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04 - 09 June 2018
Bayer completes US$ 63 bn acquisition of Monsanto
Pfizer Inc. plans to invest
US$ 600 mn in Biotechnology
AXA to acquire XL Group
for US$ 15 bn
Mercedes-Benz invests US$ 1.1 bn for new car plant in Hungary
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Microsoft to acquire GitHub
for US$ 7.5 bn
Whirlpool India announces JV with Elica
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Microsoft to acquire GitHub for $7.5 billion
Microsoft Corp. announced that it has reached an agreement to acquire GitHub, the world’s leading software development platform where more than 28 million developers learn, share and collaborate to create the future. Together, the two companies will empower developers to achieve more at every stage of the development lifecycle, accelerate enterprise use of GitHub, and bring Microsoft’s developer tools and services to new audiences.
Under the terms of the agreement, Microsoft will acquire GitHub for $7.5 billion in Microsoft stock. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to close by the end of the calendar year.
GitHub will retain its developer-first ethos and will operate independently to provide an open platform for all developers in all industries. Developers will continue to be able to use the programming languages, tools and operating systems of their choice for their projects — and will still be able to deploy their code to any operating system, any cloud and any device.
Microsoft Corporate Vice President Nat Friedman, founder of Xamarin and an open source veteran, will assume the role of GitHub CEO. GitHub’s current CEO, Chris Wanstrath, will become a Microsoft technical fellow, reporting to Executive Vice President Scott Guthrie, to work on strategic software initiatives.
Thoma Bravo completes sale of PowerPlan to Roper Technologies for $1.7 billion
Thoma Bravo, a leading private equity investment firm, announced that it has completed its sale of PowerPlan, the market-leading provider of mission-critical corporate performance management (CPM) software for many of the largest and most complex companies in asset-intensive industries, to Roper Technologies for $1.1 billion.
Thoma Bravo acquired PowerPlan in 2015. During the three-year partnership, Thoma Bravo guided PowerPlan's creation of a next-generation, cloud-based platform, not only strengthening PowerPlan's core value proposition, but also further enabling its expansion into both adjacent vertical markets and international markets outside the U.S. and Canada. Thoma Bravo's approach of working with the company's management resulted in an increase in PowerPlan's valuation, a significant expansion in both recurring revenue and profitability, and an acceleration in organic revenue growth. This was made possible via numerous innovations to the company's product and service offerings that occurred during dramatic market-changing events, including those associated with recent federal tax reform.
E3 Retail to establish a Software Development & Sales Centre in Sligo, Ireland
International Retail Solutions company E3 Retail announced it is to establish a Software Development and Sales Centre in Sligo to support the development and localisation of its retail solutions platform and architecture based on a cloud utility (“pay as you go”) model.
The project is supported by the Government through IDA Ireland, with E3 Retail planning to create 40+ jobs in 5 years. This includes key roles such as Technical Director, Marketing, and a new software development team (senior full stack cloud developers, cloud data storage architects, .net core and Angular 5+ UI developers, QA analysts, DevOps).
The company will initially locate in the Innovation Centre in Sligo IT.
IDA Ireland’s CEO Martin Shanahan said: “This software development project by E3 Retail is a terrific and very welcome investment for Sligo and the North West Region, given IDA Ireland’s strategic objective to win more high value projects for the Region. The 40 jobs being created will be a significant boost to the local economy. It will also act as an important reference seller for Sligo and the region, demonstrating that Tech companies such as E3 Retail and Overstock, who established in 2013, can find the skilled staff they need to base their operations here. I wish Barry and his team every success.”
Pareteum Corporation and Artilium plc announced that they have reached agreement for Pareteum to acquire Artilium. The acquisition values each Artilium share at 19.55 pence and the entire issued and to be issued ordinary share capital of Artilium at approximately $104.7 million.
The transaction has been approved by the Pareteum Directors and all of the independent Artilium Directors (the “Artilium Recommending Directors”). The two companies recognize that the businesses are a natural fit and that Artilium complements and extends Pareteum’s geographic footprint in Europe.
