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Carlyle Group Inc. is exploring options for Flender GmbH, a provider of mechanical and electrical drive technology, with a potential exit from the business valued at €3 billion to €4 billion. The private equity firm is considering an initial public offering or sale of Flender, with a deal possibly occurring in the fourth quarter of 2025. Founded in 1899, Flender develops and manufactures drive systems, gearboxes, couplings, and generators, operating in 33 countries with over €2 billion in turnover. [Extracted from the article]

Citadel, a hedge fund founded by Ken Griffin, has hired Nabeel Bhanji from Elliott Investment Management, marking a significant industry defection. Bhanji's departure from Elliott is being managed internally, with Gordon Singer overseeing his trades. Meanwhile, Elliott is promoting Samantha Algaze to become its first female partner and appointing John Pike and Pat Frayne to the firm's management committee. Bhanji, who joined Elliott in 2012, has been instrumental in the firm's investments in various companies and has a background in private equity and investment banking. [Extracted from the article]

The article from Bloomberg.com reports that Nabeel Bhanji, a partner at Elliott Investment Management in London, is leaving the firm after over a decade. His responsibilities will be transitioned to other team members, with Gordon Singer overseeing his trades. Samantha Algaze is being promoted to the firm's first female partner, and John Pike and Pat Frayne are joining the management committee. Elliott is known for its activist investments in companies like Phillips 66 and Salesforce Inc. [Extracted from the article]

Nabeel Bhanji, a partner at Elliott Investment Management in London, is leaving the firm after over a decade. His managerial and investment responsibilities will be transferred to other team members. Elliott is also appointing new partners to its management committee, including its first female partner, Samantha Algaze. The firm is known for its activist investing and has targeted companies like Phillips 66, Goodyear Tire & Rubber Co., and BioMarin Pharmaceutical Inc. [Extracted from the article]

Partners Group Holding AG has chosen Bank of America Corp. and UBS Group AG to arrange a potential IPO for Ammega Group BV, a European conveyor-belt maker. The IPO is tentatively scheduled for late 2025, with plans subject to change and additional banks possibly being involved. Ammega, formed in 2018 through a merger, is one of Partners Group's significant portfolio holdings, with manufacturing facilities producing belts and hoses for various industries. Private equity firms like Partners Group are under pressure to generate returns, leading to a potential increase in IPOs, although uncertainties such as US tariffs could impact Europe's IPO market. [Extracted from the article]

Private equity owners of Stada Arzneimittel AG have chosen bookrunners for a potential IPO, aiming to launch the deal early next year. The consumer health-focused drugmaker could be valued at €10 billion or more in a listing. Bain Capital and Cinven, the current owners, are considering an IPO after negotiations for a sale to GTCR fell through. Stada manufactures and sells various health-care products, including cold and flu treatments and specialty medications. Bain and Cinven acquired Stada in 2017 for €5.3 billion, expanding the business through acquisitions. [Extracted from the article]

The article discusses how returns from direct lenders have been outperforming private equity in recent quarters, but this trend may reverse due to central banks cutting interest rates. Lower interest rates could benefit private equity by making deals easier and reducing pressure on portfolio firms. Despite this, private equity fundraising is expected to decline in 2024, while private credit providers are seeing opportunities in the market. The text also highlights specific deals and job moves within the private credit industry. [Extracted from the article]

Ayvens SA, a French car-leasing business owned by Societe Generale SA, is reportedly attracting interest from investment firms like Blackstone Inc. and others after a decline in its stock value. Potential suitors may include industry players such as JA Mitsui Leasing Ltd. and investment firms like Brookfield Asset Management and CVC Capital Partners Plc. Societe Generale holds a majority stake in Ayvens, and discussions are ongoing about a possible takeover, although no final decisions have been made. The company, previously known as ALD SA, offers full-service vehicle leasing in 42 countries with a fleet of 3.4 million vehicles. [Extracted from the article]

Advent International is considering selling generic drugmaker Zentiva for approximately €5 billion. The business, acquired by Advent in 2018, operates in over 30 countries and has a history dating back to the 15th century. Private equity firms are increasingly investing in generic drugs as pharmaceutical companies focus on rare diseases, with the healthcare industry seeing significant deal activity this year. [Extracted from the article]

Advent International, Apollo Global Management Inc., Clayton Dubilier & Rice, and PAI Partners are reportedly considering acquiring Reckitt Benckiser Group Plc's homecare assets for over £6 billion. Reckitt plans to sell non-core homecare brands and review options for its infant formula business to focus on key products like Strepsils, Mucinex, Gaviscon, Durex, Dettol, and Lysol. The company's recent legal victory in the US may impact its decision-making process regarding the sale of its formula brand Mead Johnson. [Extracted from the article]

