Reuters News
Chinese online group discounter Pinduoduo Inc (PDD.O) priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to sources told Reuters.
Russian state conglomerate Rostec said on Tuesday it had completed the sale of a 25.1 percent stake in Russian smartphone manufacturer YotaDevices to a consortium of companies led by Chinese investment group Trinity World Management.
Dutch private equity group Waterland is launching the sale of Median Kliniken, Germany’s largest private-sector chain of post-acute care clinics, in a deal potentially worth more than 1 billion euros ($1.17 billion), sources told Reuters.
U.S. private equity firm Blackstone Group has secured E.U. antitrust approval to acquire a majority stake in Thomson Reuters’ Financial and Risk unit for US$20 billion, Reuters reported, citing a European Commission statement. “The proposed transaction would raise no competition concerns given the limited market shares of the companies, the fact that a number of competitors will remain in the market post-transaction, and the fact that Blackstone accounts for only a minimal share of the demand for Thomson Reuters F&R’s products,” the Commission said.
Detour Gold has asked the Ontario Securities Commission (OSC) to investigate activist investor Paulson and Co’s campaign seeking change at the company, calling it “concerning and unlawful behavior,” Reuters reported. The U.S. hedge fund, run by billionaire John Paulson, has threatened to replace the company’s board if it does not successfully explore strategic alternatives, including a sale, and look for a new CEO. It owns 5.4 percent of Detour Gold. Earlier, the hedge fund issued a press release saying Detour Gold had received a buyout offer from another gold miner, but had failed to disclose it publicly.
Chinese online group discounter Pinduoduo plans to raise up to $1.63 billion from a U.S. listing, its latest filing with the U.S. Securities and Exchange showed, in what would be the second-biggest U.S. float by a Chinese firm this year, Reuters reported.
Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, ushering in a new era for the Wall Street bank as it expands into different businesses and revamps familiar ones. Solomon’s promotion from his current role as president and chief operating officer comes months after the 56-year-old investment banker was […]
Private equity firm KKR & Co (KKR.N) said on Monday it will acquire a minority stake in AppLovin Corp for $400 million, just months after the U.S. mobile marketing firm was forced by Washington to scrap a deal to be acquired by a Chinese buyout firm, Reuters reported.
Shares of Callidus Capital Corp, owned by Canadian private equity firm Catalyst Capital Group, slumped nearly 29 percent on Friday after the Canadian specialty lender eliminated its dividend payments to support business growth, Reuters reported. Callidus closed a new loan for about $125 million, signaling a resumption of growth its loan portfolio, the company said. In March, Reuters published an investigation that raised questions about how Catalyst values the companies in its portfolios, including Callidus, a core holding across its private equity funds.
Canada Pension Plan Investment Board (CPPIB) has agreed to invest in China’s rental housing sector with local property developer Longfor Group, with an initial targeted investment of US$817 million, Reuters reported. The companies will invest in China across major cities—Tier 1 and core Tier 2—via developments, acquisition and master-lease of commercial assets to be converted into rental housing, CPPIB said in a statement. CPPIB and Longfor first started collaborating in 2014 with investments in retail malls and mixed-use projects.