The two buyout firms that own Pharmaceutical Product Development LLC (PPD) are in advanced talks to sell some of their stakes in the U.S. clinical trials firm at a price that would value the entire company at more than $9 billion, including debt, Reuters reported.
2 min read · 29 March 2017
Milestone Apartments Real Estate Investment Trust said this week that its unitholders approved the Canadian company's takeover by U.S. private investment firm Starwood Capital Group for about US$1.3 billion, Reuters reported. Starwood last week raised its offer to US$16.25 per Milestone unit from US$16.15, after proxy advisory firm ISS recommended Milestone unitholders to vote against the deal. It is expected to close on or about April 28, the company said.
1 min read · 28 March 2017
Milestone Apartments Real Estate Investment Trust (MST_u.TO) said on Tuesday that its unitholders approved the company's takeover by U.S. private investment firm Starwood Capital Group for about $1.3 billion.
1 min read · 28 March 2017
Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture in a new report. Four in five bankers believe AI will "revolutionise" the way in which banks gather information as well as how they interact with their clients, said the Accenture report, which surveyed more than 600 top bankers and also consulted tech industry experts and academics.
2 min read · 28 March 2017
CVC is selling German metering and energy management group Ista, which could be worth up to 4 billion euros ($4.3 billion), sources told Reuters on Tuesday.
2 min read · 28 March 2017
Industrious, the second-biggest U.S. coworking firm by number of locations, said on Tuesday it acquired a search website for spare office space and raised $25 million in fresh funds as investors bet the shared-office industry grows and goes mainstream.
2 min read · 28 March 2017
Fund firm Fidelity International said on Tuesday it had partnered with NCB Capital, the investment arm of Saudi Arabia's largest bank National Commercial Bank 1180.SE, to launch a real estate vehicle with a total investment of $300 million.
1 min read · 28 March 2017
India's Bharti Airtel said it sold a 10.3 percent stake in its telecom tower unit Bharti Infratel to U.S. private equity firm Kohlberg Kravis Roberts & Co LP and Canada Pension Plan Investment Board for more than 61.9 billion rupees (US$952.75 million), Reuters reported. Bharti Airtel sold 190 million shares in Infratel to KKR and CPPIB at 325 rupees apiece, the country's top telecom operator said in a statement, adding that the funds will primarily be used to reduce its debt. The deal will leave Bharti's stake in Infratel at 61.7 percent, with the remainder owned by a slew of fund managers.
2 min read · 28 March 2017
Initial public offerings (IPOs) by companies based in Britain have raised $1.53 billion so far in 2017, a 28 percent decline on last year and the lowest year-to-date total since 2012 as Britain prepares to leave the EU, Thomson Reuters data shows.
2 min read · 28 March 2017
Bain Capital Private Equity has decided not to proceed with the acquisition of Belgian packaging company Resilux (RESI.BR) due to an anti-trust ruling in Germany, Reuters reported.
1 min read · 28 March 2017
