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Liberty Global and Warner Bros Discovery owners weigh deal for All3Media.
Apollo, Bain, possible bidders for Fujitsu's $2.7bn stake in Shinko. (FS)
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Blackstone , an American alternative investment management company, completed the acquisition of a 60% stake in the Climate Technologies business?of 艾默生 , a technology, software and engineering powerhouse, for $8.4bn.?
“Today’s announcement is a definitive step in the portfolio journey we embarked on when I became CEO in early 2021. Over the past 18 months, the Emerson team has accelerated our portfolio transformation, divesting non-core businesses including InSinkErator and Therm-O-Disc, while investing in organic growth opportunities and important transactions including AspenTech," Lal Karsanbhai, Emerson President and CEO.
GIC was?advised by Dechert LLP (led by? Mark Thierfelder ). Blackstone was advised by Barclays (led by? Richard Siegel ?and? John McCann ), Evercore (led by? Naveen Nataraj ), Guggenheim Partners , Corrs Chambers Westgarth (led by? Jeremy Horwood ), Herbert Smith Freehills (led by? Joseph Dennis ), Simpson Thacher & Bartlett LLP (led by? Elizabeth Cooper ?and? William Allen ) and Joele Frank (led by? Jonathan Keehner ). Debt financing was?provided by RBC Capital Markets , SMBC Nikko Securities Inc. and 富国银行 . Emerson Electric was?advised by Centerview Partners , 高盛 , 贝克?麦坚时 (led by? Jannan Crozier ), Davis Polk & Wardwell LLP (led by? Phillip Mills ?and? Marc O. Williams ), 福莱 and Joele Frank (led by? Matthew Sherman ). Financial advisors were advised by Sullivan & Cromwell LLP (led by? Stephen Kotran ).
Altria , a producer and marketer of tobacco, cigarettes and related products, completed the acquisition of NJOY , a company that manufactures and distributes electronic cigarettes and vaping products, from Mudrick Capital Management , a private equity company, for $2.75bn.
“We believe we can responsibly accelerate US adult smoker and competitive adult vaper adoption of NJOY ACE in ways that NJOY could not as a standalone company. We believe the strengths of our commercial resources can benefit adult tobacco consumers and expand competition. We are also excited to welcome NJOY's talented employees to Altria at closing,” Billy Gifford, Altria CEO.
Altria was advised by 摩根士丹利 , Perella Weinberg , Arnold & Porter and White & Case LLP (led by? Chang-Do Gong ?and? Kristen Rohr ). Mudrick Capital was advised by Kekst CNC (led by? Todd Fogarty ). NJOY was advised by Moelis & Company and Weil, Gotshal & Manges LLP (led by? Mike Lubowitz ?and? Brian Gingold ).?Financial advisors were advised by? Paul, Weiss, Rifkind, Wharton & Garrison LLP .?Debt financing was?provided by? 摩根士丹利 .
Madison Dearborn Partners, LLC , an American private equity firm, completed the acquisition of MoneyGram International , a digital P2P payments provider, for $1.8bn.
"We are excited to enter into this transaction with MDP, which will deliver immediate and compelling value to shareholders and enable us to accelerate the advancement of our digital growth strategy. This transaction is the culmination of a thorough process by the MoneyGram Board to enhance shareholder value while positioning our business for continued growth and expansion. By partnering with MDP and becoming a private company, we will have greater opportunities to innovate and transform MoneyGram to lead the industry in cross-border payment technology and deliver a more expansive set of digital offerings, while leveraging our global platform for new customers and use cases. This transaction provides exciting opportunities for our dedicated MoneyGram team and partners, and I'm incredibly excited about the path ahead," Alex Holmes, MoneyGram Chairman and CEO.
MoneyGram was?advised by 美国银行 (led by? Kevin Brunner ), Vinson & Elkins ?(led by? Lande Spottswood ?and? Alan Bogdanow )?and Joele Frank (led by? Joseph M. Sala ?and? Viveca Tress was?advised by Barclays , 德意志银行 , 高盛 , J.P. 摩根 , Covington & Burling LLP , Kirkland & Ellis , Latham & Watkins (led by? Fiona Maclean ,? Ian Bushner ,? Christopher Drewry ?and? Neal J Reenan ), H/Advisors Abernathy . Financial advisors were advised by Cleary Gottlieb Steen & Hamilton LLP (led by? Paul Shim ) and Davis Polk & Wardwell LLP . Debt financing was provided by Barclays , 德意志银行 and 高盛 .
Liberty Global and Warner Bros Discovery owners weigh deal for All3Media.
The owners of All3Media , Britain's largest independent TV production company, are exploring options that include cashing out on their joint venture in a deal worth more than $1.26bn. Liberty Global and Warner Bros. Discovery are considering selling their stakes in All3Media to a third party or one of them buying the other out,?Reuters ?reported.
Warner Bros Discovery selling its stake to Liberty Global would help it trim its $49bn debt pile, the legacy of the 2021 merger between Discovery and Warner Media that created it. Discovery created the All3Media joint venture in 2014 with Liberty Global for its content and production capabilities. This is something it no longer needs following its merger with WarnerMedia, which has an extensive movie library and film and television production resources.
Apollo, Bain, possible bidders for Fujitsu's $2.7bn stake in Shinko. (FS)
富士通 's controlling stake in Shinko Electric Industries has attracted interests from Apollo Global Management, Inc. and Bain Capital as potential bidders. Dai Nippon Printing, Japan Investment Corporation (JIC) and KKR ?have also expressed interest in the stake,?Bloomberg ?reported.
Fujitsu's stake is valued at around $2.7bn based on the latest stock price of Shinko. In an earlier update, the news agency had pegged it at $2.4bn. Fujitsu has been weighing options for Shinko as its largest stakeholder, looking to streamline operations adding that potential bidders could practice more caution in valuing the firm its business involves national security issues.
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