M&A News: Global M&A Deals Week of Jan 20 to 26, 2025

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The Institute for Mergers, Acquisitions and Alliances (IMAA) provides a detailed weekly roundup of mergers and acquisitions news, highlighting the most significant global M&A deals. This essential update offers a snapshot of the latest movements and trends within the M&A market, showcasing the top transactions that stand out in the corporate world. Through this coverage, IMAA aims to furnish M&A professionals and enthusiasts alike with a comprehensive overview of the week’s M&A activities, helping them stay informed about the evolving landscape of global mergers and acquisitions.

Between January 20 and January 26, the global mergers and acquisitions (M&A) market recorded 570 deals, totaling USD 28.86 billion in value. A significant portion of this activity was driven by 10 transactions, each exceeding USD 500 million, which collectively accounted for USD 23.11 billion—representing approximately 80% of the overall deal value for the period.

The standout deal of the week was the USD 13.86 billion acquisition of Mediobanca by Monte dei Paschi, Italy’s oldest bank, creating a combined entity with assets that place it among the top three banking institutions in Europe. Mediobanca, known for its expertise in investment banking, wealth management, and consumer finance, will benefit from an expanded commercial network and enhanced financial capabilities as a result of the acquisition. This transaction is part of a broader wave of M&A activity in Italy, where corporate restructuring has been accelerating. For instance, Banco BPM SpA, Italy’s third-largest lender, made an offer to acquire domestic asset manager Anima Holding SpA in November, only to be targeted for acquisition itself by UniCredit SpA shortly thereafter.


In terms of weekly trends, the M&A market saw an 11% decrease in deal volume, dropping from 643 transactions the previous week to 570 in this period. Similarly, total deal value experienced a notable 42% decline, falling from USD 49.40 billion to USD 28.86 billion.

Top 5 M&A Deals for the Week

Here are the top 5 M&A Deals for the week of  Jan 20 to 26, 2025 in detail:

 

Deal No. 1: Banca Monte dei Paschi di Siena S.p.A. to Acquire Mediobanca Banca di Credito Finanziario S.p.A. for USD 13.86 Billion

 

Deal No. 2: AM Green Power B.V. to Acquire Greenko Energy Holdings for USD 1.46 Billion

 

Deal No. 3: TDR Capital LLP to Acquire CorpAcq Ltd for USD 1.23 Billion

 

Deal No. 4: HongShan Capital Group to Acquire Marshall Group AB for USD 1.15 Billion

 

Deal No. 5: Gp Günter Papenburg Aktiengesellschaft; TSR Recycling GmbH & Co. KG to Acquire Salzgitter AG for USD 1.15 Billion

Deal No. 1:
Banca Monte dei Paschi di Siena S.p.A. to Acquire Mediobanca Banca di Credito Finanziario S.p.A. for USD 13.86 Billion

Italy’s Monte dei Paschi di Siena (MPS), the world’s oldest bank, has initiated a USD 13.86 billion (EUR 13.3 billion) takeover bid to acquire Milan-based Mediobanca in a deal poised to reshape the Italian banking landscape.

 

Mediobanca, with a market value of EUR 12.7 billion, is a key player in Italy’s financial sector, offering corporate and investment banking, wealth management, and consumer credit services. The institution is well-regarded for its role in major mergers, acquisitions, and capital market transactions throughout Europe.

 

The merger aims to integrate Mediobanca’s strengths in investment banking and wealth management with MPS’s established retail banking operations, creating Italy’s third-largest bank by assets. MPS plans to delist Mediobanca from the Milan Stock Exchange and anticipates annual pre-tax synergies of EUR 700 million. Additionally, the bank expects to capitalize on tax credits from prior losses, boosting profits by EUR 500 million annually for six years.

 

The transaction is expected to close by September, marking a pivotal moment in Italy’s banking history and signaling MPS’s strategic push for growth and consolidation.          

Deal No. 2:
AM Green Power B.V. to Acquire Greenko Energy Holdings for USD 1.46 Billion

Orix Corp. is selling its entire 20% stake in Greenko Energy, one of India’s leading clean energy producers, to AM Green Power BV, a Netherlands-based firm owned by Greenko’s founders, in a transaction valued at USD 1.46 billion.

 

Greenko Energy, a prominent force in India’s renewable energy sector, manages an installed capacity of 7.3 GW across wind, solar, and hydroelectric projects. As one of the country’s largest independent power producers, Greenko is committed to sustainability and advancing India’s transition to clean energy. The company’s portfolio is backed by significant investments, with Singapore’s sovereign wealth fund, GIC Pte., holding the majority stake at 58%. Greenko is also at the forefront of innovations in energy storage and smart grid technologies.

