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Search resuls for: "Pamela Barbaglia"


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LONDON/MILAN (Reuters) - A consortium of buyout fund Apax and digital services firm Reply has dropped out of the auction process for Italian banking software firm Cedacri, two sources told Reuters, leaving three bidders vying for control of the 44-year old business. Dublin-based software and financial-data provider ION, led by Italian businessman Andrea Pignataro, is the third bidder left in the process, the sources said. Private equity fund Apax had teamed up with Reply to provide industry expertise but its bid failed to progress, the sources said. The company, led by boss Corrado Sciolla, is backed by Italian state-backed fund FSI, with a 27% stake, and by another 14 financial institutions including Unipol and Banca Mediolanum. Its investors hope to take advantage of whopping valuations for fintech assets and could receive binding offers valuing the company at between 1 and 1.5 billion euros, the sources said.
Persons: Andrea Pignataro, Cedacri, Apax, Corrado Sciolla Organizations: Reuters, Accenture, Engineering, Bain Capital, ION, Deutsche Bank, Unipol, Banca Mediolanum Locations: MILAN, Dublin, Italian, Parma
Slideshow ( 2 images )ROME/LONDON/MILAN (Reuters) - Italy has picked Bank of America and Orrick as financial and legal advisers to help the Treasury secure a merger deal for bailed-out bank Monte dei Paschi as part of its privatization plan, three sources close to the matter told Reuters. Rome aims to clinch a merger with a healthier peer in 2021, the sources said, to secure a long-term solution for the bank, which is dogged by legal risks and poor quality assets. Monte dei Paschi (MPS) has said its capital buffers are set to fall below minimum requirements early next year, hit by the cost of a bad loan clean-up it is about to complete as well as provisions against legal risks following the conviction of former top executives. Italy’s Treasury and Orrick were not immediately available for comment, while Bank of America declined to comment.
Persons: Orrick Organizations: of America, Treasury, Reuters, Monte, Italy’s Treasury, Bank of America Locations: ROME, MILAN, Italy, dei, Rome
FILE PHOTO: A man walks in front of the Monte dei Paschi bank in Siena, central Italy, January 29, 2016. Italy’s Treasury and Bank of America declined to comment, while Orrick was not immediately available. Rome is expected to pay about 150,000 euros in financial and legal fees, with the lion’s share going to Bank of America, the sources said. Rome has set aside 1.5 billion euros to shore up MPS but the bank faces a shortfall of at least 2 billion, sources have said. In the case of MPS, that entails a 3 billion euro earnings boost, sources have said.
Persons: Max Rossi, Giorgio Cocini, Patrizio Messina, Marco Nicolini, Orrick, Jean Pierre Mustier, Organizations: Treasury, of America, REUTERS, Bank, America’s, Bank of America, UBI Banca, MPS, Banco Locations: MILAN, dei, Siena, Italy, Tuscany, Rome
LONDON/ATHENS (Reuters) - Greek lender Alpha Bank ACBr.AT has selected U.S. investment fund Davidson Kempner as its preferred bidder to buy a $12 billion portfolio of non-performing loans in what will be Greece's largest-ever sale of bad debt, sources told Reuters. Alpha Bank declined to comment while Davidson Kempner and PIMCO were not immediately available. But only Davidson Kempner and PIMCO made binding offers and advanced to the final stages of the auction, with Alpha’s board selecting Davidson Kempner as its preferred bidder after a board meeting on Friday. Cepal, with a headcount of about 900, will be servicing the portfolio of bad loans that Davidson Kempner is expected to buy, in addition to non-performing loans of other parties. The decision to negotiate a deal with Davidson Kempner could be announced early next week, the sources said.
