Saturday, September 29, 2012

M&A - The Term Sheet: Fortune's deals blog Term Sheet

Crown Castle International Corp.?(NYSE: CCI) has agreed to acquire the rights to approximately 7,200 towers from?T-Mobile USA Inc., a unit of Deutsche Telekom AG, for $2.4 billion in cash.www.crowncastle.com

The Blackstone Group?has agreed to acquire the investment management business of?Capital Trust Inc.?(NYSE: CT) for $20 million. The unit will be merged into Blackstone's real estate debt strategies business.?www.blackstone.com

BlackRock Inc.?has acquired a stake in the?Moscow Exchange?from the?Russia Direct Investment Fund, according to Bloomberg. No details on the deal size, except that RDIF holds a 2.7% stake in the exchange.?www.blackrock.com

Apax Partners?is seeking a buyer for its 10% stake in Indian hospital chain?Apollo Hospitals Enterprise Ltd., according to Reuters. The deal could be valued at more than $250 million, with possible bidders including fellow Apollo shareholder Khazanah Nasional Bhd (Malaysia).?www.apax.com

Keyes Packaging Group, a portfolio company of?Tricor Pacific Capital, has sold its Interplast Packaging unit to New Zealand's?Pactiv?for an undisclosed amount. Interplast is a Canadian maker of recycled PET egg cartons used in the packaging of specialty eggs.?www.interplast.net

The Hartford
?(NYSE: HIG) has agreed to sell its individual life insurance business to?Prudential Financial Inc.?(NYSE: PRU) for $615 million in cash.?www.thehartford.com

Medtronic Inc.
?(NYSE: MDT) has agreed to acquire Chinese orthopedic device maker?China Kanghui Holdings?(NYSE: KH) for $816 million in cash ($755m net of cash on hand), or $30.75 per KH share.www.medtronic.com

Sony
?has agreed to invest $645 million into?Olympus, becoming the scandal-plagued company's largest shareholder with an 11.5% stake. The deal is at a 4% discount to today's closing price for Olympus shares.?www.sony.com

Source: http://finance.fortune.cnn.com/2012/09/28/ma-208/

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