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Oman Investment Authority expects $1.3bn from divestments next year. (FS)
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西门子能源 , an energy company, formed by the spin-off of the former Gas and Power division of 西门子 Group, completed the acquisition of the remaining shares in Siemens Gamesa Renewable Energy, a Spanish-German wind engineering company, for $4.3bn.
"The full integration of SGRE is an important milestone for Siemens Energy's positioning as a driver of the energy transition from fossil to sustainable energy solutions. This will benefit customers, employees, shareholders, and ultimately society. It is critical that the deteriorating situation at SGRE is being stopped as soon as possible and the value-creating repositioning starts quickly. The Supervisory Board strongly supports the Executive Boards plans for the integration of SGRE," Joe Kaeser, Siemens Energy Chairman of the Supervisory Board.
Siemens Gamesa Renewable Energy was advised by 摩根士丹利 and Allen & Overy (led by? I?igo del Val ?and? Fernando Torrente ). Siemens Energy was advised by 美国银行 , J.P. 摩根 , Perella Weinberg , 普华永道 and 富而德律师事务所 . Financial advisors were advised by Clifford Chance (led by?Bettina Steinhauer) and Gleiss Lutz (led by? Christian Cascante ?and? Jochen Tyrolt ). Debt financing was provided by 美国银行 and J.P. 摩根 .
KKR completed the acquisition of ContourGlobal , a firm that develops, acquires, owns, and operates wholesale power generation businesses, for $2.14bn.
"ContourGlobal is an outstanding business with a strong portfolio of assets. The management team of ContourGlobal and our employees have delivered an excellent track record of developing and operating the portfolio, and notwithstanding the strong prospects for the business, the Board of ContourGlobal believes that the offer provides an opportunity for all shareholders to crystallise their investment in ContourGlobal at an attractive price. The Board of ContourGlobal welcomes KKR's intention to provide capital and operational expertise to support ContourGlobal's strategy, including accelerating investments in the energy transition," Craig A. Huff, ContourGlobal Chairman of the Board.
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ContourGlobal was advised by Evercore (led by?Julian Oakley), 高盛 (led by?Gonzalo García), Slaughter and May (led by? Roland Turnill ?and? Christian Boney ) and 博然思维集团 (led by? Charles Pretzlik ). KKR was advised by J.P. 摩根 (led by?Ina De), Simpson Thacher & Bartlett LLP (led by? Clare Gaskell ?and? Jiaying Zhang ) and Finsbury Glover Hering (led by? Faeth Birch ). JP Morgan was advised by Ashurst .
麦格纳国际 , a mobility technology company, agreed to acquire auto safety business of Veoneer from SSW Partners, a private equity firm, for $1.5bn.
"Magna is the right long-term home for Veoneer's Active Safety business. The combination of both businesses creates durable value and accelerates an already exciting growth trajectory for Veoneer's employees, products and customers. Until closing of the agreement, Veoneer continues to execute in its current structure with full focus on customer deliveries, new launches and continued innovation," Jacob Svanberg, Veoneer Chief Executive Officer.
SSW Partners is advised by Gladstone Place Partners (led by? Steven Lipin ). Veoneer is advised by Evercore , 摩根士丹利 , Baker Botts and Davis Polk & Wardwell LLP . Magna is advised by 花旗 and Sidley Austin LLP .
不凡帝范梅勒糖果中国有限公司 , an operator of a global confectionery company, agreed to acquire the gum business of 亿滋食品 , a provider of snacks, for $1.35bn.
"As we continue progressing our Vision 2030 focus and acceleration strategy, doubling down on our core snacking categories, we are pleased to transition our developed market gum business to a values-led, family-owned company whose portfolio is a strategic fit, and where our brands and people can thrive," Dirk Van de Put, Mondelēz International Chairman and CEO.
Oman Investment Authority expects $1.3bn from divestments next year. (FS)
Bloomberg?reported that the Oman Investment Authority plans to raise more than $1.3bn by existing its investments in eight sectors next year as Gulf nations increasingly lean on state assets to bolster their finances.
The state-run wealth fund plans to exit three companies in the energy sector. It is also seeking to divest from companies in aviation, tourism, and communications and information technology sectors. Across the energy-rich Gulf, governments are readying plans to sell assets to fund the diversification of their economies, attract international investors and boost trading volumes. Saudi Arabia and the United Arab Emirates are in the midst of such programs, which have fueled a boom in initial public offerings.
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