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☆ Stonepeak Partners COO on Textainer acquisition and the state of freight
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStonepeak Partners COO on Textainer acquisition and the state of freightLuke Taylor, Co-COO of Stonepeak Partners, discusses his company's recently announced acquisition of intermodal transport giant Textainer for $7.4 billion.

Persons: Luke Taylor Organizations: Stonepeak, Stonepeak Partners

☆ Big Shipping-Container Firm Nears Sale
▼ + stars: | 2023-10-23 | by ( Laura Cooper | ) www.wsj.com time to read: 1 min

Textainer buys, manages and leases marine-cargo containers and is a longstanding supplier to the U.S. military, according to its website. Photo: Kiyoshi Ota/Bloomberg NewsInfrastructure investor Stonepeak is close to a deal to purchase shipping-container lessor Textainer for more than $2 billion. Textainer investors are expected to receive $50 a share in cash, valuing the company at about $2.1 billion, people familiar with the matter said. Factoring in Textainer’s debt, the deal is worth about $7.4 billion.

Persons: Textainer, Kiyoshi Ota, Stonepeak Organizations: ., Bloomberg News Infrastructure

☆ Stocks making the biggest moves premarket: Chevron, Apple, Walgreens Boots Alliance and more
▼ + stars: | 2023-10-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Chevron , Hess — Chevron shares slumped more than 2% after the oil giant said its buying smaller rival Hess in an all-stock deal totaling $53 billion, or $171 a share. Hess shares moved slightly higher. Walgreens Boots Alliance — The pharmacy operator rose nearly 3% after JPMorgan upgraded Walgreens Boots Alliance shares to overweight from neutral. Salesforce — The software giant lost nearly 2% after Piper Sandler downgraded shares to neutral from overweight, citing heightened execution and M & A risks. Bank of America downgraded Alcoa to a neutral rating and slashed its price target, citing concerns of a near-term earnings decline.

Persons: Hess, Stonepeak, Piper Sandler, Roche, —, Jesse Pound Organizations: Hess, Chevron, Apple, Global Times, Walgreens, Alliance, JPMorgan, Roivant Sciences, Pfizer, Telavant Holdings, Citi, Evercore, Alcoa, Bank of America Locations: Chevron, China

☆ Stocks making the biggest moves midday: Chevron, Okta, Walgreens, Spirit AeroSystems and more
▼ + stars: | 2023-10-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Chevron — Chevron shares fell 3% after the energy giant agreed to buy Hess in a $53 billion all-stock deal , or $171 per share. Walgreens Boots Alliance — Shares popped 5.4% on Monday after JPMorgan upgraded shares to overweight from neutral and raised its price target. Beauty — Shares added 5% after Raymond James upgraded shares to strong buy from outperform in a Monday note. Spirit AeroSystems — The aerospace company's shares gained 4.8% after Bernstein raised its rating on shares to outperform from market perform. FMC Corp — The insecticide company's shares tumbled 12% after FMC issued third-quarter guidance that's lower than what it originally called for.

Persons: Hess, Okta, Pinterest, Raymond James, Olivia Tong, Tong, Bernstein, Pat Shanahan, EngageSmart, Stonepeak, CNBC's Pia Singh, Samantha Subin, Alex Harring, Sarah Min Organizations: Chevron — Chevron, Chevron, Exxon Mobil, Natural Resources, Citi, Evercore, Stifel, Walgreens, JPMorgan, Vista Equity Partners, Textainer, Clean Holdings, FMC Corp, FMC Locations: Guyana, U.S, America

☆ Cellnex’s Nordic towers sale is a good omen
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 29 (Reuters Breakingviews) - Marco Patuano is starting with a small but firm step. After years of M&A-fuelled expansion, the new CEO wants to return Cellnex to investment grade and focus on organic growth and efficiency. Cellnex shares shot up 4% Friday, adding 1 billion euros to the group’s market capitalisation. If Patuano can keep finding buyers for his assets, he may soon return his company to investment grade. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Marco Patuano, Patuano, Pierre Briancon, Lisa Jucca, Streisand Neto Organizations: Reuters, X, Thomson Locations: Italian

The move comes as global infrastructure funds are pouring huge sums of money to acquire capital-intensive telecom infrastructure assets in Southeast Asia, seeing strong growth opportunities. The sources said discussions are taking place for a minority stake to be sold in the decade-old Edotco, which is 63% owned by Axiata. However, three of the sources said there was a possibility that Axiata could even consider giving majority control in order to secure a deal. The sources said the bulk of the proceeds from the share sales will likely fund Edotco's business expansion. While broader dealmaking activity has fallen sharply over the past year due to weak equity markets and rising interest rates, telecom tower assets have been a bright spot.

