M&A

The following has been reported in the newspapers referred to below: 

  • UK private-equity firm Bridgepoint Capital Group Ltd. has announced that it has sold UK-based medical imaging company Alliance Medical Holdings Ltd. to investment company Dubai International Capital for US$1.25bn (WSJE, November 6, 2007, p. 3) 
  • On November 5, 2007, the Qatari-backed investment fund Delta Two abandoned its US$22bn bid for UK-based retailer Sainsbury blaming the increased cost of funding the bid due to recent credit market turmoil (FT, November 6, 2007, p. 20; WSJE, November 6, 2007, p. 3; 19) 
  • Anglo-Dutch manufacturing group Unilever has agreed to sell its Boursin cheese unit to Le Group Bel, a French cheese company, for €400m (WSJE, November 6, 2007, p. 8) 
  • UK-based media conglomerate Pearson PLC has announced that it has reached an agreement to sell French financial newspaper Group Les Echos SA to French-based luxury goods maker LVMH Moët Hennessy Louis Vuitton SA for €240m (WSJE, November 6, 2007, p. 8) 
  • Indian-based sports-motorcycle maker Bajaj Auto Ltd. has bought a 14.5% stake in Austrian-based sports-motorcycle maker KTM Power Sports AG for about US$76.6m (WSJE, November 6, 2007, p. 8) 
  • Shareholders from Luxembourg-based steel producer Arcelor SA have approved Dutch-based rival Mittal Steel Co’s acquisition of the company. The new entity ArcelorMittal has stated that the merger will enter into effect on November 13, 2007 (WSJE, November 6, 2007, p. 4) 
  • Shareholders from Dutch multinational company Akzo Nobel NV have voted in favor of the proposed acquisition of UK-based chemical company Imperial Chemical Industries for €11.8bn (WSJE, November 6, 2007, p. 8) 
  • On November 6, 2007, Swiss-based fund of hedge funds manager Gottex Fund Management is expected to launch its initial public offering, hoping to raise up to about US$607m (FT, November 6, 2007, p. 20)
  • UK-based financial services group Old Mutual is understood to be considering selling its controlling stake in South African short-term insurer Mutual & Federal to the Royal Bafokeng Nation, an empowerment grouping for the local rural community, for about €840m (FT, November 6, 2007, p. 3) 
  • The following concentration has been notified to the European Commission: 
    • CommScope/Andrew (supply of base station antennas, cables and other equipment for wireless telecommunication devices) (OJ C 263, 6 November 2007, p. 19) 
    • The following concentration has been cleared by the European Commission: 
    • Amadeus/Sabre/JV (provision of payment processing and clearing services for the travel industry) (OJ C 263, 6 November 2007, p. 1)

Other 

  • Matteo Arpe, the former chief executive of Italian banking group Capitalia is to set up a diversified financial services group called Sator Group. The new entity will be looking to acquire small banks in order to launch operations in private and corporate banking (FT, November 6, 2007, p.17)