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Deal Pipeline
Monday 20 June 2016
The following is a list of deals covered in detail by M and A Navigator this week:
-UK EVENTS FIRM UBM CLOSES USD 841M SALE OF PR NEWSWIRE TO CISION
UK-based B2B events organizer UBM plc has closed the sale of press release distributor PR Newswire to media intelligence company Cision for USD 841m, UBM said.
The compensation is comprised of USD 810m in cash and USD 31m of preferred equity. PRN is in public relations and investor relations communications and related services, connecting over 30,000 customers to their target audiences through its distribution network.
Status: Closed
-ALBEMARLE TO SELL CHEMETALL SURFACE TREATMENT BUSINESS FOR USD 3.2BN
US-based specialty chemicals company Albemarle Corp. (NYSE: ALB) has signed a definitive agreement to sell its Chemetall Surface Treatment business to German chemical maker BASF in a cash transaction valued at approximately USD 3.2bn, the company said.
This represents an LTM EBITDA multiple of 15.3x as of 31 March 2016. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year end.
Status: Agreed
-GARNERO TO ADJOURN SHAREHOLDER MEETING FOR THIRD TIME
US-based investment vehicle Garnero Group Acquisition Co. (NASDAQ: GGAC) has adjourned an extraordinary general meeting of its shareholders scheduled for 22 June 2016 until 19 July 2016, the company said.
This will be the third adjournment of the extraordinary general meeting. The extraordinary general meeting was originally scheduled for 25 April 2016 and was previously adjourned until 23 May 2016, then again until 22 June. The purpose of the extraordinary general meeting is to consider the proposed business combination with Brazilian apparel retailer Q1 Comercial de Roupas S.A. (Grupo Colombo, or GC) and certain related proposals.
Status: Agreed
-BULLSNBEARS OWNER INKS DEFINITIVE MERGER AGREEMENT WITH MICHAEL JAMES ENTERPRISES
US-based Michael James Enterprises, Inc. (OTCQB: MJTV), f/k/a Bullsnbears.com, Inc. has inked a final definitive merger agreement with Michael James Enterprises, Inc (MJE) a Nevada corporation, the company said.
In anticipation of this merger being completed, Bullsnbears.com, Inc. changed the corporate name to Michael James Enterprises, Inc., with new trading symbol of MJTV, before the end of 2015 to properly reflect the new direction of the company.
Status: Agreed
-HCP FILES FORM 10 IN US FOR PLANNED SPINOFF OF HCR MANORCARE NURSING, ASSISTED LIVING PORTFOLIO
US-based Michael James Enterprises, Inc. (OTCQB: MJTV), f/k/a Bullsnbears.com, Inc. has inked a final definitive merger agreement with Michael James Enterprises, Inc (MJE) a Nevada corporation, the company said.
In anticipation of this merger being completed, Bullsnbears.com, Inc. changed the corporate name to Michael James Enterprises, Inc., with new trading symbol of MJTV, before the end of 2015 to properly reflect the new direction of the company.
Status: Agreed
-ENERGY FUELS CLOSES ACQUISITION OF US URANIUM PRODUCER MASTENA
US-based uranium producer Energy Fuels Inc. (NYSE MKT: UUUU) (TSX: EFR) has closed the acquisition of US-based uranium producer Mesteña Uranium, LLC, in exchange for stock, the company said.
Under the deal, which was announded in March, Energy Fuels issued 4,551,284 common shares of the company to the current owners of Mesteña. Mestena operates the Alta Mesa ISR Project located in Brooks and Jim Hogg Counties, Texas.
Status: Closed
-BNC BANCORP CLOSES 95.5M ACQUISITION OF SOUTHCOAST FINANCIAL
US-based bank holding companies BNC Bancorp (NASDAQ: BNCN) and Southcoast Financial Corp. (NASDAQ: SOCB) have closed agreement under which BNC acquired all of the common stock of Southcoast in a stock transaction valued at approximately USD 95.5m, based on the closing price of BNC common stock on 13 August 2015, the company said.
BNC previously announced its plans to acquire Southcoast and Southcoast Bank on 14 August 2015.
Status: Closed
-PRESTON TO ACQUIRE GOLD PRODUCTION ROYALTY FROM ARIZONA MINE
US-based mining royalty financing company Preston Corp (OTC: PSNP) has signed an agreement to acquire a gold production royalty from an Arizona mine through its exclusive agent Western Mine Development LLC, the company said.
