MADRID – Naturgy said on Friday its main shareholders will not tender their shares, although its board considers the 4.9 billion euros ($5.76 billion) bid from the Australian fund IFM to acquire a 22.69% stake in the Spanish energy group to be reasonable. The bid is subject to securing at least 17% in the Spanish energy group, although IFM said in its prospectus filed last week it could decide to lower the minimum threshold to…"Naturgy’s main shareholders not selling, although IFM bid is “reasonable” board says"
MILAN -Italian energy group Eni is working with JP Morgan to sell a minority stake in its power generation unit Enipower to help it fund its shift to a low-carbon business, sources said. Non-binding bids are expected in two to three weeks, one of the sources said, adding the group was looking to sell a stake of around 40%. The second source said infrastructure and investment funds had expressed an interest in the deal but…"Eni working with JP Morgan to sell minority stake in power unit – sources"
JOHANNESBURG – A consortium led by South African investment company Brait Plc has revived plans to exit glass bottle maker Consol Glass, two sources said, possibly via an initial public offering (IPO) three years after a previous failed attempt. The private equity investors took Consol, which describes itself as sub-Saharan Africa’s largest glass manufacturer, private in 2007 for 6.1 billion rand, worth around $1 bln at the time. They pulled the planned 2018 listing in…"Exclusive-Investors launch fresh attempt to exit S.African bottle maker Consol – sources"
SIENA, Italy – Italy’s government expects to find a solution to help ailing bailed-out lender Monte dei Paschi di Siena in “fairly rapid” time, Industry Minister Giancarlo Giorgetti said on the sidelines of an event in Siena. UniCredit, Italy’s second-largest bank, in July entered into exclusive talks with the Treasury to evaluate buying “selected parts” of Monte dei Paschi (MPS), which is 64% owned by the state following a 2017 bailout. Asked about alternatives for…"Italy govt sees “fairly rapid” solution for Monte dei Paschi – industry minister"
LONDON – British clothing retailer Next has struck a deal with Gap Inc, to run the Gap brand’s business in the UK and Ireland as a franchise partner. The deal will allow the U.S. firm to retain a presence in the UK and Ireland having closed its shops in those markets earlier this year. Shares in Next were up 1% at 0842 GMT. Under the plan the two groups will form a joint venture to…"Next to operate Gap brand in Britain"
PARIS – BNP Paribas Fortis said on Friday it sold a 2% stake in pan-European financial markets operator Euronext for 220 million euros ($259.09 million). The Belgian bank sold 2.2 million Euronext shares at 101 euros each in an accelerated book-build offering to institutional investors, the statement said. The sale price represents a discount of around 4% to Thursday’s closing price of 105.30 euros. By 0900 GMT, Euronext shares were down by around 2.8%, underperforming…"BNP Paribas Fortis sells 2% stake in Euronext"
TOKYO -Japan’s Mitsubishi UFJ is considering a sale of its U.S. banking subsidiary MUFG Union Bank, Bloomberg reported on Friday, in a marked strategy shift for Japan’s biggest bank. Mitsubishi UFJ, one of the world’s largest lenders by assets, is working with an adviser to explore options for the subsidiary, Bloomberg said, citing people familiar with the matter. The Japanese lender has had some informal discussions with potential buyers but has not started a formal…"Mitsubishi UFJ considering sale of MUFG Union Bank -Bloomberg"
MADRID – Spanish pharmaceuticals company Grifols has agreed to buy a controlling stake in Biotest and made a bid for the rest of its shares in a deal that would value its German rival at 1.6 billion euros ($1.9 billion). Grifols, which makes drugs based on blood plasma, said on Friday that it had agreed with Hong Kong-based Tiancheng to buy its 90% stake in Biotest for 1.1 billion euros and offered to buy the…"Spain’s Grifols to buy rival Biotest for up to 1.6 billion euros"
LONDON -Martin Sorrell’s S4 Capital has struck a deal to buy Zemoga, a technology services company that provides a new route for the rapidly growing digital advertising group to win work from multinational clients. Sorrell, the founder of WPP, has turned S4 into a $6 billion company in the three years since it launched, by acquiring businesses to combine data with digital content and serve the likes of Facebook, Google, Burberry and Netflix. The move…"Martin Sorrell’s S4 Capital acquires tech services group Zemoga"
– Warburg Pincus LLC is seeking to raise $16 billion from investors for its latest flagship global private equity fund, its biggest ever, according to people familiar with the matter. The New York-based firm is in the early stages of raising Warburg Pincus Global Growth 14, and prospective investors are already looking to make commitments to the fund, said the sources, who requested anonymity because the matter is confidential. A spokesperson for Warburg Pincus declined…"Exclusive-Warburg Pincus seeks $16 billion for private equity fund -sources"