Mergers acquisitions: a review of the week from 24 to 28 August

 

Last week was marked by low activity in the area of mergers and acquisitions on the part of players in the financial and banking sector. First of all, this trend is due to lack of funds for new acquisitions by financial companies. But in general we can say that the number of transactions MA in other industries remained stable.

pharmaceutical sector

On Monday, the American pharmaceutical company Warner Chilcott announced its plans to acquire the pharmaceutical business the world's largest manufacturer of consumer goods Procter Gamble . It is reported that the deal, which would cost $ 3.1 billion, will be financed through a number of banks, among which are JPMorgan and Bank of America. Among produced by Procter Gamble drugs sold by prescription, there are such well-known drugs like Actonel, used in the treatment of osteoporosis, and Enablex.

Airlines

At the end of the week, European antitrust authorities approved the transaction on acquisition of Austrian Airlines Austrian Airlines German Deutsche Lufthansa . In addition, the European Commission approved the restructuring program Austrian Airlines, which provides financial assistance to airlines from the Government of Austria in the amount of 500 million euros. It is reported that under the deal Lufthansa redeem the 41.56% stake in Austrian Airlines, owned by the government for a symbolic amount of 366 000 euros. In addition, the German airline offered to pay another 166 million euros for the shares of Austrian Airlines, are in free float. It is known that the German airline agreed to buy loss-making Austrian carrier, provided that the Austrian Government will provide it with financial assistance amounting to 500 million euros.

Consumer sector

On Monday, an American retailer of women's clothing Charlotte Russe Holding agreed to be absorbed by investment funds under management Advent International . It is reported that the total transaction value will be about $ 380 million According to the report of the Management Company, Advent plans to purchase shares of Charlotte Russe August 31.

financial sector

In the middle of the week's second-largest reinsurance company in the world Swiss Reinsurance sold its unit CyberComp , namely electronic system for
Management Staff compensation, the Swiss company AmTrust Financial Services . Terms of the deal have not been disclosed.

Oil & Gas, Energy

On Monday, Canadian Trust Daylight Resources , specializing in the production of natural gas, announced his intention to acquire the Canadian company nefterazvedyvatelnuyu Highpine Oil Gas for C $ 530 million ($ 492 million). It is expected that the transaction will increase the average volume of Daylight's oil production to 38 000 barrels per day.

Earlier this week, Britain's largest electricity supplier Centrica got the right to increase its stake inBritish company Venture Production , engaged in the exploration of oil and gas in the North Sea, to 50, 3%. So, after 5 months of struggle for the additional stake, Centrica has increased its stake in Venture still at 8,4%.

Telecommunications

On Thursday, India's largest wireless carrier Bharti Airtel offered to buy 49% stake in South Africa's largest cellular operator MTN Group for $ 13.1 billion Recall that after the company failed to reach agreement until 31 July, it was decided to extend the negotiations until the end of September.

steelmakers

China's largest steel producer Baosteel Group decided to buy 15% stake in Aquila Resources for A $ 286 million ($ 240 million). It is expected that after completion of the deal the Chinese company will help Aquila to obtain financing on good terms for a number of its projects. Companies have also indicated their intention to engage in joint search and development of new ore and coal deposits.

Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
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