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ADIA closes 40% acquisition of DigitalBridge portfolio company: Abu Dhabi Investment Authority (ADIA) has closed its acquisition of a 40% stake in global alternative asset manager DigitalBridge Group subsidiary Landmark Dividend, according to a press release. No details on the value of the transaction were disclosed.
The details: The acquisition, which was initially announced in November, “was completed alongside DigitalBridge-sponsored vehicles to support the continued expansion of Landmark’s real estate and infrastructure growth platform,” the statement says.
Advisors: Gibson Dunn & Crutcher provided counsel to ADIA, while Simpson Thacher & Bartlett acted as counsel to DigitalBridge. TAP Advisors was also financial advisor to Digital Bridge.
ADIA has been on an M&A tear: ADIA has closed a handful of M&A transactions since the beginning of the year, including snapping up a stake in Indian budget airline SpiceJet, purchasing equity shares in Indian railway equipment manufacturer Texmaco Rail, and participating in a consortium that bought a majority stake in the mall unit of Chinese property giant Dalian Wanda. The sovereign wealth fund also has its eyes on buying stakes in funds managed by Hong Kong-based private equity giant PAG. The flurry of transactions has put ADIA — along with Mubadala, Saudi Arabia’s Public Investment Fund, and the Qatar Investment Authority — as the biggest drivers of M&A activity in the region, according to a recent EY report.
IN OTHER M&A NEWS-
Borealis closes 100% acquisition of Integra Plastics: Borealis — which is 25% owned by the Abu Dhabi National Oil Company (Adnoc) — has closed its acquisition of 100% of Bulgaria’s Integra Plastics, according to a company statement. The company did not disclose the value of the transaction.
ICYMI- Borealis signed the agreement for the acquisition last November, saying at the time that its acquisition of the advanced mechanical recycling player would “strengthen our ability to deliver on our advanced mechanical recycling ambition and enable our customers to meet their sustainability targets.”
