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NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. Prices for U.S. property catastrophe reinsurance rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a recent report. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. In May, American International Group (AIG.N) agreed the sale of its reinsurance arm Validus Re for roughly $3 billion, or about 1.4 times the unit's book value.

Persons: Reinsurers, Hurricane Ian, Gallagher Re, David French, Pablo Mayo, Amy, Jo Crowley, Carolyn Cohn, Echo Wang, Silvia Aloisi, John O'Donnell, Conor Humphries Organizations: AXA SA, XL, Covea, AXA, AXA XL, American International, Fidelis Insurance Holdings, Reuters, Hamilton Insurance, Pablo Mayo Cerqueiro, Thomson Locations: Bermuda, New York, London, Paris

NEW YORK/LONDON, June 30 (Reuters) - A lackluster IPO market is showing signs of life as a flurry of deals in the United States and Europe raise hopes that a recovery may be in sight. With investors now predicting an end to the Federal Reserve's rate hikes later this year, optimism has resumed. This allowed thrift shop chain Savers Value Village (SVV.N) to raise $401 million in its New York IPO this week, more than it originally set out to. Investors continued to snap up its shares, with the stock closing up 27% on its first day of trading. EUROPE IPOS ON THE WAYIn Europe, three IPOs are on track to be completed by early July, but two of them have already had to moderate their valuation expectations.

Persons: Aloke Gupte, Tom Swerling, Paul Abrahimzadeh, Hidroelectrica, Fondul, WE Soda, Ferretti, Coty, Andrew Briscoe, David DiPietro, Rowe Price, Echo Wang, Pablo Mayo, Elisa Martinuzzi, Mark Potter Organizations: Investors, JPMorgan Chase &, CAB, Kodiak Gas Services, Fidelis Insurance Holdings, Barclays, North America, Citigroup, U.S, Heineken, General, GE Healthcare Technologies, Bank of, Pablo Mayo Cerquiero, Thomson Locations: United States, Europe, Ukraine, New York, London, Africa, Asia, Kodiak, Fidelis, Cava, EUROPE, Romanian, Hong Kong, Milan, East

[1/2] A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File PhotoJune 20 (Reuters) - Abu Dhabi National Oil Company (ADNOC) has approached German plastics and chemicals maker Covestro AG (1COV.DE) with a takeover proposal worth more than 10 billion euros ($10.9 billion), two people familiar with the matter said on Tuesday. The OMV deal would indirectly also increase ADNOC's holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD). SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S). Thanks to a 2007 deal to buy GE's plastics unit, SABIC competes with Covestro in polycarbonate plastics.

Persons: Christopher Pike, Abu Dhabi's, ADNOC, Sultan, Jaber, Lanxess, SABIC, Ludwig Burger, Patricia Weiss, Christoph Steitz, Hadeel Al, Greg Roumeliotis, Louise Heavens, Sharon Singleton, Elisa Martinuzzi, Alexandra Hudson Organizations: United, United Arab Emirates, REUTERS, Abu Dhabi National Oil Company, Covestro, Alexandra Hudson Our, Thomson Locations: Abu Dhabi, United Arab, Covestro, Europe, Saudi Aramco, Saudi Arabia, Swiss, Frankfurt, Hadeel Al Sayegh, Dubai

[1/2] A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. ADNOC and Covestro declined to comment. The OMV deal would indirectly also increase ADNOC's holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD). SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S). Thanks to a 2007 deal to buy GE's plastics unit, SABIC competes with Covestro in polycarbonate plastics.

June 16 (Reuters) - German bus services firm Flix, owner of the Greyhound brand in North America and FlixBus in Europe, has stepped up preparations for a possible stock-market listing, two sources familiar with the matter told Reuters. Flix has invited investment banks to pitch to manage its share sale in recent weeks, said the sources, who spoke on the condition of anonymity. U.S. corporate finance house Evercore (EVR.N) is advising Flix on the process, the sources said. Flix, set up in 2011 by three entrepreneurs in Munich to try to make bus travel cheap, runs bus and train services across 40 countries. So far this year, only one stock market listing has taken place in Germany, raising $479 million, according to Refinitiv data.

