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Bunge finalizing a $30bn merger with Viterra.
Nordic Capital pursues a $6.7bn deal for Temenos as other suitors drop. (FS)
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TPG, a global alternative asset management firm, and AmerisourceBergen, an American drug wholesale company, completed the acquisition of OneOncology, an oncology practices network, from General Atlantic, an American growth equity firm, for $2.1bn.
"Our 2018 investment in OneOncology helped launch a shared vision to improve the future of cancer care amidst prevailing cost, quality and access issues. We are proud that this mission-driven approach has resulted in a leading oncology platform that empowers high-quality and innovative cancer care in the community setting. We wish Dr. Patton and the OneOncology team continued success in their next phase of growth," Justin Sunshine, General Atlantic Managing Director.
TPG was advised by Guggenheim Partners, Debevoise & Plimpton (led by?Paul Bird?and?Spencer Gilbert) and Mintz Levin. AmerisourceBergen was advised by JP Morgan, Morgan Lewis & Bockius (led by?Aaron D. Suh), Sidley Austin and Joele Frank (led by?Scott Bisang). General Atlantic was advised by Centerview Partners and Paul Weiss Rifkind Wharton & Garrison (led by?Ellen Ching?and?Matthew Abbott).
NET Power, a clean energy technology company, went public via a SPAC merger with Rice Acquisition II, a special purpose acquisition company, in a $1.5bn deal. The transaction includes a PIPE investment from Occidental, 8 Rivers, Constellation and other investors.
"This deal sets NET Power on a path to accelerate the buildout and commercialization of our technology and bring the world the trifecta of clean, affordable, and reliable energy. Rapid deployment of decarbonized baseload power around the world is critical to addressing climate change and NET Power's technology offers a path forward. I'm excited to join the team and lead the global deployment of this critical technology," Danny Rice, NET Power CEO.
NET Power was advised by Credit Suisse, Mintz Levin and Paul Hastings (led by?Will Burns). Occidental was advised by White & Case (led by?Emery Choi). Rice Acquisition II was advised by Barclays, Citigroup, Guggenheim Partners, Kirkland & Ellis and FleishmanHillard (led by?Amy Rosenberg). Financial advisors were advised by Vinson & Elkins (led by?E. Ramey Layne?and?Brenda Lenahan).
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BlackRock, a private equity firm, agreed to acquire a 30% stake in AirFirst, an industrial gasses company, from IMM Private Equity, a private equity firm, for $860m.
BlackRock competed with three other shortlisted bidders — KKR, Canada-based Brookfield and CVC Capital — to buy the AirFirst shares up for grabs.
BlackRock is advised by JP Morgan.
Bunge finalizing a $30bn merger with Viterra.
US grains merchant Bunge is putting the final touches on a deal to merge with Glencore-backed peer Viterra and create an agricultural trading giant worth more than $30bn, including debt.
The deal, whose terms have not been previously reported, would come as Russia's war in Ukraine has tested the security of supply in global food markets. Its potential impact would be examined closely by antitrust regulators.
Bunge, whose market value is about $14bn and carries debt net of cash of about $2.7bn, will pay for most of the deal with stock but will also use cash and has lined up debt financing from banks. Privately held Viterra's shareholders, which beyond Glencore include the Canada Pension Plan Investment Board and British Columbia Investment Management, may sign off on the deal as early as this weekend if the negotiations conclude successfully,?Reuters?reported.
Nordic Capital pursues a $6.7bn deal for Temenos as other suitors drop. (FS)
Nordic Capital is one of the last suitors for Temenos after rival buyout firms dropped from the latest attempt to sell the Swiss banking software maker.?
The Swedish private equity firm is holding talks with Temenos and lining up financing as it pursues a potential deal as early as this month. Nordic Capital could seek co-investors for the deal, given Temenos’s market value of $6.7bn.
Previous suitors including EQT, Thoma Bravo and Permira are no longer in the race. Other private equity firms including Blackstone are still studying the asset, though not actively in takeover talks,?Bloomberg?reported.
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