Altice USA Inc, the cable operator that Netherlands-based Altice NV formed by acquiring Cablevision and Suddenlink Communications, said on Wednesday it had raised US$1.9 billion in an initial public offering, Reuters reported. Altice USA priced 63.9 million shares at US$30, making it this year's second largest U.S. IPO and giving the company a market capitalization of approximately US$22 billion. Altice USA's parent will hold 70.3 percent of Altice USA's shares and 98.3 percent of the voting rights. London-based private equity firm BC Partners and Canada Pension Plan Investment Board, two pre-existing minority investors in Altice USA, will jointly own a minority stake in the company.
2 min read · 22 June 2017
Home Capital Group Inc said billionaire Warren Buffett's Berkshire Hathaway Inc will provide a new $2 billion (US$1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender's strategic review process, Reuters reported. Berkshire will also indirectly buy $400 million of Home Capital's common shares in a private placement through its unit Columbia Insurance Co. It will hold an about 38.39 percent equity stake in the company. Home Capital, Canada's biggest alternative mortgage lender, also said it will continue to explore further asset sales and financing deals over the next year, but has concluded its strategic review process that began in April.
2 min read · 22 June 2017
JD.com Inc (JD.O), China's No.2 e-commerce firm, said it would invest $397 million in fashion retailer Farfetch UK Ltd to expand its luxury offerings, amid fierce competition with Alibaba Group (BABA.N) for China's high-end retail market.
2 min read · 22 June 2017
Swedish private-equity firm Nordic Capital said on Thursday its employees would appeal a ruling by a Swedish court that could lead to top managers in the industry facing a total extra tax bill of around 2.3 billion crowns ($263 million), Reuters reported.
2 min read · 22 June 2017
Private equity firm Waterland has put Dutch gaming firm JVH up for sale after securing a €330m loan financing that can stay in place for any new owners, banking sources told Reuters.
2 min read · 22 June 2017
Altice USA Inc, the cable operator that Netherlands-based Altice NV formed by acquiring Cablevision and Suddenlink Communications, said on Wednesday it had raised $1.9 billion in an initial public offering, Reuters reported.
2 min read · 22 June 2017
Private equity firm Sycamore Partners is in advanced talks to acquire Staples Inc following an auction for the U.S. office supplies retailer, people familiar with the matter said on Wednesday, in a deal that could top $6 billion, Reuters is reporting.
2 min read · 22 June 2017
HongKong's CK Infrastructure (1038.HK) (CKI) is vying with Canadian investors to buy German metering and energy management group Ista, which could be worth more than 4.5 billion euros ($5 billion), sources told Reuters.
2 min read · 21 June 2017
Hong Kong's CK Infrastructure is vying with Canadian investors to buy German metering and energy management group Ista, which could be worth more than 4.5 billion euros (US$5 billion), sources told Reuters. CKI is competing with Canada Pension Plan Investment Board, which already owns a minority stake in Ista and has tied up with the Blackstone Group to make a bid for the full company. Brookfield Asset Management and Ontario Teachers' Pension Plan also submitted a bid, the sources said. Caisse de dépôt et placement du Québec and Kuwait's Wren House Infrastructure had also expressed interest, but it remained unclear whether they placed offers. Ista is currently owned by European buyout group CVC Capital Partners, which bought it in 2013.
2 min read · 21 June 2017
BlackRock (BLK.N), the world's biggest asset manager, made its first push into Europe's "robo-advice" market on Tuesday after taking a stake in Anglo-German digital investment manager Scalable Capital, Reuters reported.
3 min read · 21 June 2017
