Catherine Badour
Brazilian credit card processor StoneCo Ltd filed on Monday for an initial public offering (IPO) on New York’s Nasdaq, as competition speeds up among payment companies in Brazil and the economy recovers from a harsh recession, Reuters reported.
Australia’s Latitude Financial said it has deferred a planned IPO due to market conditions and a change in leadership at the mortgage lender, while a national inquiry into financial sector misconduct clouds the outlook for the industry.
AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, Reuters reported.
Luxury British carmaker Aston Martin has cut the upper end of its initial public offering price range to 20 pounds per share, giving it a potential market value of up to 4.6 billion pounds ($6 billion), following mixed feedback from investors, Reuters reported.
Buyout groups Bain and Cinven, which last year took control of German generic drugmaker Stada (STAGn.DE), said on Monday they planned to buy the remainder of the shares at a higher price and delist the company, Reuters reported.
Honeywell International Inc (HON.N), which makes everything from jet engines to thermostats, said on Monday it will buy Germany-based Transnorm for about 425 million euros ($492.8 million) from IK Investment Partners to boost its presence in the warehouse automation market.
Information technology provider Cognizant Technology Solutions Corp (CTSH.O) is in talks to buy application developer Softvision for about $550 million to boost Cognizant’s digital business, sources told Reuters.
US government agencies have opened the door to bigger, more highly leveraged loans backing private equity buyouts after clarifying that supervisory guidance is not a rule in mid-September, Reuters reported.
Hong Kong-based private equity group PAG said on Wednesday a unit of the firm had launched a HK$5.24 billion ($671 million) unsolicited takeover bid for Spring Real Estate Investment Trust (REIT).
Anbang Insurance Group Co Ltd [ANBANG.UL] aims to sell $200 million worth of Japanese real estate to bidders including Blackstone Group LP (BX.N), about two years after buying them from the U.S. investment firm, sources told Reuters.