Banking M&A Digest #152 (25.11.2021)

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Corporate Financier’s Notes by Aivars Jurcans

Done! And Done

Cowen, a New York-based financial services firm, has agreed to buy Portico Capital Advisors, an advisory firm focused on dealmaking in the software industry. The size of the deal was not disclosed, but would comprise 75% in cash 25% in stock. 

Source: Reuters

VTB, a Russian lender, has sold a 4.9% stake in Magnit, a Russian food retailer. 

Source: Reuters

MONETA Money Bank, a Czech lender, has agreed a reworked USD 1.16 billion deal to buy Air Bank. 

Source: Reuters

Deals On The Table

Gruppo De Agostini, an Italian publisher, is said to have started a process to sell its 1.44% stake in Generali, an insurance company. 

Source: Reuters

Advent International and Centerbridge Partners are said to have made a joint takeover offer for Aareal Bank, a German lender specialised in real estate lending, that values the bank at EUR 1.9 billion.

Source: Reuters, FT

Assicurazioni Generali is said to be in “early talks” to acquire La Medicale, a subsidiary of Credit Agricole. The firm which offers insurance products to healthcare professionals may be valued at around EUR 400 million.

Source: Bloomberg

Binance, a cryptocurrency exchange, is said to be in talks with sovereign wealth funds about them taking a stake. The platform is said to be recording daily transaction volumes of USD 170 billion.

Source: FT

SVB Leerink, an investment banking arm of SVB Financial Group, is said to be in talks to acquire MoffettNathanson, a New York-based equities research firm.

Source: Bloomberg

Thanks, But No Deal

Carlyle, a private equity group, is said to have pulled out of talks to buy Metro Bank, a UK lender.

Source: FT

Metrics To Watch

Julius Baer, a Swiss bank, is being valued at 3.5x times its tangible book value.

Source: FT

Up-and-Comers

Freetrade, a UK fintech, is said to be seeking a GBP 650 million valuation in a fresh round of crowdfunding. The company expects to reach revenue of GBP 15 million in 2021, up from GBP 3 million a year ago.

Source: FT

Coda Payments, a Singapore-based online payments processing company, is said to be considering a sale or an initial public offering. The company is seeking a valuation of at least USD 4 billion.

Source: Bloomberg

Bitdeer Technologies, a crypto mining platform, is said to be planning to go public by merging with Blue Safari Group Acquisition Corp, a blanc-cheque company, in a deal valuing the platform at USD 4 billion.

Source: Reuters

Exciting Numbers

Assets in European exchange traded products and mutual funds with cryptocurrency exposure have topped EUR 10.5 billion, according to Morningstar data.

Source: FT

A Thought Worth Noting

“The banks are spending USD 20 billion a year to run the compliance regime … and we are seizing 1% of criminal assets every year in Europe.”

Rob Wainwright, former head, Europol

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Aivars Jurcans has more than 20 years of corporate finance and investment banking experience. His services are currently available through MURINUS ADVISERS.

Design by Artis Briedis, Photo by Joe Taylor on Unsplash

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