Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week.
Americas
Starting with the automotive sector in the US, General Motors Financial Company has issued $2.25 billion 3.15%, 4.35% and floating rate senior notes. The issuance comes a year after the company’s previous $1.75 billion issue.
In the pharmaceutical sector – Fresenius Kabi will acquire Akorn for $4.3 billion – the deal will strengthen the acquirer’s core business and widen its portfolio. Akorn’s largest shareholder, with 25%, has already confirmed its support.
Red Ventures has announced its acquisition of Bankrate for $1.4 billion or $14 per share. Red Ventures is a digital marketing company. Bankrate is a financial information provider and personal finance comparison company.
Moving to Canada, Canada Pension Plan Investment Board (CPPIB) has acquired Parkway, an US real estate investment trust, for $1.2 billion. The acquisition is part of CPPIB’s long-term real estate strategy to hold stable and high-quality assets in the US.
Asia-Pacific
In India Ultratech Cement has acquired Jaypee Cement for Re162 billion. The deal includes six integrated cements plants and five grinding units.
In Singapore, NetLink NBN Trust, the broadband unit of Singapore Telecommunications (Singtel), has undertaken an IPO on the Singapore Stock Exchange. The company offered 2.9 billion shares and is set to raise S$2.35 billion.
Europe, Middle East and Africa (EMEA)
Croatia has placed issued $459 million in 3.3% bonds due July 7 2032. The notes are issued on the domestic market.
In France, Danone has sold Stonyfield, a US dairy business, to Lactalis for $875 million. Danone shares rose 1.3% following the announcement. The acquisition is part of an agreement with the US authorities to facilitate WhiteWave’s takeover. The deal is expected to be completed in the third quarter.
Elsewhere the German-based rail logistics company, VTG, has acquired French competitor CIT Rail for €780 million – the main assets being the 14,000 freight wagons owned by CIT’s subsidiary Nacco.
In Greece Attica Bank has securitised a €1.3 billion real estate portfolio. Artemis Securitisation then issued a series of senior notes series valued at €525 million and a series of junior notes valued at €806.2 million.
In Israel Tamar Petroleum has undertaken a Tel Aviv Stock Exchange IPO and a $650 million 4.7% issue. The company is expected to raise $1.1 billion in what will be one of the biggest IPOs in Israel this year. All proceeds will be used to finance Tamar Petroleum’s acquisition of a 9.25% stake in Delek Drilling. Delek is an Israeli energy company, which owns a 31.25% stake in an offshore natural gas field, Tamar. The deal has come about due to legislation introduced by the government in 2015 encouraging competition in the gas sector - hence Delek is required to sell its entire gas field stake.
In the United Kingdom Vantiv acquired payment processing company WorldPay for £9 billion. Shortly after the merger, all shares from WorldPlay are to be delisted from LSE, but the newly formed company will keep its place on the NYSE.