Reuters News
Rampant corruption scandals and a deep recession soured many foreign investors on Brazil in recent years, but one Canadian group saw opportunity, Reuters reported. Brookfield Asset Management and its subsidiaries have made nearly a dozen major acquisitions there since 2013. The firms have spent about US$10 billion on energy, infrastructure and real estate assets few others would touch due to the legal, political and economic risks involved. "A crisis is a good time to find value," said a person close to the group, who called Brookfield a "contrarian investor."
Private equity investor Permira said on Friday it had sold its entire stake in British specialist pensions provider Just Group for 143 pence a share, Reuters reported.
U.S. hospital operator HCA Healthcare Inc (HCA.N) and private equity firm KKR & Co (KKR.N) have joined forces to make an offer for U.S. physician services provider Envision Healthcare Corp (EVHC.N), Reuters reported.
Canada's Brookfield Property Partners is in talks to acquire a stake in a Manhattan office tower majority-owned by a company that was previously run by Jared Kushner, son-in-law of U.S. President Donald Trump, a source told Reuters. Brookfield would oversee the redevelopment of 666 Fifth Avenue, a 41-storey tower controlled by Kushner Companies. The acquiring entity would be a Brookfield private real estate fund, the source said. The seller was not indicated nor the size of stake to be acquired.
ESR-REIT (ESRR.SI) will buy rival Viva Industrial Trust (VIVA.SI) in a proposed deal valued at S$936.7 million, marking the first consolidation among Singapore’s crowded mid-cap real estate investment trusts, Reuters reported.
Canada Pension Plan Investment Board this week reported an 11.6 percent return on investments in its latest fiscal year but warned double-digit growth was not sustainable with competition for assets intensifying, Reuters reported. CPPIB ended the year with net assets of $356.1 billion, compared with $316.7 billion a year ago, the second largest annual growth since the fund’s creation in 1997. However, its President and CEO Mark Machin warned that returns will slow, with competition for assets being the biggest challenge facing CPPIB.
China regulatory authorities have approved the $18 billion sale of Toshiba Corp’s (6502.T) chip unit to a consortium led by U.S. private equity firm Bain Capital, Japanese public broadcaster NHK reported on Thursday, without citing sources.
Buyout fund CVC Capital Partners held talks with Italian drugmaker Recordati (RECI.MI) over a possible 8 billion euro ($9.4 billion) takeover, but has put the deal on hold due to concerns about the hefty price tag and political uncertainty, sources told Reuters.
Hearing aid makers Widex and Sivantos are merging to create an industry number three that can invest more in digital devices and step up the challenge to market leaders Sonova and William Demant, Reuters reported.
TPG’s growth investment arm has raised its stake in Tanium Inc with a $175 million investment, valuing the U.S. cyber security start-up at about $5 billion, Reuters reported.