Preston said that the project is an alluvial placer mine that has just received an approved mining permit from the regulatory agency allowing for the commencement of commercial gold production, which when fully implemented is forecast to generate USD 28.8m a year EBITDA at a conservative pricing of USD 1,250 per ounce gold.
Status: Agreed
-EUROPEAN COMMISSION CLEARS PACKAGING FIRM BALL TO ACQUIRE REXAM
The European Commission has formally approved US-based packaging company Ball Corp.'s (NYSE: BLL) proposed acquisition of UK-based Rexam plc and thereby granted final regulatory clearance in Europe for Ball's offer for Rexam, the company said.
The EC has also formally approved Ardagh Group's proposed acquisition of certain Ball and Rexam businesses. Ball received final unconditional regulatory clearance in Brazil on June 8 and is working to obtain the remaining US regulatory clearance soon, enabling the proposed acquisition of Rexam to close.
Status: Agreed
-HGH INFRARED SYSTEMS ACQUIRES ASSETS OF ELECTRO OPTICAL INDUSTRIES
US-based financial advisor Alderman and Co. has completed its engagement as the exclusive M/A advisor to private equity firm Blue Wolf Capital in regard to its disposition of test and calibration equipment provider Electro Optical Industries, LLC, the firm said.
Alderman arranged a transaction for Blue Wolf whereby the assets of EOI have been acquired by HGH Infrared Systems, Inc. Blue Wolf Capital Partners LLC is a private equity firm founded in 2005. The firm specialises in control investments in middle market companies.
Status: Closed
-SHAREHOLDERS OF CANADIAN MINERS NEVSUN RESOURCES, RESERVOIR MINERALS APPROVE MERGER
US-based financial advisor Alderman and Co. has completed its engagement as the exclusive M/A advisor to private equity firm Blue Wolf Capital in regard to its disposition of test and calibration equipment provider Electro Optical Industries, LLC, the firm said.
Alderman arranged a transaction for Blue Wolf whereby the assets of EOI have been acquired by HGH Infrared Systems, Inc. Blue Wolf Capital Partners LLC is a private equity firm founded in 2005. The firm specialises in control investments in middle market companies.
Status: Agreed
-OIL AND GAS SERVICES FIRM WOOD GROUP ACQUIRES MANUFACTURING BUSINESS FROM ENTERPRISE ENGINEERING
UK-based oil and gas services company Wood Group plc has acquired the trade and assets of Enterprise Engineering Service Ltd.'s Aberdeen based fabrication and manufacturing business, the company said.
Wood Group said the acquisition further enhances its asset integrity management capabilities, adding fabrication to its services, which focus on driving efficiencies and extending the life of upstream and midstream assets in the UK oil and gas sector.
Status: Closed
-ORIGIN ENERGY SELLS AUSTRALIAN WIND FARM FOR AUD 72M
Australian integrated energy company Origin Energy Ltd. (ASX: ORG) has entered into a share sale agreement with Duet Group's Energy Developments Pty Ltd. subsidiary for the sale of Cullerin Range Wind Farm Pty Ltd for a cash consideration of AUD 72m (USD 53.81m), the company said.
Cullerin Range Wind Farm is a 30mw generator supplying electricity into the New South Wales market. Under the terms of the transaction, Origin has entered into a long-term offtake agreement with Cullerin Range Wind Farm Pty Ltd.
Status: Agreed
-COAL OF AFRICA AGAIN EXTENDS OFFER PERIOD FOR UNIVERSAL ACQUISITION
Australian coal company Coal of Africa Ltd. (ASX: CZA) (AIM: CZA) has again extended the effective date of the closing of its acquisition of UK coal producer Universal Coal Plc (ASX: UNV), this time to 15 July 2016, the company said.
It had been set to close on 24 June. As announced on 31 May 2016, CoAL has entered into two subscription agreements with Hengshun Zhongsheng Group Co., Ltd and Summer Trees PTE. Ltd pursuant to which the New Subscribers will subscribe for 229,885,058 and 114,942,529 CoAL Shares respectively at a price of AUD 0.0435 per CoAL Share, for total proceeds of AUD 15m.
Status: Agreed
-PPHE HOTEL GROUP TO SELL CROATIAN OPERATING COMPANIES
Guernsey-based hotel operator PPHE Hotel Group Ltd. (LSE: PPH) has entered into an agreement to sell its wholly owned Croatian operating companies to Arenaturist d.d. for HRK 108.55m (USD 16.36m) to be received in cash at completion, the group said.
Completion of the disposal is expected to take place by 30 June 2016 subject only to the parties having performed in all material respects their respective obligations in connection with the disposal, as at that date.
