Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week.
Americas
In Canada, The Bank of Nova Scotia, has issued $1.5 billion 2.15% and floating rate notes issue. The notes are due 2020.
In M&A, Dominion Diamond, a diamond mining company in Canada, has been acquired for $1.2 billion by the The Washington Companies. The acquirers are a group of mining, industrial and transportation businesses.
In The United States, H&E Equipment Services has acquired Neff for $1.2 billion. Neff Corporation is a construction equipment rental chain.
BGC Partners has agreed to acquire Berkeley Point Financial, a real estate finance company, for $875 million. After the acquisition the new business will become part of Newmark Knight Frank.
Finally Church & Dwight has acquired Water Pik from Mid Ocean Partners for $1 billion. The acquirer is a producer of personal care, household and specialty products and the target is a producer of water flosser replacement shower head brands.
Asia-Pacific
Some interesting deals have taken place in Singapore this week. Hillhouse Capital Management and Hopu Investment Management have formed a consortium called Nesta for the acquisition of Global Logistics Properties for S$16 billion. This is Asia’s biggest buyout in 2017 and the second largest logistics deal this year after China Investment Corporation’s acquisition of Logicor from the Blackstone Group.
Elsewhere SoftBank and Didi Chuxing have invested $2 billion in Grab, Southeast Asia’s Uber rival. The target is a taxi ordering services and operates across seven countries. SoftBank has also invested in 99, which is Brazil’s Uber rival. The funding will make Grab the most valuable Southeast Asia startup.
Europe, Middle East and Africa (EMEA)
In Austria Multi-Color has acquired Constantia Labels for €1.15 billion from Constantia Flexibles. The combined annual revenue of both companies aggregates to $1.6 billion. The merged business will further develop Constantia’s food and beverage business and Multi-Color’s wine and spirit and home and personal care platforms.
In Germany, in the real estate sector, Axel Springer has sold the buildings Axel-Springer-Neubau, currently being built in Berlin, and Axel-Springer-Passage for €755 million to Blackstone and QUINCAP.
In Italy Pimco, the world’s biggest bond manager, and Fortress, an investment manager, have acquired a €17.7 billion NPL portfolio from UniCredit. The deal is part of UniCredit’s attempt to clean up its balance sheet.
Elsewhere Credito Valtellinese has undertaken a securitisation of a €1.4 billion portfolio of NPLs. The company will issue €464 million in senior bonds, €42.5 million in mezzanine bonds and a junior tranche worth €20million.
In Poland, debt collection company GetBack has undertaken an IPO on the Warsaw Stock Exchange. The company offered 40 million shares at a price of €4.4 a share. The proceeds will be used to finance growth and acquisitions.
Finally in the UK, US sauce and spice manufacturer McCormick & Company has acquired the food business of Reckitt Benckiser for £3.2 billion. The deal includes brands such as French’s Mustard, Frank’s RedHot Sauce and Cattlemen’s BBQ Sauce.
Elsewhere Park24 has acquired a stake in National Car Parks from JLL. Park24 has assets in Japan, Australia, New Zealand, Malaysia, Indonesia and India.