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Anthem is to acquire all outstanding shares of Cigna in a cash and stock transaction. Cigna shareholders will receive USD103.40 in cash and 0.5152 Anthem common shares for each Cigna common share.
The total per share consideration equates to approximately USD188.00 for each Cigna share based on Anthem's closing share price on May 28, 2015, valuing the transaction at USD54.2 billion on an enterprise basis.
The combined company will be an industry leader with enhanced diversification and capabilities to advance the transformation of health care delivery for consumers. Following the transaction, Anthem will have more than USD115 billion in pro
Ares Management and Kayne Anderson Capital Advisors are to merge to form Ares Kayne Management, a diversified alternative asset manager with a combined USD113 billion of assets under management as of 31 March, 2015.
Under the terms of the agreement, Ares will provide USD2.55 billion in consideration, the majority of which will be in the form of Ares Operating Group Units. The transaction is expected to close on or around January 1, 2016, subject to customary regulatory approvals, Kayne Anderson investor consents and other closing conditions.
Ares Kayne combines Ares Management, a leading global alternative asset manager with USD87 billion
Madison Capital Funding, a middle-market focused company providing financing solutions to private equity clients, has appointed Jon Leisinger as a director and head of Mezzanine Credit.
Leisinger will be responsible for the management of Madison Capital’s mezzanine capabilities.
Leisinger joins Madison Capital from Sankaty Advisors, the credit affiliate of Bain Capital, where he was an executive vice president responsible for mezzanine deal origination, credit evaluation, execution and portfolio management. Leisinger received his BBA in Finance from the University of Notre Dame.
“We are pleased to welcome Jon to Madison Capital,” says Hugh Wade, Madison Capital Funding’s co-founder and CEO. “His
Mid-market private equity firm LDC has hired three senior corporate finance professionals to its UK-wide direct origination team as it gears up to invest GBP1.2 billion of equity over the next three years.
Jimmy Morris, previously with Grant Thornton’s advisory business, joins LDC’s London team. His experience includes senior business development roles at 3i Group and Directorbank Group, the executive search and selection firm.
Gillian Sharman joins LDC’s Manchester office, following roles with advisory firms BDO LLP, Altium and Zeus, and Zara Lane joins LDC’s Leeds office from Grant Thornton.
The expansion creates a six-strong deal origination team
Aequitas Capital has made an investment in Independence Bancshares, a bank holding company that is building innovative technology to advance the digital payment ecosystem.
"Our private equity group is focused on investing in financial technology oriented companies and we are enthused to make an investment in nD bancgroup," says William Ruh (pictured), Managing Principal of Private Equity, Aequitas Capital. "nD bancgroup is a digital-banking and payments innovator with a strong management team that is positioned to disrupt the payments space."
The investment is part of the USD8,425,000 funding recently raised by nD bancgroup. The capital will be used to expand
Funds advised by CVC Capital Partners are to acquire PKPE Energetyka (PKPE), the energy unit of the Polish National Railways (PKP) in a transaction that puts an enterprise value on the business of PLN1,965 million (approximately EUR477m).
PKP Energetyka is a cross-country electricity distributor to the Polish railway network and to other customers. It also provides nationwide maintenance and emergency response services to the railway network, operates fuel stations for diesel locomotives and is active in electricity and gas reselling.
CVC has a track record of successfully investing in regulated industries and major strategic assets across Europe such as
The Home Depot is to acquire Jacksonville, Florida-based Interline Brands, a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products.
Under the terms of the agreement, The Home Depot will acquire Interline for USD1.625 billion in cash, subject to customary adjustments. The acquisition, which has been approved by the shareholders of Interline, is expected to be completed during The Home Depot's fiscal third quarter, which ends on 1 November, 2015. The deal is subject to applicable regulatory approval and other customary closing conditions.
The transaction is expected to be accretive to The Home Depot's earnings in
PrivateEuity.biz, Israel’s first online secondary trading arena, has signed a series of agreements with senior employees who own shares in high-tech companies, including leading pre-IPO Israeli and North American start-ups.
Following the agreements, which have been signed during the past few weeks, shares held by 14 employees at US, Canadian, and Israeli high-tech companies are currently being presented for sale on the PrivateEuity.biz trading arena.
The North American companies whose employees are presenting shares for sale include Jumio (United States), shares of which are also available on US platform SharesPost; DoubleVerify (United States); and QuickMobile (Canada). The Israeli companies
KKR and Borealis Maritime have acquired Hanseatic Ship Asset Management, a 100 per cent owned subsidiary of Commerzbank AG controlling a modern fleet of 18 container and dry cargo vessels, in a USD254.5 million deal through a joint venture vehicle established by the two firms.
Hanseatic Ship Asset Management (HSAM) was established in Hamburg by Commerzbank AG in 2013 as part of a strategy to efficiently reduce their loan exposure to the shipping industry. Vessels with good market prospects and highly desirable specifications were taken over by Commerzbank in restructuring non-performing lending engagements. As a result, HSAM acquired a modern
Crescent Capital Group’s Crescent European Specialty Lending strategy has co-led the financing for Exponent Private Equity’s acquisition of The BBI Group, a Cardiff, UK-based company specialising in products and technologies in the diagnostics, healthcare, research, defence and food industries, from Waltham, Massachusetts-based Alere, Inc.
EQT Credit and Babson Capital also provided funding for the transaction.
“We are pleased to support Exponent’s acquisition of BBI, one of the UK’s leading and longest-serving companies in the global diagnostics industry,” says Christine Vanden Beukel (pictured), Managing Director and head of Crescent’s European Specialty Lending strategy. “Our European Lending Strategy continues to meet the
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