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EQT raises $24bn private equity fund. (FS)
Metro Pacific, San Miguel weighing $10bn toll merger. (FS)
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The US Federal Trade Commission and eight states said they are suing to block supermarket chain Kroger 's $24.6bn deal to buy smaller rival Albertsons saying it would boost grocery prices for millions of Americans, Reuters reported.
The deal, which would create a grocery empire with more than 4k stores, has drawn tough scrutiny from lawmakers and consumer groups worried about higher grocery prices, job losses, store closures and diminishing choice for consumers.
Kroger is advised by Citi (led by Brian J. Anton, CPA and David Finkelstein ), Wells Fargo , Arnold & Porter and Weil, Gotshal & Manges LLP (led by Michael J. Aiello ) and Joele Frank (led by Greg Klassen ). Cerberus Capital Management is advised by Dechert LLP (led by Eric Siegel and Mark Thierfelder ) and FGS Global (led by Andrew Cole ). Albertsons is advised by Credit Suisse , Goldman Sachs (led by Tim Ingrassia), Debevoise & Plimpton (led by Ted Hassi ), Fried Frank (led by Philip Richter ), Jenner & Block (led by Kevin T. Collins , Alex May and Edward Prokop ), Wachtell, Lipton, Rosen & Katz (led by Zachary Podolsky and Adam Emmerich ), White & Case LLP (led by George Paul ) and Brunswick Group . Financial advisers are advised by Alston & Bird (led by Stuart Rogers ), Cravath, Swaine & Moore LLP (led by Robert Townsend and Sanjay Murti ) and Davis Polk & Wardwell LLP (led by Phillip Mills and Cheryl Chan ).
Mexico Infrastructure Partners (MIP) , an investment fund manager specialized in infrastructure and energy sectors, completed the acquisition of a portfolio of natural gas plants and a wind farm from Iberdrola , a company that generates, distributes, trades, and markets electricity, for $6bn.
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The operation has the financial support of the National Infrastructure Fund of Mexico and other public financial entities associated with the Government of Mexico. The Iberdrola Group, through the new investments it will carry out in Mexico, will reaffirm its leadership in the development of renewable energy in the country.
Iberdrola was advised by Citi , J.P. Morgan and Santander . Mexico Infrastructure was advised by Barclays (led by Raul Martinez-Ostos Jaye ).
CRH , an international group of diversified building materials businesses, and Barro, a ready mix concrete supplier, agreed to acquire the remaining 53% stake in Adbri , a manufacturer of cement, lime and dry blended products, for $700m.
“We are pleased to reach this important milestone in the potential acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri,” Albert Manifold , CRH CEO.
EQT raises $24bn private equity fund. (FS)
EQT Group had raised €22bn ($23.9bn) for its latest buyout fund, bucking a challenging environment for private equity fundraisings, Reuters reported.
The Swedish investment giant said it had exceeded the fundraising target for its EQT X fund by €2bn ($2.17bn), making it its largest-ever fundraise. The fund, which is almost 40% bigger than its predecessor, saw bumper support from private wealth investors, a pool of capital that alternative asset managers are increasingly looking to tap.
Metro Pacific, San Miguel weighing $10bn toll merger. (FS)
Philippine conglomerates Metro Pacific Investments Corporation and San Miguel Corporation have started talks to explore combining their toll road businesses, which would form a group worth as much as $10bn, making it the country's biggest-ever merger, Bloomberg reported.
If a deal is reached, it could also lead to the merged entity being listed on the stock exchange in Manila. The companies are also exploring other possible business combinations, including of their power and energy divisions.
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