Artilium and Pareteum have since October 2017 benefitted from a strategic alliance entered into with the intention of jointly pursuing new and developed markets, accelerating growth and increasing market penetration for both Artilium and Pareteum. Since announcing the strategic alliance, the Pareteum Directors and Artilium’s Recommending Directors have been incredibly pleased by the way the businesses have successfully collaborated and by their customers’ enthusiasm for the partnership.
Pareteum to acquire Artilium in $104 million transaction
AXA to acquire XL Group for US$ 15 billion
XL Group Ltd, announced that its common shareholders have approved an agreement for AXA to acquire 100% of XL Group.
Total consideration for the planned acquisition would amount to approximately USD 15.3 billion, to be fully paid in cash. Under the terms of the transaction, XL Group shareholders will receive USD 57.60 per share. The transaction is expected to be completed during the second half of 2018 subject to customary closing conditions, including the receipt of required regulatory approvals.
XL Group's Chief Executive Officer, Mike McGavick, said: "We are pleased with our shareholders' vote of confidence in supporting all matters, including the AXA transaction. In AXA we have found a like-minded partner committed to innovation and moving our industry forward. Becoming a part of AXA provides unrivalled opportunity to accelerate our strategy with new strength and dimension. Based on today's vote, it is clear that our shareholders share this same vision and opportunity for XL Group."
YY Inc., a leading live streaming social media platform in China, announced that it has further invested US$272 million in the series D preferred shares of Bigo Inc. (“Bigo”) as the lead investor. YY is an existing shareholder of Bigo and has become its largest shareholder after the series D financing.
Bigo is a fast-growing global video-based social media platform. Headquartered in Singapore, Bigo owns Bigo Live, a leading global live streaming platform excluding China, and Like, a short form video editing and sharing platform. Bigo has created a video-based online community for global young generation users. It has established footprints with a strong presence in emerging markets such as South-Eastern Asia, Southern Asia and the Middle East, paving the way for further global expansion.
YY announces strategic investment in Bigo Inc.
Mercedes-Benz Cars is starting construction of its first “Full-Flex Plant“ in Kecskemét, Hungary, about 90 km in the south of Budapest. Overall, the company is investing one billion euros in the new car plant and creating over 2,500 jobs. The first global “Full-Flex Plant” of Mercedes-Benz Cars is the next step on the road to smart production: It is based on the “Factory 56” principles introduced in February, and is thus digitised consistently, designed for sustainable production and puts the human right at the centre of all activities.
The new car plant in Kecskemét consists of a press shop, a body-in-white shop, a paint shop and an assembly. The plant is highly efficient and has a CO2-neutral energy supply. With the “Full-Flex Plant“, Mercedes-Benz Cars is creating additional capacity and also technical requirements for the flexible production of future vehicles. This includes passenger cars with a wide variety of body and drive variants. Both passenger cars with conventional drive variants and also electric vehicles using the latest technology in automated driving can be produced - under the premise of safety and in compliance with the statutory regulations.
$1.1 billion for new car plant
SF Motors to invest in its Indiana Electricity Vechicle Assembly Plant
SF Motors, a global intelligent electric vehicle company that aims to accelerate the growth of the EV industry at large, announced that including initial acquisition costs it will invest $160 million in the Mishawaka, Indiana facility that was acquired in November 2017. SF Motors has chosen this manufacturing facility for access to a mature supplier network and the highly skilled automotive talent pool, with up to 467 jobs expected to be created by 2020. With this investment, SF Motors pushes forward on its global business strategy and establishes the company as the only pure EV manufacturer with production capabilities in China and the U.S.
The 675,500-square-foot facility, formerly owned by AM General to produce Hummer H2s and Mercedes-Benz R-Class vehicles, will undergo a full renovation and retooling to fully transform the plant before the end of the year. The facility redesign is in preparation for manufacturing SF Motors inaugural vehicles, SF5 and SF7, previewed earlier this year along with battery innovations and proprietary electric powertrain systems at their Silicon Valley headquarters.
