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.
Saudi fund said to eye Boeing and Airbus jets for new cargo airline. (FS)
PwC loses big client Bank of China amid regulatory probe.
You can access today’s complete newsletter here.
Scroll down for more…
Hellman & Friedman -backed AutoScout24 , an online automotive marketplace, agreed to acquire TRADER, a technology company based in Toronto specializing in classified automotive advertising, from Thoma Bravo, a private equity and growth capital firm. Financial terms were not disclosed.
"I am delighted to welcome the TRADER Canada team and its leading brands to the AutoScout24 family. TRADER Canada's impressive long-term track record, clear position as Canada's most important automotive marketplace, and comprehensive expertise in dealer software and fintech solutions speak for themselves. This acquisition strengthens AutoScout24's position as a leading global online automotive marketplace and will help accelerate the growth of both platforms. As a result, we will offer our customers, trade partners, OEMs, and financing partners in Europe and Canada better services and more innovative solutions," Peter Brooks-Johnson, AutoScout24 CEO.
TRADER is advised by Bank of America , Goldman Sachs , HSBC , Goodmans LLP , Kirkland & Ellis (led by Brad Reed , Cole Parker and Angela C. Oldham ), McMillan LLP and Labour Creative. AutoScout24 is advised by Deutsche Bank , RBC Capital Markets , Davies Ward Phillips & Vineberg LLP , Freshfields and Simpson Thacher & Bartlett LLP (led by Anthony Vernace ).
Quantum Capital , a private equity company, agreed to acquire oil and gas operations from Oaktree Capital Management, L.P. -backed Caerus Oil and Gas LLC , a company that invest in conventional oil and gas properties, for $1.8bn.
“As an active private energy investor, we recognize the important role of expanding access to clean and reliable energy in key markets across the United States. This transaction represents a unique opportunity for Quantum to invest in substantial natural gas production alongside large, contiguous acreage positions containing sizable hydrocarbon resources with significant value creation potential. We believe that KODA and QB Energy are well positioned to steward the next phase of development and operation of the Assets to serve responsibly natural gas demand centers in the western US while generating attractive returns for our investors," Tom Field, Quantum Partner.
Recommended by LinkedIn
Quantum is advised by Vinson & Elkins and Joele Frank (led by Kate Thompson). Caerus is advised by Bank of America , Evercore , Jefferies , Davis Graham & Stubbs LLP and Latham & Watkins .
Johnson & Johnson , an American multinational pharmaceutical, biotechnology, and medical technologies corporation, agreed to acquire V-Wave , a privately-held company focused on developing innovative treatment options for patients with heart failure, for $1.7bn.
“At V-Wave, we are dedicated to achieving our vision to help patients around the world – and we know Johnson & Johnson MedTech shares this mission. We are confident that Johnson & Johnson MedTech is well-positioned to ensure V-Wave’s breakthrough ideas and technology reach patients in need as quickly and effectively as possible. I couldn’t be prouder of the V-Wave team, and the commitment it has taken to achieve this milestone. We look forward to continuing to build a world where cardiovascular disease is prevented, treated, and cured,” Dr. Neal Eigler, V-Wave CEO.
Saudi fund said to eye Boeing and Airbus jets for new cargo airline. (FS)
Saudi Arabia’s sovereign wealth fund is in exploratory talks to line up Boeing and Airbus freighters for a new cargo airline, as it looks to turn the kingdom into a logistics hub to rival Dubai and Doha, Bloomberg reported.
The cargo-hauling operation would serve flag-carrier Saudia and startup Riyadh Air | طيران الرياض . The Public Investment Fund is in discussions with both planemakers and lessors to acquire Boeing 777 and Airbus A350 freighters.
PwC loses big client Bank of China amid regulatory probe.
Auditor PwC has lost its largest mainland China-listed client, Bank of China , to rival EY , adding to an exodus of clientele amid a regulatory investigation into its work on troubled property developer China Evergrande Group, DealStreetAsia reported.
State-owned Bank of China had as recently as March stated plans to reappoint PwC as its auditor for 2024 but in a filing late on August 19 said it plans to appoint EY. The decision will be submitted for shareholder approval.
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.