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Apple and Meta have discussed AI partnership.
Shein confidentially filed papers for a potential London IPO.
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TPG , an American private equity firm, and Caisse de dépôt et placement du Québec (CDPQ) , an institutional investor, agreed to acquire Aareon Group , an IT service management company, from Aareal Bank AG , an international property specialist, and Advent International , one of the largest and most experienced global private equity investors, for €3.9bn ($4.2bn).
"This transaction marks a milestone in the development of Aareon. Thanks to the strong support of our owners Aareal Bank and Advent International, the company has made excellent progress in recent years. Now, we have reached a point where we can take the next step in our development. We are in an ideal position to capture further growth opportunities and welcome TPG and CDPQ as experienced and strong new partners," Harry Thomsen, Aareon CEO.
TPG is advised by Morgan Stanley , Kirkland & Ellis (led by Adrian Maguire and Vincent Bergin ), Greenbrook (led by James Madsen ). Aareal Bank and Advent International are advised by Arma Partners , Goldman Sachs , CMS , Weil, Gotshal & Manges LLP and FGS Global (led by Olaf Zapke ).
Sonoco Products Company, a provider of high-value sustainable packaging, agreed to acquire Eviosys , a global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging, from KPS Capital Partners , a private equity firm, for $3.9bn.
"Eviosys is another demonstration of KPS' investment strategy of seeing value where others do not, buying right and making businesses better, across economic cycles, geographies and industries over decades," Michael Psaros , KPS Co-Founder and Co-Managing Partner.
Sonoco Products Company is advised by Rothschild & Co and Paul, Weiss, Rifkind, Wharton & Garrison LLP . KPS and Eviosys are advised by J.P. Morgan , Morgan Stanley , Freshfields Bruckhaus Deringer and FGS Global .
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RXO, Inc. , a provider of full truckload freight transportation brokering services, agreed to acquire Coyote Logistics , a global 3PL firm, from UPS , an American multinational shipping & receiving and supply chain management company, for $1bn.
“As UPS positions itself to become the premium small package provider and logistics partner in the world, the decision to sell our Coyote Logistics business allows an even greater focus on our core business,” Carol B. Tomé, UPS CEO.
RXO is advised by Goldman Sachs and Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Steven Williams and David Huntington ). UPS is advised by J.P. Morgan and King & Spalding .
Apple and Meta have discussed AI partnership.
Facebook parent Meta Platforms has discussed integrating its generative AI model into Apple 's recently announced AI system for iPhones, WSJ reported.
The move comes as Apple plans to add technology from other AI companies on its devices amid reports that it was discussing a potential tie-up with long-time search partner Alphabet Inc. 's Google .
The iPhone maker is also expected to discuss partnerships with other AI companies in different regions like China, where Microsoft-backed OpenAI chatbot ChatGPT is banned.
Shein confidentially filed papers for a potential London IPO.
Online fashion retailer SHEIN confidentially filed papers with the UK authorities for a potential listing in London, Bloomberg reported.
The timing of an initial public offering, which would likely be London's biggest in more than a decade, wasn't immediately clear as Shein is still awaiting approval from the Chinese securities regulator. An IPO could value the fast fashion giant at about £50bn ($63.3bn).
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