MergerLinks Daily Review
MergerLinks
Join a community of 250,000+ M&A professionals. Expand your network and discover new business opportunities.
Welcome to MergerLinks Daily Review. Sign up here to get the full round up of your daily dose of blue-chip M&A news directly to your inbox.
Paramount replaces CEO with trio as it talks merger with Skydance. (People)
BBVA and Sabadell to explore possible merger.
You can access today’s complete newsletter here.
Scroll down for more…
SES Satellites , a satellite operator with a fleet of more than 50 geostationary satellites, agreed to acquire Intelsat , a company that operates a globalized network that delivers satellite broadband services, for €2.8bn ($3.1bn).
"Over the past two years, the Intelsat team has executed a remarkable strategic reset. We have reversed a 10-year negative trend to return to growth, established a new and game-changing technology roadmap, and focused on productivity and execution to deliver competitive capabilities. The team today is providing our customers with network performance at five 9s and is more dedicated than ever to customer engagement and delivering on our commitments. This strategic pivot sets the foundation for Intelsat's next chapter. By combining our financial strength and world-class team with that of SES, we create a more competitive, growth-oriented solutions provider in an industry going through disruptive change. The combined company will be positioned to meet customers' needs around the world and exceed their expectations," David Wajsgras, Intelsat CEO.
Intelsat is advised by PJT Partners , Elvinger Hoss Prussen , and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates . SES is advised by Guggenheim Partners , Morgan Stanley , Deutsche Bank , Arendt & Medernach , Freshfields , Gibson Dunn , and Hogan Lovells . Debt financing is provided by Morgan Stanley and Deutsche Bank .
CD&R -backed Motor Fuel Group , the UK's largest independent forecourt operator, completed the acquisition of 337 Morrisons petrol forecourts from Wm Morrison Supermarkets, the fifth largest supermarket chain in the United Kingdom, for £2.5bn ($2.5bn).
"As the needs of the customer continue to evolve, Morrisons and MFG's partnership will see us combine our respective expertise and resources to deliver the best value for customers at the pump, in our convenience stores and in our supermarkets. It means Morrisons customers will continue to see a competitive and attractive forecourt offering, including expanded access to EV charging, while also benefitting from greater focus on investment in Morrisons' core food business. We are delighted to have such a strong partner in MFG and look forward to the opportunities a combined MFG and Morrisons forecourt offering will provide," Rami Baitiéh, Morrisons CEO.
Clayton Dubilier was advised by Freshfields . Motor Fuel Group was advised by Citi and RBC Capital Markets . Morrisons was advised by Deloitte , HSBC , Rabobank , Eversheds Sutherland and Kirkland & Ellis .
Recommended by LinkedIn
Reinold Geiger offered to acquire the remaining 27.36% stake in L'Occitane International, a natural cosmetics and well-being products manufacturer and retailer, for €1.7bn ($1.8bn).
"Our family has always taken a responsible, long-term view when it comes to developing our company. The cosmetics sector is undergoing profound changes, and our company has significantly transformed into a geographically balanced multi-brand group, marked by strategic acquisitions such as ELEMIS, Sol de Janeiro, and, most recently, Dr. Vranjes Firenze. The transaction we are launching today will enable us to focus on rebuilding the foundation for the long-term sustainable growth of our company," Reinold Geiger, L'Occitane International Chairman and Director.
L'Occitane International is advised by Somerley . Reinold Geiger is advised by JPMorganChase , Crédit Agricole CIB , Corporate Finance International , Arendt & Medernach and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates . Debt financing is provided by Blackstone , Crédit Agricole CIB , and Goldman Sachs .
Paramount replaces CEO with trio as it talks merger with Skydance. (People)
Paramount Global replaced CEO Bob Bakish with a trio of executives, the company announced on April 29 in the middle of talks with David Ellison's Skydance Media about a possible merger, Reuters reported.
The owner of the Paramount+ streaming service, the Paramount Pictures movie studio and cable networks including MTV, BET and Showtime announced the change just ahead of reporting better-than-expected earnings for the quarter ended in March.
BBVA and Sabadell to explore possible merger.
Spanish lender BBVA and smaller rival Banco Sabadell said that they had started negotiations to explore a possible merger, triggering a rise of more than 7% in Sabadell's shares, Reuters reported.
BBVA said it had conveyed to the chair of the board of directors of Banco Sabadell the interest of BBVA's board of directors "in initiating negotiations to explore a potential merger transaction between the two entities".
Interested to find more? Sign up here to get full round up of your daily dose of blue-chip M&A news directly to your inbox.
You can access today’s complete newsletter here.