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Blackstone sells stake in €4bn Spanish hotel chain to GIC.
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Germany nears €3bn deal in push to merge power grids.
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Origin Energy 's largest shareholder said it plans to vote against a Brookfield -led consortium's $9.78bn takeover offer for the company, casting doubt on the bid's future weeks ahead of a shareholder vote on the deal, Reuters reported.
AustralianSuper, the country's largest pension fund, owns a 13.68% stake in Origin Energy and said the consortium's offer was "substantially below" its estimate of long-term value for Australia's biggest energy retailer.
Origin Energy is advised by Barrenjoey , Jarden and Herbert Smith Freehills (led by Rebecca Maslen-Stannage). EIG Global is advised by J.P. 摩根 and FGS Global (led by Kelly Kimberly). Brookfield is advised by 花旗 , Allens and White & Case LLP (led by Christopher Flynn).
Zegona Communications Plc , an investor, agreed to acquire Vodafone Spain, a mobile telecommunications operator in Spain headquartered in Madrid, from Vodafone Group, a technology communications company, for $5.3bn.
"The sale of Vodafone Spain is a key step in right-sizing our portfolio for growth and will enable us to focus our resources in markets with sustainable structures and sufficient local scale. I would like to thank our entire team in Spain for their dedication to our customers and relentless determination to improve our organic performance. However, the market has been challenging with structurally low returns," Margherita Della Valle , Vodafone CEO.
Vodafone is advised by Evercore , 摩根士丹利 , Robey Warshaw and Slaughter and May . Zegona is advised by Llorente y Cuenca (led by?Valvanera Lecha) and Tavistock (led by?Jos Simson).
TDR Capital -backed Asda Group, a supermarket chain, completed the acquisition of UK and Ireland operations from EG Group , a retailer which operates filling stations, convenience stores and fast-food restaurants, for ￡2.07bn ($2.5bn).
"This is a great day for Asda and for millions of UK consumers. Asda is a much-loved brand that is instantly recognised for great value. I could not be more proud or excited that the iconic Asda sign is now coming to hundreds more communities," Mohsin Issa, Asda Co-Owner.
Asda was advised by 普华永道 , Eastdil Secured , J.P. 摩根 , Lazard , 摩根士丹利 , PJT Partners , Rothschild & Co (led by Christian Savvides), Addleshaw Goddard , Allen & Overy (led by Annette Kurdian and John Kicken), Kirkland & Ellis (led by Aneeq Durrani and Stuart Boyd), Latham & Watkins (led by Francesco Lione) and FGS Global (led by Rollo Head). TDR Capital was advised by Barclays . EG Group was advised by Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by George Knighton) and FGS Global .
Blackstone sells stake in €4bn Spanish hotel chain to GIC. (FS)
AGM - Axion Group Management is selling a stake in Spanish hotel group Hotel Investment Partners (HIP) to Singaporean sovereign wealth fund GIC , in a move that will provide capital for the business to expand at a time when borrowing costs are soaring, Financial Times reported.
GIC will acquire a 35% stake in the company in a deal that values HIP at more than €4bn ($4.2bn).
Germany nears €3bn?deal in push to merge power grids.
Germany’s government plans to buy a 25% stake in transmission system operator TransnetBW from majority owner EnBW Energie Baden-Wuerttemberg, a move that will support its aim of consolidating the nation’s power grids, Bloomberg reported.
The acquisition worth €3.2bn ($3.4bn) will be carried out through a call option by the state-owned Bank KfW.
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