Issue 4 2019

Acquisition International - Issue 4 2019 5 News : from around the world Bridgestone Europe completes acquisition of TomTom Telematics Bridgestone Europe NV/SA, a subsidiary of Bridgestone Corporation in EMEA, the world’s largest tyre and rubber company, recently announced it has completed the acquisition of TomTom Telematics, the leading provider of digital fleet solutions in Europe, for € 910 million. First announced on the 22nd January 2019, the acquisition has now passed the relevant regulatory stages, had full approval from TomTom’s shareholders, and received a positive response from TomTom’s works council. The acquisition builds on previous work at Bridgestone to strengthen its digital capabilities. Telematics, the number one in Europe in a double-digit growth industry, fits Bridgestone strategically and gives it a reinforced footprint in mobility solutions that make fleet operations more effective and efficient. Telematics will operate within Bridgestone as a standalone business while taking advantage of the strong brand equity, large customer base, global reach and retail network of Bridgestone. Its management team remains unchanged as a result of the deal and will draw on Bridgestone’s investments and capabilities to accelerate the current growth plans in Europe and other regions around the world where Telematics is present. The ambition is to remain the undisputed number one in Europe and consolidate a global leadership position in fleet management services. Bringing together both companies’ offerings will provide new, profitable opportunities and bring value to customers. Paolo Ferrari, CEO and President of Bridgestone EMEA, Executive Vice President of Bridgestone Corporation, said: “The closing of this transaction is a significant milestone on Bridgestone’s transformation journey from tyre producer to mobility solutions leader.” “With demand for fleet-based mobility growing year-on-year, fleet managers need more than ever before a reliable and innovative partner to help them maximize their effectiveness and efficiency through increased productivity and minimised total cost of ownership. Now, together, Bridgestone and TomTom Telematics have the tools, insights and experience to fulfil those demands. We are marking the creation of a fleet solutions powerhouse that will lead our industry into the future of mobility.” Harold Goddijn, CEO TomTom, said: “We’re delighted that Bridgestone recognizes the talent and skills in TomTom Telematics, and intends to grow the business to its full potential. I’d like to wish all our colleagues in Telematics a successful future with Bridgestone.” Acquisition accelerates Bridgestone’s digital transformation and status as preferred partner in mobility solutions. SALIC Australia says transaction closes for the acquisition of Baladjie Pty Ltd comprising over 200,000 hectares of farming in Western Australia’s wheatbelt. Saudi Agricultural and Livestock Investment Company (SALIC) Australia recently announced the acquisition of Baladjie Pty Ltd. Baladjie is an aggregation of over 200,000 hectares of farming in Western Australia’s wheatbelt that also carries a 40,000-head Merino sheep flock. The aggregation comprised John and Julie Nicoletti’s farming interests and other third-party options. The transaction closed today after receipt of non-objection approval from Australia’s Foreign Investment Review Board (FIRB). Commenting on the deal, SALIC KSA CEO, Matthew Jansen, said: “The acquisition of Baladjie is an important step for SALIC as we continue to build our global footprint in a meaningful way. It is our first acquisition in Australia as well as our first investment in sheep production.” SALIC’s Head of Production Agriculture Investments, William England, said that the local team will build on the legacy of John Nicoletti with plans to manage the livestock and grain production enterprise for the long term with a focus on sustainability, profitability, environmental responsibility and support for the local rural community. SALIC Australia is a wholly owned subsidiary of SALIC KSA, a Riyadh- based investment company 100% owned by sovereign wealth fund, the Public Investment Fund (PIF). SALIC aims to be a world-class food security focused agribusiness investment company, making sizeable, meaningful and scalable investments while ensuring a balanced risk optimized portfolio. SALIC focuses on the food security objective of Saudi Arabia while maintaining commercial discipline, investing in new projects while taking existing agribusiness projects to new heights. Saudi Arabia’s SALIC Announces First Agricultural Investment in Australia