New On The Block
- Mercedes-Benz Group AG plans to sell part of its 35% stake in Daimler Truck Holding AG to raise funds, with the stake valued at around €12 billion ($14.2 billion). Proceeds will be returned to shareholders, and details of the sale will be provided in May. Despite the cash infusion, Mercedes-Benz is bracing for a tough year. Margins will likely stay flat due to trade tensions and stiff competition in China.
- Baker Hughes Co. is considering selling its Waygate Technologies unit, which provides industrial testing and inspection equipment. The sale could be worth around $1.5 billion and is expected to attract interest from private equity firms. The company is working with advisers on the potential divestment, though deliberations are still ongoing, and there’s no certainty the deal will happen. Waygate Technologies, based in Hürth, Germany, specializes in radiographic testing systems, CT scanners, and other inspection equipment. It was founded in 2004 as GE Inspection Technologies and has been part of Baker Hughes since 2017.
- ByteDance is in advanced talks to sell Shanghai Moonton Technology, creator of “Mobile Legends: Bang Bang.” Saudi Arabia’s Savvy Games Group is the likely buyer. Reuters reports that the $6 billion–$7 billion deal could close as soon as this quarter, with the companies having agreed on broad terms.
Updates From The Block
Off The Block
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