Music Industry Shakeup, Steve Cohen's Newest Deal, & Tobacco Titan's Bond Issuance.
September 6, 2023's biggest news in the private markets.
Mergers, Acquisitions, & Investments
Major NYC Asset Alert! The FDIC is on the hunt for investors to snap up $33B of commercial property loans from Signature Bank, primarily secured by multifamily assets in the Big Apple.
Energy Mega Deal: Enbridge is set to acquire three gas utilities from Dominion Energy for a whopping $9.4B.
Sky High Aspirations: Hungary is negotiating a significant takeover of the Budapest Airport with a potential deal tag of around $4.3B.
Football Drama: Manchester United's $3.2B valuation took a hit, with stocks plummeting 18% amid rumors that the Glazer Family might pull it off the sale block.
Telecom Rescues: Saudi Telecom throws a lifeline to the beleaguered Spanish telecom giant Telefonica with a $2.3B investment for a 10% stake.
Asian Real Estate Shake-Up: Singapore's GIC mulls over the sale of a signature skyscraper in Tokyo's Shiodome City Center, expecting bids over $2B.
Copper Race in Botswana: Chinese majors - Zijin Mining Group, MMG, and Aluminum Corp. of China vie for a coveted copper mine, with bidding possibly reaching $2B.
HealthTech's Next Big Move: PE titan Thoma Bravo inches closer to sealing a deal with NextGen Healthcare, valued at $1.4B.
Glass Revolution: Aussie packaging leader Orora is set to fuse with French luxury glassmaker Saverglass in a $1.4B transaction.
Energy Assets on the Move: Viper Energy Partners is splurging ~$1B in cash and stock to secure mineral and royalty assets in the prolific Permian Basin.
Midstream Major Deal: Western Midstream Partners pens a deal to procure Meritage Midstream Services II for $885M.
Wealth Management Powerplay: The Ontario Teachers’ Pension Plan eyes a colossal acquisition, taking over UK's Seven Investment Management with $21B assets at a $565M EV.
Pipeline Investment Surge: Sixth Street pumps an additional $400M into a JV aligned with BP, focusing on US pipeline assets.
Retail Resurgence: UK's B&M is set to rejuvenate 51 stores of the fallen retailer Wilko with a $16.3M deal.
Music Industry Shakeup: Warner Music plays a new tune, acquiring a dominant stake in 10K Projects, the force behind Ice Spice.
Furniture Giants Unite: Brazil witnesses a retail transformation as Mobly and Tok&Stok announce a groundbreaking merger via stock exchange.
Venture Capital
E-commerce Game-Changer: Wayflyer, the e-commerce loan maven, secures a colossal $1B boost from Neuberger Berman.
Future of Travel: Holographic tech pioneer Envisics lands a flashy $100M Series C, championed by Hyundai Mobis.
Biotech Revolution: Star Therapeutics, innovating in antibody therapies, clinches a robust $90M Series C backed by Sofinnova Investments.
Robotics Renaissance: Mujin attracts an $85M Series C infusion, led by the influential SBI Investment.
AI's Financial Watchdog: ThetaRay, leveraging AI to tackle money laundering, wins a $57M round led by Portage.
Solar-Powered Connectivity: Ambient Photonics, illuminating the way with low-power solar tech, bags a $30M Series A-2 courtesy of Fine Structure Ventures.
Data Wizardry with AI: Harmonya gathers a cool $20M Series A with Bright Pixel Capital leading the charge.
Financial Innovations: Swiss marvel GenTwo unlocks a $15M Series A, with Point72 Ventures at the helm, reimagining asset securitization.
Legal Data Dynamo: Trellis, shedding light on state trial court data, raises a $15M Series B, spearheaded by Top Tier Capital Partners.
Solar Surge: Okra, a sunlit energy disruptor, secures a $12M Series A led by the visionary One Ventures.
AI-Powered Workplace: Atomicwork clinches an $11M seed round, orchestrated by Blume Ventures and Matrix Partners.
E-Mobility Magic: Munich's e-mobilio drives home with a $10.2M Series A, powered by SET Ventures.
