HSBC has started the sale process for its Singapore life insurance product manufacturing business with the hiring of an adviser, and is hoping for the deal to be valued at more than $1 billion, said three sources with...
France’s Engie to buy UK power grid from Hong Kong conglomerate for $14 billion
French utility Engie will buy electricity distributor UK Power Networks for 10.5 billion pounds ($14.2 billion) in a bid to expand its power business, the company said on Wednesday as it reported flat full-year earnings...
GSK to buy 35Pharma for $950 million in CEO Miel’s second major deal
GSK has agreed to pay $950 million in cash for Canadian biotech 35Pharma, it said on Wednesday, marking the second major deal new CEO Luke Miels has struck to accelerate development of new medicines at the British...
LG Energy selling its 7.5% stake in lithium firm Liontown, term sheet shows
South Korea’s LG Energy Solution is selling its 7.5% stake, or shares worth at least A$419 million ($297.99 million), in Australian lithium producer Liontown in a block trade, according to a term sheet. The South...
Stripe is considering acquisition of all or parts of PayPal, Bloomberg News reports
Payments firm Stripe is considering an acquisition of PayPal or parts of the digital payments pioneer, Bloomberg News reported on Tuesday, citing people familiar with the matter. Stripe, which is privately held and is...
Activist Irenic builds stake in Ralliant, pushes for cost cuts
Irenic Capital Management has built a sizable stake in Ralliant and wants the precision technology maker to cut costs, buy back more stock at a faster pace and focus more on its defense and electronics business, two...
Kuwait’s KPC draws BlackRock, Brookfield, EIG to possible $7 billion pipeline deal, sources say
National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over a $7 billion stake sale in its crude oil pipelines, three sources familiar with the...
Einride spins off design organisation
Swedish self-driving truck startup Einride said on Tuesday it had spun off its design business and sold a majority stake in the new company to Navisalma Design. “Einride will retain a minority ownership stake in...
Zurich Insurance to buy Australia’s ClearView Wealth for $288 million
Australian life insurer ClearView Wealth said on Tuesday it has agreed to be acquired by a local unit of Zurich Insurance Group, Europe’s second-largest insurer by market value, for A$408.3 million ($288.30...
Citi signs deal to sell 24% equity stake in Banamex
Citigroup said on Monday it had entered into agreements to sell a 24% stake in Banamex to a group of institutional investors and family offices for around $2.5 billion. Among the investors were U.S. private equity firm...
Gilead to buy cancer therapy developer Arcellx for up to $7.8 billion
Gilead Sciences will pay as much as $7.8 billion to acquire partner Arcellx in its largest deal since 2020, the biopharma company said on Monday, as it looks to strengthen its lineup of cancer treatments. The company...
Ireland, Finland, others warn against relaxing EU merger rules
Finland, Ireland, the Czech Republic and two Baltic countries have warned against loosening EU merger rules in response to calls by some companies for easier regulatory scrutiny of their deals in order to better compete...