Persons: Alpha Bank ACBr.AT, Davidson, Davidson Kempner, Banks, Cerved, Credito Fondiario, PIMCO, Cepal, Davidson Kempner’s, Greece's Eurobank, doValue Organizations: Alpha Bank, REUTERS, Galaxy, U.S, Pacific Investment Management Company, European Union, Alpha Locations: ATHENS, Athens, Greece, Centerbridge, Cairo
Buyout fund EQT in early takeover talks with KPN: source
  + stars: | 2020-11-12 | by ( Pamela Barbaglia | ) www.reuters.com + 0.00   time to read: +2 min
LONDON/AMSTERDAM (Reuters) - European private equity fund EQT is holding preliminary talks with KPN NV KPN.AS over a possible takeover bid that could value the largest Dutch telecommunications company at about $13 billion, a source with knowledge of the matter said. Slideshow ( 2 images )EQT has approached both KPN’s management and the Dutch government in recent weeks to discuss a possible deal, the source said. The buyout fund, founded in Sweden in 1994 and led by Chief Executive Christian Sinding, is working with JPMorgan JPM.N on a possible deal, the source said, but negotiations are still at an early stage and no deal is certain. EQT and KPN declined to comment while America Movil was not immediately available. An attempt to buy KPN for 8 euros per share in 2013, by America Movil, floundered on KPN’s poison pill defences, which are still in place.
Persons: EQT, Christian Sinding, America Movil, KPN, Joost Farwerck, we’re, , Farwerck Organizations: KPN, Chief, JPMorgan JPM.N, America, Bloomberg, Mobile, Economic Affairs Locations: AMSTERDAM, Sweden, Netherlands
Gridlock, in its own way, can be seen as a stabilizer, as we saw during the Obama administration,” said Cary Kochman, co-head of global M&A at Citigroup Inc. Had Democrats taken control of Congress, dealmakers said the most disruptive aspects of Biden’s agenda would have been tax hikes. BARRIERS TO CHINESE ACQUISITIONS TO STAYScrutiny of Chinese takeovers of U.S. companies, which intensified under Trump, is expected to continue, dealmakers said. Deep U.S. suspicion of China’s economic power, technological advances and accounting standards will likely result in many of the hurdles to cross-border investments remaining in place under Biden, dealmakers said. One corporate sector that could be a major beneficiary of the election outcome is the oil and gas industry, dealmakers said.
Persons: Joe Biden’s, dealmakers, Kamala Harris, Joe Biden, Biden, Andrew Harnik, Donald Trump, , Peter Orszag, Barack Obama, ” Orszag, Trump, Obama, Cary Kochman, Dealmakers, Bill Curtin, Hogan Lovells, Patrick Sarch, Nestor Paz, Galindo, Vito Sperduto Organizations: Republican Party, U.S, Senate, Democratic, REUTERS Bankers, Democratic Party, Republican, House, Lazard Ltd, Republicans, “ Corporate, Citigroup Inc, White, Case, Trump, UBS Group AG, Biden, Royal Bank of Canada Locations: Wilmington , Delaware, U.S, Georgia, United States
Gridlock, in its own way, can be seen as a stabilizer, as we saw during the Obama administration," said Cary Kochman, co-head of global M&A at Citigroup Inc C.N. Had Democrats taken control of Congress, dealmakers said the most disruptive aspects of Biden’s agenda would have been tax hikes. BARRIERS TO CHINESE ACQUISITIONS TO STAYScrutiny of Chinese takeovers of U.S. companies, which intensified under Trump, is expected to continue, dealmakers said. Deep U.S. suspicion of China’s economic power, technological advances and accounting standards will likely result in many of the hurdles to cross-border investments remaining in place under Biden, dealmakers said. One corporate sector that could be a major beneficiary of the election outcome is the oil and gas industry, dealmakers said.
Persons: Joe Biden’s, dealmakers, Kamala Harris, Joe Biden, Biden, Andrew Harnik, Donald Trump, Peter Orszag, Barack Obama, ” Orszag, Trump, Obama, Cary Kochman, Dealmakers, , Bill Curtin, Hogan Lovells, Patrick Sarch, Nestor Paz, Galindo, Vito Sperduto Organizations: Republican Party, U.S, Senate, Democratic, REUTERS Bankers, Democratic Party, Republican, House, Lazard, Republicans, Citigroup Inc, White, Case, Trump, UBS Group AG UBSG.S, Biden, Royal Bank of Canada Locations: Wilmington , Delaware, U.S, Georgia, United States
LONDON (Reuters) - Lazard Ltd has hired restructuring banker Sam Whittaker from PJT Partners to oversee negotiations between companies and their creditors across Europe, the Middle East and Africa as a second wave of COVID-19 leaves many businesses fighting for survival. REUTERS/Brendan McDermidWhittaker, who started his banking career at Lazard LAZ.N in 2005 and then moved to fellow investment bank PJT in 2015, will re-join Lazard as a London-based managing director in its EMEA restructuring franchise. The 45-year old Briton will work closely with David Burlison, who co-heads Lazard’s EMEA restructuring practice, and Chris Mallon, who joined Lazard in April as a senior adviser. “The second wave of coronavirus has made capital requirements even more acute and exacerbated the need for a comprehensive debt restructuring,” Burlison said. Burlison said restructuring mandates are the result of cooperation between various parts of the bank, including debt and equity capital markets as well as M&A advisory.
