Market Tracker weekly round-up—11 January 2019

11 Jan 2019 | 4 min read

The weekly round-up covers all deals announced within our statement of scope until 12 noon on the Friday of the previous week. Any deals announced after this time will be included in the following day's round-up.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 4,000 public company deal summaries.

For trend reports and other analysis see our Trend Reports subtopic.

New deals (and AGMs) announced:

AGMs

Announcement dateCompanyIndustry sectorKey information
9 January 2019RELX plcMedia & TelecommunicationsRELX has announced that its 2019 AGM will be held on 25 April 2019.
8 January 2019Glencore plcMining, Metals & ExtractionGlencore has announced that its 2019 AGM will be held on 9 May 2019.
8 January 2019Safestore Holdings plcInvestmentSafestore Holdings has announced that its 2019 AGM will be held on 20 March 2019.

Joint ventures

Announcement dateDealIndustry sectorKey information
11 January 2019Stobart Aviation Limited, Virgin Travel Group Limited & DLP Holdings S.à.r.l.Travel, Hospitality, Leisure & TourismStobart Group Limited announced that it has signed a joint venture agreement to establish Connect Airways Limited,  the shareholders of which are Stobart Aviation Limited, a wholly owned subsidiary of Stobart Group, Virgin Travel Group Limited and DLP Holdings S.à.r.l. Under the terms of the joint venture agreement, Stobart Aviation will enter into two conditional agreements to dispose of the entire issued share capital of each of (i) Everdeal Holdings Limited, which indirectly holds the entire issued share capital of Stobart Air Unlimited Company, and (ii) Propius Holdings Limited, which directly holds the entire issued share capital of Propius Limited, to Connect Airways.
Connect Airways announced a recommended cash offer for the entire issued and to be issued share capital of Flybe Group plc.
9 January 2019Proton Power Systems plc, Hopen GmbH & Hary AGEnergy & Utilities
Transport
Proton Power Systems has announced that it has signed a joint venture agreement to establish Clean Logistics GmbH, a company registered in Hamburg, Germany, which has the objective of building heavy duty trucks purely run on fuel cell hybrid systems, using hydrogen fuel cells in the range of 75 - 150KW. Proton owns 33.33% of the share capital of Clean Logistics, together with its joint venture partners Höpen GmbH (33.33%) and Hary AG (33.33%).

LR/AIM Rules transactions

Announcement dateCompanyIndustry sectorKey information
11 January 2019Ei Group plcFinancial servicesEi Group announced a Class 1 transaction under the listing rules.
10 January 2019IDE Group Holdings plcComputing & ITIDE Group Holdings announced a related party transaction under the AIM rules.
7 January 2019ContourGlobal plcEnergy & UtilitiesContourGlobal announced a Class 1 transaction under the listing rules.

Takeovers

Announcement dateDealIndustry sectorKey information
11 January 2019Flybe Group plc offer by Connect Airways LimitedTravel, Hospitality, Leisure & TourismConnect Airways, a joint venture company announced a recommended cash offer for the entire issued and to be issued share capital of Flybe Group, structured by way of a scheme of arrangement. Connect Airways’ shares are owned 40% by DLP Holdings, S.à. r.l., a company wholly-owned by funds managed by Cyrus Capital Partners, 30% by Stobart Aviation, a wholly-owned subsidiary of Stobart Group, and 30% by Virgin Travel Group Limited, the holding company of Virgin Atlantic Airways Limited.
9 January 2019The Local Shopping REIT plc possible offer by Thalassa Holdings LtdInvestmentThalassa Holdings announced a possible offer for the entire issued and to be issued share capital of Local Shopping REIT not already owned by Thalassa Holdings.The PUSU deadline is on 6 February 2019.

 

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