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PIF invets $1.3bn in four construction firms. (FS)
Niva Bupa weighs $2bn stake sale. (FS)
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SVES, an apparel distribution company, agreed to go public via a merger with Relativity Acquisition Corp , a special purpose acquisition company, in a $707m deal.
“We are excited to partner with Relativity in this business combination, and look forward to the new opportunities it unlocks to generate significant value for the stockholders of the Combined Company. This merger and entry into the public markets will bring us access to a much larger pool of capital which will help us continue to leverage the tailwinds of a compelling high-growth industry," Timothy J. Fullum, SVES Co-Founder and CEO.
Relativity Acquisition is advised by Alliance Global Partners and Ellenoff Grossman & Schole LLP . SVES is advised by McCarter & English, LLP .
Bridge Investment Group , a vertically integrated real estate investment manager, agreed to acquire Newbury Partners , an investment manager, for $320m.
“The acquisition of Newbury is a natural next step in thoughtfully expanding Bridge’s investment platform and capitalizing on a value-enhancing growth opportunity. As investors’ allocations to alternative investments grow, we believe growth in the secondaries market will also accelerate,” Robert Morse, Bridge Executive Chairman.
Bridge Investment Group is advised by Kirkland & Ellis , Latham & Watkins and Joele Frank (led by? Jonathan Keehner ). Newbury is advised by Berkshire Global Advisors and Proskauer Rose LLP .
UBP - Union Bancaire Privée , a private banking company, and Risk Management Group , a financial planner, agreed to acquire health campus in Meyrin from H?pital de La Tour , a private hospital, for $813m.
“We want to use the hospital as the hub of a larger and more ambitious “health campus” bringing together players in the medical, research, medical technology and training fields. This group of private investors led by the Latsis family has strong ties to Geneva. Since they bought the hospital ten years ago, they have not stopped investing in health and innovation. This project reflects their willingness to commit themselves over several generations," Jenny Paizi, SETE Family Investment Officer.
Hospital de La Tour is advised by Jefferies .
PIF invets $1.3bn in four construction firms. (FS)
Saudi Arabia's sovereign wealth fund has invested a total of $1.3bn in four local construction firms to support the sector tasked with spearheading projects across the kingdom,?DealStreetAsia ?reported.
The Public Investment Fund (PIF) acquired new shares as part of capital increases representing significant minority stakes in Nesma & Partners Contracting, ElSeif Engineering Contracting, AlBawani Holding and Almabani General Contractors.
Niva Bupa weighs $2bn stake sale. (FS)
Niva Bupa Health Insurance , an Indian general insurer backed by The British United Provident Association Limited is considering selling a minority stake that could value the firm at around $2bn.
Niva Bupa Health Insurance, a joint venture between the UK insurer and Indian private equity fund True North, is working with an adviser on the potential stake sale. The sale could raise as much as $100m,?Bloomberg ?reported.
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