M&A

 Mergers & Acquisitions News (M&A)

• Volkswagen is requiring Porsche to take 10% of its diesel engine unit Everllence as Blackstone, EQT, CVC, Advent, Brookfield, Bain Capital, and GIC advance to the second round of bidding for a 51% stake at a potential $9.25B valuation DW

• Oracle's 15% stake in the TikTok US JV is worth ~$2B Reuters

• UK real estate broker Savills agreed to acquire real estate advisory Eastdil Secured at a $1.1B valuation, including debt Bloomberg

• Global building materials giant Holcim agree to buy a cement plant, a ​grinding mill, and a portfolio of other ⁠plants in Colombia from Mexican cement maker Cemex for $485M as Cemex offloads $555M in assets Reuters

• MM PE firm Charlesbank Capital Partners agreed to buy a stake in Canadian secondaries firm Overbay Capital Partners at a $147M valuation Bloomberg

• PE-owned UK hospitality group Azzurri is exploring a sale of the European franchise of hot chicken chain Dave's Hot Chicken Bloomberg

• Insurers Allianz and Sun Life are weighing bids for HSBC Singapore's insurance business Reuters