MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review. Sign up here to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
Reddit is targeting up to $6.5bn valuation in IPO.
JAB seeks up to $2.5bn in Keurig Dr Pepper share sale. (FS)
You can access today’s complete newsletter here .
Scroll down for more…
ADNOC Group , the state-owned oil company of the United Arab Emirates, completed the acquisition of a 24.9% stake in OMV , a multinational integrated oil, gas and petrochemical company, from Mubadala , a sovereign wealth fund, at a €15.5bn ($16.8bn) valuation.
"ADNOC is proud to become a shareholder in OMV, a leading international energy and chemicals company, with whom we share a long-standing strategic partnership. Together, we have created significant value through our joint venture Borouge, and today's investment will unlock further value and future growth opportunities for both companies. Building on our 25% shareholding in Borealis, this transaction marks the next transformative step as we accelerate our ambitious chemicals growth strategy, unlocking significant growth and value creation opportunities for ADNOC, OMV and their respective shareholders," Khaled Salmeen, ADNOC Executive Director, Downstream Industry, Marketing & Trading.
ADNOC was advised by 花旗 , Shearman & Sterling LLP and Wolf Theiss (led by Florian Kusznier ).
Everi Holdings Inc. , a provider of gaming products, financial technology, and loyalty solutions to casinos, agreed to merge with the Global Gaming and PlayDigital businesses of IGT , a multinational gambling company, in a $4bn deal.
"We are bringing together two businesses with complementary strengths that are stronger and more valuable together. The combination results in a comprehensive and diverse product offering, addressing more aspects of the gaming ecosystem across land-based gaming, iGaming, sports betting, and fintech. The creation of separate gaming and lottery companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders," Vince Sadusky, IGT CEO.
Everi is advised by Global Leisure Partners , Houlihan Lokey , Pillsbury Winthrop Shaw Pittman LLP and JCIR . IGT is advised by 德意志银行 , 麦格理集团 , Mediobanca , Sidley Austin LLP , Wachtell, Lipton, Rosen & Katz (led by Benjamin Roth and Victor Goldfeld ) and White & Case LLP . Debt financing is provided by 德意志银行 and 麦格理集团 . Macquarie Group is advised by Sullivan & Cromwell LLP (led by Stephen Kotran and Lee Parnes ).
Vistra Corp. , an integrated retail electricity and power generation company based in Irving, Texas, completed the acquisition of Energy Harbor , an electric utility company in Akron, Ohio, from Avenue Capital Group , an investment firm, and Nuveen, a TIAA company , an American asset manager, for $3.43bn.
"Today's closing represents our commitment to leading a responsible transformation of the country's energy supply to greener energy sources through the expansion of our zero-carbon generation portfolio while continuing to prioritize reliable and affordable electricity for the customers we serve. We now own the second-largest competitive nuclear fleet in the US, complementing our existing reliable, flexible, and dispatchable generation assets and our leading retail business," Jim Burke, Vistra President and CEO.
Energy Harbor was advised by 高盛 , RBC Capital Markets , Dechert LLP (led by Mark Thierfelder , Eric Siegel and Michael Darby ) and Morgan, Lewis & Bockius LLP . Financial advisors were advised by Sullivan & Cromwell LLP (led by Stephen Kotran ). Vistra was advised by 花旗 , Balch & Bingham LLP and Latham & Watkins (led by Trina Chandler , David Kurzweil and Caroline Blitzer Phillips ). Avenue Capital Group was advised by Kekst CNC (led by Todd Fogarty ).
Reddit is targeting up to $6.5bn valuation in IPO.
Reddit, Inc. is eyeing a valuation of as much as $6.5bn in its initial public offering, Bloomberg reported.
The social media company plans to target a price range of $31 to $34 per share in the first-time share sale. At that price range, Reddit would have a fully diluted value of about $6bn to $6.5bn.
JAB seeks up to $2.5bn in Keurig Dr Pepper share sale. (FS)
German conglomerate JAB is seeking to raise as much as $2.5bn from the sale of a block of producer and distributer of hot and cold beverages Keurig Dr Pepper Inc. shares, Bloomberg reported.
A subsidiary of the investment firm backed by the billionaire Reimann family is marketing about 87m shares for $29.10 to $29.25 each.
Interested to find more? Sign up here to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today’s complete newsletter here .