Data Analyst Katrin Kostadinova highlights the most significant financial and corporate legal deals announced or closed in the last week
Americas
It has been an intense week for M&A work especially in the Americas.
Starting in Canada – Innergex Renewable Energy has acquired Alterra Power for C$1.1 billion. The power producing company found a way to expand its services through this deal.
Moving on to the United States, Lennar took over the CalAtlantic Group in a $9.3 billion deal that included $3.6 billion of net debt in the overall price. The newly formed company will be the country’s largest homebuilder.
Corporate financial Duff & Phelps was acquired by Permira for $1.75 billion, though the target will continue leading the business.
For-profit education providers Strayer Education and Capella Education have announced a $1.9 billion merger, with Shareholders of Strayer taking a 52% share in the new company. Both institutions will continue operating separately but will gradually expand their level of efficiency, enabling more innovations and improvements.
Elsewhere, Texas-based Vistra Energy has acquired Dynegy for $1.7 billion. The newly merged entity will be valued at more than $20 billion and will serve approximately 2.9 million customers with its 40 gigawatts of generating capacity.
Europe, Middle East and Africa (EMEA)
An interesting merger between AkzoNobel and Axalta Coating Systems has taken place this week in a cross-border deal between the Netherlands and the US. The merger will not affect Akzo’s plans to sell its chemicals business. The merger will form a $30 billion company.
Emaar Development, in the UAE, has undertaken an IPO – the company is selling 20% of its real estate business through an 800 million-shares offer. There will be another 40 million shares held by the Emirates Investment Authority.
Swiss pharmaceutical giant Novartis has acquired Advanced Accelerator Applications for $3.9 billion in another cross-border deal, this time between France and the US. The newly acquired services will help Novartis develop a new cancer treating platform.
Finally, in Ghana the Port of Tema has continued its development project through a new $1.5 billion expansion plan. Meridian Port Services are granting a new 97.6-hectare port platform for the scheme.