Deal Pipeline
Monday 01 August 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-AUSTRALIAN MINER AURUM NIXES DEAL TO BUY ISRAELI WIRELESS CHARGER MAKER
Australia-based gold and copper exploration company Aurum, Inc (OTCBB: AURM) has terminated a binding term sheet with the shareholders of Israel-based wireless charger maker Humavox Ltd, the company said.
According to the term sheet announced in June, Aurum was to acquire 100% of the shares of Humavox and 100% of the warrants and options to acquire shares of Humavox in exchange for the issue of shares of common stock of Aurum representing 50% of the shares of common stock of Aurum post issue on a fully-diluted basis, including the investment of an amount of USD 16m in Humavox.
Status: Terminated

-INTERNCONTINENTAL EXCHANGE TO SELL VOICE BROKERAGE OPERATIONS OF CREDITEX TO TULLETT PREBON
US-based exchange, clearing house and data services operator Intercontinental Exchange (NYSE: ICE) has entered into an agreement to sell certain US voice brokerage operations of interdealer broker Creditex to UK-based inter-dealer money broker Tullett Prebon (LSE: TLPR), the company said.
ICE will retain the electronically traded markets and systems, post-trade connectivity platforms and intellectual property of Creditex, which serves the global credit default swaps market.
Status: Agreed

-VICTORY CAPITAL CLOSES ACQUISITION OF RS INVESTMENTS FROM GUARDIAN LIFE
US-based asset manager Victory Capital has entered into a definitive purchase agreement to acquire RS Investments from The Guardian Life Insurance Co. of America and the investment professionals and employees of RS, the company said.
The acquisition expands Victory Capital's multi-boutique model to include 11 distinct investment franchises with USD 50.7bn in assets under management and advisement as of June 30, 2016.
Status: Closed

-WELLS FARGO CLOSES ACQUISITION OF GE CAPITAL'S COMMERCIAL DISTRIBUTION FINANCE BUSINESS IN AUSTRALIA, NEW ZEALAND
US-based financial services firm Wells Fargo and Co.(NYSE: WFC) has closed the purchase of the Australian and New Zealand segments of GE Capital's Commercial Distribution Finance (CDF) business, the company said.
As previously announced, Wells Fargo agreed to purchase GE Capital's CDF and Vendor Finance platforms as well as a portion of its Corporate Finance business. Wells Fargo completed the purchase of the North American businesses on March 1, 2016, and completed the Asia segment on July 1, 2016. The Europe, Middle East and Africa segment is expected to close later this year.
Status: Closed

-CHINA NEPSTAR WINS SHAREHOLDER NOD ON "GOING PRIVATE" MERGER
Shareholders of Chinese retail drugstore chain China Nepstar Chain Drugstore Ltd. (NYSE: NPD) voted on 29 July to approve the company's definitive agreement and plan of merger with China Neptunus Drugstore Holding Ltd. and Neptunus Global Ltd. the company said.
Under the deal, China Neptunus Drugstore will acquire China Nepstar for a cash consideration equal to USD 1.31 per ordinary share of the company or USD 2.62 per American depositary share of the company, on the basis that one American depositary share shall represent two shares, in a transaction implying company's enterprise value at approximately USD 258,655,491.4 m, based on the total shares issued and outstanding on a fully diluted basis.
Status: Agreed

-KEYCORP CLOSES USD 4.1BN ACQUISITION OF FIRST NIAGARA FINANCIAL GROUP
US-based financial services firms KeyCorp (NYSE: KEY) has closed its acquisition of US-based First Niagara Financial Group, Inc. (NASDAQ: FNFG), the company said.
Systems and client conversion is expected during 4Q16, subject to pending regulatory approval by the OCC for the merger of First Niagara Bank into KeyBank. Last November, KeyCorp and First Niagara Financial entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately USD 4.1bn.
Status: Closed

