|Day's Range||0.7900 - 0.7900|
Moody's Investors Service ("Moody's") assigned first time ratings to Prairie ECI Acquiror LP (Tallgrass HoldCo), including a B1 Corporate Family Rating (CFR) and B1-PD Probability of Default Rating (PDR). Moody's assigned a B1 rating to Tallgrass HoldCo's Senior Secured Term Facility (Term Loan). TEP's SGL-3 Speculative Grade Liquidity Rating and stable outlook are unchanged.
South Korean tech firms Netmarble and Kakao and private equity fund MBK Partners have submitted initial bids to buy the parent of gaming firm Nexon, the Seoul Economic Daily said. The newspaper and another ...
SEOUL (Reuters) - South Korean tech firms Netmarble and Kakao as well as U.S. private equity firms Blackstone and Bain Capital submitted initial bids for control of gaming firm Nexon, the Korea Economic ...
South Korean tech firms Netmarble and Kakao as well as U.S. private equity firms Blackstone and Bain Capital submitted initial bids for control of gaming firm Nexon, the Korea Economic Daily said. Nexon ...
NEW YORK, Feb. 20, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (BXMT) announced today that Steve Plavin, President and Chief Executive Officer, will present at the Citi 2019 Global Property CEO Conference in Hollywood, FL on Monday, March 4, 2019 at 5:00 p.m. ET. An audio webcast of the presentation will be available live on the Webcasts section of BXMT's website at http://ir.blackstonemortgagetrust.com/webcasts/. Blackstone Mortgage Trust (BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia.
The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- A consortium led by China's Anta Sports to acquire Finland's Amer ...
NEW YORK, Feb. 20, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Targa Resources Corp. (NYSE: TRGP ) has agreed to sell a 45 percent stake of Targa Badlands LLC (Badlands), the entity which holds all of Targa's assets in North Dakota, to investment funds owned by GSO ...
Futures rose 0.9 percent on Tuesday in New York, reaching their highest point since mid-November. A U.S. government official said trade talks with China were accelerating as a March 1 deadline approaches, even as the European Union vowed a swift response if America targets automobile imports. On the supply side, Saudi Arabia is slashing crude exports.
Targa Resources Corp. shares jumped about 7% Tuesday, after the company said it has agreed to sell a 45% stake in Targa Badlands to private-equity firms GSO Capital Partners and Blackstone Group LP for $1.6 billion in cash. Houston, Tx.-based Targa said it will remain operator and hold majority governance rights in Targa Badlands, which is the entity holding all of its assets in North Dakota. The assets are located in the Bakken and Three Forks Shale plays of the Williston Basin in North Dakota, and include about 480 miles of crude oil pipelines, 125,000 barrels of operational crude oil storage, about 260 miles of natural gas gathering pipelines and the Little Missouri natural gas processing plant with a current gross processing capacity of approximately 90 million cubic feet per day. The deal is expected to close in the second quarter. Proceeds have been earmarked for debt reduction and general corporate purposes, including the growth capital program. Shares have gained 1.2% in the last 12 months, while the S&P 500 has gained 1.8%.
“Selling a minority interest in the Badlands at an attractive valuation allows us to satisfy a substantial portion of our estimated 2019 equity funding needs and provides us with significant flexibility looking forward.”
Schwarzman’s work as an adviser to U.S. President Donald Trump, opposition to an affordable housing bill in California and his hosting of Saudi Crown Prince Mohammed bin Salman were cited as reasons for the protest in an opinion piece in The Tech, a campus newspaper. Signed by 18 students, faculty or alumni, it raised concerns about the school accepting Schwarzman’s donation of $350 million.
Hellman & Friedman and Blackstone have won over Scout24 after raising their offer for the online classifieds group to 5.7 billion euros ($6.4 billion) including debt, setting up the biggest takeover of a listed German company by private equity. The investors said in a statement on Friday that Scout24's management and supervisory board supported the sweetened bid of 46 euros a share. Last month, the German company rejected an offer of 43.50 euros per share.
It’s low on borrowed money and doesn’t even involve buying out all the target’s shareholders. The duo want to buy Scout24 AG, German a classifieds group they previously owned and took public in 2015. The knock-on effects for the likes of Scout24 are hard to predict.
The sweetened 46 euro-a-share bid from Hellman & Friedman and Blackstone Group LP -- which gives Scout24 an equity value of 4.9 billion euros -- will help the company better challenge rivals and grow across Europe, Scout24 Chief Executive Officer Tobias Hartmann said. The offer reflects a "joint long-term vision and ambition to turn Scout24 into a leading European digital player,” Hartmann said in a statement.
Hellman & Friedman and Blackstone have offered to buy online classifieds group Scout24 for 5.7 billion euros ($6.4 billion), including debt, potentially the biggest takeover of a listed German company by private equity. The investors said in a statement on Friday that Scout24's management and supervisory board support the sweetened bid of 46 euros a share, which the private equity firms said represented a premium of 27 percent to Scout24's unaffected share price.
German internet portal Scout24 said on Friday it will pursue a takeover offer by a consortium of finance investors Hellman & Friedman and Blackstone. The consortium, called Pulver BidCo, would act as a holding company jointly controlled by funds advised by Hellmann & Friedman and affiliates of the Blackstone Group, it said in an adhoc statement. Pulver BidCo was offering 46 euros per Scout24 share in cash to all shareholders.
India's cash-starved residential real estate market is set to get a boost from foreign and domestic private equity firms, which are lining up big bets worth hundreds of millions of dollars for the sector. The domestic residential real estate space has been in a rut for years with failed and delayed projects putting buyers off. Private equity firms are now swooping in to buy assets at attractive valuations, say industry insiders, as regulatory changes and a more dovish monetary policy outlook bode well for the sector.
that would return the German online classifieds company to its former private equity owners. a €43.50 per share bid from H&F and Blackstone. If this bid is accepted by shareholders, ownership of the company will revert to the two lead investors who floated Scout24 three years ago.
The novelist Richard Ford wrote that a market economy works not by giving people what they want, but by persuading them to feel good about having whatever happens to be available. Fully 80 per cent of the money that changed hands there last year was extended under what are known as “covenant lite” loans, a polite term for lending contracts that have had most of the investor protections ripped out. The safeguards in question are legal clauses that once enabled investors to grab the wheel if a company missed its financial forecasts or made other wrong turns.