M and A Navigator: Deal pipeline -10 April.
M2 EQUITYBITES-April 10, 2017-M and A Navigator: Deal pipeline -10 April
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The following is a list of deals covered in detail by M and A Navigator this week:
-EPR PROPERTIES CLOSES USD 455.5M ACQUISITION OF NORTHSTAR CALIFORNIA SKI RESORT, 20 OTHER PROPERTIES
US-based specialty real estate investment trust EPR Properties (NYSE: EPR) has closed a purchase and sale agreement with CNL Lifestyle Properties, Inc. and funds affiliated with Och-Ziff Real Estate, the company said.
This deal was announced last November. The agreement included the company's acquisition of Northstar California Ski Resort, 15 attraction properties (waterparks and amusement parks) and five small family entertainment centres for aggregate consideration valued at approximately USD 455.5m.
Status: Closed
-PINNACLE FINANCIAL OBTAINS REGULATORY APPROVALS TO CLOSE USD 1.9BN ACQUISITION OF NORTH CAROLINA'S BNC BANCORP
Tennessee, US-based bank holding company Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) has received approvals of its applications to merge with North Carolina, US-based bank holding company BNC Bancorp (NASDAQ: BNCN) from the Federal Reserve Bank of Atlanta, the Tennessee Department of Financial Institutions and the North Carolina Office of the Commissioner of Banks, the company said.
Each of the TDFI, NCCOB and the Federal Deposit Insurance Corp. has also approved the proposed merger of Pinnacle Bank and Bank of North Carolina. Accordingly, all banking regulatory approvals required for consummation of the proposed mergers have been received.
Status: Agreed
-TIKEHAU CAPITAL SELLS STAKE IN EQUIPMENT DISTRIBUTOR ECOTEL CHOMETTE FAVOR
French investment firm Tikehau Capital (PAR: TKO) has sold its stake in European hospitality and catering equipment distributor Ecotel Chomette Favor to Naxicap Partners, the firm said.
Tikehau Capital is realising gross pre-tax capital gains of EUR 18.2m (USD 19.36m) from the sale, i.e. 2.8 times its investment after fees and costs. The firm initially invested EUR 10m in E.CF in June 2011 (via Salvepar) alongside the majority shareholder, Weinberg Capital Partners, and the management team led by Thierry Drecq. E.CF distributes small equipment to professionals in the hospitality and catering sectors.
Status: Closed
-HARVEST PARTNERS TO ACQUIRE WORKFORCE SOFTWARE AND SERVICES FIRM PRO UNLIMITED
US-based private equity firm Harvest Partners has agreed to acquire US-based contingent workforce management software and managed services firm PRO Unlimited from Bahrainian alternative investment manager Investcorp, the firms said.
As part of the transaction, Investcorp will re-invest in the company, taking a minority stake in the new capital structure. Financial terms of the transaction were not disclosed. PRO Unlimited is a provider of software and managed services to large enterprises enabling its clients to more effectively manage their contingent workforce.
Status: Agreed
-EUROPEAN COMMISSION CLEARS 21ST CENTURY FOX TO BUY SKY IN USD 14.1BN DEAL
The European Commission has unconditionally cleared US-based media company Twenty-First Century Fox, Inc.'s agreement to acquire all of the outstanding shares in UK-based broadband and media firm Sky plc (LSE: SKY) it does not already own at a price of GBP 10.75 per share payable in cash less the value of any dividends subsequently paid by Sky, the company said
The deal, which was announced last December, would be worth around USD 14.1bn. 21st Century Fox still needs clearance from the UK authorities. Fox said that the Independent directors of Sky have indicated to 21st Century Fox that they are willing to recommend the possible offer, subject to reaching agreement on the other terms and conditions of any offer.
Status: Agreed
-DEKRA ACQUIRES HUNGARIAN ELECTRICAL TRANSMISSION AND DISTRIBUTION EQUIPMENT CERTIFIER
German consulting, testing, and advisory firm Dekra has acquired Hungary-based electrical transmission and distribution equipment certification specialist Hungarian Electric Large Laboratories VEIKI-VNL Kft., the firm said.
In doing so, Dekra is expanding its range of testing and certification services in the power and energy market. VEIKI-VNL specialises in the testing and certification of electrical transmission and distribution equipment.
Status: Closed
-LTS NUTRACEUTICALS FORMS SUBSIDIARY TO ACQUIRE HEALTH AND WELLNESS DIGITAL NETWORK
US-based health and wellness holding company LTS Nutraceuticals Inc. (OTC: LTSN) has...
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