thiswekfinance

< back to articles

Sales and Acquisitions roundup

by PlanWriter | on December 16th, 2014

As always, the business world continues to turn, and sales and acquisitions continue to happen across the globe. From the US to Europe, we bring you the weeks hottest stories, so take 10 minutes to find out about the deals you’ll need to know about.

 

Merck & Co to purchase Cubist

The planned acquisition of Cubist Pharmeceuticals, a deal said to be worth $8.4 billion, has been confirmed by Merck and Co this week. The deal is expected to still continue, despite Cubist’s failure to thwart attempts to provide generic versions of its biggest seller. Court ruling aside, Merck & Co will plough on with the purchase, and revealed this week that it is expected to bolster its profits long term.

 

Telair for sale…… for a hefty price

AAR Corp revealed this week that they are willing to sell Telair, their German cargo handling company. According to sources, the deal was likely to only go ahead if the pricetag was to be met, and since the deal could see Telair valued at  $988 million dollars, its for serious bidders only.

 

Santander “thinking about” buying back stock rumours are not true

According to reports by Bloomberg earlier in the week, the Spanish banking giant were thinking about purchasing back the 28% of Santander Consumer USA Holdings, (US based car finance company) from the stock market. Santander however, denied the rumours, stating categorically that they were not considering  the move.

 

Gas fired power station in Arkansas targeted by Entergy

Union Power Partner, who are owned by Entegra TC LLC, are to sell off a natural gas fired powerstation in a deal split between Entergy in Arkansas, Entergy in Texas and Entergy Gulf States Louisiana. Entergy claim that this will ensure they are able to keep up with increasing demand for gas power, and also in order to modernise some of their offerings.

 

Talisman a popular target

Speaking of energy, Canada’s oil production company, Talisman Energy appears to have recently been on the receiving end of multiple offers to do business. The company has been targeted by Spanish firm Repsol SA, amongst others for a variety of different transactions.

 

Mozambique coal mine nets Vale SA $763m

Vale SA, the Brazilian company, netted $763 million for the sale of it’s stake in the coal mine in Mozambique. They sold the share to hike up their funds after disappointing performacne when the value of commodities dropped.  Mitsui & Co Ltd, one of Japan’s major traders were the buyers.

 

Indonesian airline firm seeks help

It has been reported that PT Merpati Nusantara Airlines is looking to restructure in order to solve the debt problems they’ve been suffering for some time. The state owned airline are heavily in debt. Options could include a combination of finding new investors, and looking at a possible debt to equity swap.

 

Aircraft maker to buy off $160m Gulfstream business

Speaking of air travel, fuselage manufacturer Spirit Aerosystems have made an offer to the Triumph Group for the part of their business that manufactures wings for Gulfstream jets. According to reports, the bid was for $160m but it is not yet known whether Triumph have responded.

Patria offloaded as Airbus look to the stars.

Patria, the Finnish defence company, will no longer have Airbus as a minor stakeholder. Airbus Group NV have made the decision to coincide with their latest plans, which are to streamline their space activities and also their defence activities. It is not yet known how much the stake is worth.

 

Britains Land Securities to stay closer to home.

The Land Securities group has offloaded £224.1m worth of Scottish property to HSBC, in an effort to concentrate on their biggest earner, bigger commercial real estate around the London area. The centre, which is Scotlands 2nd largest indoor shopping centre, and a retail park in West Lothian make up 1.2 million ft3 of retail space.

 

Weakened Citigroup’s Japanese banking business expected to be snapped up by Sumitomo Mitsui

The struggling banking business has been on the market for only a few months, but despite a low first round bidding attempt, it has been reported to be almost a done deal now for  Sumitomo Mitsui Financial Group. Citigroup have declined to comment but according to Reuters, four banks were involved in the initial round and Sumitomo are expected to annouce their sucessful bid (said to be approximately $334m)  as early as next week.

 

Brocacef takes over Mediq

In the pharmaceuticals industry, dutch wholesale business Brocacef announced their imminent take over of medical equipment and supplier company Mediq.  The merging of the two businesses should, according to Brocacef, net them a combined sales portfolio of around $2.59bn.

 

L’Express targeted by Vivendi SA

French magazines are in high demand by Vivendi SA, as they have approached Roularta Media Group NV to express their interest in purchasing its magazine titles. The magazines,  including the weekly newspaper L’Express are said to be of real interest to the media group, so watch this space to see if the titles change hands.

 

Carlyle buys major stake in publishing and tech service business

According to reports, the Private equity group purchased the majority stake in the Indian firm, Newgen KnowledgeWorks, a major player in publishing for the UK, US and Europe. The stake, worth $32.8m will give the Carlyle Group the majority share in what seems to be a long established business.

 

Reliance Industries partners with Chinese firm

The textile business that Reliance Industries will be transferring in order to boost profits, will go into the joint venture with Shandong Ruyi Science and Technology Group. This powerful partnership will likely go far, as each one does business well on its own merits. Globalising its offerings further will likely make this a very fruitful partnership for the two.

 

Of course, as the deals keep coming, and the rumours keep flying, we’ll be here to give you a rundown next week of the latest deals, acquisitions and mergers, so don’t forget to come back next week and check out what’s new in the business world.