club deal

Choice of targeted club deal reflects jittery market environment, and bankers say they expect more such deals as sellers seek alternative ways to achieve better pricing.

The reverse inquiry-driven club-style deal is priced at a 3.5% discount and comes after the stock hit a new record high on Friday.

The shares are sold to a small group of long-term investors at a 0% discount to the latest close and result in a 136% gain for the Indonesian bank.

The club-type deal was prompted by reverse inquiries and is the third sell-down by the two pre-IPO shareholders since Samsonite’s listing in 2011.

After cancelling a block trade at the end of last month, SK Telecom returns with a bigger deal during the weekend, raising $391 million.

RBS cements its M&A practice with a sole advisory role on Li Ka-Shing's acquisition of EDF assets in the UK.