Credit Suisse (CSGN.S) has hired an investor relations manager for its Swiss entity, a bank spokesman said on Friday, as it moves ahead with plans to spin off a minority stake in its domestic bank.
1 min read · 03 March 2017
Liquidator Gordon Brothers Group won the auction this week for the intellectual property of The Wet Seal LLC with a bid of US$3 million, besting the US$1.5 million initial offer from Canadian retailer YM Inc, sources told Reuters. A U.S. bankruptcy court judge must still approve the sale, the sources said, asking not to be identified ahead of a public announcement. Versa Capital Management, the U.S. private equity owner of Wet Seal, bought the U.S. teen retailer out of its first bankruptcy in 2015.
2 min read · 02 March 2017
Luxury lingerie retailer Agent Provocateur was sold to Four Holdings on Thursday, after going into administration, its administrator AlixPartners said.
1 min read · 02 March 2017
3 min read · 02 March 2017
U.S. electric vehicle charging station maker ChargePoint Inc said on Thursday it is raising $100 million in a funding round led by German automaker Daimler that will allow it to expand into Europe.
2 min read · 02 March 2017
Park Square Capital and SMBC are setting up a new €3bn direct lending fund which will be a joint venture between the two firms, Reuters reported.
1 min read · 02 March 2017
Snap Inc's in-demand shares are set to start trading in New York on Thursday after the owner of the popular Snapchat messaging app raised $3.4 billion in its initial public offering (IPO) on Wednesday, above its price expectations, Reuters reported.
2 min read · 02 March 2017
Snap Inc priced its initial public offering above its target range on Wednesday, a source told Reuters, raising $3.4 billion as investors set aside concerns about its lack of profits and voting rights for a piece of the hottest tech IPO in years.
2 min read · 01 March 2017
Brookfield Asset Management is nearing an accord to buy a 30 percent stake in Renova Energia SA, which would include 800 million reais (US$258 million) in fresh capital for the Brazilian renewable energy company, a source told Reuters. Under terms of the deal, Canada's Brookfield would purchase the 15.7 percent stake that Light Energia SA has in Renova and then pump fresh cash into the company. Last year, Renova struggled with a severe cash crunch. By injecting capital, Brookfield is giving Light a chance to exit the company while diluting the other two members of Renova's controlling bloc.
2 min read · 01 March 2017
A €1.1 billion (US$1.2 billion) leveraged financing backing a buyout of European medical laboratory services operator Cerba is being shown to early-bird investors in a bid to gauge appetite for the deal, sources told Reuters. JP Morgan, Natixis, Credit Suisse, Deutsche Bank and BNP Paribas are leading the debt financing, which is currently split between a leveraged loan and a high-yield bond. Partners Group and Canada's PSP Investments agreed to acquire Cerba from PAI Partners, the firms announced in January. The terms weren't disclosed.
2 min read · 01 March 2017