Bain Capital and Cinven, the private equity owners of Stada Arzneimittel AG, have enlisted Deutsche Bank and Goldman Sachs to assist in a potential initial public offering (IPO) of the German generic drugmaker. Analyst meetings are scheduled to begin next week in preparation for the IPO, as negotiations for a sale to GTCR have cooled. The decision to pursue an IPO follows a yearlong effort by Bain and Cinven to explore options for Stada, with the potential listing being one of the largest healthcare transactions in Europe in recent years. [Extracted from the article]

German online car-parts dealer Autodoc SE has selected Barclays Plc, Citigroup Inc., Deutsche Bank AG, and Jefferies Financial Group Inc. to lead a potential Frankfurt initial public offering, following a previous unsuccessful attempt. The company's valuation in the IPO may be lower than the €10 billion sought in 2021. Autodoc, which has over seven million active customers and reported €1.3 billion in revenue in 2023, is considering strategic options, including a public listing. Apollo Global Management Inc. acquired a minority stake in Autodoc earlier this year at a valuation of €2.3 billion. [Extracted from the article]

The article from Bloomberg.com reports that Millennium Management is parting ways with merger-arbitrage portfolio manager Laurent Pujade, who specialized in trading corporate events like mergers. Pujade's departure follows a court decision that halted Tapestry Inc.'s planned acquisition of Capri Holdings Ltd., causing Capri's shares to drop significantly. Another portfolio manager, Ed Cooper, is also leaving after a selloff due to regulators not approving a take-private deal. The article highlights the challenges faced by portfolio managers in the current market environment, where betting on the success of proposed deals has become more complex. [Extracted from the article]

JPMorgan Chase & Co. has appointed Rumesh Rajendram as the head of consumer and retail mergers and acquisitions for Europe, the Middle East, and Africa, coming from Deutsche Bank AG. Additionally, Hiten Davda has been named managing director to lead the bank's M&A capital markets efforts in EMEA, previously working in risk arbitrage activities at a hedge fund in London. These appointments follow the recent appointment of Cassander Verwey as co-head of JPMorgan's EMEA mergers and acquisitions business. [Extracted from the article]

BlackRock Inc. is in advanced talks to acquire HPS Investment Partners, aiming to expand its presence in the private credit industry. The potential deal could leave BlackRock with over $500 billion in alternative assets, with HPS seeking a post-IPO valuation of $11 billion. BlackRock's CEO, Larry Fink, has been actively pursuing acquisitions in private markets to cater to the growing demand from various institutional and retail investors. [Extracted from the article]

Colin Bell, departing from his role at HSBC Holdings Plc, will be joining the board of Serendipity Capital in Singapore as an independent non-executive director. The investment firm, valued at $425 million, focuses on areas such as artificial intelligence, quantum computing, and cyber security. Serendipity Capital has seen a net return of 23% since its establishment in late 2019 and has recently welcomed other industry experts to its team. [Extracted from the article]

Colin Bell, departing from his role at HSBC Holdings Plc, will be joining the board of Serendipity Capital, a Singapore-based investment firm, as an independent non-executive director on November 1. The firm, valued at $425 million, focuses on areas such as artificial intelligence, quantum computing, and cyber security, with a net return of 23% since its establishment in late 2019. Serendipity Capital's expanded focus on the UK has led to the appointment of Bell and former BP Plc executive Ruth Cairnie to its board. [Extracted from the article]

Blacklane GmbH, a luxury chauffeuring startup, secured €60 million in funding from investors including Saudi Arabia's Public Investment Fund. The company plans to use the funds to expand its operations in the US, Middle East, and Europe, including launching fleets of electric vehicles in Saudi Arabia and training female and male chauffeurs. Blacklane offers services in over 50 countries and is considering an initial public offering, with Evercore Inc. exploring various options. [Extracted from the article]

Bitpanda GmbH, a cryptocurrency exchange backed by Peter Thiel, is considering options such as an initial public offering in Frankfurt or selling itself. The company, based in Vienna, is working with Citigroup and JPMorgan Chase, with a potential valuation of $4 billion or more. Bitpanda, founded in 2014, offers retail trading in crypto, equity derivatives, and commodities, and expects a record profit in 2024. The decision on a deal is likely to happen next year, with ongoing deliberations and the possibility of no transaction. [Extracted from the article]

