Deals of the day: Mergers and acquisitions
** German Chancellor Friedrich Merz said on Monday the government had not yet decided whether it would take a stake in the German division of state-owned Dutch power grid operator TenneT and was still in talks with the Netherlands.
** Sands Point Risk has closed its first acquisition with a deal for Pennsylvania-based medical stop-loss MGU BRM Specialty Markets, the latest step in its expansion plans after previously launching in transactional liability and construction, sources familiar with the matter told Program Manager.
** London-based private equity firm Apax Partners has agreed to acquire Guernsey-based investment company Apax Global Alpha (AGA) for about 916.5 million euros ($1.07 billion), the companies said.
** Norwegian online classifieds group Adevinta said it had sold its Spanish business to Swedish private equity firm EQT to focus more on its remaining European units.
** Britain and ChatGPT maker OpenAI have signed a new strategic partnership to deepen collaboration on AI security research and explore investing in British AI infrastructure, such as data centres, the government said on Monday.
** French engine and aircraft equipment maker Safran said it had finalised the acquisition of flight control and actuation activities from Collins Aerospace.
** Power equipment maker GE Vernova will buy France-based Alteia, which makes artificial intelligence-based tools that allow utility companies to review their grids, it said.
** Shares of Brazilian medical diagnostics company Fleury jumped on Monday after reports of a potential acquisition by hospital chain Rede D'Or, which analysts said could generate synergies.
** Eutelsat said it has signed a strategic agreement with the UK government to offer connectivity services through its LEO network for diplomatic missions, law enforcement activities and military operations and critical interventions.
** Titan Company will buy a 67% stake in Dubai-based luxury brand Damas from Qatar's Mannai Corporation at an enterprise value of 1.04 billion dirham ($283.2 million), potentially making it one of the largest Indian jewellers in the Middle East.
** German forklift truck maker Jungheinrich said it had agreed to sell its Russian unit to a Russian financial investor and asset manager, and was cutting its full-year profit forecast as a result.
** Financial software provider SS&C Technologies said it will acquire Carlyle's British fund network and data business Calastone for about 766 million pounds ($1.03 billion).
** Cross-border payments provider IFX Payments said that it is considering withdrawing its takeover offer for Argentex , just days after the British currency risk management company appointed administrators due to a funding shortfall.
** Emirati conglomerate Al-Futtaim is to buy a 49.95% stake in Saudi Arabian franchiser Cenomi Retail in a deal worth more than 2.5 billion riyals ($667 million), Cenomi Retail said in a statement on Sunday. (Compiled by Rajarshi Roy, Prakhar Srivastava and Apratim Sarkar in Bengaluru)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
18 minutes ago
- Zawya
Emirates introduces retrofitted Boeing 777 to Madrid
Emirates has announced it will deploy its newly refurbished Boeing 777 aircraft to/from Madrid starting from September 16. Customers can look forward to an enhanced travel experience with upgraded interiors and premium signature travel touches across all cabins. Madrid is Emirates' first destination in Spain to operate with the airline's next-generation interiors. Emirates' four-class Boeing 777 will operate as flight EK143/EK144. Emirates flight EK143 will depart Dubai at 14:30hrs and arrive in Madrid at 20:20hrs local time. The return flight, EK144 will depart Madrid at 22:05hrs and arrive in Dubai at 7:10hrs local time, the following day. The deployment of Emirates' retrofitted Boeing 777 to Madrid marks a new era of premium travel to the Spanish city - offering customers the airline's award-winning Premium Economy service, newly configured Business Class cabin, and a 'better' travel experience to/from the country. Emirates' newest Boeing 777 cabin interiors include: A refurbished First-Class cabin with upgraded interiors. New Business Class cabin that provides more privacy and comfort for customers with fully lie-flat seats in an updated 1-2-1 seating configuration. Latest Premium Economy cabin which combines accessible luxury with comfort; offering cream leather seats, increased legroom, adjustable headrests, deeper seat recline and raised cushioned leg rests. Spacious Economy Class seats with new design elements. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
Britain's biggest pension scheme to lobby governments more on climate
Britain's biggest private sector pension scheme plans to step up lobbying of governments, regulators and standard-setters to push for faster action amid a worsening climate outlook, its investment chief told Reuters. The Universities Superannuation Scheme, which manages nearly 78 billion pounds ($105.67 billion), has reduced emissions linked to its own portfolio. But Simon Pilcher said there was only so much schemes could achieve through asset reallocation. "That's why the high-value engagement is with governments and regulators to create the environment where the low-carbon action happens. It is, I would say, 90% up to them and only 10% up to capital allocation," the chief executive of USS Investment Management said. The British government in May signed an accord with pension investors to try to scale up investment in UK infrastructure and green programmes to help the country reach its net-zero goal, which is enshrined in law. Pilcher said changing the rules to make it easier for companies and consumers to overhaul their climate-damaging practices was the most effective lever for change, and the scheme had decided to "turn the dial up" on its lobbying efforts. "Corporates will change their activity when it's sane for them to do that," Pilcher said. "There needs to be a strong financial interest for those businesses to do the sensible thing; no one is going to spend money if, bluntly, they're going to be wasting that money." While USS IM has no formal arrangements with other investors, it has good relationships with the UK's local government pension schemes, and investors such as Railpen and Nest, the country's biggest auto-enrolment scheme, making it an influential voice within the sector. In the UK, lobbying would include talking to the Department for Energy Security and Net Zero about its strategy and encouraging them to, for example, reform the planning process to make it easier to connect renewables to the electricity grid. The United Nations said last October the world was on course to hit more than 3 degrees Celsius of warming above the pre-industrial average by the end of the century, based on current emissions-reduction pledges by countries, way off the world's goal of capping warming at 1.5 C. ($1 = 0.7381 pounds) (Reporting by Simon Jessop; Editing by Alison Williams)
Arabian Business
3 hours ago
- Arabian Business
Multiply Group completes acquisition of Spanish apparel maker Tendam
Abu Dhabi's Multiply Group has completed the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share – its first major investment in Europe. Multiply now has a majority interest of 67.91 per cent in Castellano Investments, the owner of Tendam Brands and other subsidiaries. The deal will double Multiply's post-consolidation operational EBITDA. Tendam, one of Europe's leading omnichannel apparel groups, operates over 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America. Its diversified portfolio of 12 brands caters to multiple customer segments through such established names such as Women'secret, Springfield, Cortefiel and Pedro del Hierro. Tendam has recorded steady, quarter-on-quarter growth, strengthening its business model in core markets while expanding its international presence. At the end of June 2025, the company reported last 12-month sales of €1.4 billion (US$1.65 billion) and EBITDA of €340.7 million (US$401.2 million). With the acquisition, Multiply Group has deepened its investments in consumer-focused industries and established a presence in the retail and apparel sector. Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: 'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. 'Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.' Multiply will fuel the next growth phase of Tendam, including further international expansion across Europe, Latin America, and the Middle East. Embedding AI across all aspects of the business, from sourcing to customer operations, Multiply will support this growth journey and will leverage the digital infrastructure the company already has in place. It will also support the business with targeted M&A to introduce new brands and categories. Jaume Miquel, Chairman and CEO of Tendam, added: 'Today, we are starting a new era. We will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology, delivering stronger growth and profitability through a unique, unrivalled omnichannel brand ecosystem.' From a strategic standpoint, the acquisition offers Multiply Group a significant opportunity to leverage Tendam's strong brand platform and proven performance to drive future growth, supported by favourable consumer tailwinds in the global apparel retail market.