Status: Agreed
-UK RETAILER TESCO TO SELL DOBBIES GARDEN CENTRES FOR GBP 217M IN CASH
UK-based grocery and general merchansise retailer Tesco (LSE: TSCO) has agreed to sell its Dobbies Garden Centres business to an investor group led by Midlothian Capital Partners and Hattington Capital, the company said.
The sale represents the entire share capital of Dobbies Garden Centres Ltd. Tesco will receive GBP 217m in cash, which will be used for general corporate purposes.
Status: Agreed
-FINNISH RENTAL HOUSING FIRM SATO CLOSES ACQUISITION OF SVK YHTYMA
Finland-based rental housing company Sato Corp. has closed the acquisition of all the shares in SVK Yhtymä Oy, the company said. This deal was announced in April. The transaction was completed by a directed share issue approved by Sato's board of directors. Shareholders of SVK Yhtymä subscribed for a total of 728,763 shares in Sato.
As a result of the transaction, 1,255 modern rental apartments were transferred to Sato. The directed issue was carried out based on the authorisation granted to the board of directors by the annual general meeting on 3 March 2016.
Status: Closed
-ELY ACQUISITION TO BUY UK-BASED WATER MANAGEMENT SPECIALIST HYDRO FOR GBP 28M
UK-based investment vehicle Ely Acquisition Ltd. (Hanover Bidco) has agreed to acquire the entire issued and to be issued share capital of UK-based water management solutions company Hydro International plc not already owned by Hanover Bidco or the Hanover Bidco Group, Ely said.
Ely Acquisition is an investment vehicle ultimately owned by the Hanover Active Equity Fund LP. The boards of Hanover Bidco and Hydro have agreed on the deal. Hanover Bidco is a wholly owned indirect subsidiary of the Hanover Active Equity Fund LP.
Status: Agreed
-ROSNEFT, BP INK FINAL DEAL TO CREATE SIBERIA JV
British oil and gas major BP (NYSE: BP) (LSE: BP) and Russia's Rosneft (MCX: ROSN) have signed final binding agreements to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation, the companies said.
The joint venture will focus on onshore exploration of two Areas of Mutual Interest in the West Siberian and Yenisey-Khatanga basins covering a combined area of about 260,000 square kilometers. Yermak Neftegaz will be owned 51% by Rosneft and 49% by BP.
Status: Agreed
-ROSNEFT TO SELL STAKE IN VANKOR PROJECT TO INDIAN CONSORTIUM
Russian oil company Rosneft (MCX: ROSN) and a consortium of Indian companies led by Oil India Ltd. along with Indian Oil Corp. Ltd. and Bharat PetroResources Ltd. have signed the agreement of sale and purchase of 23.9% in Vankorneft, the company said.
Vankorneft, a Rosneft subsidiary, was established in 2004 for development of Vankor oil and gas condensate field - the largest of the fields, discovered and put into operation in Russia in the last 25 years.
Status: Agreed
-INTU PROPERTIES BUYS REMAINING 50% STAKE IN MERRY HILL ESTATE FOR GBP 410M
UK-based shopping centre operator intu properties plc (LSE: INTU) has exchanged contracts with the Queensland Investment Corp. to acquire the remaining 50% of the Merry Hill estate for GBP 410m (USD 602.33m) before expenses.
This represents an income yield of 5.2% based on net rental income of GBP 43m. The estate comprises the intu Merry Hill shopping centre, two retail parks, office and leisure uses along with development land.
Status: Agreed
-CHINA'S NATIONAL SILICON INDUSTRY TO OFFER DKK 335M FOR DENMARK'S TOPSIL
China-based technology group National Silicon Industry Group plans to submit a voluntary public offer to the shareholders and warrant holders of Danish silicon substrate supplier Topsil Semiconductor Materials A/S to acquire all of the shares and warrants in the company at a cash price of DKK 0.352 per share and a price per warrant of DKK 0.352 less the strike price of the warrant, the company said.
Status: Agreed
-ILLINOIS-BASED TOWN AND COUNTRY BANK BUYS CENTRUE BANK BRANCH
Illinois, US-based bank holding company Town and Country Financial Corp.'s (OTC: TWCF) Town and Country Bank subsidiary has completed its acquisition of a Centrue Bank branch in Fairview Heights, Illinois, the company said.
