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Goldman Sachs raises over $20bn to invest in private credit. (Financial Sponsors)
Saudi Arabia sets new test for international interest with $13.1bn Aramco sale.
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å¼ºç”Ÿå…¬å¸ , a pharmaceutical?and medical technologies corporation, completed the acquisition of acquire Shockwave Medical , a provider of innovative intravascular lithotripsy technology for the treatment of calcified CAD and PAD, for $13.1bn.
"Through Innovative Medicine and MedTech, Johnson & Johnson is transforming the trajectory of cardiovascular disease, one of the leading causes of death globally. We are delighted to welcome the Shockwave team to Johnson & Johnson and look forward to bringing their innovative IVL technology to more patients around the world," Joaquin Duato, Johnson & Johnson Chairman and CEO.
Shockwave Medical was advised by Perella Weinberg and Fenwick & West (led by Bomi Lee , Douglas Cogen , Jennifer Hitchcock and Ran Ben-Tzur ). Johnson & Johnson was advised by J.P. æ‘©æ ¹ , 富而德律师事务所 (led by Damien Zoubek and Sanjay Murti ) and Joele Frank (led by Leigh Parrish ).
Zegona Communications, a network-based communications and entertainment business, completed the acquisition of the Spanish business of Vodafone , a technology communications company, for €5bn.
"We have now completed the acquisition of Vodafone Spain and look forward to transforming the business and returning it to growth. I am pleased to welcome José Miguel GarcÃa to lead Vodafone Spain as CEO, reuniting a team that has a proven track record of highly successful operational transformations in Spanish telecoms. The new 10-year network access agreement signed with Finetwork earlier this week demonstrates our ability to move swiftly on our well-defined strategy. With our proven track record, we are confident we will improve the performance of Vodafone Spain whilst delivering significant value for shareholders," Eamonn O'Hare, Zegona Chairman and CEO.
Zegona was advised by Canaccord Genuity Group Inc. , Deutsche Numis , ING , UniCredit , å¾·æ„志银行 , 瑞银集团 , Gómez-Acebo & Pombo (led by Fernando de las Cuevas ?and Alexander Kolb ), Milbank LLP (led by Russell Jacobs and? Sarbajeet Nag ), Travers Smith (led by Aaron Stocks ), Llorente Y Cuenca and Tavistock (led by Jos Simson ). Debt financing was provided by Canaccord Genuity Group Inc. , Deutsche Numis , ING and UniCredit . Vodafone was advised by Evercore (led by Juan Pedro Pérez Cózar ), æ‘©æ ¹å£«ä¸¹åˆ© (led by? Nuno Machado ?and Anthony Zammit ), Robey Warshaw (led by?Simon Warshaw), Garrigues (led by álvaro López-JorrÃn Hernández and Javier Marzo ) and Slaughter and May (led by? Victoria MacDuff ?and James Cook ).
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瑞银集团 , a multinational investment bank and financial services company, completed the acquisition of 瑞信 , a global investment bank and financial services firm founded and based in Switzerland, for CHF3bn ($3.3bn).
"Today we have achieved a significant milestone in our integration journey. The merger of our parent banks is critical to facilitating the migration of clients onto UBS platforms. It will also unlock the next phase of cost, capital, funding and tax benefits from the second half of 2024. As we embark on this transitional phase of operational consolidation, we will remain focused on serving our clients, following through on our strategy, investing in our people, and acting as a pillar of economic support in the communities where we live and work," Sergio P. Ermotti, UBS CEO.
Credit Suisse was advised by Alvarez & Marsal (led by Fernando De La Mora , David Edmonds and Alessandro Farsaci, CFA ), Centerview Partners (led by Blair Effron ), Rothschild & Co (led by Nick Bossart and Jacques Deege ), Chiomenti (led by Filippo Modulo and Alessandro Portolano ), Cleary Gottlieb Steen & Hamilton LLP (led by David Lopez ), Cravath, Swaine & Moore LLP (led by Ronald E. Creamer Jr.), Homburger (led by Claude Lambert , Daniel Daeniker and Benjamin Leisinger ), Khaitan & Co (led by Vivek Mimani ), Sullivan & Cromwell LLP (led by Mitchell Eitel ) and Community Group (led by Auro Palomba and Roberto Patriarca ). UBS was advised by J.P. æ‘©æ ¹ , æ‘©æ ¹å£«ä¸¹åˆ© , 瑞银集团 , B?r & Karrer (led by Rolf Watter ), Cyril Amarchand Mangaldas (led by Cyril Shroff ), Davis Polk & Wardwell LLP (led by Marc O. Williams , Luigi L. De Ghenghi and Evan Rosen ), 富而德律师事务所 (led by Michael Raffan and Jennifer Bethlehem ), åšç„¶æ€ç»´é›†å›¢ and Community Group (led by Marco Rubino). Financial advisors were advised by Latham & Watkins (led by Samuel Newhouse , Bradley Faris and Ed Barnett ).
Goldman Sachs raises over $20bn to invest in private credit. (FS)
高盛 amassed a war chest of more than $20bn for private credit investments, underscoring the surge of interest in the asset class.
The alternatives part of its asset management arm announced the final close of West Street Loan Partners V, its latest in a series of large-cap senior direct lending vehicles, at $13.1bn total capital. In addition, Goldman Sachs Alternatives closed on more than $7bn in large-cap senior direct lending management accounts and $550m of co-investment vehicles. Institutional investors in the strategy include US and international pension plans, insurance companies, and sovereign wealth funds. Investors from Goldman Sachs Private Wealth Management, family offices, and third-party wealth channels also made commitments.
"The market for senior direct lending continues to benefit from the growing demand from financial sponsors. While we expect the syndicated markets and private credit markets to continue to co-exist, we are seeing an increase in attractive opportunities for alternative lending sources that can provide size, structural flexibility and certainty of execution to borrowers," James Reynolds, Goldman Sachs Alternatives Global Head of Direct Lending.
Saudi Arabia sets new test for international interest with $13.1bn Aramco sale.
Saudi Arabia and its bankers on Sunday will start taking orders for as much as $13.1bn worth of shares in its energy giant aramco , in a major test of international investor interest in its market.
In a long-anticipated announcement, the kingdom and Aramco detailed plans to sell up to a 0.7% in the state-controlled oil company, with 10% of the offering reserved for retail investors, based on demand. Order-taking will run through June 6 and the deal will price on June 7.
The deal will be a test of interest in Saudi markets after lukewarm demand from international investors for the IPO amid concerns about a high valuation, Saudi government control and the energy transition away from hydrocarbons, Reuters reported.
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