☆ ADIA weighs bid for 2 bln stg stake in UK's Associated British Ports - Bloomberg News
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is among parties considering a bid for a 34% stake in Associated British Ports that could be valued at about 2 billion pounds ($2.42 billion) or more, Bloomberg News reported on Tuesday. Stonepeak Partners LP and British Columbia Investment Management Corp are among the other investors interested in the stake being sold by Canada Pension Plan Investment Board (CPPIB), the report said, citing people familiar with the matter. Deliberations are in the early stages, the report said, adding that other suitors, including existing shareholders, could also emerge. ADIA, Associated British Ports, British Columbia Investment Management, Stonepeak and CPPIB did not immediately respond to Reuters' requests for comment. ($1 = 0.8256 pounds)Reporting by Aarati Krishna in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Targa to buy remaining stake in NGL pipeline from Blackstone for $1.05 bln
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - Targa Resources Corp (TRGP.N) said on Tuesday it will buy the remaining stake in its Grand Prix NGL Pipeline that it does not already own, for $1.05 billion in cash from Blackstone Inc's (BX.N) energy unit. Targa, which will purchase 25% stake from Blackstone Energy Partners, acquired 75% interest in the pipeline last year when it repurchased interests in its development company joint ventures from investment firm Stonepeak Partners LP for about $925 million. The Stonepeak deal also included 100% interest in its Train 6 fractionator in Mont Belvieu, Texas, and a 25% equity interest in the Gulf Coast Express Pipeline. Grand Prix has the capacity to transport up to 1 million barrels per day (bpd) of natural gas liquids (NGL) to the NGL market hub at Mont Belvieu. Targa said on Tuesday the price of the Blackstone Energy Partners deal, which is expected to close in the first quarter of 2023, represents about 8.75 times Grand Prix's estimated 2023 adjusted EBITDA multiple.

☆ EXCLUSIVE Stonepeak Partners eyes as much as $20 bln for North America infrastructure fund -sources
▼ + stars: | 2022-11-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

The fundraising plans underscore strong demand from investors for infrastructure assets, whose inflation-linked cash flows provide a shield from soaring prices. The predecessor fund, Stonepeak Infrastructure Fund IV, returned 1.08 times its investors' money as of the end of June this year, according to the Oregon Public Employees Retirement Fund (PERS), which had made a $500 million commitment. The prior $7.2 billion Stonepeak Infrastructure Fund III, which was raised in 2018, had returned 1.59 times its investors' money, PERS data showed. The core fund aims to invest in infrastructure assets that provide inflation-linked profits stemming from long-term contracts. The New York-based firm has about $52 billion in assets under management spread across the Americas, Europe, Asia and Australia.

Eastern Canada, with its strong electricity-generating winds and short shipping distance, is a prime potential source for green hydrogen. Most hydrogen output uses natural gas or coal, called gray hydrogen, but companies want to produce green hydrogen without emissions by separating hydrogen from oxygen in water using wind-powered electrolyzers. Green hydrogen is typically more expensive, but soaring natural gas prices have elevated gray hydrogen production costs above those of green hydrogen, according to an October report. GERMANY-CANADA HYDROGEN PARTNERSHIPGermany and Canada signed a non-binding agreement in August to ship clean Canadian hydrogen to Germany by 2025. "We believe in green energy, but we don’t believe in destroying nature for a profit or supplying Germany," Rowe said.

☆ EXCLUSIVE KKR raises $6 bln for biggest Asia infrastructure fund -sources
▼ + stars: | 2022-10-28 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

HOTBED FOR DEALSLike the debut infrastructure fund that made more than a dozen investments, KKR's latest one will target renewables, telecom towers, power, utilities and transportation infrastructure, among others, the sources said. This year alone, funds backed by the likes of KKR, Macquarie, infrastructure investors DigitalBridge (DBRG.N) and Stonepeak have struck deals for tens of thousands of telecom towers in the Philippines. Earlier this month, a top executive at Permodalan Nasional Bhd, Malaysia's largest asset manager, told Reuters that it plans to add infrastructure assets into its portfolio from 2023. Last year, 19 Asia Pacific-focused infrastructure funds raised a total of $10.3 billion, Preqin data showed. Last month, Neil Arora, a veteran infrastructure dealmaker from Macquarie, joined KKR as the head of its energy transition team for Asia Pacific.

[1/2] The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. The involvement of the previously unnamed financial backers of Trump Media & Technology Group (TMTG) – parent company of social media app Truth Social – shows how Trump tapped his political supporters to launch an outlet aimed at political conservatives and libertarians after he was banned from Twitter and Facebook following the Jan. 6, 2021 attack on Congress. TMTG launched Truth Social in February in the Apple App Store and in Google’s Play Store in October. Truth Social has been downloaded 2.9 million times across both platforms, according to market tracker Appfigures. Trump had 4.37 million followers on Truth Social as of Oct. 27, compared to the more than 88 million followers he had on Twitter when the platform permanently suspended him.

[1/2] The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/IllustrationOct 28 (Reuters) - Ever since former U.S. President Donald Trump launched a new media company aimed at rivaling Twitter, there has been a mystery over who provided the money. TMTG launched Truth Social in February in the Apple App Store and in Google’s Play Store in October. Truth Social has been downloaded 2.9 million times across both platforms, according to market tracker Appfigures. Trump had 4.37 million followers on Truth Social as of Oct. 27, compared to the more than 88 million followers he had on Twitter when the platform permanently suspended him.

☆ Wall Street's biggest investors can't shake a nightmare about the US economy. And that fear is much worse than a recession.
▼ + stars: | 2022-09-18 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

Talk of a recession, rough inflation data, and the persistent increase in costs of certain staple goods has got Wall Street's biggest investors living in fear of an economic nightmare. Wall Street has been hit by a brutal market sell-off this year. Wall Street investors fear an economic nightmare. BMO Capital Markets is cutting jobs amid the broader downturn in dealmaking, according to Bloomberg. Private-equity investment firm Corsair has made an investment in Miracle Mile Advisors, a wealth advisory firm based in Los Angeles.

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