Deals of the day: Mergers and acquisitions
GFI•Volkswagen plans to deepen its partnership with Gotion and sell a 5.3% stake in the battery maker. Northern Star rejected Gold Fields’ A$38.7 billion takeover proposal, while other reported deals involved ports, digital printing and private equity.
1. Deals reported
Volkswagen said it would deepen its partnership with Gotion and accelerate development of a European battery supply chain through joint ventures, while separately agreeing to sell a 5.3% equity stake in the Chinese battery maker. Australia’s Northern Star Resources rejected an unsolicited A$38.7 billion ($27.1 billion) takeover proposal from South Africa’s Gold Fields.
2. Other transactions
A.P. Moller Capital agreed to acquire a majority stake in European ports operator Euroports. Agfa will combine its digital printing unit with Siris’ industrial inkjet maker EFI to form a jointly owned global business. Temasek bought a 9% minority stake in the management company of Milan-based private equity group FSI and committed additional capital for future investments.
