KKR to take over Goldman Sachs-backed insurer Global Atlantic

(Reuters) – KKR & Co Inc (KKR.N) said on Wednesday it would acquire Goldman Sachs-backed Global Atlantic Financial Group Ltd, making it the latest private equity firm to add an annuities and life insurance provider to its platform. KKR said it will become the manager of Global Atlantic’s investment portfolio, giving it a steady stream of lucrative fees and boosting […]

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China hires Morgan Stanley, Goldman Sachs to advise on pipeline asset transfers: sources

HONG KONG/BEIJING (REUTERS) – Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisers for multi-billion dollar deals transferring oil and gas pipeline assets into a national energy infrastructure giant, four sources said. Overseen by a government vice premier, underlining the project’s importance for Beijing, Beijing aims to complete the asset transfers and […]

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Aeromexico sets investor meetings to discuss debt overhaul

MEXICO CITY (Reuters) – Mexico’s Aeromexico (AEROMEX.MX) on Monday scheduled meetings with investors to discuss debt restructuring after becoming the third large Latin American carrier to file for Chapter 11 bankruptcy protection last week. Management of the airline part-owned by Delta Air Lines Inc (DAL.N) proposed focusing on the modification of payment terms for stocks and other certificates in the […]

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Brazilian investment bank BR Partners plans IPO, sources say

SAO PAULO (Reuters) – Brazilian investment bank BR Partners is planning an initial public offering for September, two people with knowledge of the matter said. The issue in the local Brazilian market will be managed by Banco BTG Pactual SA (BPAC3.SA), the sources said, asking for anonymity to disclose private plans. Credit Suisse and Bank of America will also be […]

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World in transition – the 4 big challenges

Rapid change is now a constant, globally important institutions are questioned or coming apart, a lot of churn is happening, in society, in the economy, and geopolitical shifts are in the offing. You are familiar with William Butler Yeats’ poem The Second Coming. I think it captures the mood presented by the profound challenges we face today. We all know […]

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Masmovil buyers secure first leveraged loan since COVID-19 crisis

LONDON/MADRID (Reuters) – The private equity consortium behind the mooted acquisition of Spanish telecoms firm Masmovil (MASM.MC) has secured a 2 billion euro ($2.3 billion) loan towards that deal, helping revive a leveraged loan market that has taken a beating this year. The seven-year loan, which will be issued by Masmovil but go towards financing a bridge loan taken to […]

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Britain and India's Bharti win auction for OneWeb satellite company

LONDON (Reuters) – Britain has joined forces with India’s Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging $1 billion between them to develop a constellation that could boost broadband and other services. Under the deal announced on Friday, Britain will invest $500 million and take a significant equity share in OneWeb while Bharti will […]

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Singapore watchdog raises concerns about LSE's proposed Refinitiv acquisition

SINGAPORE (Reuters) – Singapore’s competition authority said on Thursday it had raised concerns about the London Stock Exchange’s (LSE.L) proposed $27 billion acquisition of data and analytics company Refinitiv in an initial review. The Competition and Consumer Commission of Singapore (CCCS) said it would need to consider in more detail the effect of the transaction in a second phase review. […]

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Commentary: Putin can't afford to ditch the dollar

Paul Manafort, while managing Donald Trump’s 2016 election campaign, is accused of passing private polling data to his Russia business partner, a man with alleged ties to Russian intelligence. This new information, revealed in an unsealed court filing, is likely to stoke the case in Congress for increased sanctions against Russia. Equally importantly, the reverberations will be felt in Moscow, […]

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Temasek-led investor group in $250 million vaccine bet on Germany's BioNTech

FRANKFURT (Reuters) – Singapore’s state investor Temasek and other investors are injecting $250 million into German biotech company BioNTech (BNTX.O), which is developing an experimental vaccine against the coronavirus with pharmaceutical giant Pfizer (PFE.N). The investment, which BioNTech said was via a private placement, reflects heightened investor interest in the race to develop an agent that will stop the pandemic […]

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