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Brookfield favors wind in $13bn Australian renewables plan. (Financial Sponsors)
Suntory Beverage targets over $5bn M&A deal in the coming five years.
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Poseidon Acquisition, an entity formed by Fairfax Financial Holdings Limited , a financial holding company, the Washington Family, David Sokol, Atlas Chairman, and Ocean Network Express , a Japanese container transportation and shipping company, completed the acquisition of the remaining 32% stake in Atlas Corp. , a global asset manager that owns and operates the businesses in which it invests, for $3.5bn.
"We believe this transaction with Poseidon is an exciting culmination of those efforts for our shareholders. As we look at the industry's trajectory, we believe the financial, operational and strategic flexibility we will gain as a privately held company with this group of owners and investors will position Atlas, our employees and customers for greater opportunity. This transaction is a testament to our team's unwavering commitment to customers and consistent execution. I look forward to continuing to work with David and the rest of the Atlas team as we continue our progress, including preparing for the launch of our new vessel fleet, which we expect to be fully delivered by 2024," Bing Chen, Atlas President and CEO.
Atlas was advised by 摩根士丹利 , Gibson Dunn (led by? Hillary Holmes ), Morris, Nichols, Arsht & Tunnell LLP and Joele Frank (led by? Jim Golden ?and? Nick Lamplough ). Morgan Stanley was advised by Cravath, Swaine & Moore LLP (led by? Dan Cerqueira ?and? Keith Hallam ). Poseidon was advised by Honigman Miller Schwartz and Cohn LLP . Ocean Network was advised by 花旗 and Latham & Watkins (led by? David Kurzweil ). The Washington was advised by K&L Gates . Fairfax was advised by Torys LLP (led by? Michael Horwitz ). David Sokol was advised by Honigman Miller Schwartz and Cohn LLP .
Albemarle Corporation , a specialty chemicals manufacturing company, offered to acquire Liontown Resources Limited , a battery metals exploration and development company, for $3.4bn.
The Liontown Board and its advisers carefully considered the offer and unanimously determined that it substantially undervalues Liontown, and therefore is not in the best interests of shareholders.
Liontown is advised by Greenhill & Co. , Allens and GRA Partners Pty Ltd (led by? Luke Forrestal ). Albemarle is advised by J.P. 摩根 and Corrs Chambers Westgarth .
Crescent Point Energy , an exploration and production company that produces oil and gas, agreed to acquire oil and liquids-rich Montney assets in Alberta from Spartan Delta Corp. , an energy company, for $1.7bn.
"Over the past five years, we have fundamentally rebuilt and strengthened Crescent Point. As a result of our efforts, and after closing this transaction, our asset base will include significant inventory depth in both the Kaybob Duvernay and the Montney, while also maintaining significant low-decline assets in Saskatchewan that provide additional excess cash flow. The Montney acquisition is immediately accretive to our per share metrics, enhances our return of capital to shareholders, and is aligned with our long-term strategy to focus on high quality, scalable resource plays that meet our defined asset criteria," Craig Bryksa, Crescent Point President and CEO.
Crescent Point is advised by BMO Capital Markets , RBC Capital Markets and Scotiabank .
Brookfield favors wind in $13bn Australian renewables plan. (FS)
Brookfield will prioritize wind power projects over solar farms as it begins a $13.4bn renewables investment blitz in Australia following the?takeover of utility Origin Energy,?Bloomberg?reported.
The Canadian firm plans to construct about 10 to 11 gigawatts of wind generation plus 4 gigawatts of batteries to replace the coal plants Origin currently relies on. Brookfield inked a deal alongside energy investor EIG Global Energy Partners worth $12.4bn, including debt, to acquire the utility after months of talks.
Suntory Beverage targets over $5bn M&A deal in the coming five years.
Suntory Beverage & Food GB&I 's new CEO Makiko Ono , who spent much of her career driving foreign acquisitions as one of the few women working abroad at the company, now seeks to deliver growth via a similar strategy to take advantage of changes in consumer behavior after Covid,?Bloomberg?reported.
The company is seeking M&A opportunities totaling as much as $5.4bn over the next few years. While Suntory's acquisition strategy is yet to be finalized, the company sees potential in health-related drinks in the US, Asia and regions where Suntory currently has little presence.
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