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Liberty Mutual weighs $1bn sale of Europe business.?
Binance mulls $1bn recovery fund for distressed assets.
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Private equity firms Astorg and Epiris completed the acquisition of Euromoney Institutional Investor, one of Europe's largest business and financial information companies which has interests in business and financial publishing and event organization, for ￡1.66bn.?
"The Board believes the offer represents value for shareholders and reflects the attractions of Euromoney's business model and performance. I would like to recognise the exceptional contribution of our people. Their insight, talent and innovation has driven our successful transition to a fast-growing, high margin, 3.0, information-services business," Leslie Van de Walle, Euromoney Chair.
Euromoney was advised by Deutsche Numis Securities (led by Mark Lander ), 高盛 (led by Khamran Ali ), 瑞银集团 (led by Jonathan Retter ), 富而德律师事务所 (led by? Rhys Evans and? Oliver Lazenby ) and FTI Consulting (led by Jamie Ricketts ). Astorg was advised by 美国银行 (led by Geoff Iles ), Raymond James (led by Stuart Sparkes ), Latham & Watkins (led by? Richard Butterwick ?and? Paul Dolman ) and Greenbrook ?(led by Rob White ).?Financial advisors were advised by Norton Rose Fulbright (led by? Paul Whitelock ).
JSC Kopernik-Invest 3, a special purpose acquisition company, agreed to acquire Russian operations of VEON, a Dutch-domiciled multinational telecommunication services company, for $2.1bn.
“After considering numerous options, I am confident that the agreed sale of VEON’s Russian operations to the VimpelCom management team represents an optimal solution for VEON, its Russian operations and the stakeholders of both companies, including customers, shareholders and creditors, as well as employees both in and outside of Russia. VEON is committed to ensuring the transaction is seamless for staff and customers in Russia, with no disruption to the services currently provided,” Kaan Terzio?lu, VEON Group CEO.
VEON is advised by TUVA Partners.
Mitsubishi UFJ Financial Group, financial services company, and Krungsri, a banking services provider, agreed to acquire the Philippines and Indonesian operations of Home Credit, a consumer finance provider, for €615m ($636m).?
Krungsri and MUFG Bank to purchase 75% and 25% respectively of Home Credit Philippines for a valuation of €406m ($419m). Krungsri, MUFG and a local Indonesian investor to purchase 75%, 10%, and 15%, respectively of Home Credit Indonesia for a valuation of €209m ($217m).
“Home Credit launched around ten years ago in both the Philippines and Indonesia. It is now the right time for us to pass the baton onto new shareholders who can accelerate growth for these two exciting businesses as they approach this new phase. Both of these markets have played key roles in Home Credit and we will be watching their future with pride and interest," Jean-Pascal Duvieusart, Home Credit CEO.
Liberty Mutual weighs $1bn sale of Europe business.?
Liberty Mutual Insurance Mutual is exploring a sale of its businesses in Spain, Portugal and Ireland, joining other American insurers retreating from the region.
The US insurer is working with 美国银行 on the possible divestments, which could fetch more than €1bn ($1bn). The assets could attract interest from rival European insurers,?Bloomberg?reported.
Binance mulls $1bn recovery fund for distressed assets.?
Cryptocurrency exchange Binance is aiming for a roughly $1bn fund for the potential purchase of distressed assets in the digital sector, citing an interview with Chief Executive Officer Changpeng Zhao,?DealStreetAsia?reported.
Zhao hinted at the possibility of allocating more funds in the interview. Zhao said while speaking at a conference in Abu Dhabi that there was significant interest from industry players in a recovery fund his company plans to launch to help cryptocurrency projects facing a liquidity squeeze, following the collapse of rival FTX.
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