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17 Dec 2018, Stella Zlatareva, EMIS M&A Team

November's Top Deals

In November, the world's largest utility company, State Grid Corporation of China, finally completed its tender offer for the remaining stake in Brazilian renewable energy company CPFL Energias Renovaveis and the transaction became the largest one for the month in Latin America. The buyer secured just under 100% of the power generation firm, paying USD 1.07bn for the 48% stake it did not own, only after a long-drawn row with CPFL Energia's minority shareholders. The latter insisted that State Grid’s original offer was not high enough and the Chinese buyer was forced to sweeten the bid.

In EMEA, the biggest deal was Sberbank’s purchase of the Suvorov Plaza office complex, also known as Mirax Plaza, near business centre Moscow City. Media sources suggest the property acquired by Sberbank could be worth from USD 750mn to USD 900mn.

Malaysia’s sovereign wealth fund Khazanah Nasional was responsible for the largest Asian deal in November. As part of the government’s effort to reduce its stranglehold on big Malaysian companies, Khazanah Nasional divested 16% in IHH Healthcare, the largest hospital operator in Asia, to Japan's Mitsui for USD 2bn.

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Original source: EMIS - DealWatch