-HERENCIA RESOURCES CLOSES SALE OF 70% STAKE IN CHILEAN PAGUANTA PROJECT
Australian mining company Herencia Resources plc (AIM: HER) has closed the sale of the company's 70% equity in the Paguanta project, the company said. In May, Herencia executed a conditional term sheet with Australian mining firm Golden Rim Resources Ltd. for the sale of its 70% ownership in the Paguanta zinc, silver and lead project in northern Chile, the company said.
PRC holds 70% of Compania Minera Paguanta S.A. which, in turn, wholly owns the Paguanta Project. Under the deal, Herencia received onsideration of up to USD 2.3m in cash and GMR equity, with GMR agreeing to pay up to USD 2.1m towards various contingent liabilities.
Status: Closed

-CINEWORLD GROUP ACQUIRES FIVE UK CINEMAS FOR GBP 94M
UK-based cinema owner Cineworld Group plc (LSE: CINE) has acquired five cinemas from Empire Cinema Ltd holding company Cinema Holdings Ltd. and sold Empire the three screen Cineworld Haymarket, the group said.
Cineworld will pay Empire an aggregate consideration of GPB 94m (USD 123.92m) for the transaction.
 Status: Closed

-STELLAR DIAMONDS, DUBAI'S CITIGATE COMMODITIES FORM JV FOR LIBERIA, GUINEA
UK-based, West Africa focused diamond development company Stellar Diamonds plc (AIM: STEL) has signed binding heads of terms with Dubai based commodities group Citigate Commodities Trading to formulate joint ventures over the Baoulé kimberlite project in Guinea and over two new exploration licences in western Liberia, which have recently been awarded to Stellar, the company said.
According to Stellar, the Baoulé project has a resource target of approximately 3m carats. The proposed joint ventures remain conditional upon completion of due diligence by Citigate and the parties entering into definitive joint venture agreements for each project.
Status: Agreed

-SPECTRIS ACQUIRES GERMAN ACOUSTICAL, VIBRATION ANALYSIS SPECIALIST DISCOM
UK-based instrumentation and controls company Spectris plc (LSE: SXS) has completed the acquisition of the German acoustical and vibration quality analysis specialist Discom Elektronische Systeme und Komponenten GmbH, the company said.
The up-front purchase consideration of EUR 15.8m (USD 17.68m) will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments. In addition, contingent consideration may become payable to the sellers based on the achievement of certain milestones for a period of up to three years beginning 26 July 2016.
Status: Closed

-RED ROCK RESOURCES ACQUIRES FURTHER INTEREST IN GOLDSTONE RESOURCES
UK-based mining and exploration company Red Rock Resources plc (LSE: RRR) has agreed to acquire further 3,857,400 shares of Goldstone Resources Ltd (AIM: GRL) at a price of 2.5 pence per share, the company said.
The consideration for the acquisition is GBP 96,435 (USD 127,300) and is payable in cash subject to the approval of GRL shareholders to the necessary authorities at the annual general meeting of GRL to be held on 28 July 2016. At the close of business on 27 July 2016 the price of GRL shares was 2.75 pence and the market capitalisation of GRL was GBP 1.79m.
Status: Closed

-AIRCRAFT LESSOR AMEDEO AIR FOUR PLUS ACQUIRES 777-300ER
Guernsey-based aircraft leasing and sales company Amedeo Air Four Plus Ltd.(LSE: AA4) has purchased directly from US airframer The Boeing Co (USD: BA) one 777-300ER aircraft bearing manufacturer's serial number 42334 at a net cost to the company of USD 173m, the company said.
The company made the purchase via its wholly-owned subsidiary AA4P Eta Ltd. This aircraft is the seventh asset to be acquired by the company. Upon delivery of the aircraft, AA4PE also entered into an aircraft operating lease arrangement with Emirates Airline pursuant to which the Aircraft has been leased to Emirates for a term of 12 years, with fixed lease rentals for the duration.
Status: Closed

