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GTCR, Apax weigh options to sell AssuredPartners for $16bn.
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Banks and private lenders vie for a $4.2bn debt deal for Adevinta.
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Chesapeake Utilities Corporation , a diversified energy delivery company, agreed to acquire Florida City Gas , a natural gas distribution company, from NextEra Energy Resources , a clean energy company, for $923m.?
"This acquisition will more than double our natural gas business in Florida, one of the fastest growing states in the nation. For several years, gas distribution customer growth in Florida has significantly exceeded national averages. Demand for natural gas continues to increase as Florida consumers seek reliable, domestic and affordable energy for their homes and businesses. We have generated meaningful earnings growth by acquiring businesses in states where we already operate and subsequently developing and executing additional growth opportunities. We see similar opportunities with FCG, and believe we are well positioned to capture additional growth including gas distribution expansion to serve new residential development, as well as infrastructure investments across our other platforms, such as gas transmission. We expect these opportunities, which are a large driver of our increased capital investment plan, to enable us to continue to pursue long-term upper quartile earnings growth," Jeff Householder, Chesapeake Utilities Chairman, President and CEO.
Chesapeake is advised by Barclays , BakerHostetler , Shearman & Sterling LLP and Reevemark (led by Hugh Burns , Delia Cannan and Pam Greene ). NextEra Energy is advised by 高盛 and Norton Rose Fulbright .
米其林 , a French multinational tyre manufacturing company, completed the acquisition of Flex Composite Group , a provider of engineered fabrics and films, from idi , a private equity firm, for €700m ($741m).
"We are very pleased to extend a warm welcome to the FCG teams into our Group, to create a recognized leader in high-tech technical fabrics and films. This operation draws on the best of both companies, in particular on our shared expertise in polymer composite solutions. We are aiming to generate synergies and to push back the frontiers of deep-tech innovation in a wide range of new products and applications. This acquisition is a milestone in our strategy to position the Group as a key player in polymer composite solutions beyond mobility," Florent Menegaux , Michelin CEO.
Michelin was advised by J.P. 摩根 . IDI was advised by Rothschild & Co (led by Frank Cygler and Pierpaolo Carpinelli ).
British automotive retailer Pendragon PLC said it received an unsolicited proposal from AutoNation for about $547m in cash, Reuters reported.
The ￡0.32 ($0.39) per share offer comes days after Pendragon's top shareholder Hedin Mobility Group and US-based PAG International sweetened their joint proposal to buy the company following a rejection of their previous bid.
GTCR, Apax weigh options to sell AssuredPartners?for $16bn.
GTCR LLC and Apax Partners are exploring options including a full or partial sale of insurance broker AssuredPartners , which could be valued at up to $16bn, including debt, in any transaction, Bloomberg reported.
The private equity firms are also considering an initial public offering of the company. AssuredPartners is on track to generate about $850m in annual earnings before interest, taxes, depreciation and amortization.
Banks and private lenders vie for a $4.2bn debt deal for Adevinta .
Investment banks and direct-lending funds are competing to provide as much as €4bn ($4.2bn) of debt to finance a potential take-private of European classifieds company Adevinta, Bloomberg reported.
Adevinta?received a non-binding takeover proposal from a private equity consortium that includes Blackstone and Permira , confirming an earlier Bloomberg report revealing plans for what would be one of the year's biggest buyouts.
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