Canadian Pacific Railway Limited announced it plans to invest more than a half-billion dollars on new high-capacity grain hopper cars as part of its commitment to the North American agricultural sector. CP grain shippers can expect to see more than 500 of these new cars in service before the end of 2018, enabling CP to transport more grain in each dedicated train.
CP's plans for revitalizing its grain hopper fleet begin with an initial order for 1,000 cars from National Steel Car of Hamilton, Ont. Over the next four years, CP plans to order approximately 5,900 hopper cars in total, enabling a complete removal of all low-capacity hoppers, including all Government of Canada cars, from the fleet. The investment is made possible by changes to the Maximum Revenue Entitlement formula through the passage of the Transportation Modernization Act, Act C-49, which provided CP the certainty needed to place the order. CP will be the first Class 1 railway to receive hoppers as a result of the Act's changes.
CP plans for half billion dollar investment on high-capacity grain railcars
Whirlpool India, a majority-owned subsidiary of Whirlpool Corporation, announced that it has signed an agreement to acquire a 49% equity interest in Elica PB India. The joint venture is in line with Whirlpool India’s strategic priority to expand its cooking and built-in appliance portfolio.
As part of the joint venture, Elica PB India will manufacture and distribute cooking and built-in appliances under the Whirlpool brand in India. Elica PB India is a subsidiary of Elica SpA Italy and has been operating in India since 2010. The parties expect the transaction to close in the second half of 2018. The transaction also includes put and call rights on terms set out in a shareholders agreement.
Pralhad Bhutada, CEO, Elica PB India said, “Elica PB has built a very strong product portfolio and distribution network for the Elica brand. With the addition of Whirlpool brand products, we will be offering two very appealing appliance brands to Indian consumers and we are confident that we can take both these brands to greater heights.”
Whirlpool India announces JV with Elica to expand business
US$ 63 billion acquisition of Monsanto
Bayer successfully completed the acquisition of Monsanto. Shares in the U.S. company will no longer be traded on the New York Stock Exchange, with Bayer now the sole owner of Monsanto Company. Monsanto shareholders are being paid 128 U.S. dollars per share.
This integration process is expected to commence in approximately two months.“This is a great day: for our customers – farmers around the world whom we will be able to help secure and improve their harvests even better; for our shareholders, because this transaction has the potential to create significant value; and for consumers and broader society, because we will be even better placed to help the world’s farmers grow more healthy and affordable food in a sustainable manner. As a leading innovation engine in agriculture, we offer employees around the world attractive jobs and development opportunities,” said Werner Baumann, Chairman of the Bayer Board of Management. “Our sustainability targets are as important to us as our financial targets. We aim to live up to the heightened responsibility that a leadership position in agriculture entails and to deepen our dialogue with society.”
Walmart Inc. and Advent International, one of the largest and most experienced global private equity investors, announced that Advent has agreed to invest in a majority stake in Walmart Brazil to strengthen the business and position it for long-term success. Under the terms of the agreement, Advent will hold 80 percent of Walmart Brazil, and Walmart Inc. will retain the remaining 20 percent upon the completion of the transaction. The transaction is subject to regulatory approval in Brazil.
Advent is a global private equity fund with a strong local presence and extensive experience in retail investment both in Brazil and internationally. Since the opening of its São Paulo office in 1997, the fund has invested in 30 Brazilian companies from various sectors. Advent has been active in the retail, consumer and leisure segments worldwide for 28 years and has completed 75 investments in 22 countries.
Advent International to acquire majority stake in Walmart Brazil
delivery.com, a leading destination for online ordering and on-demand delivery, is expanding its corporate food ordering customer and merchant base with the acquisition of foodjunky's business operations, an early innovator in the corporate and group ordering space.
foodjunky customers will have an easy transition to delivery.com Office, delivery.com's robust offering for businesses, which will allow foodjunky's existing corporate clients and customers to place large and small group orders directly on the delivery.com platform. delivery.com currently serves over two million customers and a growing roster of corporate clients who order from over 12,000 merchants every day.
delivery.com acquires foodjunky's business operations
Bunge opens state-of-the-art wheat mill in Yucatán
Bunge North America, the North American operating arm of Bunge Limited, announced that it has opened its new wheat mill in the southeast region of Mexico.
