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Adnoc launches new natural gas and chemicals investment unit valued at $80bn. (WSJ)
Brookfield drops $6.8bn offer to buy drugmaker Grifols. (Bloomberg)
OpenAI allows employees to sell $1.5bn stock to SoftBank. (Reuters)
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GTCR LLC , a private equity firm, agreed to invest $1.33bn in Tricentis , a continuous testing and quality engineering company.
Tricentis is advised by Bank of America , Evercore , J.P. Morgan and Willkie Farr & Gallagher LLP (led by Matthew Guercio ). GTCR is advised by Kirkland & Ellis (led by Mark Fennell , Neil Vohra and Francesco Castaldi ).
Teleperformance , a digital business services provider, agreed to acquire ZP Better Together, a company providing language solutions and technology platforms to the deaf and hard of hearing community, from Kinderhook Industries , a private investment firm, for $490m.
Teleperformance is advised by Grant Thornton International Ltd , Latham & Watkins and Image 7 . ZP is advised by Jefferies .
Adnoc launches new natural gas and chemicals investment unit valued at $80bn. (WSJ)
ADNOC Group launched a new unit called XRG, with an enterprise value of over $80bn, to invest in natural gas, chemicals and low-carbon energies.
XRG is aiming to integrate ADNOC's vast resources in energy and chemicals to accelerate the UAE’s energy transition and contribute to global decarbonization efforts.
Brookfield drops $6.8bn offer to buy drugmaker Grifols. (Bloomberg)
Brookfield has decided to withdraw its $6.8bn bid to acquire Spanish pharmaceutical company Grifols after being rejected by Grifols' board.
The transaction was expected to involve up to €10bn ($10.5bn) in debt financing. After deal cancellation the financing agreements were dissolved, causing banks to loss a potential $220m debt fee.
OpenAI allows employees to sell $1.5bn stock to SoftBank. (Reuters)
OpenAI is allowing employees and former staff to sell up to $1.5bn worth of shares to investors, including SoftBank Group Corp. , in a tender offer.
This initiative provides liquidity to employees who hold restricted stock units while enabling SoftBank to increase its stake in the company. OpenAI plans to allow similar secondary sales annually to support its capital-intensive operations.
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