Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week.
Americas
In the United States Goldman Sachs has raised $7 billion for its new private equity fund. This is the investment bank’s first buyout fund since the financial crisis in 2008. The new platform has already invested $2 billion including the acquisition of Dominion Web Solutions.
Elsewhere Hilton Worldwide Holdings, one of the largest and fastest growing hospitality companies in the world, announced the secondary offering of 15 million shares with a value of around $987 million. The shares are being offered by shareholders affiliated with the Blackstone Group.
In corporate finance, Yum! Brands has refinanced and repriced its existing term A and revolving loans by taking out $1 billion in a new senior secured revolving facility and a $500 million senior secured term loan.
Further North, in Canada, Maple Felix Energy Corporation has acquired Centrica’s Canadian oil and gas exploration and production business. Maple Felix is a consortium of two Hong Kong-based companies, MIE Holdings and Can-China Global Resource Fund, and Geneva-based Mercuria Energy Group.
In Mexico the State of Nuevo León has taken out further loans as part of its Mex$42.7 billion financial reorganisation. The latest Mex$4.3 billion financing facilities were taken out from Banco Multiva.
Asia-Pacific
In Malaysia Lotte Chemical Titan Holding has undertaken one of the biggest IPOs in Malaysia since Astro Malaysia Holdings’s $1.5 billion offering in 2012. The Malaysian branch of the South Korean company has planned a $1.4 billion debut offering on the Bursa Malaysia.
In India, following an earlier sale of 27 million shares in March, Kotak Bank has sold 62 million shares, via a qualified institutional placement (QIP), for Re56.6 billion. The placement is part of a stake reduction plan, initiated by Reserve Bank of India – whereby the chairman of Kotak Bank is to reduce his stake to 31.8% from 33.3%.
Elsewhere GDF International, part of the ENGIE Group, has sold its 10% equity stake in Petronet LNG, an Indian energy company, through a block trade, for $490 million. Petronet is India’s largest importer of LNG.
Europe, Middle East and Africa (EMEA)
In EMEA there was a notable IPO in Turkey this week. Mavi Giyim Sanayi ve Ticaret announced its IPO on the Borsa İstanbul in what was the largest Turkish offering since 2013. The issue consisted of approximately 27 million shares priced at TL43 per share giving the company a market capitalisation of more than TL2.13 billion. The company is a clothing manufacturer.
Several interesting acquisitions have taken place across Europe this week. In one, KKR Infrastructure, a branch of the global private equity firm, has acquired Q-Park for €2.95 billion in the Netherlands. Q-Park is a Dutch car park operator and KKR beat rival bids from the likes of Macquarie to seal the deal.
In the cosmetics sector, Brazilian company Natura has acquired The Body Shop for €1 billion from L’Oreal. The world’s largest cosmetics company has taken the decision to sell after operating profits from the UK retail chain fell 38% in 2016. Natura has stated that it hopes the deal will help it become an international player in the cosmetics market.
In Saudi Arabia the country’s General Authority of Civil Aviation (GACA) has signed contracts for the privatization of five of the country’s airports - King Abdulaziz International Airport (KAIA), Taif International Airport, Prince Nayef bin Abdulaziz Airport and Hail Airport, Hail Airport, Prince Abdulmohsin bin Abdulaziz Airport.
According to Construction Week, Singapore’s Changi Airports has signed a deal relating to King Abdulaziz International Airport; Consoldiated Contractors and Munich Airports has signed for Taif; Turkey’s TAV and Al Rajhi have inked deals for the other three.
The deals are part of a wider plan to privatise 11 international and domestic airports by 2020.