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PAI exploring options for $10bn Nestle ice cream JV. (FS)
EQT and KKR are among suitors for $5bn Broadcom asset. (FS)
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The Washington State attorney general is planning to file a lawsuit to block supermarket chain Kroger 's proposed $24.6bn acquisition of smaller rival Albertsons .
The proposed merger has drawn the ire of US lawmakers and an investigation by the FTC due to antitrust concerns, with worries piling up that the deal would lead to higher prices for consumers, store closures and loss of jobs. While Kroger has proposed to divest 413 stores to C&S Wholesale Grocers to get regulatory approval, lawmakers argued the sale would not address harm to consumers, workers, and the grocery industry, Reuters reported.
Albertsons is advised by 瑞信 , 高盛 , Debevoise & Plimpton , Fried Frank , Jenner & Block , Wachtell, Lipton, Rosen & Katz , White & Case LLP and 博然思维集团 . Credit Suisse and Goldman Sachs are advised by Alston & Bird , Cravath, Swaine & Moore LLP and Davis Polk & Wardwell LLP . Kroger is advised by 花旗 , 富国银行 , Arnold & Porter , Weil, Gotshal & Manges LLP and Joele Frank . Cerberus Capital Management is advised by Dechert LLP and FGS Global .
BlackRock , an American multinational investment company, agreed to acquire Global Infrastructure Partners (GIP) , an independent infrastructure fund manager, for $12.5bn.
"Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy. We believe the expansion of both physical and digital infrastructure will continue to accelerate, as governments prioritize self-sufficiency and security through increased domestic industrial capacity, energy independence, and onshoring or near-shoring of critical sectors. Policymakers are only just beginning to implement once-in-a-generation financial incentives for new infrastructure technologies and projects," Erwann Le Clerc , BlackRock Chairman and CEO.
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Global Infrastructure Partners is advised by Evercore . Debevoise & Plimpton and Kirkland & Ellis (led by Lavon-Krein Daniel and Christopher M. Gandia ). BlackRock is advised by Perella Weinberg , Fried Frank and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by David Hepp and Brian V. Breheny ).
Summit Materials , a building materials company, completed the merger with Cementos Argos , a Colombian construction materials producer, in a $3.2bn deal.
"Combining Argos USA with Summit is a significant milestone as we execute against and accelerate our materials-led portfolio strategy. The transaction will extend our geographic reach into high growth markets, creating a leading cement enterprise nationwide, and bring together two talent-rich organizations to innovate and deliver value-added solutions for our customers. Financially, we have clear line of sight to achieving targeted synergies of more than $100m annually as we unlock the full potential of this powerful combination," Anne Noonan , Summit Materials President and CEO.
Summit Materials was advised by 摩根士丹利 , Davis Polk & Wardwell LLP , Davis Graham & Stubbs LLP and Joele Frank (led by Andrew Siegel and Jed Repko ). Cementos Argos was advised by J.P. 摩根 and Sullivan & Cromwell LLP . Debt financing was provided by 摩根士丹利 .
PAI exploring options for $10bn Nestle ice cream JV.
Private equity firm PAI Partners is in the early stages of exploring options for its ice cream joint venture with 雀巢 that includes brands like Haagen-Dazs, Bloomberg reported. The venture, Froneri , could be valued at more than $10bn in a transaction.?
PAI could launch a so-called dual-track process in the second half of the year, exploring both a sale and initial public offering of its stake in the business. Nestle is expected to retain its stake. Nestle and PAI each own about half of Froneri.?
EQT and KKR are among suitors for $5bn Broadcom asset. (FS)
EQT Group and KKR are among private equity firms interested in acquiring a software business being sold by 博通 in the wake of its takeover of VMware , Bloomberg reported.
Thoma Bravo has also been studying a possible bid for the so-called end-user computing unit. The business, which provides software enabling users to access desktops and applications remotely, could be valued at roughly $5bn including debt.
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