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Koch Family invests in Brooklyn Nets owner at $6bn value.?
Carlyle explores a $4bn sale of Cogentrix Energy.?
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The Home Depot, a home improvement retailer, completed the acquisition of SRS Distribution Inc., a residential specialty trade distribution company across several verticals serving the professional roofer, landscaper and pool contractor, from Leonard Green & Partners and Berkshire Partners, two private equity investors, for $18.25bn.
"SRS is an excellent fit for The Home Depot – it's both complementary and additive to our growth. Their ability to quickly build leadership positions in each of their specialty trade verticals is a testament to the team's strong vision, leadership, culture and execution. SRS's outstanding customer service, capabilities, and expertise will help us drive value for our customers, associates and shareholders, and we're excited to welcome the SRS team to The Home Depot," Ted Decker, The Home Depot Chair, President and CEO.
SRS Distribution was advised by Goldman Sachs, Jefferies, Latham & Watkins (led by Michael Vardanian, Paul Kukish and Daniel H. Williams). The Home Depot was advised by J.P. Morgan, Weil, Gotshal & Manges LLP (led by Eoghan Keenan and Michael J. Aiello). Leonard Green was advised by UBS.
CVC Capital Partners, Nordic Capital and Abu Dhabi Investment Authority (ADIA), offered to acquire Hargreaves Lansdown, a financial service company based in Bristol that sells funds and shares and related products, for ￡5.4bn ($6.8bn).
Hargreaves Lansdown said its board will unanimously support the revised offer at the proposed value. CVC Capital Partners, Nordic Capital and Platinum Ivy — a subsidiary of sovereign wealth fund Abu Dhabi Investment Authority — latest offer follows previous approaches from the consortium.
Hargreaves Lansdown is advised by Barclays (led by Alisdair Gayne), Deutsche Numis (led by Charles Farquhar), Fenchurch Advisory Partners (led by Richard Locke), Morgan Stanley (led by Gillian Sheldon) and Brunswick Group (led by Nick Cosgrove).
Ardian, a private equity investment firm, and Public Investment Fund (PIF), a sovereign wealth fund by the government of Saudi Arabia, revised their bid to acquire a 37.6% stake in Heathrow Airport from Ferrovial for ￡3.26bn ($4.17bn).
Ardian will acquire c. 22.6% while Saudi Arabia's Public Investment Fund will acquire c. 15%. In November, Ferrovial said it was planning to offload its stake, with Saudi Arabia's Public Investment Fund taking 10% and the other 15% going to French private equity group Ardian.
PIF is advised by Barclays and Latham & Watkins. Ardian is advised by Bank of America, RBC Capital Markets, Santander, Clifford Chance, 5654 & Company, Brunswick Group and Kekst CNC. Ferrovial is advised by J.P. Morgan and Allen & Overy.
Koch Family invests in Brooklyn Nets owner at $6bn value.?
Members of the billionaire Koch family will buy a minority stake in BSE Global , the holding company which owns the Brooklyn Nets , New York Liberty and the Barclays Center ,?Bloomberg?reported.
Julia Koch and her three children have agreed to invest an undisclosed amount in the group. They will acquire a 15% holding in a deal valuing BSE Global at about $6bn.
Carlyle explores a $4bn sale of Cogentrix Energy.
The Carlyle Group is exploring a sale of power producer Cogentrix Energy, LLC, one of the largest owners of power plants in the US, as a wave of deals for utilities accelerates because of soaring energy demands from digital networks.
The private capital group has hired advisers to explore a sale that could value Cogentrix at as much as $3bn-$4bn, generating a large windfall for Carlyle's infrastructure arm. It was also selling other power assets owned by its infrastructure business in separate processes.
Investment bank Lazard and law firm Latham & Watkins had been hired to advise on the sale, FT reported.
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