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Potential deal activity in the EMEA financial sector through May 18


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Potential deal activity in the EMEA financial sector through May 18

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential deal activity in the financial sectors of Europe, the Middle East and Africa. This summary, which is displayed according to the location of a target's headquarters, is based on information obtained by S&P Global Market Intelligence and may not be inclusive of all potential deal activity.


* PayPal Holdings Inc. confirmed that it is buying Swedish payments provider iZettle AB for $2.2 billion in cash, with the transaction expected to close in the third quarter.

* Concern Rossium and Alfastrakovanie Plc are both interested in potentially acquiring Russian insurer OJSC State Insurance Co. Yugoria, which will be up for auction May 30. Russian businessman Roman Avdeev owns his stake in PAO Credit Bank of Moscow through Concern Rossium.

* Al Khalij Commercial Bank (al khaliji) PQSC is in preliminary discussions to sell 100% of fully owned unit Al khaliji France SA. The Qatari bank is engaging with third parties to potentially sell the unit via a private offering.

* DenizBank AS CEO Hakan Ates hopes that a sale of the lender will be finalized in May. Emirates NBD Bank PJSC is seeking to acquire the Turkish bank from PAO Sberbank of Russia, Reuters reported.

* Generali's Prague-based Generali CEE Holding BV unit agreed to conduct exclusive negotiations with Slovenia-based KD Group financna družba d.d. to acquire Adriatic Slovenica Zavarovalna druzba d.d.

* J.C. Flowers & Co. LLC is reportedly in advanced discussions to acquire into independent insurance brokers SSL Insurance Brokers Ltd. and Endeavour Insurance Services Ltd. The U.S. private equity company plans to combine the two U.K. brokers into one new entity. The deal, if agreed upon, could be announced in the week of May 14.

* China CITIC Bank Corp. Ltd. is interested in acquiring a Belarusian bank.

* Paragon Banking Group Plc is considering a possible acquisition of Titlestone Property Finance. Sky News reported that the U.K.-based specialist lender has entered talks regarding the acquisition of the real estate finance firm from private equity group Oaktree.

* CYBG PLC made a preliminary offer to acquire rival Virgin Money Holdings (UK) PLC.

Rest of the world

* Alawwal Bank and Saudi British Bank struck an initial agreement on some of the terms of a planned merger that would create the third-biggest bank in Saudi Arabia, with more than $70 billion in assets. A binding agreement to proceed with the merger has not yet been signed, and any such deal will be subject to regulatory approvals.

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