Town and Country Financial is a financial holding company headquartered in Springfield, Illinois with assets in excess of USD 700m. Its subsidiaries include Town and Country Bank and Town and Country Banc Mortgage Services, Inc. with 14 offices in Buffalo, Decatur, Edwardsville, Fairview Heights, Jacksonville, Lincoln, Mt. Zion, Springfield, Waverly, White Hall, and Quincy, Illinois.
Status: Closed
-DUTCH ROLLING STOCK LESSOR BEACON RAIL ACQUIRES ASCENDOS RAIL LEASING
Dutch rolling stock lessor Beacon Rail Leasing has closed on the acquisition of European locomotive and rolling stock leasing company Ascendos Rail Leasing S.à r.l., after having received clearance with the German competition authorities, the company said.
The combined Beacon and Ascendos portfolio includes 225 locomotives and over 1,000 freight wagons on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland and Germany, 55 passenger train units on lease in the UK and Germany, 67 double decker coaches on lease in Denmark, and 13 sets of Mark 5 coaches which will be operated by TransPennine Express in the UK.
Status: Closed
-GTCR, SCOTT HAPP FORM BUSINESS, ACQUIRE SOFTWARE FIRM OPTIMAL BLUE
Chicago, Illinois-based private equity firm GTCR has formed a partnership with mortgage technology executive Scott Happ to build a mortgage technology industry business, the company said.
Simultaneously, the parties agreed to acquire US-based, cloud-based software as a service provider Optimal Blue Holdings.
Status: Agreed
-COMMERCIAL METALS TO SELL AUSTRALIAN DISTRIBUTION ASSETS
Texas-based steel and steel products maker Commercial Metals Co (NYSE: CMC), through its wholly owned Australian subsidiary, G.A.M. Steel Pty. Ltd., has agreed to sell its remaining steel distribution assets located in Australia, the company said. The facility, located in Melbourne, Victoria, distributes and processes primarily long steel products.
Status: Agreed
-MCORPCX ACQUIRES PRODUCTIVITY SOFTWARE FIRM PERSONADRIVE
US-based customer experience solutions company McorpCX, Inc. (TSX Venture: MCX) (OTCQB: MCCX) has acquired Bellevue, Washington-based cloud-based productivity software creator PersonaDrive, Inc., the company said.
McorpCX plans to integrate the acquired technologies and services into the company's broader CX management platform.
Status: Closed
-ISRAELI WIFI NETWORK FRIM ALVARION TO BE ACQUIRED BY SUPERCOM FOR UP TO USD 2M
Israel-based secure solutions provider SuperCom has acquired Tel Aviv, Israel-based Wi-Fi network provider Alvarion, the company said.
In consideration for this acquisition, SuperCom will pay up to USD 1m in cash and an additional earn-out of up to USD 1m during the next two years, mainly based on sales from the Alvarion division. Alvarion designs solutions for Carrier Wi-Fi, Enterprise Connectivity, Smart City, Smart Hospitality, Connected Campuses and Connected Events that are both complete and heterogeneous to ensure ease-of-use and optimize operational efficiency.
Status: Agreed
-MORAN TRANSPORTATION ACQUIRES ASSETS OF AIRLINE INDUSTRY CARRIER
Illinois-based transportation and distribution services provider Moran Transportation Corp. has acquired the assets of US-based airline industry carrier provider Mats Trucking, the company said. The acquisition allows Moran to expand its next day direct footprint into the Minnesota market. Mats Trucking has been a service driven carrier serving the air freight forwarder and airline industries for over 30 years.
Status: Closed
-FAIRFAX FINANCIAL TAKES MAJORITY STAKE IN CANADIAN OUT-OF-HOME MEDIA FIRM ROUGE
Canada-based out-of-home media company Rouge Media Group has partnered with Toronto, Canada-based financial holding company Fairfax Financial, the company said.
The investment made by Fairfax, which now owns a majority stake in Rouge Media, will allow the company to grow its current and future activities in the US and Canada through expansion within its current platforms as well as through strategic acquisitions.
Status: Closed
-LAND O'LAKE TO ACQUIRE AGRICULTURAL BIOTECHNOLOGY FIRM CERES FOR USD 17.2M
US-based agribusiness Land O'Lakes has agreed to acquire all of the outstanding capital stock of US-based agricultural biotechnology company Ceres, Inc. (NASDAQ: CERE) in a transaction valued at approximately USD 17.2m, the company said.
Under the terms of the merger agreement, Land O'Lakes (through its wholly owned subsidiary, Roman Merger Sub, Inc.) will commence a tender offer for all outstanding shares of Ceres common stock for USD 0.40 per share, in cash.
