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ProLogium seeking funds at $2bn value.
KKR, Macquarie eye Sembcorp. (FS)
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Advent and Warburg Pincus LLC Pincus, two private equity investors, agreed to acquire Simtra BioPharma Solutions business from Baxter International Inc. , a global medtech company, for $4.25bn.
“Today represents an important step in Baxter’s ongoing transformation journey as we continue to execute against our strategic priorities, enhance our focus and create additional value for all our stakeholders. BPS has long been recognized worldwide as a trusted and preferred partner of contract manufacturing services for the pharmaceutical and biotech industries. Advent International and Warburg Pincus have extensive experience helping innovative healthcare companies advance their mission and strategic priorities. I am confident that under their stewardship, BPS will continue to build on its leadership position, foster world-class talent, invest in new capabilities and capacity, and provide leading-edge, high-quality solutions for its clients," José E. Almeida, Baxter Chairman, President and CEO.
Warburg is advised by Truist and Ropes & Gray LLP (led by Annie Sipe and Christian Westra ). Baxter is advised by Perella Weinberg and Sullivan & Cromwell LLP (led by Melissa Sawyer ). Advent is advised by Moelis & Company , Cleary Gottlieb Steen & Hamilton LLP and Hengeler Mueller (led by Elisabeth Kreuzer and Daniel Wiegand ).
Tempur Sealy International , a bedding provider, agreed to acquire Mattress Firm , an American mattress store chain, for $4bn.
"This transaction advances all four of our key long-term initiatives: to develop the highest quality bedding products, promote brands with compelling marketing, optimize our diverse omnichannel distribution platform, and drive EPS growth. Consistent with our M&A strategy, this acquisition will make Tempur Sealy more competitive by bringing us closer to consumers and facilitating continued innovation," Scott Thompson, Tempur Sealy Chairman and CEO.
Mattress Firm is advised by Barclays , 高盛 , Jefferies and Simpson Thacher & Bartlett LLP . Tempur Sealy is advised by J.P. 摩根 , Cleary Gottlieb Steen & Hamilton LLP and FGS Global .
JD Sports Fashion , a sports-fashion retail company, agreed to acquire COURIR , a fashion sneakers seller, from Equistone Partners , a private equity firm, for €520m ($573m).
"We said at our recent Capital Markets Event that this was the start of a new, distinct chapter in the growth story of JD. The exciting developments that we are announcing today reflect the strategic priorities that we highlighted on the day," Régis Schultz, JD CEO.
JD Sports is advised by FGS Global (led by? Rollo Head ).
ProLogium seeking funds at $2bn value?
Taiwanese solid-state battery maker ProLogium Technology 輝能科技 is considering raising fresh funding at a valuation of about $2bn to ramp up growth and investments, Bloomberg reported.
The electric vehicle battery supplier, whose backers include Mercedes-Benz and Vietnam's VinFast, is in talks with potential advisers to raise as much as $300m. The funds would be used for the company's capital expenditure plans for 2024.
KKR, Macquarie eye Sembcorp. (FS)
US private equity group KKR ?and Australia's Macquarie Asset Management are among potential bidders for the waste and recycling management arm of Singapore's energy group Sembcorp Industries Ltd in a deal that could value the unit at around $500m, Reuters reported.
Sembcorp, which is 49.3% owned by Singapore's state investor Temasek, has hired HSBC to run the sale of SembWaste.
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