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KKR-led consortium starts sale process for around $3bn Philippines hospital business.
Hindalco may resume work on Novelis share sale next year.
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玛氏食品 , a family-owned, global producer of pet care, snacking and food, agreed to acquire Kellanova , a company focusing on global snacking, international cereal and noodles, North American plant-based foods and frozen breakfast foods, for $36bn.
“In welcoming Kellanova’s portfolio of growing global brands, we have a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future. We will honor the heritage and innovation behind Kellanova’s incredible snacking and food brands while combining our respective strengths to deliver more choice and innovation to consumers and customers. We have tremendous respect for the storied legacy that Kellanova has built and look forward to welcoming the Kellanova team,” Poul Weihrauch , Mars CEO.
Mars?is advised by 花旗 , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Howard Ellin ), Simpson Thacher & Bartlett LLP and FGS Global (led by Kal Goldberg ). Debt financing is provided by J.P. 摩根 and 花旗 . Debt providers are advised by Cravath, Swaine & Moore LLP . Kellanova is advised by 高盛 , Lazard and Kirkland & Ellis (led by Eric Schiele and Allison Wein ) and 博然思维集团 (led by Jayne Rosefield ). Lazard is?advised by Sullivan & Cromwell LLP (led by Stephen Kotran ).
Guardian Life , a life insurer and a provider of employee benefits, agreed to acquire an additional stake in HPS Investment Partners, LLC , a global credit investment firm. Financial terms were not disclosed.
"Since the inception of our partnership over two years ago, HPS has been an exemplary provider of investment solutions. Today's announcement is a natural evolution of our deep strategic relationship and an exciting development for our policyholders who will further benefit from HPS's differentiated investment capabilities at greater scale and with additional depth across credit asset classes. This reflects Guardian's commitment to continually strive for superior risk adjusted returns so we can deliver on our promises and best support the well-being of our customers, colleagues, and communities," Andrew J. McMahon , Guardian Chief Executive Officer and President.
HPS Investment is advised by Ardea Partners , 美国银行 , 高盛 , J.P. 摩根 , 摩根士丹利 , Fried Frank and Prosek Partners (led by Mike Geller ). Guardian is advised by Berkshire Global Advisors and Debevoise & Plimpton (led by William Regner ).
StanCorp Financial , an insurance and financial services company, agreed to acquire employer voluntary benefits business from The Allstate Corporation, a publicly held personal lines insurers company, for $2bn.
“We see significant synergies between Allstate’s industry-leading supplemental and voluntary life products and The Standard’s expertise in workplace benefits. This transaction enhances our suite of offerings for customers of all sizes. We look forward to welcoming the talented Allstate Employer Voluntary Benefits employees to The Standard and to a mutually beneficial distribution partnership as we move forward,” Dan McMillan , The Standard President and CEO.
Allstate is advised by J.P. 摩根 , Ardea Partners and Willkie Farr & Gallagher LLP . StanCorp Financial is advised by 花旗 , and Debevoise & Plimpton (led by Nicholas Potter ).
KKR-led consortium starts sale process for around $3bn Philippines hospital business.
A KKR -led consortium has started the process of selling its entire stake in the largest private hospital in the Philippines in a deal that could value the business at around $3bn, WSJ reported.
The US private-equity firm is also in initial talks with minority shareholder Metro Pacific Investments Corporation , a Philippines conglomerate that was the original owner of Metro Pacific Hospital, to explore its interest in buying a stake of the healthcare provider.
Hindalco may resume work on Novelis share sale next year.
Hindalco Industries Limited , which delayed an initial public offering for Novelis , said it’s seeking a premium valuation for its US unit and any attempt to list it will take place in 2025,?Bloomberg?reported.
The plan to raise as much as $945m by floating Novelis, the world’s largest aluminum recycler, was postponed in June.
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