Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week.
Americas
In Canada, Stryker, one of the world’s leading medical technology companies, has acquired NOVADAQ Technologies for $701 million. NOVADAQ is a producer of fluorescence imaging solutions for medical procedures.
Peru’s largest state-owned company, Petróleos del Perú has issued $2 billion in senior bonds. $1 billion are due 2032 and the other half is due 2047 – the bonds will be used for financing the Talara oil refinery modernisation project.
In the United States – Apple has made its fifth debt offering of 2017 in the form of $1 billion in green bonds – the company’s second green bond issue in the last year, becoming in the process the largest non-financial issuer of dollar denominated green bonds.
Staying in the debt capital markets Ford Motor Credit Company has issued $1 billion of senior notes due 2020 - $350 million were floating rate and $650 million consisted of 2.425% notes. The proceeds will be used for general corporate purposes.
George Clooney’s high-end tequila brand Casamigos has been acquired by Diageo for $1 billion. The actor founded the brand in 2013 along with Rande Gerber and Mike Meldman.
In the natural gas sector EQT has acquired Rice Energy for $6.7 billion – a transaction that combines two of the top Marcellus and Utica producers. EQT has claimed this to be their last deal for the near future, as the company wants to integrate all of its businesses.
Elsewhere Occidental Petroleum has acquired the enhanced oil recovery (EOR) assets of Hess in the Permian basin for $600 million. EOR is the process of recycling carbon dioxide from oil extraction and pumping it back underground to increase the pressure and make oil more easily extractable.
In the pharmaceutical sector Pamplona Capital has acquired Paraxel for $4.5 billion. Pamplona Capital has been searching for a contract research organisation following an unsuccessful bid for Pharmaceutical Product Development a few months ago.
Asia-Pacific
In Hong Kong Guangzhou Rural Commercial Bank has undertaken one of the biggest listings on the HKSE this year - a $1.07 billion IPO. The bank has offered 1.58 billion shares. The bank, owned by the Chinese state, is attempting to boost its balance sheet ahead of an expected economic recovery in China.
Europe, Middle East and Africa (EMEA)
In Germany, Delivery Hero has undertaken an IPO on the Frankfurt Stock Exchange. With a price set at €22-25.5 per share this may be one of the biggest offerings in Germany this year.
On the debt side of the capital markets Volkswagen has issued a €3.5 billion two tranche hybrid bond – with €1.5 billion due 2022 and €2 billion due 2027. The notes are issued on the Luxembourg Stock Exchange.
In M&A, PerkinElmer, a US technology company, has acquired Euroimmun for $1.3 billion. The deal sees the US company expand its autoimmune and allergy diagnostic capabilities.
Moving to the United Kingdom, there have been two major financial investments this week. Allianz Global Investor together with the Pension Protection Fund have invested £500million in M6 Toll Road, which was recently acquired by IFM Investors, while China’s JD.com has invested $397 million into Farfetch, a UK fashion retailer, with the aim of expanding its luxury offering.
In the real estate sector, another Chinese company, Wanda Commercial Properties, has acquired Nine Elms Square for £470 million – the 10-acre property is home of the New Covent Garden flower market. The deal is a latest in a string of London commercial real estate deals completed in the past few months.
Finally Blackstone has also agreed to acquire a majority stake in flexible work space provider The Office Group in a deal valued at £500 million. The target has 36 buildings across central London with more than 15,000 clients.