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Edelweiss seeks buyer for minority stake in mutual fund unit. (Bloomberg)
Blackstone to launch IPO for Cirsa in 2025. (Expansion)
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Quikrete , the largest manufacturer of packaged concrete in the United States, agreed to acquire Summit Materials , a producer of aggregates and cement, for $11.5bn.
Summit Materials is advised by Evercore , Morgan Stanley , Davis Polk & Wardwell LLP (led by James P. Dougherty and Evan Rosen) and FGS Global (led by Jim Barron and Benjamin Spicehandler). Quikrete is advised by Wells Fargo , Covington & Burling LLP and Troutman Pepper . Debt financing is provided by Wells Fargo Securities.
UniCredit , an Italian multinational banking group, offered to acquire BancoBPM , an Italian bank, for €10.1bn ($10.5bn).
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UniCredit is advised by Cappelli Riolo Calderaro Crisostomo Del Din & Partners - Studio Legale .
Mubadala , Abu Dhabi's sovereign wealth fund, agreed to acquire CI Financial , a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia, for CAD12.1bn ($8.65bn).
CI Financial is advised by INFOR Financial , RBC Capital Markets , Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates (led by June Dipchand), Stikeman Elliott LLP , Wildeboer Dellelce LLP and StreetCred PR (led by Jimmy Moock). Mubadala is advised by BMO Capital Markets , Jefferies , Blake, Cassels & Graydon LLP , Latham & Watkins and FGS Longview (led by Boyd Erman).
Edelweiss seeks buyer for minority stake in mutual fund unit. (Bloomberg)
Investment and financial services company Edelweiss Financial Services Limited has engaged Nomura to assist in finding a buyer for a 25% to 35% stake in its mutual fund business.
The Mumbai-based firm is targeting a valuation of $700m to $800m for the entire unit.
Blackstone to launch IPO for Cirsa in 2025. (Expansion)
Private equity firm Blackstone plans to take Spanish gambling company CIRSA public in the first half of 2025.
The IPO is expected to raise between €700m ($732m) and €1bn ($1.1 bn) by floating 20% to 25% of the company. Blackstone has enlisted Barclays , Deutsche Bank , and Morgan Stanley as global coordinators for the offering.
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