GE Vernova said on Thursday it will sell its Proficy industrial software unit to private equity firm TPG for $600 million and reinvest the proceeds in grid software. Proficy, which accounts for about 20% of GE Vernova’s...
Carlyle, EQT, HongShan among final bidders for Starbucks China, sources say
Global investment firms Carlyle Group and EQT, alongside regional players HongShan Capital Group and Boyu Capital, are preparing final offers for a controlling stake in Starbucks’ China operations, said five...
Private equity firm Advent to sell generic drugmaker Zentiva to GTCR
Czech generic drugmaker Zentiva said on Thursday that private equity group Advent International had agreed to sell the company to rival GTCR for an undisclosed value. The deal values the Prague-based company at slightly...
Indonesian energy firm Pertamina to merge refinery, shipping, retail operations
Indonesian state energy firm PT Pertamina will merge the operations of its refinery, shipping and retail units to improve efficiency in its core business, CEO Simon Aloysius Mantiri said on Thursday. “We will...
Technip Energies buys Ecovyst’s Advanced Materials & Catalysts business for $556 million
French energy infrastructure company Technip Energies said on Thursday it had agreed to buy U.S.-based chemicals group Ecovyst’s Advanced Materials & Catalysts business for $556 million, sending its shares up...
France’s Artemis won’t exit Puma stake at current value, source says
Artemis, the Pinault family’s holding that controls Gucci-owner Kering, will not sell its 29% stake in sports brand Puma at the current market value and is not engaged in talks over a deal, a source close to the...
Minute Media acquires video editing software startup VideoVerse
Minute Media, a global sports publishing and ad technology platform, has acquired Alpha Wave Global-backed video editing software startup VideoVerse, the company said on Tuesday. With this acquisition, Minute Media...
Convenience store operator RaceTrac to buy sandwich chain Potbelly for $566 million
RaceTrac agreed to buy sandwich chain Potbelly Corp for approximately $566 million on Wednesday, in a rare move for a convenience store operator to buy out a restaurant brand. Family-owned RaceTrac, which operates...
Italy’s Bending Spoons to take Vimeo private in $1.38 billion deal
Video platform Vimeo, whose popularity surged during the pandemic, said on Wednesday it will be acquired by Italian app developer Bending Spoons for about $1.38 billion, a deal that would take it private after more than...
Elliott takes stake in Japan’s Kansai Electric, source says
Activist investor Elliott Management has become one of the top three shareholders of Kansai Electric Power with a stake of between 4% and 5%, a person familiar with the matter said on Wednesday. Kansai Electric’s...
ADNOC close to finalising EU remedies for Covestro deal, sources say
Abu Dhabi state oil giant ADNOC is readying remedies to address an EU subsidy investigation into its 14.7 billion euro ($17.2 billion) bid for Germany’s Covestro that will likely see it convert a proposed 1.2...
Kering delays full Valentino acquisition to 2028 amid debt concerns
Kering said on Wednesday that it will not fully buy Italian fashion brand Valentino until at least 2028, its first major move under new CEO Luca de Meo, pushing back the execution of an expensive deal that has been...