Persons: Flix, Evercore, IONOS, WE, Hidroelectrica, Emma, Victoria Farr, Pablo Mayo Cerqueiro, John O'Donnell, Barbara Lewis Organizations: Greyhound, Reuters, Atlantic, Thomson Locations: North America, Europe, Germany, Ukraine, Munich, Permira, BlackRock, London

LONDON, June 14 (Reuters) - Deutsche Bank (DBKGn.DE) has added three senior dealmakers to its team of bankers advising other financial institutions, such as insurance companies and lenders, according to a memo seen by Reuters on Wednesday and confirmed by a company spokesperson. It has hired Marie-Soazic Geffroy as global co-head of its Financial Institutions Group (FIG) from Perella Weinberg Partners (PWP.O). Based in Paris, she will lead the industry group alongside Jeff Cady, who is set to join the bank in New York from Citigroup (C.N). The bank has also appointed Chris Williams as FIG chairman for Europe, the Middle East and Africa (EMEA). Citigroup's Aaron Saperstein is also set to join Deutsche Bank in New York as head of diversified financials, covering speciality finance companies and financial technology lenders.

Persons: Marie, Soazic, Perella Weinberg, Jeff Cady, Chris Williams, Citigroup's Aaron Saperstein, Pablo Mayo Cerqueiro, Stefania Spezzati, Mark Potter Organizations: Deutsche Bank, Reuters, Group, Citigroup, Credit Suisse, Deutsche, Thomson Locations: Paris, New York, Europe, East, Africa

BERLIN, June 8 (Reuters) - Reality star Kim Kardashian's arrival at a gathering of the globe's top deal brokers in Berlin failed to dispel their dark mood as the rising cost of money puts the brakes on the private equity industry. But private equity is currently experiencing one of its toughest runs since coming of age in the 1980s as rapid rises in interest rates to combat inflation make the debt that underpins the industry scarce and expensive. "It has been easier in the past, deal flow is reduced significantly...we have to pedal harder," said Jose Pfeifer, who leads Investcorp's European private equity group, on the sidelines of SuperReturn. "Europe is doing better than expected...we are seeing opportunity in corporate carve-outs," said Marco De Benedetti, co-head of Europe private equity at Carlyle (CG.O). Emmanuel Laillier, head of private equity at Tikehau Capital, said that makes it hard to read the level of competition, although there is more flexibility in the M&A process.

Persons: Kim Kardashian's, Kardashian, Jose Pfeifer, Hythem, Marco De Benedetti, Sellers, Emmanuel Laillier, Christian Sindig, Jay Sammons, Emma, Victoria Farr, John O'Donnell, Kirsten Donovan Organizations: European Central Bank, Bundesliga, TA Associates, Carlyle, Tikehau, Thomson Locations: BERLIN, Berlin, Europe, SuperReturn

LONDON, June 7 (Reuters) - Barclays (BARC.L) is studying options for its global payments activities as a part of broader review into how it allocates resources, two people familiar with the matter told Reuters. Barclays has already engaged at least one major consultancy firm and may hire others to split assignments, this person said. "Our three businesses continue to perform well and our business mix is robust - growing our global payments business is a priority for us," a Barclays spokesperson said. The payments study comes as Barclays had also drafted Boston Consulting Group (BCG) to conduct a strategy review of the entire banking group, a person familiar with the matter told Reuters. How the bank should allocate resources between more predictable retail business and volatile returns from the investment bank has attracted investor scrutiny.

