Parex Resources is one of the largest independent oil and gas companies in Colombia, and the acquisition expands its position in Colombian upstream production. The deal is a cash acquisition of Frontera's Colombian E&P business for up to USD 525 million; Parex later raised US$500 million of 8.50% five-year notes, with the proceeds earmarked for the purchase. Closing is targeted for Q2 2026, subject to customary conditions, and the perimeter includes all of Frontera's Colombian upstream business plus a reverse osmosis water treatment facility and a palm oil plantation.

Gibson Dunn represented Gyre Therapeutics, Inc. in its definitive agreement to acquire Cullgen Inc. in an all-stock transaction valued at approximately $300 million, announced on March 3, 2026. Under the terms of the agreement, Cullgen will become a wholly owned subsidiary of Gyre, and the transaction is expected to close early in the second quarter of 2026, subject to customary closing conditions and necessary regulatory approvals in the United States. The acquisition will combine Gyre’s commercial-stage fibrosis business with Cullgen’s targeted protein degradation and degrader-antibody conjugate platform, creating a fully integrated biopharmaceutical company with U.S.- and China-based capabilities across discovery, manufacturing, and commercialization.

Sidley represented Precision NeuroMed Inc. in its strategic partnership with Brainlab SE under a Joint Development and Commercialization Agreement. This strategic partnership was entered into on 2026-02-27. Under the agreement, the companies will collaborate to develop and commercialize a cloud-based, AI-enabled treatment planning platform for convection enhanced delivery to the brain, and Brainlab has also received an equity interest in Precision NeuroMed. Precision NeuroMed is a clinical-stage biotechnology company advancing precision therapeutics for central nervous system diseases, and the platform is intended to support more precise and personalized drug delivery to brain tissue.

Almanac is the private real estate arm of Neuberger, investing here in Alterra IOS, which is described as a leading owner and manager in the industrial outdoor storage sector. The transaction is structured as a strategic minority investment by Almanac into Alterra IOS; the announcement frames it as growth capital rather than a full buyout. The investment is intended to support Alterra's rapidly growing IOS platform and further institutionalize the industrial outdoor storage asset class.

Sidley represented The Brink’s Company in its acquisition of NCR Atleos Corporation in a cash and stock transaction valued at approximately $6.6 billion, announced on February 26, 2026. Under the terms of the deal, Brink’s will acquire each outstanding share of NCR Atleos for $30.00 in cash and 0.1574 shares of Brink’s common stock, and the transaction is expected to close in the first quarter of 2027, subject to customary closing conditions, including regulatory and shareholder approvals. The transaction combines two financial technology infrastructure providers, bringing together Brink’s cash management and route-based infrastructure with NCR Atleos’ ATM management, ATM network, and ATM-as-a-Service outsourcing capabilities.

Willkie Farr & Gallagher LLP represented Peoria Resources, LLC, a subsidiary of JAPEX (U.S.) Corp., in its approximately $1.26 billion acquisition of the entire operated oil and gas business of Verdad Resources Holdings LLC, completed on February 26, 2026. Willkie also advised Peoria on a reserve-based debt facility financing in connection with the acquisition. The acquired portfolio comprises approximately 101,000 net acres across Colorado and Wyoming in the Denver-Julesburg Basin, focused on horizontal Niobrara and Codell formation development.

Kirkland & Ellis LLP represented Braemont Capital, as special counsel, in the $500 million non-control growth equity investment in VFN Holdings, Inc. (Vero Networks), announced on February 23, 2026 and led by Braemont Capital, Hamilton Lane, and Delta-v Capital. The investment is intended to support Vero’s next phase of growth, including the expansion of its fiber-to-the-premise and wholesale fiber networks, as well as continued strategic M&A across new and existing U.S. markets. Vero Networks is a fiber infrastructure business and broadband internet provider based in Boulder, Colorado, serving retail consumers, schools, government entities, enterprises, carriers, and hyperscale and cloud providers across the United States.

Freshfields represented Mercuria Energy Group in its entry into a joint venture with Tata International Limited to expand their global trading businesses across multiple commodities, announced on February 24, 2026. The joint venture will enable the trade of a diversified basket of commodities in international markets, including energy, metals, agricultural products, oil and gas, and environmental products, and is expected to become operational following receipt of the necessary regulatory approvals. The partnership combines Tata International’s global footprint and market relationships with Mercuria’s scale, trading platforms, risk management tools, and commodity expertise, and is expected to support the development of Mercuria’s trading activities in India and internationally.

Teneo is a global CEO advisory firm that partnered with CVC in 2019; in this transaction it is buying into Clarity Partners, a Copenhagen-based boutique M&A and strategy consulting firm. The deal is structured as a strategic majority investment by Teneo in Clarity Partners. The acquisition extends Teneo's prior M&A activity, following its 2023 acquisition of Tulchan Communications LLP.