Status: Agreed
-UK EVENTS FIRM UBM CLOSES USD 841M SALE OF PR NEWSWIRE TO CISION
UK-based B2B events organizer UBM plc has closed the sale of press release distributor PR Newswire to media intelligence company Cision for USD 841m, UBM said.
The compensation is comprised of USD 810m in cash and USD 31m of preferred equity. PRN is in public relations and investor relations communications and related services, connecting over 30,000 customers to their target audiences through its distribution network.
Status: Closed
-ALBEMARLE TO SELL CHEMETALL SURFACE TREATMENT BUSINESS FOR USD 3.2BN
US-based specialty chemicals company Albemarle Corp. (NYSE: ALB) has signed a definitive agreement to sell its Chemetall Surface Treatment business to German chemical maker BASF in a cash transaction valued at approximately USD 3.2bn, the company said.
This represents an LTM EBITDA multiple of 15.3x as of 31 March 2016. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year end.
Status: Agreed
-GARNERO TO ADJOURN SHAREHOLDER MEETING FOR THIRD TIME
US-based investment vehicle Garnero Group Acquisition Co. (NASDAQ: GGAC) has adjourned an extraordinary general meeting of its shareholders scheduled for 22 June 2016 until 19 July 2016, the company said.
This will be the third adjournment of the extraordinary general meeting. The extraordinary general meeting was originally scheduled for 25 April 2016 and was previously adjourned until 23 May 2016, then again until 22 June. The purpose of the extraordinary general meeting is to consider the proposed business combination with Brazilian apparel retailer Q1 Comercial de Roupas S.A. (Grupo Colombo, or GC) and certain related proposals.
Status: Agreed
-BULLSNBEARS OWNER INKS DEFINITIVE MERGER AGREEMENT WITH MICHAEL JAMES ENTERPRISES
US-based Michael James Enterprises, Inc. (OTCQB: MJTV), f/k/a Bullsnbears.com, Inc. has inked a final definitive merger agreement with Michael James Enterprises, Inc (MJE) a Nevada corporation, the company said.
In anticipation of this merger being completed, Bullsnbears.com, Inc. changed the corporate name to Michael James Enterprises, Inc., with new trading symbol of MJTV, before the end of 2015 to properly reflect the new direction of the company.
Status: Agreed
-HCP FILES FORM 10 IN US FOR PLANNED SPINOFF OF HCR MANORCARE NURSING, ASSISTED LIVING PORTFOLIO
US-based Michael James Enterprises, Inc. (OTCQB: MJTV), f/k/a Bullsnbears.com, Inc. has inked a final definitive merger agreement with Michael James Enterprises, Inc (MJE) a Nevada corporation, the company said.
In anticipation of this merger being completed, Bullsnbears.com, Inc. changed the corporate name to Michael James Enterprises, Inc., with new trading symbol of MJTV, before the end of 2015 to properly reflect the new direction of the company.
Status: Agreed
-ENERGY FUELS CLOSES ACQUISITION OF US URANIUM PRODUCER MASTENA
US-based uranium producer Energy Fuels Inc. (NYSE MKT: UUUU) (TSX: EFR) has closed the acquisition of US-based uranium producer Mesteña Uranium, LLC, in exchange for stock, the company said.
Under the deal, which was announded in March, Energy Fuels issued 4,551,284 common shares of the company to the current owners of Mesteña. Mestena operates the Alta Mesa ISR Project located in Brooks and Jim Hogg Counties, Texas.
Status: Closed
-BNC BANCORP CLOSES 95.5M ACQUISITION OF SOUTHCOAST FINANCIAL
US-based bank holding companies BNC Bancorp (NASDAQ: BNCN) and Southcoast Financial Corp. (NASDAQ: SOCB) have closed agreement under which BNC acquired all of the common stock of Southcoast in a stock transaction valued at approximately USD 95.5m, based on the closing price of BNC common stock on 13 August 2015, the company said.
BNC previously announced its plans to acquire Southcoast and Southcoast Bank on 14 August 2015.
Status: Closed
-PRESTON TO ACQUIRE GOLD PRODUCTION ROYALTY FROM ARIZONA MINE
US-based mining royalty financing company Preston Corp (OTC: PSNP) has signed an agreement to acquire a gold production royalty from an Arizona mine through its exclusive agent Western Mine Development LLC, the company said.
Preston said that the project is an alluvial placer mine that has just received an approved mining permit from the regulatory agency allowing for the commencement of commercial gold production, which when fully implemented is forecast to generate USD 28.8m a year EBITDA at a conservative pricing of USD 1,250 per ounce gold.
