Bill Gateshas acquired a 6% stake in listed Spanish construction company FCC for €113.5 million. FCC shares surged 13% on the news, to hit an 18-month high. www.fcc.es
Berkshire Hathaway has cut its stake in global grocery retailer Tesco PLC (LSE: TSCO) by approximately 20%, or £300 million. www.tescoplc.com
Devon Energy Corp. (NYSE: DVN) and Crosstex Energy Inc. (Nasdaq: XTXI) have agreed to combine Devon’s midstream assets with Crosstex’s assets to form a new midstream company that would consist of two publicly-traded vehicles: One master limited partnership, and a GP that controls the MLP. Devon would control them both, and said it will contribute $4.8 billion in assets.www.devonenergy.com
Reckitt Benckiser (LSE: RB) said that it is reviewing strategic options for its pharmaceutical business, which reportedly could generate around £2 billion. www.reckittbenckiser.com
GCP Capital Partners has sold Travel Entertainment Group Equity Ltd., a London-based provider of entertainment solutions to the airline and cruise ship industries, to Global Eagle Entertainment Inc. (Nasdaq: ENT). The deal was valued at approximately $36 million. Harris Williams & Co. managed the process. www.globaleagleent.com
Water Street Healthcare Partners has sold PLUS Diagnostics, a Union, N.J.–based anatomic pathology company, to Miraca Life Sciences, a unit of Miraca Holdings Inc. (Tokyo: 4544). No financial terms were disclosed. www.plusdx.net
Avianca Holdings, a Latin American airline based in Panama, has set its IPO terms to around 27.23 million shares being offered at between $17and $20 per share. It plans to trade on the NYSE under ticker symbol AVH, and to continue trading on the Colombian Stock Exchange under symbol PFAVH. J.P. Morgan and Citigroup are serving as lead underwriters.www.aviancataca.com
Burson Auto Parts, an Australian auto parts and accessories maker owned by Quadrant Private Equity, has picked Morgan Stanley and UBS to lead an IPO, according to Dow Jones.www.burson.com.au
Essent Group Ltd., a Bermuda-based mortgage insurance company, has set its IPO terms to 19.7 million shares being offered at between $13.50 and $15.50 per share. It would have an initial market cap of approximately $1.2 billion, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol ESNT, with Goldman Sachs, J.P. Morgan and Credit Suisse serving as lead underwriters.
Marcus & Millichap Inc., a Calabasas, Calif.-based commercial real estate brokerage, has set its IPO terms to 6 million shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $531 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol MMI, with Citigroup and Goldman Sachs serving as lead underwriters. www.marcusmillichap.com
Varonis Systems Inc., a New York-based provider of enterprise software for analyzing, managing and migrating unstructured data, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol VRNS, with Morgan Stanley, Barclays and Jefferies serving as lead underwriters. The company reports a $9 million net loss on nearly $49 million in revenue for the first half of 2013, compared to a $7 million net loss on nearly $35 million in revenue for the year-earlier period. Varonis has raised more than $10 million in VC funding, from firms like Accel Partners (25.6% pre-IPO stake), Evergreen Venture Partners (23.1%) and Pitango Venture Capital (17.7%). www.varonis.com
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