Our senior executive advisors know Silver Lake well and would be happy to help with the right deal. #seaprogram Our record is a letter of intent (LOI) in 24 hours with one of our private equity firms.
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M&A IN PIPELINE 09-15-2018
** AMC Entertainment Holdings Inc said it bought back 24 million shares from its top investor Dalian Wanda Group and issued $600 million worth of convertible notes to private equity firm Silver Lake.
** Kinder Morgan Inc has hired investment bank TD Securities to facilitate a potential sale of its Canadian business, which could fetch the U.S. pipeline operator as much as C$2.4 billion ($1.8 billion), people familiar with the situation told Reuters this week.
** British oil major BP has acquired a 61 percent participating interest in the existing onshore Gobustan PSA (product sharing agreement) in Azerbaijan, BP Azerbaijan.
** German energy group Uniper has mandated investment bank Rothschild to explore a sale of its French assets, a person with direct knowledge of the matter said, under pressure from a planned exit from coal-fired power.
** U.S.-based recreational vehicle maker Thor Industries has emerged as the leading bidder for German family-owned peer Erwin Hymer Group in a deal valuing the company at more than 2 billion euros ($2.34 billion), people close to the matter said.
** German retailer Metro AG plans to sell its struggling Real hypermarkets and is confident of interest in the chain, though bankers played down talk it might attract Amazon and a price tag of up to 1 billion euros ($1.2 billion).
** Exchange operator Nasdaq said it planned to buy Swedish financial technology provider Cinnober in a deal valuing the business at around 1.7 billion crowns ($190 million).
** Australian office owner Investa Office Fund said it would postpone a shareholder meeting regarding a takeover offer from private equity firm Blackstone after receiving a rival bid. (Compiled by Bharath Manjesh and Shanti S Nair in Bengaluru).
PRESS RELEASE AMC
LEAWOOD, Kan.–(BUSINESS WIRE)– AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC” or “the Company”), announced today that it has entered into an agreement with Silver Lake, the global leader in technology investing. Under the agreement, AMC has issued $600 million senior unsecured convertible notes due 2024, bearing interest at 2.95% and convertible into AMC Class A common shares at $20.50 per share, before giving effect to the special dividend announced today. At $20.50 per share, the pre-dividend conversion price reflects a 17.1% premium to the Reference Price. The Convertible Notes were issued September 14, 2018.
A portion of the proceeds from the Convertible Notes has been used to repurchase 24,057,143 AMC Class B Common shares from, Dalian Wanda Group Co., Ltd (“Wanda”), which represents 31.7% of the AMC Class B common shares held by Wanda, at a price of $17.50 per share. Wanda now owns 51,769,784 AMC Class B Common shares.
A portion of the proceeds from the Convertible Notes will also be used to pay a $1.55 per share special dividend on September 28, 2018 to all AMC Class A Common and Class B Common shareholders of record as of September 25, 2018. The remainder of the proceeds will be used for transaction expenses and general corporate purposes.