Status: Agreed
-EUROPEAN COMMISSION CLEARS PACKAGING FIRM BALL TO ACQUIRE REXAM
The European Commission has formally approved US-based packaging company Ball Corp.'s (NYSE: BLL) proposed acquisition of UK-based Rexam plc and thereby granted final regulatory clearance in Europe for Ball's offer for Rexam, the company said.
The EC has also formally approved Ardagh Group's proposed acquisition of certain Ball and Rexam businesses. Ball received final unconditional regulatory clearance in Brazil on June 8 and is working to obtain the remaining US regulatory clearance soon, enabling the proposed acquisition of Rexam to close.
Status: Agreed
-HGH INFRARED SYSTEMS ACQUIRES ASSETS OF ELECTRO OPTICAL INDUSTRIES
US-based financial advisor Alderman and Co. has completed its engagement as the exclusive M/A advisor to private equity firm Blue Wolf Capital in regard to its disposition of test and calibration equipment provider Electro Optical Industries, LLC, the firm said.
Alderman arranged a transaction for Blue Wolf whereby the assets of EOI have been acquired by HGH Infrared Systems, Inc. Blue Wolf Capital Partners LLC is a private equity firm founded in 2005. The firm specialises in control investments in middle market companies.
Status: Closed
-SHAREHOLDERS OF CANADIAN MINERS NEVSUN RESOURCES, RESERVOIR MINERALS APPROVE MERGER
US-based financial advisor Alderman and Co. has completed its engagement as the exclusive M/A advisor to private equity firm Blue Wolf Capital in regard to its disposition of test and calibration equipment provider Electro Optical Industries, LLC, the firm said.
Alderman arranged a transaction for Blue Wolf whereby the assets of EOI have been acquired by HGH Infrared Systems, Inc. Blue Wolf Capital Partners LLC is a private equity firm founded in 2005. The firm specialises in control investments in middle market companies.
Status: Agreed
-OIL AND GAS SERVICES FIRM WOOD GROUP ACQUIRES MANUFACTURING BUSINESS FROM ENTERPRISE ENGINEERING
UK-based oil and gas services company Wood Group plc has acquired the trade and assets of Enterprise Engineering Service Ltd.'s Aberdeen based fabrication and manufacturing business, the company said.
Wood Group said the acquisition further enhances its asset integrity management capabilities, adding fabrication to its services, which focus on driving efficiencies and extending the life of upstream and midstream assets in the UK oil and gas sector.
Status: Closed
-ORIGIN ENERGY SELLS AUSTRALIAN WIND FARM FOR AUD 72M
Australian integrated energy company Origin Energy Ltd. (ASX: ORG) has entered into a share sale agreement with Duet Group's Energy Developments Pty Ltd. subsidiary for the sale of Cullerin Range Wind Farm Pty Ltd for a cash consideration of AUD 72m (USD 53.81m), the company said.
Cullerin Range Wind Farm is a 30mw generator supplying electricity into the New South Wales market. Under the terms of the transaction, Origin has entered into a long-term offtake agreement with Cullerin Range Wind Farm Pty Ltd.
Status: Agreed
-COAL OF AFRICA AGAIN EXTENDS OFFER PERIOD FOR UNIVERSAL ACQUISITION
Australian coal company Coal of Africa Ltd. (ASX: CZA) (AIM: CZA) has again extended the effective date of the closing of its acquisition of UK coal producer Universal Coal Plc (ASX: UNV), this time to 15 July 2016, the company said.
It had been set to close on 24 June. As announced on 31 May 2016, CoAL has entered into two subscription agreements with Hengshun Zhongsheng Group Co., Ltd and Summer Trees PTE. Ltd pursuant to which the New Subscribers will subscribe for 229,885,058 and 114,942,529 CoAL Shares respectively at a price of AUD 0.0435 per CoAL Share, for total proceeds of AUD 15m.
Status: Agreed
-PPHE HOTEL GROUP TO SELL CROATIAN OPERATING COMPANIES
Guernsey-based hotel operator PPHE Hotel Group Ltd. (LSE: PPH) has entered into an agreement to sell its wholly owned Croatian operating companies to Arenaturist d.d. for HRK 108.55m (USD 16.36m) to be received in cash at completion, the group said.
Completion of the disposal is expected to take place by 30 June 2016 subject only to the parties having performed in all material respects their respective obligations in connection with the disposal, as at that date.
