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Malaysia's Permodalan Nasional weighs $2.15bn Sime Darby-Perodua merger. (FS)
KKR nears sale of pub operator Australian Venue to PAG for $906m. (FS)
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ENGIE , a multinational utility company, agreed to acquire Broad Reach Power , a company specialized in battery storage, from Apollo Global Management, Inc. and EnCap, two private equity funds, for $1.6bn.
"This acquisition is fully in line with ENGIE's strategy: it will contribute to the development of a low-carbon, affordable and resilient energy system where flexible assets will play a critical role alongside renewables,” Catherine MacGregor, ENGIE CEO.
Roark Capital , a private equity firm, agreed to acquire Subway , a quick service restaurant brand. Financial terms were not disclosed.
"This transaction reflects Subway's long-term growth potential, and the substantial value of our brand and our franchisees around the world. Subway has a bright future with Roark, and we are committed to continuing to focus on a win-win-win approach for our franchisees, our guests and our employees," John Chidsey, Subway CEO.
Subway is advised by J.P. 摩根 and Sullivan & Cromwell LLP (led by Frank Aquila and Melissa Sawyer ).?Roark?is advised by?Morgan Stanley.
Trive Capital -backed Forward Slope, Inc. , a technology services company providing software and surveillance solutions to the defense industry, completed the acquisition of Soar Technology, LLC , a software company. Financial terms were not disclosed.
"Through our 15-year history of partnering with Forward Slope to solve customer challenges, we have developed a deep understanding and appreciation of their complementary expertise in developing software solutions. The combined set of capabilities, talented teams and cultural alignment gave us conviction that a partnership with Forward Slope was an ideal next chapter for SoarTech. We believe that joining forces with Forward Slope will accelerate opportunities for SoarTech and allow us to solve complex DOD challenges in an agile way," Mike van Lent, SoarTech Chief Executive Officer.
SoarTech was advised by KippsDeSanto & Co. and Pillsbury Winthrop Shaw Pittman LLP . Trive Capital was advised by Haynes and Boone, LLP .
Malaysia's Permodalan Nasional weighs $2.15bn Sime Darby-Perodua merger. (FS)
Malaysia's largest asset manager, PT. Permodalan Nasional Madani (Persero) , is considering merging Sime Darby Motors and Perusahaan Otomobil Kedua?to create a local automotive giant worth over $2.15bn. State-owned PNB is talking to advisers to explore options, including first by merging the holding companies of the two units and then creating a bigger automotive group that could help spearhead the development of the electric vehicle sector in Malaysia, DealStreetAsia reported.
The plan comes amid a push by the Malaysian government to develop the country's EV sector as competition heats up in Southeast Asia to become the main player or a hub in the global production and supply chain of EVs.
PNB, which manages over $64bn of assets, could drive such a deal as it is the biggest shareholder in Sime Darby Motors' parent, Sime Darby, owning almost a 50% stake and is also the largest shareholder in Perodua's top stakeholder and owns a direct 10% stake in Perodua.
KKR nears sale of pub operator Australian Venue to PAG for $906m. (FS)
KKR is nearing a deal to sell pub operator Australian Venue Co. to private equity firm PAG for about $906m. Discussions are in the final stages and an announcement could come as soon as in the coming days. The management of Australian Venue will stay on to run the business,?Bloomberg ?reported.
Australian Venue owns and operates pubs, bars and event spaces in Australia. It has more than 200 locations across the country. The company shelved its planned initial public offering in Sydney in May 2021 over concerns that the coronavirus pandemic could cloud its business outlook.
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