MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review.?Sign up here?to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
Blackstone raises $30.4bn for latest real estate fund. (FS)
HDFC bank plans to raise $6bn debt in the next year.
You can access today’s complete newsletter?here.
Scroll down for more…
Office Properties Income Trust , a REIT focused on owning, operating and leasing buildings, agreed to merge with Diversified Healthcare Trust , a real estate investment trust, in a $407m deal.
“The merger establishes the combined company as a larger, more diversified REIT, better positioned for long-term growth and value creation for OPI shareholders. DHC has an attractive portfolio of healthcare real estate assets, including a portfolio of medical office and life science properties, with a work from home resistant tenant base, as well as private pay senior living communities that are expected to benefit from a strategic turnaround, a continued post-pandemic recovery and favorable long-term demographics," Christopher Bilotto, OPI President and COO.
Office Properties is advised by J.P. 摩根 , Wachtell, Lipton, Rosen & Katz (led by? Robin Panovka ?and? Mark Stagliano ) and Joele Frank (led by? Andrew Siegel ?and? Jack Kelleher ). Debt financing is provided by J.P. 摩根 .
Glencore stepped up its pursuit of Teck Resources Limited with a new takeover proposal that gives the Canadian miner’s shareholders the option to receive a cash component instead of exposure to the two companies’ coal mines,?Bloomberg?reported.
Glencore’s announcement seeks to address one of Teck’s main arguments against its earlier offer to buy the company for about $23bn in shares and then spin off the combined coal businesses. Teck, which produces steelmaking coal, had criticized Glencore’s plan because it would leave its investors holding shares in a large miner of thermal coal, the most polluting fuel.?
领英推荐
Teck Resources is advised by Ardea Partners , BMO Capital Markets , Barclays , 高盛 , Origin Merchant Partners , Blake, Cassels & Graydon LLP , Paul, Weiss, Rifkind, Wharton & Garrison LLP , Stikeman Elliott LLP and Sullivan & Cromwell LLP (led by? Sergio J. Galvis ?and? Lauren Boehmke ).?
KKR , a global investment firm, agreed to invest in FGS Global , a global strategic communications consultancy. Financial terms were not disclosed.?
“Our investment in FGS is the latest example of our focus on proprietary, strategic partnership investments where we are providing long-term capital and a global network of resources to an entrepreneurial management team and alongside a world-class business. We firmly believe that Alex Geiser, Carter Eskew, Roland Rudd, George Sard and their talented global team are pioneering the next generation of value-add strategic communications services. Stakeholder engagement is a boardroom issue and we are confident that FGS, with whom we have enjoyed a long-term relationship, is well positioned to capitalize on significant growth opportunities ahead as a global category leader in the growing management consulting service industry,” Philipp Freise, KKR Partner and Co-Head of European Private Equity.
FGS Global is advised by Sullivan & Cromwell LLP (led by? Melissa Sawyer ?and? Matthew Goodman ).
Blackstone raises $30.4bn for latest real estate fund. (FS)
Blackstone had raised $30.4bn for its latest global real estate fund, as the private equity behemoth looks to double down on the industry,?Reuters?reported.
The fund, called Blackstone Real Estate Partners X, is 48% bigger than the asset management giant's previous real estate fund which closed in 2019.
"Sector selection has never been more critical as we witness the bifurcation of performance within real estate," Ken Caplan, Blackstone Global Co-Head of Real Estate.
HDFC bank plans to raise $6bn debt in the next year.
Indian private lender HDFC Bank would consider raising debt of $6bn over the next one year,?DealStreetAsia?reported.
The bank will discuss the fund raise at its board meeting on April 15, 2023, when it is also due to report earnings for the January-March quarter.
Interested to find more??Sign up here?to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today’s complete newsletter here.