Status: Agreed
-UK RETAILER TESCO TO SELL DOBBIES GARDEN CENTRES FOR GBP 217M IN CASH
UK-based grocery and general merchansise retailer Tesco (LSE: TSCO) has agreed to sell its Dobbies Garden Centres business to an investor group led by Midlothian Capital Partners and Hattington Capital, the company said.
The sale represents the entire share capital of Dobbies Garden Centres Ltd. Tesco will receive GBP 217m in cash, which will be used for general corporate purposes.
Status: Agreed
-FINNISH RENTAL HOUSING FIRM SATO CLOSES ACQUISITION OF SVK YHTYMA
Finland-based rental housing company Sato Corp. has closed the acquisition of all the shares in SVK Yhtymä Oy, the company said. This deal was announced in April. The transaction was completed by a directed share issue approved by Sato's board of directors. Shareholders of SVK Yhtymä subscribed for a total of 728,763 shares in Sato.
As a result of the transaction, 1,255 modern rental apartments were transferred to Sato. The directed issue was carried out based on the authorisation granted to the board of directors by the annual general meeting on 3 March 2016.
Status: Closed
-ELY ACQUISITION TO BUY UK-BASED WATER MANAGEMENT SPECIALIST HYDRO FOR GBP 28M
UK-based investment vehicle Ely Acquisition Ltd. (Hanover Bidco) has agreed to acquire the entire issued and to be issued share capital of UK-based water management solutions company Hydro International plc not already owned by Hanover Bidco or the Hanover Bidco Group, Ely said.
Ely Acquisition is an investment vehicle ultimately owned by the Hanover Active Equity Fund LP. The boards of Hanover Bidco and Hydro have agreed on the deal. Hanover Bidco is a wholly owned indirect subsidiary of the Hanover Active Equity Fund LP.
Status: Agreed
-ROSNEFT, BP INK FINAL DEAL TO CREATE SIBERIA JV
British oil and gas major BP (NYSE: BP) (LSE: BP) and Russia's Rosneft (MCX: ROSN) have signed final binding agreements to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation, the companies said.
The joint venture will focus on onshore exploration of two Areas of Mutual Interest in the West Siberian and Yenisey-Khatanga basins covering a combined area of about 260,000 square kilometers. Yermak Neftegaz will be owned 51% by Rosneft and 49% by BP.
Status: Agreed
-ROSNEFT TO SELL STAKE IN VANKOR PROJECT TO INDIAN CONSORTIUM
Russian oil company Rosneft (MCX: ROSN) and a consortium of Indian companies led by Oil India Ltd. along with Indian Oil Corp. Ltd. and Bharat PetroResources Ltd. have signed the agreement of sale and purchase of 23.9% in Vankorneft, the company said.
Vankorneft, a Rosneft subsidiary, was established in 2004 for development of Vankor oil and gas condensate field - the largest of the fields, discovered and put into operation in Russia in the last 25 years.
Status: Agreed
-INTU PROPERTIES BUYS REMAINING 50% STAKE IN MERRY HILL ESTATE FOR GBP 410M
UK-based shopping centre operator intu properties plc (LSE: INTU) has exchanged contracts with the Queensland Investment Corp. to acquire the remaining 50% of the Merry Hill estate for GBP 410m (USD 602.33m) before expenses.
This represents an income yield of 5.2% based on net rental income of GBP 43m. The estate comprises the intu Merry Hill shopping centre, two retail parks, office and leisure uses along with development land.
Status: Agreed
-CHINA'S NATIONAL SILICON INDUSTRY TO OFFER DKK 335M FOR DENMARK'S TOPSIL
China-based technology group National Silicon Industry Group plans to submit a voluntary public offer to the shareholders and warrant holders of Danish silicon substrate supplier Topsil Semiconductor Materials A/S to acquire all of the shares and warrants in the company at a cash price of DKK 0.352 per share and a price per warrant of DKK 0.352 less the strike price of the warrant, the company said.
Status: Agreed
-ILLINOIS-BASED TOWN AND COUNTRY BANK BUYS CENTRUE BANK BRANCH
Illinois, US-based bank holding company Town and Country Financial Corp.'s (OTC: TWCF) Town and Country Bank subsidiary has completed its acquisition of a Centrue Bank branch in Fairview Heights, Illinois, the company said.
Town and Country Financial is a financial holding company headquartered in Springfield, Illinois with assets in excess of USD 700m. Its subsidiaries include Town and Country Bank and Town and Country Banc Mortgage Services, Inc. with 14 offices in Buffalo, Decatur, Edwardsville, Fairview Heights, Jacksonville, Lincoln, Mt. Zion, Springfield, Waverly, White Hall, and Quincy, Illinois.
