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UBS sells $8bn of Credit Suisse assets to Apollo. (FS)
Ardian-backed lab chain Inovie considers €3bn sale. (FS)
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South African billionaire Patrice Motsepe is in talks with Vivendi 's CANAL+ Group to join its multibillion-dollar bid for broadcaster MultiChoice Group , Bloomberg reported.
Bringing South Africa's richest Black man into the deal would likely help the French media conglomerate meet the country's stringent Black ownership requirements. Discussions are at an early stage and there is no guarantee that an agreement will be reached.
MultiChoice is advised by Morgan Stanley. Canal+ is advised by 博然思维集团 (led by Timothy Schultz ).
CPS Energy , a municipally owned natural gas and electric company, agreed to acquire 1710 MW generation portfolio from Talen Energy , a company that operates as an energy and power generation and marketing company in North America, for $785m.?
"The purchase of these assets furthers CPS Energy's commitment to deliver reliable and affordable energy supply to one of the nation's fastest growing communities, while also balancing our commitment to reduce carbon emissions by 2030. The investments we are making to purchase and improve the performance of these plants provide cost benefits when compared to building new assets, which means reliability now at a lower price for our community. In addition to these facilities, as our community continues to grow, we are also adding low and zero-carbon resources as well as energy storage to enable that additional growth," Rudy Garza, CPS Energy President & CEO.
CPS Energy is advised by J.P. 摩根 and Dykema . Talen Energy is advised by RBC Capital Markets and Kirkland & Ellis (led by Bill Benitez , Joshua Teahen , Andy Calder and Blake X. Longoria ).
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Greif , an American manufacturing company, completed the acquisition of IPACKCHEM GROUP , a producer and distributor of plastic packaging products, from SK Capital Partners , a private equity firm, for $538m.?
"We are thrilled to welcome an exceptional 1.4k Ipackchem colleagues to Greif. Adding Ipackchem to the Greif portfolio is another key step forward in executing our Build to Last strategy and helps unlock significant new capabilities and market opportunities to further grow as a world leader in high-performance small plastic containers and jerrycans. Our teams have been planning our integration strategy over the past several months, which we will begin implementing immediately post-closing to drive incremental benefits, support future growth, and capture our targeted $7m of synergies," Ole Rosgaard, Greif President and Chief Executive Officer.
Greif was advised by Stifel Financial Corp. (led by Celedonio Moncayo ).
UBS sells $8bn of Credit Suisse assets to Apollo. (FS)
瑞银集团 has sealed the sale of 瑞信 's securitised products business to Apollo Global Management, Inc. as part of efforts to shed non-core assets after its takeover of the collapsed banking group, Reuters reported.
Apollo will purchase $8bn of "senior secured financing facilities" adding that it expects to make a net gain of about $300m from the deal in the first quarter of 2024. For UBS, these actions will allow the bank to further accelerate its plans to unwind and more efficiently simplify its NCL portfolio, while minimizing any disruption to clients, and reduce risk-weighted assets and leverage ratio denominator in NCL.
Ardian-backed lab chain Inovie considers €3bn sale. (FS)
INOVIE (Groupe) , the French laboratories chain backed by buyout firm Ardian , is considering a potential sale that could value the business at more than €3bn ($3.2bn), Bloomberg reported.?
Owners of the French company, which operates more than 650 laboratory sites, are working with advisers to prepare for a potential sale of the business in the second half of the year. Inovie, which was founded in 2010, could draw interest from other private equity firms and infrastructure investors.?
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