Persons: Sam Whittaker, Brendan McDermid Whittaker, David Burlison, Chris Mallon, , Sam, ” Burlison, Houlihan Lokey, James Simpson, Lazard, , Alexandre, Lazare, Simon Lazard, Burlison, David Burlison, Chris Mallon, Abengoa Organizations: Lazard Ltd, PJT Partners, New York Stock Exchange, REUTERS, Lazard LAZ.N, Lazard, Reuters, The, Oil, NMC Health, Lazard Frères, New York, REUTERS/Brendan McDermid Whittaker, Lazard Frères & Co Locations: Europe, East, Africa, New York, U.S, London, The U.S, New Orleans, French, United States
LONDON/NEW YORK (Reuters) - Italian payments technology firm Nexi NEXII.MI is leading negotiations to buy Nordic rival Nets in an all-stock deal worth about $10 billion after trumping competition from U.S. firm Global Payments GPN.N, four sources told Reuters. The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. Nexi, Nets, Hellman & Friedman and Global Payments declined to comment. While Fiserv immediately dropped out, Global Payments made an all-cash proposal that would have allowed Hellman & Friedman to fully cash out of Nets, the sources said. But earlier this week Global Payments decided to abandon the Nets deal.
Persons: Alessandro Garofalo, Hellman, Friedman, Patrick Healy, Fiserv, Jeff Sloan, , Nexi’s, they’re, France's Worldline, Nexi, Paolo Bertoluzzo, Patrick Healy Organizations: Nordic, Nets, Reuters, REUTERS, Credit Suisse CSGN.S, Hellman, Friedman, Global, U.S, Payments, Global Payments, Bain Capital, Advent International, Mercury, Centerview Partners, SIA, Cassa, CCV Schweiz SA, LONDON/NEW YORK (Reuters), Italy, Credit Suisse, Nexi, Nets, Hellman & Friedman, Centerview Partners Locations: U.S, Milan, Italy, Central, Eastern Europe, Copenhagen, Denmark, Germany, Poland, Europe, Milan
LONDON/NEW YORK (Reuters) - Italian payments technology firm Nexi NEXII.MI is leading negotiations to buy Nordic rival Nets in an all-stock deal worth about $10 billion after trumping competition from U.S. firm Global Payments GPN.N, four sources told Reuters. The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. Nexi, Nets, Hellman & Friedman and Global Payments declined to comment. While Fiserv immediately dropped out, Global Payments made an all-cash proposal that would have allowed Hellman & Friedman to fully cash out of Nets, the sources said. But earlier this week Global Payments decided to abandon the Nets deal.
Persons: Alessandro Garofalo, Hellman, Friedman, Patrick Healy, Fiserv, Jeff Sloan, , Nexi’s, they’re, France's Worldline, Nexi, Paolo Bertoluzzo, Patrick Healy Organizations: Nordic, Nets, Reuters, REUTERS, Credit Suisse CSGN.S, Hellman, Friedman, Global, U.S, Payments, Global Payments, Bain Capital, Advent International, Mercury, Centerview Partners, SIA, Cassa, CCV Schweiz SA, LONDON/NEW YORK (Reuters), Italy, Credit Suisse, Nexi, Nets, Hellman & Friedman, Centerview Partners Locations: U.S, Milan, Italy, Central, Eastern Europe, Copenhagen, Denmark, Germany, Poland, Europe, Milan
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