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Top related persons:
Manya Saini - 3 Hannah Lang - 3 BNPL - 2 Brett Horn - 2 Horn - 2 Arun Koyyur - 2 Will Dunham - 2 Andrew Kelly - 1
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Thomson - 3 KKR - 2 PayPal - 2 Morningstar Research Services - 2 Inc - 1 REUTERS - 1 United States Marshal Service - 1 Emergent Fidelity Technologies - 1

Search resuls for: "Manya Saini Hannah Lang"


4 mentions found


☆ Robinhood to buy back Bankman-Fried's stake from US government for $605.7 million
  + stars: | 2023-09-01 | by ( Manya Saini Hannah Lang | Manya Saini | Hannah Lang | ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 1 (Reuters) - Robinhood (HOOD.O) said on Friday it had entered into a share repurchase agreement with the United States Marshal Service (USMS) for $605.7 million to buy back stock from Sam Bankman-Fried's Emergent Fidelity Technologies. The shares of Robinhood were seized and subsequently transferred to the custody of the U.S. government after Bankman-Fried's FTX and Emergent filed for bankruptcy protection last year. Robinhood shares climbed more than 3% in premarket trading on the news. The online brokerage said the sale of the 55.3 million shares at $10.96 apiece had been approved by the U.S. District Court for the Southern District of New York. Robinhood first disclosed its intention to buy back the stake in February and said the company's board had authorized it to pursue purchasing most or all of the stock.
Persons: Andrew Kelly, Sam Bankman, Robinhood, Fried, FTX, Palo, Manya Saini, Hannah Lang, Devika Syamnath, Mark Potter Organizations: Inc, REUTERS, United States Marshal Service, Emergent Fidelity Technologies, U.S, Southern, of, Reuters, Thomson Locations: New York City, U.S, Robinhood, of New York, United States, Manhattan, Palo Alto , California, Bengaluru, Washington
☆ KKR to buy up to $44 bln of PayPal's buy now, pay later loans in Europe
  + stars: | 2023-06-20 | by ( Manya Saini Hannah Lang | Manya Saini | Hannah Lang | ) www.reuters.com   time to read: +2 min
June 20 (Reuters) - Private equity firm KKR (KKR.N) has agreed to purchase a substantial portion, or up to 40 billion euros ($43.71 billion), of payments company PayPal's (PYPL.O) buy now, pay later (BNPL) loans in Europe, the companies said on Tuesday. After the deal closes, PayPal expects to allocate roughly $1 billion to incremental share repurchases in 2023, contributing to an updated outlook of about $5 billion in total share repurchases so far this year. PayPal last year processed more than $20 billion of BNPL payment volume globally, up nearly 160% from 2021. Since launching its BNPL service in 2020, PayPal has issued more than 200 million loans to more than 30 million customers globally. The company said it will continue to remain responsible for all customer-facing activities, including underwriting and servicing associated with its European BNPL products.
Persons: BNPL, Brett Horn, Horn, Manya Saini, Hannah Lang, Arun Koyyur, Will Dunham Organizations: KKR, PayPal, Morningstar Research Services, Thomson Locations: Europe, France, Germany, Italy, Spain, United Kingdom, Bengaluru, Washington
☆ KKR to buy up to $44 billion of PayPal's buy now, pay later loans in Europe
  + stars: | 2023-06-20 | by ( Manya Saini Hannah Lang | Manya Saini | Hannah Lang | ) www.reuters.com   time to read: +2 min
June 20 (Reuters) - Private equity firm KKR (KKR.N) has agreed to purchase a substantial portion, or up to 40 billion euros ($43.71 billion), of payments company PayPal's (PYPL.O) buy now, pay later (BNPL) loans in Europe, the companies said on Tuesday. After the deal closes, PayPal expects to allocate roughly $1 billion to incremental share repurchases in 2023, contributing to an updated outlook of about $5 billion in total share repurchases so far this year. PayPal last year processed more than $20 billion of BNPL payment volume globally, up nearly 160% from 2021. Since launching its BNPL service in 2020, PayPal has issued more than 200 million loans to more than 30 million customers globally. The company said it will continue to remain responsible for all customer-facing activities, including underwriting and servicing associated with its European BNPL products.
Persons: BNPL, Brett Horn, Horn, Manya Saini, Hannah Lang, Arun Koyyur, Will Dunham Organizations: KKR, PayPal, Morningstar Research Services, Thomson Locations: Europe, France, Germany, Italy, Spain, United Kingdom, Bengaluru, Washington
☆ DCG's crypto broker Genesis owes creditors more than $3 bln - source
  + stars: | 2023-01-12 | by ( Manya Saini Hannah Lang | Manya Saini | Hannah Lang | ) www.reuters.com   time to read: +1 min
Jan 12 (Reuters) - Crypto broker Genesis owes creditors more than $3 billion, a person familiar with the matter told Reuters, as woes pile up for its owner, venture capital company Digital Currency Group (DCG). DCG is considering offloading parts of its venture capital holdings to raise money, the Financial Timesreported Thursday. DCG's portfolio includes 200 crypto-related projects such as exchanges, banks and custodians in at least 35 countries, and are worth about $500 million, the report added. Meanwhile, its parent DCG saw calls from Cameron Winklevoss, co-founder of crypto exchange Gemini, for the removal of DCG's chief executive officer, Barry Silbert, earlier this week amid tensions between the high-profile executives. Stamford, Connecticut-based DCG is also the parent company of several high-profile crypto firms, including crypto asset manager Grayscale.
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