The Del Mayab mill is located 20 kilometers from Puerto Progresso, a strategic location for serving key customers in southeast Mexico. This site provides logistical advantages since wheat brought in through the nearby port can easily be delivered to the mill and the flour produced can be efficiently exported to other countries in Latin America.
The facility was engineered for the best productivity, quality, safety and environmental performance possible. Its state-of-the-art technology will improve yields, ensure product quality and reduce energy consumption.
The Del Mayab mill will serve the states of Yucatán, Campeche, Quintana Roo, Chiapas and Tabasco. This region is home to 10% of Mexico’s population and is growing faster than any other area of Mexico.
The facility will sell flours in bulk and in bags to serve both large food companies and small bakeries. It employs nearly 50 workers and generates additional economic benefits for the region.
Company prepares to debut its brands in new and emerging markets. Aims to have double the number of rooms in operation by 2021.
Dusit International, one of Thailand’s foremost hotel and property development companies, has announced its plans to open at least 10 new properties over the next 12 months across Bahrain, Bangladesh, Bhutan, China, Philippines, Qatar, Singapore and Vietnam – raising the number of Dusit-branded properties in operation to 37.
The openings are in line with Dusit’s three-pronged strategy for sustainable and profitable growth, which includes balance, expansion and diversification. Following this strategy, the company aims to have more than 14,000 keys in operation across more than 20 countries by 2021. Today, the company operates 27 hotels, representing over 7,000 keys, across nine countries.
Dusit International plans to open 10 new properties in next 12 months
Dusit International, one of Thailand’s foremost hotel and property development companies, has officially made its Vietnam debut with the opening of Dusit Princess Moonrise Beach Resort on the country’s largest island, Phu Quoc.
Operating under Dusit’s upper midscale Dusit Princess brand, the new resort marked its soft opening on 22 May with a special ceremony attended by the property’s owners, Mr Do Van Chanh, Director of Linh Chi Limited Company, and Ms Thu Nguyen, General Director of Linh Chi Limited Company; local government representatives Mr Ngo Hoai Chung, Vice Chairman, Vietnam National Administration of Tourism, and Mr Ngo Trieu Cam, Chairman of Duong To people’s committee; and a team of executives from Dusit International, led by Mr Lim Boon Kwee, Chief Operating Officer.
Comprising 108 well-appointed contemporary guest rooms, most of which offer pristine ocean views, Dusit Princess Moonrise Beach Resort is centrally located on the island’s west coast overlooking the stunning Bai Truong beach, a 20-plus kilometre stretch of sand also known as Long Beach.
Dusit International opening its first hotel in Vietnam: Dusit Princess Moonrise Beach Resort
Hilton Hotels & Resorts announced the opening of Hilton Xiamen. Paying homage to the city’s history, and celebrating its emergence as one of China’s most exciting international commercial hubs, Hilton Xiamen welcomes global travelers to experience all that the city has to offer.
Converted from the previous Crown Plaza Xiamen, Hilton Xiamen provides a seamless connection to local commercial centers, transit hubs, and tourist attractions. It is owned by Paragon Group Co., Ltd and managed by Hilton.
Hilton Xiamen is 10 kilometers away from Xiamen International Airport and 8 kilometers away from Xiamen International Conference and Exhibition Center. It is also close to various tourist attractions and adjacent to a premium shopping mall, Paragon Center, as well as numerous commercial buildings, cinemas, high-end supermarkets and restaurants.
Hilton Hotels & Resorts Debuts in Xiamen,
the Garden On the Sea
DoubleTree by Hilton opens Waterfront Resort in Okinawa, Japan
Hilton announced the opening of DoubleTree by Hilton Okinawa Chatan Resort, the third DoubleTree by Hilton hotel on the island of Okinawa, Japan, which joins Hilton’s 15 operating hotels in the country.