The article discusses the intense takeover battle between Sanofi and PAI Partners for the owner of France's top-selling painkiller, which culminated in Sanofi selling its over-the-counter business to US firm Clayton Dubilier & Rice for €16 billion. The deal sparked political discord in France, with concerns raised about job security and drug manufacturing. Despite the drama, CD&R ultimately won the bid by agreeing to protect local jobs and investment, while PAI's unsolicited bid to reverse the decision was met with resistance. The transaction sheds light on the complexities of dealmaking and the political implications of foreign acquisitions in France. [Extracted from the article]

The article discusses the intense takeover battle between Sanofi and PAI Partners for the owner of France's top-selling painkiller, which ultimately led to Sanofi selling its over-the-counter business to US firm Clayton Dubilier & Rice for €16 billion. The deal sparked political discord in France, with concerns raised about job security and drug manufacturing. Despite the drama, CD&R emerged as the winner, securing a cash-generating business with potential for growth. The transaction sheds light on the complexities of dealmaking and the intersection of business and politics in Europe. [Extracted from the article]

Germany's government has chosen Citigroup Inc., Deutsche Bank AG, and UBS Group AG to potentially sell down power company Uniper SE, with the aim of reducing the state's ownership to less than 25% plus one share by 2028. The remaining fraction of Uniper trades on the Frankfurt Stock Exchange, with a market value of €20.5 billion ($22.5 billion). Before a share offering, Uniper is looking to sell assets, including coal procurement contracts, to improve its valuation. The European Commission mandated Germany to reduce its stake in Uniper following a bailout, with UBS and Roland Berger advising on the process. [Extracted from the article]

Carlyle Group Inc. has withdrawn from the bidding process to acquire Thyssenkrupp AG's naval shipbuilding unit, dealing a blow to the German company's restructuring efforts. The potential sale of the Marine Systems business, valued at about €1.5 billion, would have been a significant development for Thyssenkrupp CEO Miguel Ángel López Borrego. Thyssenkrupp is exploring options to make the unit more independent, such as through a sale, spinoff, or initial public offering, but Carlyle's exit has posed a setback to these plans. The company remains optimistic about the naval business's potential for growth and consolidation in the industry. [Extracted from the article]

Triton, a buyout firm, is considering options for its plastic container business IFCO, which could be valued at around €5 billion ($5.4 billion). The firm may seek advisers to explore exit strategies such as a partial or full sale, or even a potential listing of IFCO, with a decision likely to be made next year. IFCO manufactures reusable containers for perishable products and is a major supplier globally, serving over 550 retailers in more than 50 countries. This move by Triton coincides with a period of increased buyout activity, driven by stable interest rates and renewed bank financing for transactions. [Extracted from the article]

A consortium led by Neuberger Berman is acquiring a stake in Nord Anglia, an international school operator, at a value of $14.5 billion, including debt. Existing shareholders, such as EQT AB and Canada Pension Plan Investment Board, are reinvesting in the company. Nord Anglia, founded in 1972, operates over 80 schools across 33 countries, offering education from kindergarten to secondary school. Private equity deals in the education sector have been active, with other investors like Brookfield Asset Management also making investments in private school operators. [Extracted from the article]

PAI Partners has increased its offer for Sanofi's consumer health business by €200 million and committed to maintaining key operations in France, including job retention through a €60 million investment over five years. The private equity firm is collaborating with sovereign wealth funds on the bid, with the improved offer valid until Sunday. Sanofi is in talks to sell a 50% stake in Opella to Clayton Dubilier & Rice, with the French government closely monitoring the transaction due to concerns about over-the-counter medication sales. Finance Minister Antoine Armand emphasized the government's intention to ensure precise commitments and may consider taking a stake in the deal. [Extracted from the article]

Goldman Sachs Group Inc.'s investment arm, a major shareholder in Northvolt AB, is in discussions to assist in rescuing the financially struggling battery maker. Northvolt has been facing a liquidity crisis and is seeking a cash infusion to continue operations. Various stakeholders, including Volkswagen and government entities, are considering ways to support Northvolt, with the hope of securing around €200 million to address immediate financial needs. Despite challenges, officials in Sweden and Germany are optimistic about finding a solution to Northvolt's financial difficulties. [Extracted from the article]

Partners Group Holding AG is considering strategic options for Ammega Group, a European conveyor-belt manufacturer, which may include an initial public offering valued at about 4 billion Swiss francs. Ammega was created in 2018 through the merger of Megadyne Group and Ammeraal Beltech, and has over 20 manufacturing facilities. While Partners Group-backed companies have recently seen success in IPOs, including KinderCare Learning Cos., the decision to pursue an IPO for Ammega is still in the preliminary stages. [Extracted from the article]

