Fusion & Acquisition

🏁 Alphabet's subsidiary, Waymo, raises $5.6 billion to expand its autonomous taxi network, currently operating in San Francisco, Los Angeles, and Phoenix. With previous funding of $5.5 billion since 2020 and backers like Andreesen Horowitz, Silver Lake, and Tiger Global, Waymo's total raised is $11.1 billion. The funds will accelerate deployment in U.S. cities, including Austin and Atlanta, in partnership with Uber, improving the Waymo Driver software and supporting over 100,000 weekly rides.

📢 AAK has agreed to sell its Foodservice site in Hillside, New Jersey, USA, as part of its portfolio strategy to optimize Foodservice operations. The binding transaction with Stratas Foods LLC should close by year-end, subject to standard conditions. Hillside accounts for ~5% of AAK's volume and ~1% of operating profit. The sale is expected to yield a one-time cash inflow of approximately 600 million SEK and should improve group operating profit per kilo by ~4%.

🏢 Arabian Travel Market (ATM) partners with the International Congress and Convention Association (ICCA) for ATM 2025, aiming to expand the business events sector. ATM 2025 will feature IBTM @ ATM, a dedicated business events showcase. As the official partner, ICCA will conduct sessions on global business event trends, including sustainability, digital transformation, and AI integration. Additionally, ICCA will facilitate international association buyers' participation, showcasing the region's offerings to event organizers. The partnership underscores ATM's commitment to driving tourism through substantial business events, with the industry projected to reach $1.5 trillion this year.

🏥 On October 16, the Club des Directeurs de la Restauration et d’Exploitation (CDRE) Île-de-France hosted a gathering at the H4 Wyndham Paris Pleyel Resort's 40th-floor panoramic bar with Lars Hallier and Maxime Bonvoisin. About 50 attendees, including hospitality schools like UTEC Emerainville, Ferrandi Paris and Bordeaux, EPMT, and Alexandre Dumas, joined partners and journalists. Béatrice Gravier, Director of Equip’Hotel, will welcome CDRE members on November 4.

💸 The Hôtels Cafés Restaurants (HCR) sector fully utilized its 2024 training budget for 35,500 trainees. Post 16/10/2024, AKTO stopped funding in-house training for HCR, and from 21/10/2024, transversal and AFEST trainings were removed from HCR's Espace Formation. HCR companies now exclusively access the "Actions collectives métiers en INTER entreprises" via the Espace Formation. Updates for 2025 will be announced in January 2025, meanwhile, AKTO advises frequently checking their funding rules page.

🏨 Vantage Capital, the largest mezzanine debt fund manager in Africa, fully exited its investment in Egypt-based PickAlbatros Hotels, with a portfolio of 4- and 5-star hotels in the Red Sea region. In December 2020, during the Covid-19 pandemic, Vantage invested $18.4 million to support the hotel group's working capital needs and renovations. The hotel group's capacity increased from 10,000 to 14,000 keys.

🏨 Covivio, a real estate investor since 2005, is transitioning to also being a hotel operator. By 2024, Covivio will enhance its hotel management platform, WiZiU, operating 24 hotels in France and Belgium. WiZiU's launch follows Covivio's increase in capital of its subsidiary, Covivio Hotels, and the planned restructuring of assets with AccorInvest at the end of November. Hotel assets now represent 20% of Covivio's portfolio (up from 15% at the end of 2020), with 38% owned outright (an increase from 62% managed under lease agreements).

🏈 FC Nantes prioritizes 13,000 subscribers and recent Beaujoire spectators for ticket sales against Olympique de Marseille, offering a pack for two home games including OM and Le Havre. Individual purchases can reach up to 20 tickets. The match, scheduled for November 3, is expected to be sold out due to high demand. The club's strategy aims to generate significant revenue, ensure a majority of Nantes supporters in the stadium, and stimulate demand for other matches. Dynamic pricing will adjust ticket prices based on anticipated and actual demand. Early ticket prices are announced at €19 against Nice and a two-match pack is offered at €52 until October 13. FC Nantes adopts dynamic pricing and category/seat quotas to optimize ticket sales and stadium atmosphere.

💰 Uber, led by CEO Dara Khosrowshahi (2005-2017 head of Expedia), is considering the acquisition of Expedia, as reported by the Financial Times. Khosrowshahi has close ties with Barry Diller, Expedia's main shareholder. The potential acquisition by Uber, a company known for aggressive expansion, could smoothly integrate with Expedia due to the existing relationship between Khosrowshahi and current Expedia CEO Ariane Gorin, who worked together from 2013 to 2017.

🍳 Bertrand Franchise and DNA Paradis Group have entered into a strategic partnership, initiating master franchise agreements for Le Paradis du Fruit and Hanoï Cà Phê. Founded in 1982 by Claude Louzon, Le Paradis du Fruit has grown to 27 restaurants, mainly in the Paris region, while Hanoï Cà Phê, a Vietnamese eatery, operates 5 locations (4 in Ile-de-France and 1 in Lyon). Together, they achieved €85M in sales in 2023.