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Eli Lilly sells $5bn of bonds to fund Morphic deal.
Abu Dhabi wealth fund ADQ said to eye bank Audi’s Turkish unit. (FS)
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凯雷投资集团 , a private equity firm, and Atmas Health , a healthcare investment platform, agreed to acquire the Vantive kidney care segment of Baxter International Inc. , a global medtech company, for $3.8bn.
"Today's announcement represents another critical step forward in the strategic transformation process we announced in early 2023. As a result of this proposed transaction, Baxter will emerge a more focused and more efficient company, better positioned to redefine healthcare delivery and advance innovation that benefits patients, customers and shareholders. I am confident that, under Carlyle's stewardship and Chris Toth’s leadership, the Vantive team will continue to build on the business's 70-year legacy as a pioneer in kidney disease and vital organ therapies," Joe Almeida , Baxter Chair, President and CEO.
Baxter is advised by J.P. 摩根 , Perella Weinberg , 贝克?麦坚时 , and Sullivan & Cromwell LLP (led by Melissa Sawyer and Matthew Goodman ). Carlyle is advised by Barclays , 高盛 , and Kirkland & Ellis (led by Armand Della Monica , Laura Steinke and Nils Remole ).?
WSP in the U.S. , a global professional services firm, agreed to acquire POWER Engineers , a global consulting engineering firm, for $1.78bn.
“POWER and WSP truly are stronger together. By joining forces, we can supercharge our ability to help clients and communities around the world adapt to the changing energy landscape—and provide more opportunities for our team members to work on the most challenging projects. We’re looking forward to building success together with WSP,” Jim Haynes , Power Engineers CEO.
WSP is advised by Environmental Financial Consulting Group (EFCG) , Perella Weinberg and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by June Dipchand ) and Stikeman Elliott LLP . Power Engineers is advised by AEC Advisors LLC and Katten Muchin Rosenman LLP (led by Jessica Schauwecker , Bret Diskin , and David Kravitz ).
CVC Capital Partners, a Luxembourg-based private equity and investment advisory firm, agreed to invest in Clayton, Dubilier & Rice -backed Epicor , an industry-specific enterprise software provider. Financial terms were not disclosed.
"Our customers and their ambitions are the focus of what we do as we work to provide the most innovative solution sets possible. CD&R's support and partnership has been invaluable as we have accelerated the growth of our business, invested significantly in our portfolio and released a number of next-generation, cloud-ready products. We look forward to working with CVC as we continue to grow our platform capabilities, with a keen focus on better serving our dynamic customer base," Steve Murphy , Epicor CEO.
CD&R and Epicor are advised by Barclays , 高盛 and Debevoise & Plimpton (led by Uri Herzberg and Kevin Schmidt ). CVC Capital Partners is advised by Evercore , Jefferies and White & Case LLP .
Eli Lilly sells $5bn of bonds to fund Morphic deal.
礼来 sold $5bn of bonds on August 12 to help fund its $3.2bn acquisition of gut-drug maker Morphic Holding , after recession fears triggered a turbulent week, Bloomberg reported.
The company sold the bonds in five parts. The longest portion of the deal, a 40-year note, yields 1 percentage point above Treasuries, after initial discussions of around 1.3 percentage point.
Abu Dhabi wealth fund ADQ said to eye bank Audi’s Turkish unit. (FS)
An Abu Dhabi sovereign wealth fund is in talks to buy Turkish lender Odeabank , as United Arab Emirates-based entities hunt for growth opportunities overseas, Bloomberg reported.
The $249bn fund ADQ has been in discussions to acquire the lender owned by Lebanon’s Bank Audi over the past few months. Odeabank is a midsize lender in Turkey with assets of TRY87.3bn ($2.6bn). Bank Audi, which established the firm in 2012, is its largest shareholder with a 76.4% stake.
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