Canadian dairy company Saputo Inc was one step ahead of clinching the win to take over Warrnambool Cheese and Butter Factory Co Holdings Ltd, when the former's revised bid received the recommendation of the latter's board of directors.
Hospitality/Food
Majority shareholder seen as hurdle to yeo Hipa Seng's takeover - analysts
Potential investors would be having difficulty acquiring a majority ownership stake in beverage company Yeo Hiap Seng Ltd due to the Ng family, who had a controlling interest in Yeo's via Far East Organization.
Ontario Teachers' Pension Plan buys Burton's Biscuit Co.
Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, said it would be buying British Burton's Biscuit Co. for an unspecified amount from the Canadian Imperial Bank of Commerce and affiliates of Apollo Global Management.
Frutarom enters agreement to acquire 75% of PTI for USD50.3 million
Terms of Frutarom Industries' definitive agreement to acquire Protein Technologies Ingredients (PTI) included an option to acquire the remaining 25% interest from minority shareholders in the next three years.
Duxton buys farm stake in New Zealand
Singapore-based fund manager Duxton Asset Management purchased a 50% in seven cattle and sheep farms in Otago, New Zealand, and is looking for further investments in the country.
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American investment firm Apollo Global Management LLC raised USD3.9 billion to buy distressed European assets. Specifically, the private equity firm is hunting for hotels and resorts in Spain.
Multinational hospitality company Hilton Worldwide was expected to begin marketing a USD3.5 billion collateralized mortgage-backed security this week. This is the biggest CMBS offering since the global crisis.
Mexico-based food conglomerate Sigma Alimentos announced it plan to take over Spain's meat processing company Campofrio after it agreed to buy 40% of of the Spanish company from its current shareholders.
Paris-based restaurant directory 1001 Menus received USD1.8 million in a Series A funding round led by Elaia Partners to be used for the company's expansion in Europe.
California-based seaweed chip company New Frontier Foods Inc. bagged USD1.7 million in its first seed funding round from executives at top corporations and other investors.
St. Louis-based agricultural data company Monsanto Co. finalized the acquisition of weather forecast and insurance firm The Climate Corp. in a deal that was valued at USD930 million.
US hotel chain Extended Stay America raised USD565 million in an initial public offering. 4.24 million shares remain in overallotment, which could further raise proceeds to USD649.75 million.
Warrnambool Cheese and Butter Factory is now the subject of a three way battle as bidders Bega Cheese, Saputo and Murray Goulburn all seek to be the owner of the manufacturer of brands such as Sungold Milk and Great Ocean cheese.
Hotel chain Extended Stay America Inc raised $566 million after its initial public offering was priced at $20 per share, the mid-point of its expected range.
