Greetings from the home office, where it's good to be shaking off the Pro Rata cobwebs. Please remember that you can send me scoop or feedback via email (just hit reply), anonymous tip (http://axios.com/tips) or confidential apps like Signal, Telegram and Confide (Dan Primack / 857-472-3072). Here we go...
Top of the Morning
Dalian Wanda Group has agreed to sell 76 hotels and stakes in 13 tourism projects to Chinese property developer Sunac (HK: 1918) for approximately $9.3 billion.
- Why it's the BFD: Wanda has openly said that it wants to crush Disney's theme park business in China, but today's deal means that it's given up that fight. Here was Wanda chairman Wang Jianlin after the early 2016 opening of Disneyland Shanghai: "The frenzy of Donald Duck and Mickey Mouse and the era of blindly following them has passed... At Wanda I always say we want to ensure Disney is not profitable for 10 to 20 years in this business segment in China."
- Bottom line: This is mostly about Wanda needing cash to repay debt, both because it wants to relist its main property unit and because China's banking regulator last month asked lenders to review the risk profile of loans made to big acquirers like Wanda.
Venture Capital Deals
Private Equity Deals
• CPA Global has acquired Markpro, a Korean provider of IP services, from Korean private equity firm UTC for an undisclosed amount. www.cpaglobal.com
• Vela Trading Technologies has acquired OptionsCity Software, a Chicago-based provider of electronic trading software, from groups like Edison Partners. No financial terms were disclosed. www.optionscity.com
• Euronext (Paris:ENX) has acquired a 60% stake in iBabs, a Dutch provider of an online portal for corporate and public organization boards, for €30.1 million. http://on.ft.com/2t4m2UI
• Cosco Group, a Chinese state-owned shipping container operator, has offered $6.3 billion to acquire smaller rival Orient Overseas Container Line. If accepted, the merger would create the world's third-largest container shipper. http://reut.rs/2tZjf3K
• MetLife (NYSE: MET) has agreed to acquire Logan Circle Partners, the fixed income asset management business of Fortress Investment Group (NYSE: FIG), for approximately $250 million in cash. http://reut.rs/2uUuyqU
• Norsk Hydro (Oslo: NHY), a Norwegian metals company, has agreed to acquire the 50% stake it doesn't already own in -based aluminum products maker Sapa, at an enterprise value of around $3.24 billion. The seller is Norwegian conglomerate Orkla (Oslo: ORK). http://reut.rs/2u9hp0O