 

AM Green Power focuses on the development and management of sustainable energy solutions, spanning both onshore and offshore projects. Its mission is to promote environmental sustainability and support the global decarbonization of energy systems. This acquisition strengthens AM Green Power’s position within the renewable energy space, aligning with its long-term vision.

 

For Orix, this sale is part of its capital recycling approach, enabling reinvestment into next-generation energy sectors, including the emerging green molecule market.

 

The transaction is slated for completion by the end of March 2025. Greenko’s founders are securing an USD 800 million loan to fund the purchase, with Barclays Plc and Deutsche Bank AG facilitating the arrangement.

Deal No. 3:
TDR Capital LLP to Acquire CorpAcq Ltd for USD 1.23 Billion

Private equity firm TDR Capital is set to acquire a majority stake in CorpAcq, a UK-based investor focused on small to medium-sized enterprises (SMEs), in a transaction valued at approximately GBP 1 billion (USD 1.23 billion).

 

CorpAcq, founded in 2006 by Simon Orange, owner of Sale Sharks Rugby Club, specializes in investing in stable, well-established SMEs in the UK, particularly in the industrial products and services sectors. The firm employs a buy-and-build strategy and currently manages a portfolio of over 43 companies, all of which have demonstrated strong organic growth. CorpAcq’s model allows SME founders to retain control of their businesses while gaining a long-term investment partner to provide operational support.

 

TDR Capital, a European private equity firm managing over EUR 15 billion in assets, will direct its investment toward supporting CorpAcq’s future acquisitions. Simon Orange and the current management team will continue to hold a significant stake in the company and oversee its operations.

 

The deal is expected to close in the first quarter of 2025. TDR Capital was advised by Barclays and Paul, Weiss, Rifkind, Wharton & Garrison LLP, while CorpAcq received advisory services from UBS and Reed Smith LLP.

Deal No. 4:
HongShan Capital Group to Acquire Marshall Group AB for USD 1.15 Billion

China’s HongSan Capital Group (HSG) is acquiring a majority stake in the iconic UK audio brand Marshall for EUR 1.1 billion (USD 1.15 billion), marking its largest European investment to date. This acquisition ushers in a new chapter for Marshall as it seeks to fully realize its growth potential.

 

Marshall, established in the 1960s, is a pioneer in high-performance audio equipment and guitar amplifiers, trusted by musicians worldwide. With a legacy shaped by legendary artists, Marshall amplifiers have had a profound impact on the sound of modern rock. Expanding beyond amplifiers, the brand now offers a wide range of audio products, including headphones, speaker systems, and more, solidifying its position as a leader in the music industry. The infusion of HongSan’s capital will drive Marshall’s entry into smart audio technologies, integrating AI-powered audio engineering and advanced wireless solutions.

 

For HongSan, the deal strengthens its foothold in the global consumer electronics market, expanding its presence in the U.S. and Europe through Marshall’s established client base. With additional resources and HongSan’s technological expertise, Marshall is poised to enhance its premium product offerings and explore new avenues in emerging sectors such as gaming and virtual reality immersive audio.

 

Post-acquisition, the Marshall family will retain over 20% of the company. HongSan will collaborate closely with the Marshall family and management team to enhance the brand and foster long-term, sustainable growth.

 

This acquisition highlights HongSan’s continued expansion in Europe, adding to its growing portfolio, which includes the French fashion brand AMI Paris and the British digital bank Monzo.

 

Deal No. 5:
Gp Günter Papenburg Aktiengesellschaft; TSR Recycling GmbH & Co. KG to Acquire Salzgitter AG for USD 1.15 Billion

German steelmaker Salzgitter has received a EUR 1.1 billion (USD 1.15 billion) takeover bid from a consortium led by GP Gunter Papenburg and metal-recycling firm TSR Recycling. This proposal comes as Europe’s steel industry grapples with overproduction and declining demand.

 

Salzgitter AG is one of Germany’s top steel producers and one of the largest in Europe, offering a broad range of products such as flat and long steel, tubes, and stainless steel, catering to sectors like automotive, construction, and energy.

 

Papenburg and TSR aim to expand their influence over the company and support Salzgitter’s transition toward green steel production. GP Gunter is already the largest shareholder, holding 26.7% of the company.

 

To assume control, the consortium would need to acquire at least 45% of Salzgitter, including GP Gunter’s existing shares.

 

Salzgitter is currently in discussions with the consortium and is evaluating the proposal, though the outcome of this review has not yet been determined.

This concludes our M&A news coverage of the top global mergers and acquisitions deals for the week of Jan 20 to 26, 2025. For continuous and detailed insights into the evolving landscape of M&A news, we invite you to follow the Institute for Mergers, Acquisitions, and Alliances (IMAA).

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