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Astera Labs eyes up to $4.5bn valuation in US IPO.
Blackstone-Thomson Reuters launch sale of $2bn LSEG stake. (FS)
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Enbridge , a multinational pipeline and energy company, completed the acquisition of East Ohio Gas, a natural gas distribution company, from Dominion Energy , a power and energy company, for $6.6bn.
"The addition of a strong Ohio-based gas utility company is a great strategic fit for Enbridge. It further diversifies our business and enhances the stable cash flow profile of our assets. With this acquisition, Enbridge has all four of its business units represented in Ohio, providing further value-add opportunities. We welcome EOG and its employees into the Enbridge family of companies and look forward to building long-term productive relationships with all stakeholders in Ohio and continuing to offer Ohio customers the same safe, reliable service they are accustomed to," Michele Harradence , Enbridge Executive Vice President and President, Gas Distribution and Storage.
Enbridge was advised by 摩根士丹利 , RBC Capital Markets , McCarthy Tétrault (led by Toby Allan and John S. Osler, K.C. ) and Sullivan & Cromwell LLP . Debt financing was provided by 摩根士丹利 and RBC Capital Markets . Dominion Energy was advised by 花旗 , 高盛 (led by Dan Korich ), McGuireWoods LLP and 博然思维集团 . Financial advisors were advised by White & Case LLP .
Mondi Group , a multinational packaging and paper group, offered to acquire DS Smith , an international packaging company, offering sustainable, plastic-free packaging, integrated recycling services, and sustainable paper products, for ￡5.14bn ($6.6bn). Mondi shareholders would own 54% and DS Smith shareholders would own 46% of the issued and to be issued share capital of Mondi.
Mondi and DS Smith reiterated in the latest filing that the potential combination is an exciting opportunity to create a pan-European industry leader in paper-based sustainable packaging solutions, with opportunities to bring together their strengths in the corrugated value chain, including their virgin containerboard mills, converting network and recycled containerboard production sites.
DS Smith is advised by Citi (led by Andrew Seaton , Alex de Souza and Christopher Wren), Goldman Sachs (led by Anthony Gutman ), J.P. Morgan (led by Charlie Jacobs ), Slaughter and May and Brunswick Group (led by Dan Roberts and Simon Sporborg ). Mondi is advised by Rothschild & Co (led by John Deans ), 瑞银集团 (led by Jonathan Rowley and Anna Richardson), 年利达 and FTI Consulting (led by Richard Mountain ).
CPP Investments | Investissements RPC , a private equity firm, has entered into an agreement to join KKR for the acquisition of NetCo, the most extensive telecoms network in Italy, from TIM . CPPIB has committed to acquire a 17.5% interest in NetCo for up to €2bn ($2.18bn), as part of a transaction which values the business at an enterprise value of approximately €18.8bn ($20.5bn).
“NetCo will provide critical end-to-end data connectivity services that support the functioning of the Italian economy. Our investment alongside these key partners with a shared long-term vision will help deliver high-quality digital infrastructure across Italy as well as generating long-term risk-adjusted returns for the fund. We are optimistic that NetCo can represent the first of several infrastructure investments in Italy for CPP Investments," James Bryce , CPPIB Managing Director, Global Head of Infrastructure.?
KKR is advised by 花旗 , Colombo Advisory , J.P. 摩根 , 摩根士丹利 , 瑞银集团 , 富而德律师事务所 , Gianni & Origoni and Community Group. TIM is advised by Equita SIM S.p.A. , 高盛 , LionTree , Mediobanca , UniCredit , VITALE , Clifford Chance , Gatti Pavesi Bianchi Ludovici , Studio Carbonetti & Partners and Community Group. Financial advisors to TIM are advised by Sullivan & Cromwell LLP . Vivendi is advised by Chiomenti .?
Astera Labs eyes up to $4.5bn valuation in US IPO.
Astera Labs said it was targeting a valuation of up to $4.5bn in its US initial public offering, as the chip firm looks to list amid a wave of enthusiasm for artificial intelligence.
The company said it, along with some of its existing shareholders, is aiming to raise up to $534m by selling 17.8m shares priced between $27 and $30 each. Astera is offering nearly 14.8m shares, while the selling stockholders are offering about 3m shares, Reuters reported.
Blackstone-Thomson Reuters launch sale of $2bn LSEG stake. (FS)
An investor consortium including Blackstone and 汤森路透 , the parent company of Reuters News Agency , is selling ￡1.7bn ($2.18bn) worth of shares in the London Stock Exchange Group to trim its joint stake.
Investment banks managing the sale of 23m LSEG shares had orders for all the stock in the offering. Separately, the bourse operator plans to buy back up to ￡750m ($964m) of stock from the Blackstone-Thomson Reuters consortium by April 2024, Reuters reported.
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