Located in Chatan, central Okinawa, DoubleTree by Hilton Okinawa Chatan Resort is a 40-minute drive from Naha International Airport and offers easy access to major attractions, sightseeing and water activities. Set on Chatan’s waterfront, just steps from the white-sand Sunset Beach and Mihama American Village, DoubleTree by Hilton Okinawa Chatan Resort presents an impressive resort experience amidst an area filled with boutiques and retail outlets, restaurants and cafes, entertainment and family-friendly activities.
Hyatt announced plans to expand the Hyatt Place and Hyatt House brand footprint in Canada with the signing of management and franchise agreements by a Hyatt affiliate for nine Hyatt Place hotel and three Hyatt House hotels. There are currently nine Hyatt-branded hotels open Canada, and the expected openings of these 12 Hyatt Place and Hyatt House hotels would increase Hyatt’s brand presence in the region to 21 hotels within the next few years.
Hyatt Place and Hyatt House
The Hyatt Place and Hyatt House brands are designed to deliver seamless experiences that are authentic, intuitive and modern, allowing business travelers to remain productive and worry free, without skipping a beat. Twelve Hyatt Place and Hyatt House hotels are expected to open in Canada in the next two years, including:'
Hyatt to open twelve Hyatt Place and Hyatt House by 2020 in Canada
IHG expands in Kolkata with signing of Holiday Inn Resort Kolkata NH6
InterContinental Hotels Group (IHG), one of world’s leading hotel companies has announced a partnership with SDB Developers to bring a second Holiday Inn hotel to Kolkata. As part of the agreement, the 110-room Holiday Inn Resort Kolkata NH6 will have 90 rooms operational by the end of 2018, with 20 additional rooms expected to be operational by 2020. The new resort will expand the growing presence of the Holiday Inn brand family in the country.
Sprawling across 12 acres of land in Uluberia, a city that comes under the Kolkata Metropolitan Area, Holiday Inn Resort Kolkata NH6 is strategically located to offer excellent connectivity to central Kolkata. Well suited to cater to leisure, business and MICE guests, the resort will be an hour’s drive from the City Centre and Netaji Subhash Chandra Bose International Airport. The resort will also be well connected to the National Highway and the Orissa Trunk Road.
Pfizer Inc. announced it plans to invest $600 million in biotechnology and other emerging growth companies through Pfizer Ventures, the company’s venture investment vehicle. In addition to increased funding, Pfizer will extend its leadership as a venture capital investor with an expanded team that leverages expertise across venture capital investing, business development, drug discovery and clinical development.
Neuroscience Investment Strategy
Pfizer Ventures will seek to invest approximately 25% of its available capital ($150 million) in promising early-stage neuroscience companies. By leveraging an equity investment model, Pfizer can support a broad array of early neuroscience research and product development opportunities, which are critical in this nascent area of science.
Initial areas of interest for Pfizer Ventures include neuro degeneration, neuro- inflammation and neuro-metabolic disorders, and other areas where rapidly advancing science could lead to breakthroughs for patients.
Six of Pfizer Ventures’ current portfolio company investments focus on breakthrough neuroscience, including Aquinnah, Autifony, Cortexyme, MindImmune, MISSION, and Neuronetics. In addition, Pfizer was instrumental in the creation, funding and launch of the Dementia Discovery Fund (DDF) in 2015.
DDF is a specialist venture capital fund that invests in novel science to create meaningful new medicines for dementia. Since its launch in October 2015, DDF has raised more than $190 million and has made significant progress building an initial portfolio of 12 investments in dementia drug discovery companies and projects. These investments target promising areas of neuroscience research such as microglial biology and inflammation, mitochondrial dynamics, trafficking and membrane biology and synaptic physiology and function.
