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Occidental explores $20bn-plus sale of Western Midstream. (Financial Sponsors)
CVC raises $6.8bn for sixth Asia fund. (FS)
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Saint-Gobain , an offeror of design, manufacturing, and distributing building materials internationally, offered to acquire CSR Limited , a manufacturer of building products for home buildings, renovations and commercial construction, for $2.8bn.
Saint-Gobain believes that the combination is an attractive opportunity for both companies leveraging our long-term partnership with similar business models, cultural fit and development opportunities. This acquisition would be fully aligned with Saint-Gobain's strategy as a worldwide leader in light and sustainable construction and an opportunity to enter the Australian market.
沃尔玛 , an American multinational retail corporation, agreed to acquire VIZIO , a consumer electronics company, for $2.3bn.
“We believe this is the ideal next chapter in VIZIO’s history. By bringing our capabilities and resources together, we’ll drive innovation and create even more value for our customers. Walmart’s approach is aligned with VIZIO’s mission and vision, and our technology will help bring a scaled, connected TV advertising platform to Walmart Connect. This transaction delivers immediate and compelling value to VIZIO stockholders and is a true testament to the hard work of the entire VIZIO team,” William Wang, VIZIO CEO.
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VIZIO is advised by Wilson Sonsini Goodrich & Rosati (led by Rezwan Pavri , Mark Bass, Martin W. Korman, Douglas K. Schnell, Remi Korenblit and Ross Tanaka ), J.P. 摩根 and FGS Global (led by Kelsey Markovich and Leah Polito ). Walmart is advised by Evercore and 霍金路伟 (led by Jane Ross, Katherine Keeley and Richard Climan ).
Jim Ratcliffe, a British billionaire, completed the acquisition of a 25% stake in Manchester United , a football club, from the Glazer family for £1.2bn ($1.5bn).
“To become co-owner of Manchester United is a great honour and comes with great responsibility. This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today,” Jim Ratcliffe.
Manchester United was advised by The Raine Group (led by Colin Neville ) and Latham & Watkins (led by Ian A. Nussbaum, Justin G. Hamill and Robert Katz ). Jim Ratcliffe was advised by 高盛 , J.P. 摩根 (led by Harry Hampson), Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Krishna Veeraraghavan and Benjamin Goodchild ) and Slaughter and May . Glazer family was advised by Rothschild & Co (led by Majid Ishaq).
Occidental explores $20bn-plus sale of Western Midstream. (FS)
Oxy is exploring a sale of Western Midstream Partners, a US natural gas-focused pipeline operator that has a market value of close to $20bn, including debt, Reuters reported.
The divestment would help Occidental, which is backed by Warren Buffett's Berkshire Hathaway, slash the $18.5bn debt pile it has accumulated because of acquisitions.
CVC raises $6.8bn for sixth Asia fund. (FS)
Private equity major CVC has closed $6.8bn for its sixth flagship Asia fund to make control, co-control, and partnership investments in core consumer and services sectors across the region, DealStreetAsia reported.
The fund most recently received a $125m commitment from the Teacher Retirement System (TRS) of Texas. Other limited partners in the fund include the California State Teachers’ Retirement System, Canadian Pension Plan Investment Board (CPPIB) and The Oregon Public Employees Retirement System.
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