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SATS, an Asia's provider of food solutions and gateway services, agreed to acquire Worldwide Flight Services, an air cargo logistics provider and providers of ground handling and technical services, from Cerberus Capital, a private equity firm, for for €2.25bn ($2.16bn).
“This is a transformational opportunity for SATS and our proposed acquisition of WFS will create a global leader that can become the go-to provider of mission critical aviation services. From our hub in Singapore, and in our newly combined markets, SATS and WFS will be at the heart of global trade flows, operating in the world’s busiest airports and supporting the biggest companies," Kerry Mok, SATS President and CEO.
Worldwide Flight Services is advised by Goldman Sachs , Linklaters and Deloitte . SATS is advised by Bank of America , DBS Bank , PwC , Accura (led by Kaare Stolt ), Allen & Gledhill , Latham & Watkins (led by?Sharon Lau ) and FGS Global (led by Richard Barton and Ben Richardson ).
LiveWire, Harley-Davidson's electric motorcycle division, went public via a SPAC merger with AEA-Bridges Impact in a $1.77bn deal. Investors in PIPE included Harley-Davidson and KYMCO.
"We are at the confluence of two seminal shifts impacting the industry – vehicle electrification and sustainability. LiveWire is well-positioned to become the premier sustainable electric motorcycle brand and redefine the industry by leveraging the manufacturing and distribution expertise of Harley-Davidson and KYMCO. We're excited to partner with Harley-Davidson and the LiveWire team to help define the future of electric motorcycles as the industry continues its rapid transformation," John Garcia, AEA-Bridges Impact Chairman and Co-CEO.
Harley-Davidson was advised by JP Morgan , Latham & Watkins (led by Jason Morelli and Ryan Maierson ) and Sard Verbinnen & Co . AEA-Bridges Impact was advised by Citigroup , Credit Suisse , Davis Polk & Wardwell (led by Derek Dostal ), Kirkland & Ellis (led by Joshua Kogan and Melissa Kalka ) and Joele Frank (led by Jonathan Keehner ).
EQT, a private equity firm, agreed to acquire Billtrust, a B2B accounts receivable automation and integrated payments provider, for $1.7bn.
“This transaction marks the beginning of an exciting new chapter for Billtrust, our customers and employees while providing shareholders an immediate and substantial cash value with a compelling premium. We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position," Flint Lane, Billtrust Founder and CEO.
EQT is advised by Evercore and Weil Gotshal and Manges (led by Robert Rizzo ). Billtrust is advised by JP Morgan and Davis Polk & Wardwell . JP Morgan is advised by Sullivan & Cromwell (led by Melissa Sawyer ).?
23 First Nation and Métis communities to acquire a 11.57% stake in seven pipelines in Athabasca from Enbridge, a firm that owns extensive midstream assets that transport hydrocarbons, for $1.12bn.
"We are very pleased to be joining our Indigenous partners in this landmark collaboration. We believe this partnership exemplifies how Enbridge and Indigenous communities can work together, not only in stewarding the environment, but also in owning and operating critical energy infrastructure. We are looking forward to working with the Aii and deepening our relationship well into the future. This also fully aligns with our priority to recycle capital at attractive valuations, which can be used to fund numerous growth opportunities within our conventional and low carbon platforms," Al Monaco, Enbridge President and CEO.
Enbridge is advised by BMO Capital Markets and Torys . Athabasca Indigenous Investments is advised by RBC Capital Markets , Boughton Law and CIPR Communications.
Semtech, a semiconductor products provider, confirmed that the security holders of Sierra Wireless, a wireless communication equipment designer and provider, have approved the $1.2bn acquisition of all of the outstanding shares of Sierra Wireless.
The arrangement is subject to antitrust and competition approvals in the US and Canada, respectively, the approval of the Supreme Court of British Columbia, and other customary closing conditions. The Court hearing for the final order to approve the arrangement is scheduled to take place on September 29, 2022, and the completion is expected to occur in the company's fiscal year 2023.
Semtech is advised by JP Morgan , O'Melveny & Myers (led by?Eric Zabinski and Andy Terner )?and Stikeman Elliott (led by John Leopold and David Massé ). JP Morgan is advised by Sullivan & Cromwell (led by Alison S. Ressler and Matthew Goodman ). Sierra Wireless is advised by BMO Capital Markets , Qatalyst Partners , Blake Cassels & Graydon , Skadden Arps Slate Meagher & Flom (led by June Dipchand and Richard Grossman ) and Joele Frank .
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