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Italy will study KKR's $37bn Telecom Italia acquisition. (FS)
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GIC, an investment firm, and Oak Street, a real estate investment firm, completed the acquisition of STORE Capital, an internally managed net-lease real estate investment trust, for $15bn.
“We are thrilled to complete the STORE Capital acquisition. As one of the largest M&A transactions in the US real estate market, it highlights GIC’s ability to execute at scale in areas we have high conviction in. With GIC’s long-term, committed capital and STORE’s demonstrated operational expertise, we will continue to prudently grow the company and drive strong returns for our portfolio,” Lee Kok Sun, GIC Chief Investment Officer.
STORE was advised by Evercore , 高盛 , DLA Piper and Joele Frank (led by?Matthew Sherman ). Financial advisors were advised by Fried Frank (led by?Roy Tannenbaum? and?Philip Richter ) and 霍金路伟 (led by?Stacey McEvoy ). GIC was advised by 花旗 (led by?Scott Eisen ), Eastdil Secured and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by?Nancy Olson ). Oak Street was advised by 摩根士丹利 , Kirkland & Ellis (led by?Andrew Van Noord ,?David Rosenberg? and?Michael Brueck ) and Prosek Partners (led by?David Wells ).
DigitalBridge, a provider of infrastructure solutions, and Brookfield, an alternative asset management company, completed the acquisition of a 51% stake in GD Towers, German and Austrian tower assets of Deutsche Telekom, a telecommunications company, for $8.93bn.
“The partnership being formed today is about building the next generation digital infrastructure champion of Europe. The combination of Deutsche Telekom’s leading mobile network and market position, alongside one of the largest real asset managers in the world in Brookfield, combined with the digital infrastructure domain expertise of DigitalBridge, creates a team of unmatched capabilities to support GD Towers as it grows to meet the evolving network demands of enterprises and consumers across Europe," Marc Ganzi, DigitalBridge CEO.
DigitalBridge was advised by 安永 , Barclays (led by?Scott Schaevitz? and?Ragavan Bala ), Evercore , Perella Weinberg , Allen & Overy , DORDA Rechtsanw?lte GmbH (led by?Andreas Mayr ), Morgan, Lewis & Bockius LLP , Vinson & Elkins (led by?James Fox ) and Joele Frank (led by?Jonathan Keehner ). Brookfield was advised by J.P. 摩根 , 摩根士丹利 (led by?Dominique Cahu ), 普华永道 , 富而德律师事务所 (led by?Christian Sistermann ) and 博然思维集团 . Debt financing was provided by Ares Capital , 法国巴黎银行 , 东方汇理银行 , Intesa Sanpaolo , MUFG , Natixis Partners , Santander and UniCredit . Deutsche Telekom was advised by 高盛 (led by?Marco Prieto ) and Gleiss Lutz (led by?Adrian Bingel ), Noerr (led by?Baerbel Sachs ), P+P Poellath + Partners and Schoenherr Attorneys at Law .
Clayton Dubilier & Rice, a private investment firm, agreed to acquire Focus Financial Partners, a partnership of independent, fiduciary wealth management firms, for $4.1bn.
CD&R has communicated that its latest non-binding offer of $53 per share represented its "best and final" offer and that it was submitted with the understanding that there would be no further price negotiations. CD&R has also proposed that the transaction would be subject to a non-waivable approval of a majority of the voting power of disinterested shareholders.
"This additional investment in FirstEnergy Transmission demonstrates our commitment to building strong partnerships with premier infrastructure asset owners and operators, like FirstEnergy, that share our focus on long-term value creation. This is a very attractive opportunity that firmly aligns with BSIP's strategy of investing in high quality, resilient businesses that combine growth and defensive characteristics to generate stable cash flows across market cycles," Eduardo Salgado, Brookfield Managing Partner of Infrastructure.
Brookfield is advised by Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by?Eric Otness? and?Aryan Moniri ). FirstEnergy is advised by 花旗 , J.P. 摩根 , Moelis & Company and 众达律师事务所 (led by?George Hunter? and?Peter Izanec ).
Italy will study KKR's $37bn Telecom Italia acquisition. (FS)
Italy will "study the details" of?KKR's offer for Telecom Italia , Economy and Finance Minister Giancarlo Giorgetti said.
The government, a stakeholder of the beleaguered phone carrier, will "evaluate the offer when it has full information on it." The minister reiterated that the government's goal is public control of the network,?Bloomberg? reported.
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