Status: Closed
-DUTCH ROLLING STOCK LESSOR BEACON RAIL ACQUIRES ASCENDOS RAIL LEASING
Dutch rolling stock lessor Beacon Rail Leasing has closed on the acquisition of European locomotive and rolling stock leasing company Ascendos Rail Leasing S.à r.l., after having received clearance with the German competition authorities, the company said.
The combined Beacon and Ascendos portfolio includes 225 locomotives and over 1,000 freight wagons on lease in the UK, Scandinavia, Belgium, the Netherlands, Poland and Germany, 55 passenger train units on lease in the UK and Germany, 67 double decker coaches on lease in Denmark, and 13 sets of Mark 5 coaches which will be operated by TransPennine Express in the UK.
Status: Closed
-GTCR, SCOTT HAPP FORM BUSINESS, ACQUIRE SOFTWARE FIRM OPTIMAL BLUE
Chicago, Illinois-based private equity firm GTCR has formed a partnership with mortgage technology executive Scott Happ to build a mortgage technology industry business, the company said.
Simultaneously, the parties agreed to acquire US-based, cloud-based software as a service provider Optimal Blue Holdings.
Status: Agreed
-COMMERCIAL METALS TO SELL AUSTRALIAN DISTRIBUTION ASSETS
Texas-based steel and steel products maker Commercial Metals Co (NYSE: CMC), through its wholly owned Australian subsidiary, G.A.M. Steel Pty. Ltd., has agreed to sell its remaining steel distribution assets located in Australia, the company said. The facility, located in Melbourne, Victoria, distributes and processes primarily long steel products.
Status: Agreed
-MCORPCX ACQUIRES PRODUCTIVITY SOFTWARE FIRM PERSONADRIVE
US-based customer experience solutions company McorpCX, Inc. (TSX Venture: MCX) (OTCQB: MCCX) has acquired Bellevue, Washington-based cloud-based productivity software creator PersonaDrive, Inc., the company said.
McorpCX plans to integrate the acquired technologies and services into the company's broader CX management platform.
Status: Closed
-ISRAELI WIFI NETWORK FRIM ALVARION TO BE ACQUIRED BY SUPERCOM FOR UP TO USD 2M
Israel-based secure solutions provider SuperCom has acquired Tel Aviv, Israel-based Wi-Fi network provider Alvarion, the company said.
In consideration for this acquisition, SuperCom will pay up to USD 1m in cash and an additional earn-out of up to USD 1m during the next two years, mainly based on sales from the Alvarion division. Alvarion designs solutions for Carrier Wi-Fi, Enterprise Connectivity, Smart City, Smart Hospitality, Connected Campuses and Connected Events that are both complete and heterogeneous to ensure ease-of-use and optimize operational efficiency.
Status: Agreed
-MORAN TRANSPORTATION ACQUIRES ASSETS OF AIRLINE INDUSTRY CARRIER
Illinois-based transportation and distribution services provider Moran Transportation Corp. has acquired the assets of US-based airline industry carrier provider Mats Trucking, the company said. The acquisition allows Moran to expand its next day direct footprint into the Minnesota market. Mats Trucking has been a service driven carrier serving the air freight forwarder and airline industries for over 30 years.
Status: Closed
-FAIRFAX FINANCIAL TAKES MAJORITY STAKE IN CANADIAN OUT-OF-HOME MEDIA FIRM ROUGE
Canada-based out-of-home media company Rouge Media Group has partnered with Toronto, Canada-based financial holding company Fairfax Financial, the company said.
The investment made by Fairfax, which now owns a majority stake in Rouge Media, will allow the company to grow its current and future activities in the US and Canada through expansion within its current platforms as well as through strategic acquisitions.
Status: Closed
-LAND O'LAKE TO ACQUIRE AGRICULTURAL BIOTECHNOLOGY FIRM CERES FOR USD 17.2M
US-based agribusiness Land O'Lakes has agreed to acquire all of the outstanding capital stock of US-based agricultural biotechnology company Ceres, Inc. (NASDAQ: CERE) in a transaction valued at approximately USD 17.2m, the company said.
Under the terms of the merger agreement, Land O'Lakes (through its wholly owned subsidiary, Roman Merger Sub, Inc.) will commence a tender offer for all outstanding shares of Ceres common stock for USD 0.40 per share, in cash.
Status: Agreed
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