Sky-high Rewards: Point.me, the flight rewards navigator, takes off with a $10M Series A backed by Thayer Ventures.
Aquaculture Avant-Garde: Vi Aqua Therapeutics scoops up $8.3M, led by S2G Ventures, innovating in aquaculture disease prevention.
Data Privacy Vanguard: Integral nets a $6.9M seed round, stewarded by Haystack and The General Partnership.
Carbon Crusaders: Opna rakes in a $6.5M seed fund, backed by Atomico, in a quest for 'net zero'.
Fintech Fever in Vietnam: MFast accelerates with a $6M Series A, driven by Wavemaker Partners.
Climate Tech Charm: Miami's Kind Designs crafts a $5M seed success story, championed by GOVO Venture Partners.
Governance Through AI: Enzai pockets a $4M seed treasure, captained by Cavalry Ventures.
Silicon Innovators: AlixLabs shines with $3.6M funding, backed by a trio of titans: Navigare Ventures, Industrifonden, and FORWARD.one.
Accounting Avengers: Numeral collects a neat $3M seed round, orchestrated by Bienville Capital.
Empowerment Echo: Athena Alliance, uplifting women professionals, bags a $2.5M seed extension courtesy of Leonas Capital and Advisory.
Packaging Panache: Penny Black, redefining packaging from London, wraps up a $1.9M seed round, led by industry stalwart Douglas Franklin of AGFA.
IPO
Silicon Powerhouse Alert! SoftBank Group gears up for a mega IPO, targeting a whopping $4.9B. The move could catapult chip maestro Arm's valuation to an eye-popping $54.5B.
Electrifying the Market: Renault's EV prodigy, Ampere, speeds towards an IPO, revving up potential valuations to an electrifying $10.8B.
Energy Equity Play: Pipeline titan Enbridge is sketching out a strategic $2.9B share sale, aiming to energize its ambitious $9.4B partnership with Dominion Energy.
Chipmaking Charm from Japan: Kokusai Electric, a gem in KKR's crown, prepares for a dazzling debut on the Tokyo Stock Exchange come October. Industry insiders buzz about a potential valuation nearing $2.7B.
SPAC
Innovating Safety: Computed tomography trailblazer ScanTech Identification Beam Systems is locking in a groundbreaking merger with Mars Acquisition Corp. The spotlight's on this strategic play, valued at a robust $150M.
Debt
Mining Giant's Move: BHP digs deep, securing a monumental $4.8B via a quintet of senior unsecured notes transactions. Market watchers are abuzz with the details.
Tobacco Titan's Tactic: Philip Morris International lights up the finance scene, amassing a substantial $2.4B through a triad of bond issuances. Analysts are watching closely.
Dental Dynamo's Deal: Heartland Dental braces for a financial boost, laying out plans to sell an extra set of 10.5% bonds due 2028, to the tune of $100M. Investors are all smiles.
Bankruptcy
Close Call in China: Crisis averted! The beleaguered property giant, Country Garden, treads on thin ice but manages to clear two delayed bond-coupon payments amounting to $22.5M. This timely move has saved the developer from the brink of default. All eyes remain on its next steps.
Fundraising
China's Silicon Ambition: The powerhouse nation unveils a masterstroke - launching a state-endorsed investment juggernaut aiming to muster a staggering $40B. The objective? To supercharge its semiconductor prowess and dominate the tech space.
Southeast Asia's Startup Surge: 500 Global, a renowned early-stage venture sentinel in Southeast Asia, amasses a robust $143M war chest. The mission? To supercharge budding businesses and fortify its foothold in the booming region.
Dutch Light in Deep-Tech: PhotonVentures, the Netherlands' deep-tech luminary, secures a $64M reservoir. This infusion is set to revolutionize the world of photonic chip startups, providing them with the resources to shine bright and scale up.
Athlete-Inspired Investment: Apex, a Portuguese financial powerhouse, crafts a unique play with its $54M Elite Performance Fund. By leveraging the acumen of top-tier athletes, the firm is poised to redefine and expand the horizons of the sports, media, and entertainment realms.