Mergers & Acquisitions in August 2015
The most valuable deals were the £2.5 billion acqusition of Jazztel plc by Orange SA and Banco De Sabadell SA’s £1.7 billion takeover of TSB Banking Group plc.
Headquartered in London, Jazztel plc operates within the Spanish telecoms sector offering triple play services (telephone, internet and television). The merger with Orange SA, which received EU approval in May, will amost double Orange’s market share in broadband internet access in Spain, and reduce the number of fixed-network providers operating across Spain to just three. The deal now means that Orange own the entire share capital of Jazztel.
Meanwhile, banco De Sabadell SA completed its takeover of TSB Banking Group plc. The 340p-a-share deal, which was first announced in June, will act as a foothold for the Spanish bank’s expansion into the UK.
Another notable deal which completed in August was the £70 million acquisition of high street chocolatier, Thorntons plc, by Ferholding UK Ltd.