Banking M&A Digest #154 (9.12.2021)

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Corporate Financier’s Notes by Aivars Jurcans

Done! And Done

Dock, a Brazilian fintech backed by Visa, has acquired Cacao Paycard Solutions, a Mexico-based card processing solutions company.

Source: Bloomberg

MKM Partners, a US equity research and trading boutique, has been acquired by Freedom Holding Corp, an Almaty-based Kazakhstani brokerage, in a cash and stock deal that values MKM at about USD 50 million. 

Source: Bloomberg

Liontrust, a UK asset manager, has agreed to acquire Majedie Asset Management, another boutique, for an initial GBP 80 million plus an additional deferred consideration of up to GBP 40 million. The deal is expected to increase Liontrust’s assets under management by GBP 5.8 billion to more than GBP 42.3 billion.

Source: FT

Eurobank, a Greek lender, has agreed to sell 80% or its merchant acquiring business to Worldline, a French payments firm. The deal is said to value the merchant acquiring unit at EUR 320 million, subject to customary adjustments at completion.

Source: Reuters

Abrdn (formerly known as Standard Life Aberdeen), an asset manager, has agreed to buy Interactive Investor, a UK funds supermarket, for GBP 1.5 billion. 

Source: FT

Apollo Global Management has agreed to buy the US wealth distribution and asset management businesses of Griffin Capital for an undisclosed sum. Griffin’s asset management business has more than USD 5 billion of assets under management.

Source: Reuters

Thanks, But No Deal

Apollo Global Management is said to have abandoned a pursuit of Metro Bank, a British lender. Established in 2010, Metro Bank had a market value of about GBP 3.6 billion at its peak in 2018; it is currently valued at about GBP 173 million.

Source: Bloomberg

Up-and-Comers

WeLab, a Hong Kong fintech, is said to be buying a controlling stake in PT Bank Jasa Jakarta, an Indonesian commercial lender, and will be launching a digital bank in the country.

Source: FT

Exciting Numbers

US markets have hosted 954 IPOs in 2021, while all the exchanges in the EU and UK combined have seen 389, according to Dealogic.

Source: FT

A Thought Worth Noting

“Liquidity and transparency have reached a point where [corporate bond trading] strategies that always made a lot of sense but were too intensive to actually implement now actually become possible.”

David Horowitz, chief executive, Agilon Capital

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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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