Pfizer Inc. plans to
invest $600 million in Biotechnology
LifeCare acquires Care First Home Health Care and EverCare Health Services
LifeCare Holdings, LCC (together with its subsidiary LifeCare Health Partners) announced the acquisition of Care First Home Health Care and EverCare Health Services, home health care agencies based in Las Vegas.
Care First is the fourth home health agency to be acquired by LifeCare Holdings, LCC. In 2016, the company acquired Beyond Faith, based in Texas; and in 2015 both Haven Home Health, based in Dallas, Texas; and Complete Home Care, based in Boca Rotan, Florida.
With a long history of providing industry-leading quality outcomes in long-term acute care, LifeCare is making investments in post-acute assets including intermediate skilled nursing, transitional care and behavioral health services.
ACON Investments and Humus Capital acquire Biosidus
ACON Investments announced that affiliates of ACON Latin America Opportunities Fund IV, L.P., in partnership with Humus Capital Partners ("HCP"), a private equity firm based in Argentina, have acquired a majority equity interest in Biosidus S.A. and Biosidus Farma S.A. (collectively, "Biosidus" or the "Company"), Argentina's largest manufacturer and distributor of biosimilar pharmaceuticals with exports worldwide to more than 25 countries across four continents.
ACON and HCP will continue Biosidus' international expansion strategy, building on its track record of more than 150 million doses of biosimilar pharmaceuticals produced over the last two decades. Biosidus' product portfolio comprises some of the most successful biosimilars developed to date with a focus on the treatment of chronic renal failure, cancer, multiple sclerosis, growth hormone deficiency and osteoporosis, among others. The transaction builds on ACON's experience as one of the longest continuous investors in Latin America, having managed over $1.6 billion in investments throughout the region over the last two decades, as well as HCP's proven experience, networks and reputation in Argentina.
Kellogg's Research Labs & Beijing Waste Heat Deal Signed
Kellogg's Research Labs has entered into a collaborative relationship together with a group of Chinese utilities represented by Beijing Waste Heat Utility Company. This relationship will allow KRL to build a large-scale version of the ElectricityFromAir generator for waste heat applications.
Previous applications of EFA generators had revolved around small atmospheric thermal harvesting units for IoT applications and waste heat recovery from small devices. This landmark deal allows the company to begin addressing the vast array of high power waste heat recovery applications.
The goal of this relationship is to install the waste heat recovery system on all 668 power plants. Once the project has reached maturity, the EFA generators will cut CO2 emissions by more than 160 billion pounds per year, helping to put a dent into China's massive pollution problem. This deal represents the largest clean energy project ever undertaken.
ADB supports over $1 billion in Clean Energy Investments in the Pacific until 2021
The Asian Development Bank (ADB) will support over $1 billion in energy investments in the Pacific between 2018–2021, including 19 projects to help countries in the subregion have better access to quality, affordable, and sustainable energy sources, according to a new ADB report.
The Pacific Energy Update 2018 provides a comprehensive overview of ADB’s energy-focused work in the Pacific. The publication highlights the impacts of ADB-supported energy initiatives completed in 2017 and ongoing in 2018, while providing details of ADB’s future plans in the subregion’s energy sector.
“ADB is helping the Pacific region plan for a renewable energy future and improve regional energy systems by promoting energy efficiency and renewable energy; maximizing access to energy for all; and supporting energy sector reform, capacity building, and effective governance,” said ADB’s Transport, Energy, and Natural Resources Division Director for the Pacific Mr. Olly Norojono.
The report highlighted ADB’s efforts and partnership with governments, communities, private sector, and other development partners to help improve the availability and quality of clean and affordable sustainable power in the Pacific region. It also provides a country-by-country snapshot of various energy projects and technical assistance, which Pacific governments have prioritized for ADB assistance.
Cofinanced by ADB, the European Union, and the Government of the Cook Islands, the Cook Islands Renewable Energy Sector Project will help lower the country’s reliance on fossil fuels by building solar-powered plants on five of its islands and help the government achieve its goal of supplying 100% of inhabited islands with renewable energy by 2020.
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