-MACH 1 COURIERS ACQUIRES UK-BASED DESTINATION COURIER SERVICES
UK-based express delivery company Mach 1 Couriers Ltd has acquired UK-based delivery company Destination Courier Services Ltd (trading as Destinations Green), the company said. Destinations Green, which was established in 1985 will be brought under the Mach 1 umbrella which already comprises of 19 courier businesses, including A to Z Couriers and Pink Express.
The firm has a fleet of 50 passenger cars and couriers and more than 600 corporate accounts ranging from well-known fashion brands to financial institutions.
Status: Closed

-EQT REAL ESTATE ACQUIRES PARIS OFFICE PROPERTY FOR EUR 51M
Sweden-based private equity group EQT has acquired a 30,000 square metre office investment, located on Avenue Dubonnet in Courbevoie, Paris, France for a purchase price of EUR 51m (USD 56.94m), the company said.
The acquisition comprises a two building office campus with a communal restaurant, substantial landscaped gardens and 740 parking spaces. EQT is a global private equity group headquartered in Stockholm, with approximately EUR 30bn in raised capital.
Status: Closed

-FFFC ACQUIRES ANNUITY MARKETING ORGANISATION M3 FINANCIAL
US-based independent insurance distribution company Futurity First Financial Corp. has acquired New York City-based annuity independent marketing organisation (IMO) M3 Financial, the company said.
The acquisition enhances FFFC's financial advisory/broker-dealer channel where fixed and fixed indexed annuities are increasingly being used as part of diversified retirement planning solutions. This acquisition is the second by FFFC this year and will broaden the market position of the FFFC group of companies as one of the largest distributors of fixed annuities and life insurance in the US.
Status: Closed

-MEGAPORT ACQUIRES GERMAN INTERNET EXCHANGE OPERATOR PEERING, BULGARIA-BASED OM-NIX
Australian interconnection services provider Megaport Ltd. (ASX: MP1) has agreed to acquire Berlin, Germany-based Internet Exchange operator Peering GmbH, which operates under the brand ECIX, the company said.
ECIX provides services to over 180 customers throughout its 30 points of presence within Germany. Megaport also announced the acquisition of Sofia, Bulgaria-based European network services provider OM-NIX. Combined, the acquisitions represent 48 European sites. Terms of the deals were not disclosed.
Status: Closed

-NEXTERA ENERGY TO ACQUIRE US ELECTRIC UTILITY ENERGY FUTURE IN USD 18.4BN DEAL
A newly formed subsidiary of US-based clean energy company NextEra Energy (NYSE: NEE) has agreed to acquire 100% of the equity of reorganized US-based electric utility Energy Future Holdings Corp. and certain of its direct and indirect subsidiaries for a total enterprise value of approximately USD 18.4bn, the company said
This deal includes EFH's approximately 80% indirect interest in US-based electric power transmission company Oncor Electric Delivery Company. The definitive agreement is part of an overall plan of reorganization that is designed to allow EFH to emerge from Chapter 11 bankruptcy.
Status: Agreed

-BEVOLUTION GROUP ACQUIRES US BEVERAGE MAKER DR. SMOOTHIE BRAND
US-based beverage solutions provider Bevolution Group, an affiliate of Dallas, Texas-based investment firm Highland Partners, LP, has acquired US-based beverage maker Dr. Smoothie Brands, the company said.
Dr. Smoothie's on-trend, authentic product portfolio enjoys strong brand equity, serving customers in the coffee house, health club and restaurant segments, among others. The company's line of premium smoothies and beverage powders complements Bevolution Group's selection of shelf-stable and frozen cocktail mixes, juice products, teas, lemonades, sports and energy drinks, slushies, enhanced waters, and thickened water.
Status: Closed

