We have witnessed an active M&A and capital markets week in the Americas.
Starting off with a bond issue in the United States - Air Lease Corporation has issued $1.25 billion in 2.5% and 3.25% notes. Proceeds will be used for general corporate purposes that may include aircraft purchase and debt repayment.
Silver Lake and P2 Capital Partners have acquired Blackhawk for $3.5 billion. There is a $1.7 billion equity commitment also included in the deal. The target company runs a variety of services, such as gift cards and prepaid debit cards.
Italian confectionary maker Ferrero took over Nestlé’s US candy business in a $2.8 billion deal. The Nutella manufacturer will become the third largest chocolate company in the US and in the world. The deal is part of Nestlé’s path towards healthier products.
Energizer has acquired Spectrum Brands’ battery and lighting business for $2 billion. The deal will enable the company to have stronger pricing power and will also expand its international operations.
Energy Transfer Partners compression business was acquired by USA Compression Partners, a natural gas compression services provider, in a $1.8 billion deal. The deal will enable expanding of the access to all major basins across the United States.
Three interesting acquisitions took place in India this week.
IDFC Bank acquired Capital First for $1.5 billion. The deal will expand IDFC’s retail lending activities. IDFC is one of the two newest banks in the country.
Shares in HDFC were taken over by Silverview Investments in a Re16 billion deal. HDFC aims to hold its banking arm. Silverview is one of the 10 investors that are currently providing funds – others are Waverly, the OMERS Administration, Carmignac, the Azim Premji Trust and the PI Opportunity Fund.
Yara Fertilisers India acquired Tata Chemicals urea business for Re26.8 billion. Tata Chemicals will continue aiming in consumer products rather than fertilisers.
Moving to Europe, Carillion, the second-largest construction group in the UK, went into liquidation this weel. Pension funds will be managed by the Pension Protection Fund.
Informa agreed to acquire UBM for £4.3 billion, including debt. The deal makes Informa the world’s largest company in events and exhibitions.