Deals of the day: mergers and acquisitions
ARES•KKR agreed to sell Infinity Transportation to Ares Management for about $2.9 billion. Other reported deals included New Hope’s A$2.4 billion acquisition of Malabar Resources, a A$1.13 billion offer for FleetPartners, and acquisitions involving Steyr Motors, Codifrance and a Romanian shipyard.
1. Railcar and coal deals
KKR said it would sell railcar-leasing company Infinity Transportation to Ares Management for about $2.9 billion. Australian coal miner New Hope said it would acquire unlisted peer Malabar Resources in a deal valued at about A$2.4 billion ($1.67 billion), gaining full ownership of the Maxwell coal mine in New South Wales.
2. Fleet and engine deals
FleetPartners said it had entered a binding agreement to be bought by Pacific Equity Partners-backed SG Fleet in a deal valuing the vehicle leasing firm at A$1.13 billion ($786.71 million). Steyr Motors said US drone maker Red Cat Holdings plans to acquire it in a deal valued at about €204.8 million ($230 million).
3. Retail and shipyard deals
Carrefour said it had agreed to acquire local food retailer Codifrance from Colruyt Group for €152 million ($171 million). Rheinmetall and MSC acquired Romanian shipyard Mangalia for €138 million ($155 million) and aim to develop it for civilian and military shipbuilding.
