Deals of the day: mergers and acquisitions
GRAB•Grab said it would acquire Atome Financial in a deal that could value the provider at up to $4.5 billion. Other reported deals include a $7.7 billion take-private of Baldwin Group and Puig Brands’ €1.20 billion purchase of the remaining stake in ISDIN.
1. Grab targets Atome
Singapore’s Grab said it would acquire buy now, pay later provider Atome Financial in a deal that could ultimately value the target at up to $4.5 billion. The deal would accelerate Grab’s expansion in Southeast Asian consumer lending.
2. Other deals reported
EQT and Norges Bank Investment Management are reportedly launching a joint bid for Acciona Energia, citing a Spanish newspaper report. Dell chief Michael Dell’s DFO Management and Sequence Holdings will take Baldwin Group private in a $7.7 billion deal, the companies said.
3. Further transactions
Puig Brands said it had agreed to buy Esteve’s 50% stake in ISDIN for €1.20 billion ($1.41 billion). Carlyle is acquiring privately owned Canadian oil and gas company Parallax; Guangzhou Automobile Group signed a letter of intent to acquire part of FAW Group’s stake in a vehicle-manufacturing joint venture; and CVC joined JC Flowers on a bid for Aldermore. Sazerac said it completed its acquisition of Au Vodka in a deal valued by a source at more than £300 million ($405 million).
