Banking M&A Digest #159 (20.1.2022)

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Corporate Financier’s Notes by Aivars Jurcans

Dealmaking

Citigroup has agreed to sell its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank, a Singapore lender. The value of the deal was not disclosed, except for the fact that UOB will pay a USD 680 million premium over the net asset value of the businesses.

Source: FT

Coinbase, a cryptocurrency exchange platform, has agreed to acquire FairX, a Chicago-based futures exchange. The financial terms of the deal were not disclosed. 

Source: FT

Rumble, a video platform, has acquired a stake in Parallel Economy, a payment processor. The details of the deal were not disclosed.

Source: Reuters

UniCredit is said to be close to selling Wealthcap, its German real estate investment unit, which could be valued at as much as EUR 150 million.

Source: Bloomberg

Citigroup is said to be in “advanced talks” with Fubon Financial Holding, a Taipei-based group, about a sale of its mainland China consumer business which could be valued at about USD 1.5 billion.

Source: Bloomberg

Up-and-Comers

OpenSea, an NFT marketplace, has acquired Dharma Labs,  a cryptocurrency wallet provider, for an undisclosed amount. OpenSea was valued at USD 13.3 billion earlier this month following its latest funding round.

Source: Bloomberg

Exciting Numbers

The top 20 hedge fund managers made total gains of USD 65.4 billion in 2021, ahead of 2020’s USD 63.5 billion.

Source: FT

A Thought Worth Noting

“You, as a shareholder, as an outsider, are never going to be able to tell the difference between [the bank’s] investment spending and just plain old spending until 3 years later. So you just have to take it on faith.”

Chris Kotowski, analyst, Oppenheimer & Co

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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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