Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week
Another month has passed and December is all that remains of 2017. That being said, the last week of November has been just as intense in the financial world as those that came before.
Americas
Starting this week with a merger in the food sector, Arby’s Restaurant has acquired Buffalo Wild Wings for $2.9 billion. Both companies look forward to strengthening their markets with the multi-brand restaurant chain they have developed.
Meanwhile, the Meredith Corporation acquired Time for $2.8 billion. Time is the publisher of People, Sports Illustrated and Fortune magazines. This was the second bid from Meredith and made headlines as it was backed by the billionaire Koch brothers.
Heading south, the Bank of Nova Scotia has made a $2.2 billion offer for a majority stake in the Chilean operations of Banco Bilbao Vizcaya Argentaria. This will make the bank the third largest privately-owned one in Chile.
Staying in the region, I Squared Capital has undertaken a $1.2 billion acquisition of IC Power's Latin American and Caribbean businesses from Kenon. Kenon’s shareholders will now have direct access to the business.
KKR has made a $4 billion bid for Hitachi Kokusai Electric – this is the private equity firm’s second acquisition offer and is 8% higher than the previous one. KKR is aiming to buy out Elliott Management’s share in the Japanese semiconductor equipment manufacturer.
Thoma Bravo, a private equity company, has acquired Barracuda Networks for $1.47 billion. Barracuda is a US-based operator of private data and will keep its focus on email security and data protection and privacy.
Asia-Pacific
In China, civil explosives manufacturer Anhui Leimingkehua has acquired coal mining company Huaikuang in a $3.1 billion deal. The deal aims to enforce state-owned enterprises into being more efficient.
Meanwhile, in Singapore, YTL PowerSeraya has secured a S$1.99 billion financing package. Proceeds will be used for the refinancing of YTL Power International.
Europe, Middle East and Africa (EMEA)
Moving to Europe, a cross-border deal between France and Germany took place this week, which saw Allianz is acquiring the remaining 25.7% stake in Euler Hermes in a €1.85 billion deal. The deal is logical in Allianz’s development in the core home markets in property as the company is in the process of strengthening its positions.
Staying in France, Danone has issued €1.29 billion in hybrid bonds. The notes carry a 1.75% coupon rate and have an indefinite duration. They will be listed on Euronext Paris.
In Spain, Cerberus has taken over 80% of BBVA’s real estate business for €4 billion. Following the 2008 collapse of the property bubble in Spain, the market is apparently attracting foreign investors back. This is the largest deal in the sector since Blackstone’s€30 billion acquisition of Santander’s property portfolio back in August.
Over in the UK, Sustainable Technology Investors and Nobel Sustainability Trust have established a £100 million investment fund: The Nobel Sustainability Growth Fund. It will mainly be making private equity investments in the UK regarding sustainable technologies and services.
Finally, In South Africa, Sasol has received $1.5 billion in refinancing for its existing credit facilities. The new facility is due 2022 and has a targeted facility size of $3 billion, though oversubscribed for $3.9 billion.