EQT AB, a major European investment firm, has chosen not to participate in the private credit trend that has been sweeping the asset management industry. CEO Christian Sinding emphasized the firm's focus on active ownership rather than commoditized credit strategies. While other firms like Blackstone Inc. are expanding into private credit, EQT remains committed to its core strategies such as infrastructure and private wealth. The firm is also exploring opportunities in liquidity solutions and secondaries to enhance monetization of portfolio companies. [Extracted from the article]

Shein, an online fashion retailer, is considering a potential initial public offering in London that could value the company at £50 billion ($65 billion). Barclays Plc and UBS Group AG have been selected as bookrunners for the IPO, which may occur as early as next year. Shein's decision to list in London follows a failed attempt to list in the US, and the company's success has drawn competition from other major players in the industry. The possible IPO could help boost London's stock market after recent losses, and all companies listing in London will face scrutiny over workers' rights, according to UK Prime Minister Keir Starmer. [Extracted from the article]

General Atlantic is set to acquire a minority stake in US treasury-management software provider Kyriba Corp from Bridgepoint Group Plc, valuing the San Diego-based company at over $3 billion. Bridgepoint will reinvest in Kyriba and retain its majority ownership. Kyriba offers services to corporate finance executives worldwide, assisting in managing foreign exchange processes, enhancing financial controls, and mitigating fraud risks through automation. Notable clients of Kyriba include Spotify Technology SA, Societe Generale SA, and Warner Bros. Discovery Inc. [Extracted from the article]

Clayton Dubilier & Rice (CD&R) is addressing political concerns by developing a set of commitments to alleviate worries that its acquisition of a majority stake in Sanofi's consumer health business could harm French interests. CD&R is discussing guarantees to protect Opella's operations in France, including job security and local manufacturing plants. The firm is also considering the French government's request to maintain the consumer health unit's headquarters in France. The French government is closely scrutinizing the potential transaction due to the popularity of Opella's over-the-counter medications in the country. Finance Minister Antoine Armand has stated that the government's demands will be specific and may involve sanctions and the possibility of state-owned investment firm Bpifrance SACA taking a stake. CD&R and Sanofi are currently in talks regarding the potential package. [Extracted from the article]

JFrog Ltd., a technology company that develops software tools for developers, has received preliminary takeover interest from potential buyers, including private equity firms Permira and Hellman & Friedman. However, it is uncertain whether these considerations will result in a transaction. JFrog's shares rose after the news, closing at $31.05 in New York trading. The company, co-founded in 2008 by Shlomi Ben Haim, helps large enterprises efficiently handle software development and deployment. JFrog recently lowered its guidance for fiscal 2024 due to a challenging macro environment. [Extracted from the article]

Private equity firm Apax Partners has announced that it will no longer be making new investments in the healthcare industry due to a decrease in opportunities. As a result, the firm will disband its dedicated healthcare team and reassign most of its members to other roles. The remaining healthcare portfolio companies will continue to be managed by the broader team, while Apax will shift its focus to investing in "healthcare-adjacent" businesses. The firm will now exclusively focus on the technology, services, and internet consumer sectors. [Extracted from the article]

Nordic Capital, a private equity firm, is considering options for Swedish digital payments company Trustly Group AB, including a potential sale or initial public offering (IPO). The divestment strategy for Trustly, which could be valued at around $10 billion, is still in the preliminary stages, and a transaction is unlikely to occur before next year. Trustly operates a global open banking payments network that connects merchants with consumers and banks in over 33 countries, processing over $42 billion in annualized transaction volume. Nordic Capital acquired Trustly in 2018 and has since gained minority shareholders. [Extracted from the article]

Clayton Dubilier & Rice (CD&R) is close to finalizing a deal to acquire Sanofi's consumer health unit for approximately €15 billion ($16.4 billion), making it one of the largest European transactions this year. CD&R has reportedly outbid rival PAI Partners for the Opella unit. Sanofi is expected to retain a minority stake in the Opella business, which sells over-the-counter products. The deal would mark the culmination of Sanofi's year-long effort to split its consumer health business and focus on cutting-edge therapies, while also signaling a revival in healthcare dealmaking in Europe. CD&R, a private equity firm, has been an active investor in France and has a diverse portfolio across various sectors. [Extracted from the article]

Stada Arzneimittel AG's private equity owners, Bain Capital and Cinven, are considering expanding the bank lineup for a potential initial public offering (IPO) of the German generic drugmaker. They have invited banks to pitch for additional roles, including as bookrunners, for a listing of Stada. While negotiations for a sale to buyout firm GTCR are ongoing, there is a discrepancy over valuation. It is unclear whether Bain and Cinven will pursue a sale or IPO of Stada. A sale or listing of Stada would be one of the biggest healthcare transactions in Europe in 2024. [Extracted from the article]

