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ADIA weighs $2bn bids in Associated British Ports.?
India's Tata Motors in talks to raise $1bn via minority stake sale in EV business.
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A?Brookfield Asset Management-led consortium trimmed its offer for?Origin Energy?by 1%, valuing Australian?power producer and energy retailer at AUD15.33bn ($10.5bn), after government moves to cap gas prices hit valuations in the sector.
Shares in Origin surged 13% to AUD7.90 ($5.43) in early trade but remained well below the new tabled offer of AUD8.90 ($6.12) per share as investors weighed the risks of a transaction going ahead,?Reuters?reported.
Origin Energy is advised by?Barrenjoey,?Jarden,?Herbert Smith Freehills?(led by?Rebecca Maslen-Stannage). Brookfield Renewable Partners is advised by?Allens,?White & Case LLP?(led by?Christopher Flynn). Eig Global Energy Partners is advised by?FGS Global?(led by?Kelly Kimberly).?
Hydro-Québec , an electricity generating, transmitting and distributing company, completed the acquisition of Great River Hydro, LLC , a hydropower producing company, from ArcLight Capital Partners , a private equity firm, for $2bn.
"As a long-time owner and operator of hydroelectric assets across the United States, ArcLight was pleased to support Great River Hydro's establishment as a premier renewable energy infrastructure platform. We expect the Company to continue playing a leading role in the energy transition in New England, and we look forward to its ongoing success," Dan Revers, ArcLight Founder and Managing Partner.
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Hydro-Québec was advised by Morgan, Lewis & Bockius LLP (led by?John Klauberg). ArcLight was advised by TD , Latham & Watkins (led by? David Allinson ?and? Jane Greyf ), and Stanton (led by? Charlyn Lusk ).
Private equity firms Stone Point Capital and Mubadala agreed to acquire a 20% stake in TIH , an insurance brokerage firm, from Truist , a financial services firm, for $1.95bn.
"We are excited for this collaboration with Stone Point, as the investment demonstrates the significant value of Truist Insurance Holdings and strategically positions it, and Truist, for long-term success," Bill Rogers, Truist Chairman and CEO.
Stone Point is advised by Simpson Thacher & Bartlett LLP (led by? Elizabeth Cooper ?and? Mark Viera ). Truist is advised by 摩根士丹利 , Truist Securities and Davis Polk & Wardwell LLP (led by? Margaret Tahyar ?and? Oliver Smith ).
ADIA weighs $2bn bids in Associated British Ports. (FS)
Sovereign wealth fund?Abu Dhabi Investment Authority (ADIA)?is among the parties considering a bid for a 34% stake in?Associated British Ports?that could be valued at about $2.4bn or more,?Reuters?reported.
Stonepeak?and British Columbia Investment Management are among the other investors interested in the stake being sold by the Canada Pension Plan Investment Board.
India's Tata Motors in talks to raise $1bn via minority stake sale in EV business. (FS)
Indian carmaker?Tata Technologies?Motors has begun talks with sovereign wealth funds and private equity investors to raise up to $1bn via a stake sale in its electric vehicle business,?DealStreetAsia?reported.?
The company plans to sell a significant minority stake, eyeing a valuation of about $10.5bn. The funds and investors include the UAE-based?Abu Dhabi Investment Authority (ADIA)?and?Mubadala, the Saudi Arabia-headquartered?Public Investment Fund (PIF), Singapore’s?Temasek, and?KKR?and?General Atlantic.
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