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Vietnam's Vingroup sells 41.5% of its stake in Vincom Retail for nearly $1bn.
Carlyle nears advanced talks on €1.5bn Thyssen unit. (FS)
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百时美施贵宝 , a global biopharmaceutical company, completed the acquisition of Karuna Therapeutics , a biopharmaceutical company, from PureTech Health , a biotechnology company which develops medicines to combat serious diseases, for $14bn.
"There are tremendous opportunities in neuroscience, and Karuna strengthens our position and accelerates the expansion and diversification of our portfolio in the space. We expect KarXT to enhance our growth through the late 2020s and into the next decade. This transaction fits squarely within our business development priorities of pursuing assets that are strategically aligned, scientifically sound, financially attractive, and have the potential to address areas of significant unmet medical need. We look forward to welcoming the talented Karuna team to Bristol Myers Squibb," Christopher Boerner, Bristol Myers Squibb CEO.
Karuna Therapeutics was advised by 高盛 (led by Peter Van der Goes and Caitlin Pollak ) and Simpson Thacher & Bartlett LLP (led by Eric Swedenburg ). Goldman Sachs was advised by Sullivan & Cromwell LLP (led by Stephen Kotran ). Bristol Myers Squibb was advised by 花旗 , Gordon Dyal & Co. Advisory Group LP (led by Gordon Dyal), Covington & Burling LLP (led by Catherine Dargan ) and Joele Frank (led by Daniel Katcher ). PureTech was advised by FTI Consulting (led by Ben Atwell ) and Ten Bridge Communications (led by Nichole Bobbyn ).
State-backed Japan Investment will launch a tender offer for chipmaking materials linchpin JSR Corporation on March 19, a move that Tokyo officials deem crucial for the country’s domestic supply chain, Bloomberg reported.
JSR said it no longer needed advance regulatory approval from Beijing for the JPY904bn ($6bn) deal, thanks to an amendment in China’s guidelines regarding its antitrust laws. The withdrawal of its application was accepted on February 19, leading JIC to decide it could move forward on the tender offer. JIC is slated to buy all outstanding shares of JSR for JPY4,350?($29) per share.
JSR is advised by 摩根士丹利 and Shearman & Sterling LLP . JIC is advised by J.P. 摩根 .
Sumitomo Life Insurance Company , a mutual life insurance company, completed the acquisition of a 26% stake in Singlife , a life insurance company, from Aviva , a multinational insurance company, for ￡800m ($1bn).
"This is a good outcome for Aviva. The transaction further simplifies the business and we are in a very strong position to build on our trading momentum in the UK, Ireland and Canada," Amanda Blanc, Aviva CEO.
Aviva was advised by J.P. 摩根 , Allen & Gledhill LLP , Mori Hamada & Matsumoto , Slaughter and May (led by Richard Smith and Claire Jackson ) and 博然思维集团 .
Vietnam's Vingroup sells 41.5% of its stake in Vincom Retail for nearly $1bn.
Vingroup JSC has sold 41.5% of its stake in its retail unit, Vincom Retail JSC , to an undisclosed partner for an undisclosed sum, DealStreetAsia reported.
After the transaction, Vingroup holds an 18.8% stake in Vincom Retail but the shopping mall operator is no longer a Vingroup unit. The transaction is expected to conclude between this month and the third quarter of this year.
Carlyle nears advanced talks on €1.5bn Thyssen unit. (FS)
Private equity firm 凯雷投资集团 is preparing to enter advanced negotiations to acquire a majority stake in 蒂森克虏伯 ’s naval shipbuilding unit in a deal that could value the business at about €1.5bn ($1.6bn) including debt, Bloomberg reported.
Talks are progressing and the beleaguered German conglomerate could announce as soon as this week that it’s entering advanced discussions with Carlyle on terms of a deal.
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