-ROCKBRIDGE ACQUIRES HILTON GARDEN INN IN DOWNTOWN NASHVILLE FOR USD 80M
Columbus, Ohio-based investment firm Rockbridge Capital has acquired Hilton Garden Inn in the SoBro district of Nashville, Tennessee from Franklin, Tennessee-based hotel management company Chartwell Hospitality for USD 80.3m, the company said.
The property is located on South Broadway in very close proximity to the Music City Center, Bridgestone Arena, Convention Center, and downtown entertainment district. With 214 guest rooms, the hotel features a rooftop outdoor pool with terrace, a full-service restaurant, the SoBro Sports Bar and Grill, a wine bar, and on-site parking garage.
Status: Closed

-KINGOLD JEWELRY SELLS STAKE IN SHANGHAI CREATIVE INDUSTRIAL PARK FOR USD 171M
China-based jewelry maker Kingold Jewelry, Inc.'s (NASDAQ: KGJI) Wuhan Kingold Jewelry Co Ltd. subsidiary has sold all of its interest in the Shanghai Creative Industry Park to Wuhan Lianfuda Investment Management Co., Ltd. for USD 171m (RMB 1.14bn), the company said.
In connection with the sale, Kingold leased space in the Jewelry Park for its new headquarters for an annual rent of RMB 1,718,400 (approximately USD 256,800). According to an evaluation report issued by an independent evaluation agency, the evaluated value of the Jewelry Park on June 18, 2016 was approximately USD 221m.
Status: Closed

-INCOMM ACQUIRES VALUACCESS' PREPAID DISTRIBUTION BUSINESS
US-based prepaid product and transaction services company InComm has acquired the Hong Kong prepaid distribution business of loyalty programmes provider ValuAccess, the company said.
Prior to the acquisition, InComm and ValuAccess achieved marked success in the Hong Kong market through a partnership formed in 2012 that combined InComm's global reach with ValuAccess's insight into the needs of the Hong Kong consumer and retail markets. The partnership offered local consumers a suite of products including prepaid cards, gift cards and other stored-value programmes while increasing sales and foot traffic at participating retailers.
Status: Closed

-NEXTERA ENERGY RESOURCES TO SELL PENNSYLVANIA GAS GENERATING ASSETS FOR USD 760M
US-based utility operator NextEra Energy, Inc.'s (NYSE: NEE) NextEra Energy Resources, LLC clean energy subsidiary has entered into an agreement to sell its ownership interest in its Marcus Hook generating assets to an investment affiliate of US-based investment firm Starwood Energy Group Global, LLC, the company said.
The total consideration to be paid is USD 760m, including estimated working capital at closing. Upon closing, NextEra Energy Resources expects the sale to result in net proceeds of approximately USD 255m after repayment of the existing project related financing. The impact of the disposition of assets at the time of closing will be excluded from adjusted earnings.
Status: Agreed

-VEOLIA CLOSES USD 325M ACQUISITION OF SULFUR PRODUCT DIVISION FROM CHEMOURS
French waste management and energy services company Veolia's (PAR: VIE) North America unit has closed an agreement to take over US-based chemical maker Chemours' (NYSE: CC) Sulfur Products division for USD 325m, the company said on Monday.
This division is a specialist in the recovery of sulfuric acid and gases of the refining process, which are regenerated into clean acid and steam used in wide range of industrial activities. As a tuck-in to Veolia North America's Industrial Business, Chemours Sulfur Products division is an excellent complement to Veolia's existing business, and will reinforce its existing recovery and regeneration capabilities and technologies.
Status: Closed

-ITALIAN PUBLISHING FIRMS GRUPPO ESPRESSO, ITEDI AGREE TO MERGE
Italian media conglomerate Gruppo Editoriale L'Espresso S.p.A. and Italian automaker Fiat Chrysler Automobile' Itedi S.p.A. publishing and communications subsidiary have signed a framework agreement, which sets out the terms of the proposed integration between the two companies, the principals said on Monday.
This move follows a memorandum of understanding dated March 2nd of this year. The agreement was also signed by CIR S.p.A., controlling shareholder of GELE, as well as Fiat Chrysler Automobiles N.V. and Ital Press Holding S.p.A., controlled by the Perrone family, the shareholders of Itedi.
Status: Agreed

