Deal Desk
M&A deals, 17 October 2026
· 4 deals
Our view: Buyers, both financial and strategic, are acquiring regional platforms and specialist businesses through staged or carve-out structures, so founders in Singapore and Southeast Asia should prepare early for partial stakes, retained-talent terms and minority protections.
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Singapore · Ports and logistics infrastructure
A.P. Moller Capital agrees to acquire Singapore port operator Portek International from Mitsui & Co.
Danish investment manager A.P. Moller Capital has agreed to acquire Singapore-based port operator Portek International from Mitsui & Co. through its Emerging Markets Infrastructure Fund II, with the purchase price not disclosed. Founded in 1988 and employing around 1,400 people, Portek has interests in seven terminals across six countries, and completion remains subject to regulatory and other third-party approvals.
The Growth Alliance Capital view
infrastructure funds are still paying to own Singapore-headquartered operating platforms that service emerging-market assets, and a corporate seller exiting after more than a decade shows that well-run businesses change hands between owners. Founders of Singapore engineering and operations businesses with regional contracts should note that buyers value the platform and its people, not only the assets on the balance sheet.
Source: ScandAsia
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Southeast Asia · Marketing communications and public relations · 23億3700万円 (JPY 2,337 million; may ultimately change)
Material Group to acquire 80% of Singapore PR consultancy Vero Marketing Services
Tokyo-listed Material Group will acquire 80% of the shares of Vero Marketing Services Pte. Ltd., a Singapore company providing PR consulting in Southeast Asia with operations in Thailand, Vietnam, Indonesia, the Philippines, Singapore and Malaysia. The acquisition price is stated as 2,337 million yen and may ultimately change, and the acquisition date has not been determined.
The Growth Alliance Capital view
Japanese listed acquirers keep using Singapore hubs as the entry point to the region, and an 80% stake that leaves the founder holding the rest is a common structure for people businesses where retaining talent matters. Founders of Singapore services firms with multi-country teams should expect buyers to propose staged ownership and should prepare for that structure early.
Source: MAonline
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Global · Banking
ECB clears UniCredit to raise its Commerzbank stake above 30% with no upper limit
The European Central Bank has authorised UniCredit to exceed the 30% shareholding threshold in Commerzbank and keep increasing its stake with no upper limit, and UniCredit already has access to nearly 50% of Commerzbank's voting rights. UniCredit expects the remaining regulatory steps and offer conditions around the end of the year, while the German state still owns around 12% of the bank.
The Growth Alliance Capital view
cross-border control transactions can take years to complete when stakeholders resist, and a patient buyer building its stake step by step can still reach control. Founders weighing a partial sale to a strategic investor should treat any minority stake as a possible first step towards control and should negotiate rights of first refusal and tag-along protections from the start.
Source: Euronews
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Global · Aviation technology
SITA agrees to acquire Collins Aerospace Airport Solutions
SITA has agreed to acquire Collins Aerospace Airport Solutions, whose passenger processing, baggage and airport operations technology covers everything from check-in and self-service touchpoints to bag drop. The transaction is expected to close in the first half of 2027, subject to customary closing conditions including receipt of required regulatory approvals.
The Growth Alliance Capital view
industry utilities are consolidating specialist software by buying non-core divisions that corporate parents are carving out. Founders of niche B2B software and systems integration firms serving airports, logistics or other regulated infrastructure in Southeast Asia should expect their larger platform competitors to keep looking for capability acquisitions.
Source: SITA
Deal Desk summarises publicly announced transactions from the sources linked. "The Growth Alliance Capital view" is our opinion, not investment advice, and implies no involvement in any transaction mentioned.