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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
September 23, 2013, 2:04 PM ET

CapMan has sold Nice Entertainment Group, a pan-Nordic TV content production company, to Sweden’s Modern Times Group MTG AB for €84.4 million. www.capman.se

Mitsubishi UFJ Trust and Banking Corp. has completed its previously-announced acquisition ofButterfield Fulcrum, a Bermuda–based alternative fund administrator, from BV Investment Partners. No financial terms were disclosed. www.bfgl.com

Montagu Private Equity has hired Goldman Sachs to find a buyer for Polish telecom companyEmiTel, a Polish operator of radio and TV broadcast infrastructure, according to LBO Wire.www.emitel.pl

Sverica International has agreed to sell Pivot Data Centres Inc., a provider of co-location data center solutions in western Canada, to Rogers Communications (NYSE: RCI) for C$155 million.www.pivotdci.com

Finmeccanica (BIT: FNC) said that it is in advanced talks to sell gas turbine business AnsaldoEnergia to South Korea’s Doosan Heavy Industries. The state-backed Italian conglomerate also said that it is in talks with other foreign buyers for its train-making (AnsaldoBreda) and rail technology (AnsaldoSTS) units. www.finmeccanica.it

Massimo Moratti
 is in talks to sell up to a 75% stake in Italian soccer club F.C. Internazionale(a.k.a. Inter Milan) to Erick Thohir for approximately €300 million, according to various media reports.

RainDance Technologies Inc.
, a Lexington, Mass.-based developer of microdroplet-based solutions for single molecule and single cell analysis, has $35 million in debt financing from Capital Royalty Partners. This follows a recent $20 million Series E equity round from Myriad Genetics Inc. (Nasdaq: MYGN), Mohr Davidow Ventures, Quaker BioVentures, Alloy Ventures, Acadia Woods Partners and Sectoral Asset Management. www.raindancetech.com

Starboard Value has dropped its opposition to the proposed $4.7 billion acquisition of U.S. pork producer Smithfield Foods (NYSE: SFD)by China’s Shuanghui International, after failing to put together a rival offer. In July, Starboard had hired Moelis & Co. and BDA Advisors to find possible alternatives. www.smithfieldfoods.com

Babylon Ltd., an Israel-based developer of translation software and provider of Internet search services, has withdrawn registration for a $115 million IPO, because it is “currently pursuing a potential strategic transaction.” The company already trades on the Tel Aviv Stock Exchange, and had been planning to also list its shares on the NYSE. Shareholders include Reed Elsevier Ventures (18.3% stake), Phoenix Group (10.5%) and Clal Insurance (7.7%). www.babylon.com

Cheniere Energy Partners LP Holdings
, a Houston-based company that holds a 55.9% limited partner interest in Cheniere Partners (NYSE: CQP), has filed for a $690 million IPO. It plans to trade on the NYSE under ticker symbol CQH, with Goldman Sachs and Morgan Stanley serving as lead underwriters.

Potbelly Corp., a Chicago-based sandwich chain, has set its IPO terms to 7.5 million shares being offered at between $9 and $11 per share. It would have an initial market cap of approximately $280 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol PBPB, with BoA Merrill Lynch and Goldman Sachs serving as lead underwriters. It reports $2.8 million of net income on $147 million in revenue for the 26 weeks ending June 30. Shareholders include Maveron Equity (28.2% pre-IPO stake), American Securities (12.9%), Oak Investment Partners (12.2%), Oxford Capital Group (7.9%) and Benchmark (7.7%). www.potbelly.com

Univision Communications has begun speaking with banks about an IPO in the second half of 2014, according to Reuters. The Spanish-language broadcaster was taken private in early 2007 for $12.3 billion by Madison Dearborn Partners, Providence Equity Partners, TPG Capital and Thomas H. Lee Partners. www.univision.com

Veracyte Inc.
, a South San Francisco-based molecular cytology company, has filed for a $74.75 million IPO. It plans to trade on the Nasdaq under ticker symbol VCYT, with Morgan Stanley serving as lead underwriter. The company has raised more than $50 million in VC funding from Versant Ventures (22.62% pre-IPO stake), Kleiner Perkins Caufield & Byers (22.22%), TPG Biotech Partners (22.22%), Domain Associates (19.31%) and GE Ventures. www.veracyte.com

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By Dan Primack
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