according to separate filings made to Indian stock exchanges by Deutsche Bank's Hong Kong branch.
Neuberger Berman raises $4.9bn for global PE secondary fund. (FS)
Neuberger Berman, a private, independent, employee-owned investment manager, has held the final close of NB Secondary Opportunities Fund V, the firm's fifth global private equity secondary fund at $4.9bn, surpassing its target of $3bn.?
SOF V's diverse investor base includes corporate and public pension plans, sovereign wealth funds, endowments, foundations, insurance companies, family offices, and high net worth individuals. Investors are global, including from North America, Europe, Asia and Latin America.
Singapore allocates $1bn to global credit fund managers in a bid to become private markets hub. (FS)
Singapore’s central bank will be allocating $1bn to top global private credit fund managers as part of the nation’s efforts to develop itself as a full-service private markets hub,?DealStreetAsia reported.
The move is part of an expansion of the private markets programme, which allocates investment mandates to private equity and infrastructure fund managers who commit to establishing or deepening their presence in Singapore, Ravi Menon, managing director of the Monetary Authority of Singapore, said at the SuperReturn Asia conference.
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