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Drug giant Pfizer sells $3.3bn stake in Sensodyne-maker Haleon.
CVC-backed retailer eyes raising $1.7bn in Warsaw IPO. (FS)
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Abu Dhabi state oil giant ADNOC Group said on Tuesday that it has agreed to buy German chemicals producer Covestro for €14.7bn ($16.34bn), including debt, Reuters reported.
The €62 per share cash deal, which will also see ADNOC take on about €3bn in debt, follows protracted negotiations and is a cornerstone of the energy giant's to grow in petrochemicals along with gas and renewable energy.
ADNOC is advised by Morgan Stanley . Covestro is advised by FGS Global (led by Sebastian Mewißen ).
BlackRock , an American multinational investment company, completed the acquisition of Global Infrastructure Partners (GIP) , an independent infrastructure fund manager, for $12.5bn.
“We are excited to embark on this new chapter as Global Infrastructure Partners (GIP), a part of BlackRock, with the goal of creating the premier global infrastructure investing firm. The combination of our institutional intellectual capital, investing and business improvement capabilities, global footprint, corporate and government relationships will allow us to deliver attractive investments for our investors and innovative solutions for our customers,” Bayo Ogunlesi, Global Infrastructure Partners Chairman and CEO.
BlackRock was advised by Perella Weinberg Partners, AZB & Partners (led by Zia Mody , Atreya Bhattacharya , Anuja Tiwari , Ashwath Rau and Rushabh Maniar ), Clifford Chance (led by Stavroula Vryna and Dimitri Slobodenjuk ), Fried Frank (led by Jonathan S. Adler), Gorrissen Federspiel (led by Camilla C. Collet ), Herbert Smith Freehills (led by Fiona Smedley, David Ryan and Elizabeth Charlesworth ), Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by David Hepp ). Global Infrastructure Partners was advised by Evercore , Debevoise & Plimpton (led by Alisa A. Waxman), Khaitan & Co (led by Gahan Singh ) and Kirkland & Ellis (led by Daniel Lavon-Krein ).
TotalEnergies , a French multinational integrated oil and gas company, Apache Corporation , a holder of companies exploring and producing oil and natural gas and Staatsolie Maatschappij Suriname N.V , a Surinamese oil and gold company, agreed to form GranMorgu, a joint venture operating Block 58 offshore in Suriname, in a $10.5bn deal.
“I am very pleased to launch today the GranMorgu project alongside our partners Staatsolie and APA and I sincerely thank the State of Suriname for its strong support. Building on TotalEnergies’ pioneering spirit, this landmark project marks the first offshore development in the country and capitalizes on our extensive expertise in deep offshore innovation. Launched only a year after the end of appraisal, GranMorgu fits with our strategy to accelerate time-to-market and develop low-cost and low emission oil projects," Patrick Pouyanné, TotalEnergies Chairman and CEO.
Drug giant Pfizer sells $3.3bn stake in Sensodyne-maker Haleon.
Pfizer sold a stake in British consumer healthcare group Haleon worth about $3.26bn cutting its stake from 22.6% to 15%, Reuters reported.
Haleon was formed from a combination of GSK and Pfizer's consumer-health units. The company manufactures products including Panadol pain relief tablets, Sensodyne toothpaste and Centrum vitamins.
CVC-backed retailer eyes raising $1.7bn in Warsaw IPO. (FS)
Investors led by private equity fund CVC Capital Partners seek to raise as much as PLN6.45bn ($1.67bn) in an initial public offering of Poland’s Żabka Polska Group, Europe’s largest chain of convenience stores, Bloomberg reported.
In what may be the biggest Warsaw listing in four years, shareholders in the 7-Eleven -styled chain are offering 300m shares, or a 30% stake. The price range is set at PLN20 ($5.2) to PLN21.5 ($5.6) per share, which gives the company an implied market value of as much as PLN21.5bn ($5.6bn).
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