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Carlyle explores a $4bn sale of Cogentrix Energy.
Vodafone plans to sell $2.3bn stake sale in Indus.
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Ardian , a private equity investment firm, and Public Investment Fund (PIF) , a sovereign wealth fund by the government of Saudi Arabia, revised their bid to acquire a 37.6% stake in Heathrow Airport from Ferrovial for £3.26bn ($4.17bn).
Ardian will acquire c. 22.6% while Saudi Arabia's Public Investment Fund will acquire c. 15%. In November, Ferrovial said it was planning to offload its stake, with Saudi Arabia's Public Investment Fund taking 10% and the other 15% going to French private equity group Ardian.
PIF is advised by Barclays and Latham & Watkins . Ardian is advised by Bank of America , RBC Capital Markets , Santander , Clifford Chance , 5654 & Company , Brunswick Group and Kekst CNC . Ferrovial is advised by J.P. Morgan and Allen & Overy .
Clayton, Dubilier & Rice -backed Resideo Technologies, a manufacturer and distributor of technology-driven products and solutions, completed the acquisition of Snap One , a provider of smart-living products, services, and software to professional integrators, from Hellman & Friedman , an American private equity firm, for $1.4bn.
"We are pleased to complete this transaction and excited to officially welcome the Snap One team to Resideo. This is an important step in our ongoing transformation across Resideo as we focus on accelerating profitable growth. The combination better positions the business in attractive growth categories, adds new higher-margin proprietary products and services, and broadens ADI's customer base. Resideo's future is bright as we work to simplify the connected world, creating value for our customers and shareholders," Jay Geldmacher , Resideo President and CEO.
Snap One was advised by J.P. Morgan , Moelis & Company , Simpson Thacher & Bartlett LLP and H/Advisors Abernathy . Financial advisors were advised by Cravath, Swaine & Moore LLP (led by Matthew Jones and George Schoen ). Resideo Technologies was advised by Evercore , Raymond James and Willkie Farr & Gallagher LLP (led by Jared Fertman , Tej Prakash , Russell Leaf and Sean Ewen). Debt financing was provided by Bank of America and Morgan Stanley .
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Kirin, a Japanese beer and beverage holding company, offered to acquire the remaining 77% stake in FANCL , a cosmetics and dietary supplements company, for $1.4bn.
With FANCL as a wholly-owned subsidiary, Kirin will accelerate the creation of a competitive business model by mutually complementing each company's unique strengths through the mutual utilization of management resources and the promotion of integrated management. By commercializing ingredients created through the natural technology of fermentation, leveraging customer understanding gained from Kirin's and FANCL's strong relationships with consumers, and delivering them to consumers through multiple channels in the Asia-Pacific region, the Kirin Group will contribute to solving consumers' health issues in both the cosmetics and health food businesses and further enhance its presence in the global market in addition to Japan.
Kirin is advised by Nomura .
Carlyle explores a $4bn sale of Cogentrix Energy.
The Carlyle Group is exploring a sale of power producer Cogentrix Energy, LLC , one of the largest owners of power plants in the US, as a wave of deals for utilities accelerates because of soaring energy demands from digital networks.
The private capital group has hired advisers to explore a sale that could value Cogentrix at as much as $3bn-$4bn, generating a large windfall for Carlyle's infrastructure arm. It was also selling other power assets owned by its infrastructure business in separate processes.
Investment bank Lazard and law firm Latham & Watkins had been hired to advise on the sale, FT reported.
Vodafone plans to sell $2.3bn stake sale in Indus.
Vodafone Group is seeking to sell its entire $2.3bn stake in India's Indus Towers Limited through block deals next week.
Vodafone owns about 21.5% of the Indian tower company and may sell less than the entire stake if there is insufficient demand. Vodafone's Chief Executive Officer Margherita Della Valle , who took the reigns last year, has sold off underperforming markets and worked to scale back a sprawling empire that at one point stretched from the US to Africa.
The final size of the stake sale is yet to be decided and could be lower than 21.5% if demand, which is still being assessed, is insufficient.
Vodafone plans to sell the stake via block deals in Indian stock markets next week and has hired Bank of America , Morgan Stanley and BNP Paribas to manage the deal.
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