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Ares Management closes record-breaking $34bn private credit fund. (FS)
Buyout firms circle Carlyle's €2bn Forgital. (FS)
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The EU Commission on August 1 said it had unconditionally approved the $14bn takeover of networking gear maker 瞻博网络 by 惠普企业服务 , Reuters reported.
The commission said its investigation had shown the deal would not significantly reduce competition in the markets for wireless local area network equipment and access points, ethernet campus switches and datacentre switches.
Juniper Networks is advised by 高盛 , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Amr Razzak ), and Joele Frank (led by Jed Repko ). Goldman Sachs is advised by 普衡律师事务所 (led by Steve Camahort ). Hewlett Packard Enterprise is advised by J.P. 摩根 , Qatalyst Partners , Covington & Burling LLP (led by J. D. Weinberg), 富而德律师事务所 (led by Jenn Mellott , Alan Ryan , Thomas Janssens , and Martin McElwee ), Wachtell, Lipton, Rosen & Katz (led by Raaj Narayan , Benjamin Roth , Steven Green and Andrew Brownstein ), and FGS Global (led by Taylor Brown ). Financial advisors are advised by Sullivan & Cromwell LLP (led by Melissa Sawyer ). Debt financing was provided by 花旗 , J.P. 摩根 and 瑞穗实业银行 .
TowerBrook Capital Partners L.P. , an investment management firm, and Clayton, Dubilier & Rice , an American private equity company, agreed to acquire R1 RCM , an American revenue cycle management company, for $8.9bn.
“TowerBrook has been an outstanding long-term investor and partner to R1 and shares our vision of being the automation platform of choice for the provider industry. Our agreement reflects TowerBrook’s and CD&R’s confidence in our team and the unmatched scale, technology and value we provide. We believe the transaction represents the best path forward for R1 at an attractive valuation to our stockholders that reflects the Company’s position as a leading provider of technology-driven solutions for its customers,” Lee Rivas, R1 RCM CEO.
TowerBrook is advised by Centerview Partners , 德意志银行 , RBC Capital Markets , Wachtell, Lipton, Rosen & Katz (led by George Tepe , Steven Cohen and Victor Goldfeld ) and 博然思维集团 (led by Alex Yankus ). CD&R is advised by Centerview Partners , 德意志银行 , RBC Capital Markets and Debevoise & Plimpton (led by Kevin Rinker , Katherine Durnan Taylor and Chris Anthony ). R1 RCM is advised by Barclays , Qatalyst Partners , Kirkland & Ellis (led by Robert Hayward , Sarkis Jebejian , Brad Reed , and Steven Choi ), Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Faiz Ahmad , Graham Robinson and Laura Knoll ) and Joele Frank (led by Andrea Rose). Financial advisors are advised by Sullivan & Cromwell LLP (led by Stephen Kotran ). Debt financing is provided by 德意志银行 and RBC .
AbbVie , a global biopharmaceutical company, completed the acquisition of Cerevel Therapeutics , a biopharmaceutical company focused on developing new therapies, for $8.7bn.
"AbbVie's acquisition of Cerevel strengthens our foundation in neuroscience and positions us to deliver sustainable long-term performance into the next decade and beyond. Our new Cerevel colleagues share our commitment to deliver meaningful change for patients living with neurological and psychiatric conditions. We are excited to welcome the talented Cerevel team to AbbVie," Robert A. Michael, AbbVie CEO.
Cerevel Therapeutics was advised by Centerview Partners (led by Alan Hartman ), Latham & Watkins (led by Charles Ruck and Daniel Rees ), and Joele Frank (led by Andrea Rose). Centerview Partners was advised by Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by Christopher Barlow ). AbbVie was advised by 摩根士丹利 (led by Joseph Modisett ), Gibson Dunn (led by Michael Perry ), and Kirkland & Ellis (led by Eric Schiele , Carlo Zenkner and Jimin He ).
Ares Management closes record-breaking $34bn private credit fund. (FS)
Global alternative asset manager Ares Management Corporation , has closed its latest private credit fund at $34bn, making it the largest private credit fund ever raised, and reflecting a high level investor demand for the asset class.
The new fund, Ares Private Credit Fund VI, which surpassed its initial fundraising target, will focus on providing flexible and innovative financing solutions to middle-market companies across North America and Europe, emphasising senior secured loans, subordinated debt, and other private credit instruments.
Buyout firms circle Carlyle's €2bn Forgital. (FS)
Bain Capital and Cinven are among buyout firms studying Forgital Group , an Italian manufacturer of forged components mainly for the aerospace sector, Bloomberg reported.
Blackstone and Warburg Pincus LLC are also among the interested parties for the business, which could be valued at as much as €2bn ($2.2bn) in a sale. The asset could also attract other companies in the same industry.
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