-ARTHUR J GALLAGHER ACQUIRES UK EMPLOYEE BENEFITS CONSULTANT AND BROKER
US-based insurance brokerage and risk management services firm Arthur J. Gallagher and Co. (NYSE: AJG) has acquired Surrey, England-based Orb Financial Services Ltd., the company said on Monday.
Founded in 2007, Orb Financial Services is an employee benefits consultant and broker offering a full range of employee benefits insurance and consulting services to commercial clients throughout the United Kingdom.
Status: Closed

-ANSONIA CREDIT DATA TO ACQUIRE SOFTWARE DEVELOPER GALLIUM TECHNOLOGIES
US-based business credit reports provider Ansonia Credit Data has acquired US-based Gallium Technologies LLC, the company said.
Gallium Technologies is a software development company in the accounts receivable collections industry. Gallium's products integrate with customers' payables portals to automate the collections process, reduce time looking up past due invoices across multiple sites and turn past due AR into cash. Ansonia Credit Data is a credit reporting service.
Status: Agreed

-EQUILEND ACQUIRES AQS AND ITS SECURITIES LENDING TECHNOLOGY SYSTEMS
US-based trading and post-trade services provider EquiLend has acquired Automated Equity Finance Markets, Inc., commonly known as AQS, along with its securities lending technology systems from PDQ ATS operator PDQ Enterprises, the company said on Monday.
AQS will be rebranded to EquiLend Clearing Services. The acquired technology facilitates connectivity to OCC's Market Loan Program, whereby matched securities finance loans are seamlessly processed for central counterparty clearing through OCC, the world's largest equity derivatives clearing organization.
Status: Closed

-E-COMMERCE CHINA DANGDANG SCHEDULES SHAREHOLDER MEETING ON USD 556M "GOING PRIVATE" TRANSACTION
Shareholders of Chinese business-to-consumer e-commerce company E-Commerce China Dangdang Inc. (NYSE: DANG) will meet on 12 September to vote on the company's definitive agreement and plan of merger with Dangdang Holding Co Ltd. and its Dangdang Merger Co Ltd. subsidiary, the company said on Monday.
Under the deal, Dangdang Holding will acquire the company for cash consideration of USD 1.34per class A common share or class B common share of the company or USD 6.70 per American depositary share of the company, each ADS representing five class A Shares of the company, in a transaction valuing the company at approximately USD 556m on a fully diluted basis.
Status: Agreed

-EBIX UPS OFFER FOR INSURANCE TECHNOLOGY FIRM PATRIOT NATIONAL
US-based software and e-commerce services company Ebix, Inc. (NASDAQ: EBIX) has offered to buy industry outsourced services provider Patriot National, Inc. (NYSE: PN) for a total enterprise value of USD 475m, the company said on Monday.

This is an increase from the company's previous offer, under which Ebix would buy the company for USD 9.50 per share. A special committee of Patriot National's board expects that the new offer will yield a price per share that materially exceeds Ebix's initial offer, after payment of Patriot's related transaction expenses, all outstanding debt obligations, and certain accounts payable.
Status: Bidding

-VERIZON TO ACQUIRE FLEET MANAGEMENT SOFTWARE FIRM FLEETMATICS IN USD 2.4BN CASH DEAL
US-based broadband telecommunications company Verizon Communications Inc. (NYSE: VZ) and Irish fleet and mobile workforce management solutions firm Fleetmatics Group plc (NYSE: FLTX) have entered into a definitive agreement under which Verizon will acquire Fleetmatics for USD 60.00 per share in cash representing a value of approximately USD 2.4 bn.
In June, Verizon Telematics also announced the acquisition of Telogis, Inc., a global, cloud-based mobile enterprise management software company based in Aliso Viejo, Calif. 
Status: Agreed