Persons: Amy, Jo Crowley, Pablo Mayo, Stefania Spezzati, Lawrence White, Alexander Smith Organizations: Barclays, Reuters, Britain's, Barclaycard, Boston Consulting, Bloomberg, BNP, HSBC, Pablo Mayo Cerqueiro, Thomson Locations: London

[1/2] The word Stock is seen on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. REUTERS/Brendan McDermidFRANKFURT, May 31 (Reuters) - Germany's Schmid Group said on Wednesday it plans to list in New York via a special purpose acquisition company (SPAC), in a deal estimated to give the technology firm a valuation of $640 million. The fifth generation family-owned business, which specialises in electronics, would become a publicly-listed company on the New York Stock Exchange in the fourth quarter of this year. The transaction will be through blank-check company Pegasus Digital Mobility Acquisition Corp (PGSS.N) led by automotive veteran Ralf Speth, it said in a statement. "We have been considering this step for some time and see the NYSE and the U.S. capital markets as much more suitable for a technology company," CEO Christian Schmid told Reuters, regarding the location of the transaction.

Persons: Brendan McDermid FRANKFURT, Germany's Schmid, Ralf Speth, Christian Schmid, Schmid, StratCap, Speth, Emma, Victoria Farr, Madeline Chambers, Emelia Organizations: New York Stock Exchange, REUTERS, Pegasus Digital Mobility, Corp, NYSE, Reuters, Pegasus, BMW, Jaguar, Rover, Thomson Locations: New York City, U.S, New York, Freudenstadt, Germany's Black

LONDON, May 17 (Reuters) - Planisware is working with investment bankers on strategic options, including a stock market listing of the French software group, four people familiar with the matter told Reuters. Rothschild (ROTH.PA) is acting as financial adviser to Planisware, two of the people, who declined to be named, said. BNP Paribas (BNPP.PA) and Citigroup (C.N) have been lined up to arrange a possible initial public offering (IPO), one person added. Private equity group Ardian, which holds an undisclosed stake in Planisware through its growth capital arm, declined to comment. In France, IPO volumes plunged in 2022 to levels similar to the first year of the COVID-19 pandemic.

Private equity firm Silver Lake has offered to buy Software AG for 32 euros per share, valuing the German software developer at 2.37 billion euros ($2.61 billion) and said it plans to take the company private. Software AG has backed the Silver Lake offer despite a higher 34-euro a share non-binding bid coming in from Bain-backed Rocket Software earlier this month. Some investors argue that the Silver Lake offer undervalues Software AG and that minorities never fare well in delistings. Software AG has faced criticism from shareholders over its handling of the sales process. Software AG, Rocket Software and Silver Lake all declined to comment.

The future of Credit Suisse's business in Switzerland is being closely watched as one of UBS's key strategic decisions. Credit Suisse's Swiss bank is one of the lender's four operating units and is seen as the jewel in the crown. In January, Credit Suisse had moved the business from its broader investment banking division into the Swiss unit, according to Credit Suisse's 2022 annual report. On a possible sale, Ermotti has said all options for the Swiss business are on the table. On Sunday, NZZ am Sonntag newspaper reported that UBS was working towards spinning off Credit Suisse's domestic unit.

LONDON, May 4 (Reuters) - U.S. private equity firm Summit Partners is looking to sell a stake in Swiss wealth manager Cinerius Financial Partners amid increasing consolidation in the sector, two people familiar with the matter told Reuters. Summit intends to bring in another private equity fund to help fund Cinerius' growth, particularly through acquisitions, one of the people said. Asset manager BlackRock Inc (BLK.N) provides debt financing for Cinerius' acquisitions through its private credit arm, the person added. BlackRock, Cinerius and Summit Partners did not respond to requests for comment. Belgian private bank Degroof Petercam is reviewing strategic options after drawing interest from rivals, Reuters reported last Friday.

