MLN AcquisitionCo ULC and MLN TopCo have signed an agreement to acquire Mitel Networks Corporation for a cash consideration of $2bn.
As part of the agreement, Mitel shareholders will receive $11.15 in cash per common share held.
Mitel will operate as a privately held company, upon completion of the acquisition.
Expected to be closed in the second half of this year, the transaction is subject to customary closing conditions and other regulatory approvals.
Based in the US, MLN AcquisitionCo and MLN TopCo are affiliates of private equity firm Searchlight Capital Partners LP, while Mitel Networks is a cloud and on-site business communications and collaboration software and services provider based in Canada.
Tibet Gongbu Jiangda County Jiusheng Investment has reached an agreement to acquire a70% stake in Shanghai Xinxing Tongshang Garment Co. for RMB110m ($17.51m) in cash.
The acquirer is a subsidiary of Joeone.
Both based in China, Joeone is a manufacturer and seller of men’s business and casual wear, while Shanghai Xinxing is a garment firm.
MMJ Phytotech has purchased 1.25 million shares in cannabis retailer Fire & Flower for C$1m ($782,120), in anticipation of the Canadian Government’s move to legalise and regulate cannabis in the country later this year.
Fire & Flower plans to open 37 retail stores in Alberta, following the legalisation of marijuana for recreational use, which will be in effect later this year.
Based in Australia, MMJ is a global cannabis investment company, while Fire & Flower is a Canadian retailer of cannabis products.
EG Group has acquired US-based retailer Kroger for $2.15bn.
EG Group will own Kroger’s 762 stores operating in 18 states, which include 66 franchise operations under the brands Turkey Hill, Loaf ‘N Jug, Kwik Shop, Tom Thumb and Quik Stop.
Kroger stores will be operated under EG Group banner, following the transaction.
Kroger will use $1.2bn of the proceeds received from EG Group to fund its accelerated share repurchase (ASR) programme with Goldman Sachs, while the remaining will be used to partially repay its debt.