Swedish online pharmacy Apotea AB is reportedly considering an initial public offering (IPO) in Sweden, with the potential to raise $200 million to $300 million. The company is working with advisers, including Carnegie Bank A/S, on the preparations for the IPO. European IPOs have been on the rise this year, with companies in the region raising over $18 billion through first-time share sales. Apotea, founded in 2011, is one of Sweden's largest online pharmacies, offering a range of products and medical advice. [Extracted from the article]

Spanish bakery firm Europastry SA has decided to halt its planned initial public offering (IPO) due to the impact of the international geopolitical situation on markets. The company will continue to assess the possibility of a listing when the market situation improves. This is the second time Europastry has called off an IPO, with the previous attempt being canceled in June due to volatility caused by EU parliamentary elections. The latest proposed offering had received enough orders to cover the shares offered, and it would have raised around €210 million ($235 million) from the sale of new shares and €295 million from shares sold by existing stakeholders. Europastry's decision is also a setback for Spain, which had recently hosted the biggest listing this year in May. Other mid-cap companies in Europe have also faced challenges in going public this year. [Extracted from the article]

Continental AG has enlisted the help of Goldman Sachs and JPMorgan to assist with the separation of its struggling car parts business, despite recent recalls related to faulty braking systems. The German company is considering a spinoff and listing of the unit, which accounts for roughly half of its group sales. The automotive business has been facing challenges due to significant investment requirements and declining demand, particularly in China. Continental's automotive business could be valued at approximately €4.3 billion. [Extracted from the article]

Germany's government has chosen Citigroup, Deutsche Bank, and UBS as joint global coordinators for a potential selldown of power company Uniper SE. The German state currently owns over 99% of Uniper after bailing out the company following Russia's invasion of Ukraine in 2022. The European Commission has required Germany to reduce its stake in Uniper to no more than 25% plus one share by the end of 2028. Before a share offering, Uniper is attempting to sell some assets, including coal procurement contracts. [Extracted from the article]

Spanish bakery firm Europastry SA has postponed its initial public offering (IPO) for the second time this year. The company had been considering reducing the size of the IPO. The deal had received enough orders to cover the shares offered, but Europastry decided to postpone the IPO. This is a setback for Spain, which had recently hosted a successful IPO. Other mid-cap companies in Europe have also struggled to go public this year. [Extracted from the article]

German online car-parts dealer Autodoc has reached out to banks to discuss a potential initial public offering (IPO) in Frankfurt, three years after its previous attempt. The company's valuation in the IPO could be lower than the €10 billion it sought in 2021. While discussions are ongoing and details may change, Autodoc is considering a public listing as one of its preferred options. Autodoc sells auto parts across Europe through its online platform and has over seven million active customers. It reported €1.3 billion in revenue in 2023 and has a minority stake from Apollo Global Management Inc. [Extracted from the article]

Johnson Controls International Plc is beginning the process of selling its ADT alarms business, which is estimated to be worth around $2 billion. The company is working with Citigroup Inc. to gauge interest from potential buyers, including buyout firms such as Advent International, Bain Capital, CVC Capital Partners Plc, and Triton. However, it is still in the early stages, and Johnson Controls may choose to keep the assets instead. ADT, which has been in operation since 1874, manufactures security and monitoring systems for households. Johnson Controls has been restructuring its portfolio to focus on commercial building systems. [Extracted from the article]

Basic-Fit NV shareholder Buckley Capital Management is urging the Dutch fitness-center chain operator to put itself up for sale, claiming that the stock is undervalued. The investor believes that the fair value of the company should be between €40 and €50 a share, double its current value. While Basic-Fit does not necessarily need fresh funds, it could attract interest from private equity suitors if it were to initiate a formal sale process. The stock rose after Buckley Capital's statement, and other large shareholders are reportedly in support of a strategic review. [Extracted from the article]

The Ontario Municipal Employees Retirement System (Omers) will no longer make direct private equity investments in Europe as it restructures its operations in the region. Instead, Omers plans to invest alongside partners and third-party managers. This decision comes as Jonathan Mussellwhite, who led private equity in Europe, left Omers earlier this month. The pension fund's private equity portfolio will be split, with Michael Block leading the global funds strategy and Eric Haley overseeing the North American buyout program. Omers had net assets of C$133.6 billion at the end of June and previously withdrew its venture capital arm from Europe. Private equity dealmaking in Europe has been slow due to disagreements on valuations. [Extracted from the article]