It may explore a private sale alongside a stock market listing, they added. An IPO might not take place until next year, as market conditions remain challenging for new listings, one person said. LimaCorporate, which designs orthopedic implants, posted revenue of 248.6 million euros ($274.5 million) for 2022, and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 66.2 million euros. It also reported a yearly loss of 27.9 million euros after taxes. EQT was reported in 2020 to be working with advisers on a possible IPO or sale of the business, but a transaction never materialised.

LONDON, April 20 (Reuters) - British transport company FirstGroup (FGP.L) and infrastructure fund I Squared are weighing competing bids for parts of Deutsche Bahn's international transport business Arriva, according to a number of people familiar with the matter. The British transport company may also consider partnering with another bidder for the UK operations, the two added. Arriva, Deutsche Bahn, FirstGroup and I Squared declined to comment. A Bloomberg report in January suggested Arriva may now fetch as much as 2 billion euros. Binding offers for Arriva are expected in the next couple of months, two of the sources said.

FRANKFURT, April 5 (Reuters) - Thyssenkrupp (TKAG.DE) may pick June to list its hydrogen business Nucera, provided equity markets are robust, three people familiar with the matter said, in what could be a multi-billion euro initial public offering. Plans to list Nucera, a 66%-34% joint venture between Thyssenkrupp and Italy's De Nora (DNR.MI), were put on the backburner last year due to unfavourable market conditions following the war in Ukraine and subsequent energy crisis. Nucera makes the electrolysers that are needed to produce green hydrogen - a sector that is currently benefiting from the U.S. Inflation Reduction Act and European Union initiatives to support the green energy transition. Thyssenkrupp Chief Executive Martina Merz, under pressure to deliver on her pledge to turn the sprawling conglomerate into a leaner and more focused holding, said last month that the group would make a new effort to list Nucera, without elaborating. When plans for a listing of the business were first communicated in 2021, analysts valued Nucera at between 3 billion and 6 billion euros.

As part of the overhaul announced in October, it is seeking to spin off merger advice and leveraged finance into a new entity named Credit Suisse First Boston (CSFB), for which it has been seeking buyers. Credit Suisse is most valuable in separate parts, and there are high-level M&A talks taking place, said a senior banker who advises banks on deals. TAKEOVERSelling off parts of Credit Suisse could require time, which markets may not give. The two have complementary investment banking businesses -Credit Suisse is stronger in credit and UBS in equities. However, some have faith that Credit Suisse can still make it safely to the end of the tight rope.

The campaign increases the pressure on non-executive Chairman Norbert Winkeljohann, who has faced calls from large shareholders for the swift replacement of Chief Executive Werner Baumann, who engineered Bayer's troubled Monsanto takeover. The approaches come after Ubben's activist investment fund Inclusive Capital Partners said last month it had bought a 0.83% stake in Bayer. David Herro, deputy chairman of Harris Associates, told Reuters in brief emailed comments that Ubben had contacted him to discuss Bayer. A spokesperson said Bayer was always open to a constructive dialogue with shareholders and declined to comment further. Investors who have publicly called for a swift CEO change hold at least a combined 6.7% in Bayer, according to Refinitiv data.

[1/2] A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File PhotoBERLIN/LONDON, Jan 27 (Reuters) - German web hosting firm IONOS is targeting a market capitalisation of up to 3.15 billion euros ($3.42 billion) in Europe's first major initial public offering (IPO) since sports car maker Porsche last September. Subject to regulatory approval of the IPO prospectus, the offer is expected to run from Jan. 30 to Feb. 7. IPO investors are typically offered a discount to a peer group in compensation for the risk of buying a new stock. Montabaur-based IONOS offers web hosting services and cloud applications to consumers and SMEs in countries including the United States, Germany, Britain, France, Spain and Poland.

