PE HUB Wire Highlights, 6.28.19

Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

Blackstone, Lego family to take Madame Tussauds owner Merlin private in $7.5 bln deal; Aurelius Equity to make 16x on Solidus exit; What to know before entering the Russian market

Morning, Hubsters! This is Luisa, subbing for Chris, who is on vacation.

It’s the Friday before the July 4th holidays and things have slowed. Lots of talk about this week’s Democratic debates. But outside of Sen. Kamala Harris, I’m not sure if anyone scored a major win. (Although I did get a thrill when Mayor Pete delivered some pretty good Spanish. Yes, I can’t believe it worked on me.)

Interestingly, Victor Orlovski, managing partner and founder of Fort Ross Ventures, has written an article on what you should know before entering the Russian market. I had no idea that the Russian people were the most active internet users among all the EU nations. Read his article here.

The big deal this morning involves Madame Tussauds owner Merlin. Blackstone Group and Lego’s founding family are buying Merlin in a deal valued at $7.5 billion, Reuters is reporting. Kirkbi, the private investment company of Lego’s Kirk Kristiansen family, will own 50 percent of Merlin, while Blackstone and Canadian pension fund CPPIB will own the rest, the story said.

Aurelius Equity Opportunities is selling Solidus Solutions for 330 million euros ($375.6 million) to Centerbridge Partners. The deal is the biggest exit for Aurelius, which is making 16x on the deal. Solidus is a European producer of sustainable fibre-based packaging for food, beverage and horticulture, consumer goods and industrial. See our brief here.

Ontario Teachers’ Pension Plan is investing in Elon Musk‘s SpaceX, a maker and operator of advance rockets and spacecraft. Check out our brief here.

Some fintech news: The Federal Trade Commission has approved Global Payments‘ $21.5 billion buy of Total System Services, according to a post on the FTC site. Early termination notices appear on the FTC site after the regulator has contacted an antitrust review of the deal.


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