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Advent is said to seek bids for Aareal's €3bn software arm. (FS)
Cisco launches $1bn fund for AI startups, makes first investments.
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Apollo Global Management, Inc. , an American asset management firm, and 英特尔 , an American multinational corporation and technology company, agreed to form a $11bn joint venture.
“Intel’s agreement with Apollo gives us additional flexibility to execute our strategy as we invest to create the world’s most resilient and sustainable semiconductor supply chain. Our investments in leading-edge capacity in the US and Europe will be critical to meet the growing demand for silicon, with the global semiconductor market poised to double over the next five years. This transaction allows us to share our investment with an established financial partner on attractive terms while maintaining our strong investment-grade credit rating,” David Zinsner, Intel CFO.
Apollo is advised by Latham & Watkins and Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Ravi Purohit , Ross Fieldston and Gregory Ezring). Intel is advised by 高盛 , J.P. 摩根 , Eversheds Sutherland and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Michelle Gasaway and Christopher Bors ).
Vanguard International Semiconductor Corporation (VIS) , a Taiwanese specialized IC foundry service provider, and 恩智浦半导体 , a Dutch semiconductor designer and manufacturer, agreed to form VisionPower Semiconductor Manufacturing Company in a $7.8bn deal, to build a new 300mm semiconductor wafer manufacturing facility in Singapore.
“NXP continues to take proactive actions to ensure it has a manufacturing base which provides competitive cost, supply control, and geographic resilience to support our long-term growth objectives. We believe VIS is well suited and fully understands the complexities involved in building and operating together with NXP a 300mm analog mixed signal fab. The joint venture partnership we intend to create with VIS perfectly aligns within NXP’s hybrid manufacturing strategy,” Kurt Sievers, NXP President and CEO.
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Authentic Brands Group, a global brand development, marketing, and entertainment platform, agreed to acquire Champion , a producer of high-quality sports apparel, from HanesBrands, an American multinational clothing company, for?$1.2bn.?
"We are excited to acquire Champion, a brand that shares our pioneering spirit. Over the last few years, the addition of new brands together with the expansion of live events has grown Authentic into a world leading sports and entertainment licensing company. Bringing Champion into the fold further expands our position in this space,” Jamie Salter, Authentic Chairman and CEO.
HanesBrands is advised by Evercore , 高盛 , 众达律师事务所 and Kirkland & Ellis .?Authentic Brands Group is advised by 美国银行 , J.P. 摩根 and Latham & Watkins .
Advent is said to seek bids for Aareal's €3bn software arm. (FS)
Advent has asked for first-round bids for the software arm of real estate lender Aareal Bank AG . The buyout firm may seek an equity value of at least €3bn ($3.3bn) for the Aareon unit, Bloomberg reported. ?
It is expected to attract interest from other buyout firms. Suitors may opt to bid for Advent's 30% direct stake in Aareon or for 100% of the business. Advent bought 30% of Aareon from Aareal in 2020.
Cisco launches $1bn fund for AI startups, makes first investments.
思科 , on June 4, launched a $1bn fund to invest in artificial intelligence startups, joining a list of big technology companies rushing to take stakes in small AI firms, DealStreetAsia reported.
The company, through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200m of the fund. AI data startup Scale AI is valued at nearly $14bn, while so-called foundation model developers Cohere and Mistral are both reportedly in talks with investors to raise funds at a valuation of $5bn each.
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