FRANKFURT, Jan 24 (Reuters) - Czech Republic-based private investment firm McWin said on Tuesday it had bought a majority stake in Germany's L'Osteria in a deal that values the Italian-themed restaurant chain at around 400 million euros ($434 million). The move is aimed at driving the chain's growth across Europe, with McWin investing alongside L'Osteria founders, Klaus Rader and Friedemann Findeis, and management. Founded in 1999, L'Osteria serves Italian food in 157 restaurants across eight European countries. The investment follows an auction process and has been made via McWin Restaurant Fund (MRF), which totals 525 million euros and was launched in August 2022. McWin's financial adviser was KPMG, while L'Osteria and its shareholders were advised by Ferber & Co and Deutsche Bank (DBKGn.DE).

FRANKFURT, Jan 18 (Reuters) - Hellman & Friedman (H&F) is weighing options for its Italian cloud software maker TeamSystem, a business which could be valued at several billion euros, two people familiar with the matter told Reuters. Private equity investors are showing interest in TeamSystem, which may also attract sovereign wealth funds, they said. Hellman & Friedman acquired TeamSystem in 2016 and in 2021 moved the company from one of its funds to another. TeamSystem, which was founded in 1979, generated revenue of 545 million euros in 2021, while posting adjusted core earnings of around 235 million euros, according to company results on its website. While a decision on its valuation is still in flux, that could mean more than 6 billion euros including debt, the person said.

BERLIN/FRANKFURT, Jan 17 (Reuters) - United Internet (UTDI.DE) subsidiary Ionos said on Tuesday it would undertake a prime standard listing of its shares this quarter on the Frankfurt Stock Exchange, as the web hosting company readies for an initial public offering (IPO). The offered shares are expected to come from the holdings of the subsidiary's two existing shareholders, United Internet and Warburg Pincus, with United Internet to retain a majority stake after the IPO, Ionos said. United Internet shares were up 1.8% to 22.23 euros in early Frankfurt trading. The intention to float document did not provide details on the target issue price or the number of shares to be offered. A source familiar with the matter told Reuters last week that Ionos could achieve a valuation of 5 billion euros ($5.42 billion) in a stake sale.

A spokesperson for Deutsche Bahn declined to comment. Schenker, which provides logistics for sea, land and air freight, recently accounted for more than a third of Deutsche Bahn's sales. "The cash flows generated as part of a sale remain entirely within the Deutsche Bahn Group," the proposal document continues. Tough financing conditions could also lead to a decision not to sell, particularly if Deutsche Bahn is not satisfied with price, two sources said. Private equity would struggle to finance such an amount unless Deutsche Bahn decided to part with a minority stake instead, this source added.

FRANKFURT, Dec 7 (Reuters) - Private equity firm Advent International has finalised negotiations to purchase Saudi Basic Industries Corporation's (2010.SE) (SABIC) polycarbonate sheets business, two sources familiar with the situation told Reuters. The transaction is an add-on acquisition for Advent's existing portfolio business Roehm, with which it plans to develop a multi-polymer business, one of the sources said. An official announcement regarding the sale of the SABIC business, known as 'functional forms', is expected later on Wednesday, the same source added. Polycarbonate sheets are transparent thermoplastics that absorb minimal moisture, making them resistant to impact damage as well as water damage, flames and chemicals. DSM sold its engineering materials for 3.85 billion euros to Advent and German chemicals company Lanxess, announced late in May.

FRANKFURT, Nov 28 (Reuters) - U.S. buyout firm Carlyle Group (CG.O) has raised more than three billion euros ($3.12 billion) for a pan-European technology fund that is taking advantage of "pockets of life" in the economy, the co-heads of Carlyle Europe Technology Partners told Reuters. Carlyle aims to invest in approximately 20-30 companies through the new fund and in most cases will buy a majority stake. It will, however, reserve about 15% of the fund for growth equity transactions, Wand and Lasocki said. The fund will write equity cheques of up to 250 million euros, resulting in deals from between 100 million euros and 500 million euros in enterprise value, they said. Targeting B2B technology businesses in Europe, Carlyle will support portfolio firms with plans to become more international, for example breaking into the U.S. market.

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