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Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsLONDON, Oct 8 (Reuters) - British specialist lender Shawbrook made an offer for rival Co-op Bank and is weighing a fresh bid for embattled Metro Bank (MTRO.L), people familiar with the matter told Reuters on Sunday. Separately, Shawbrook is considering a potential new bid for London-listed Metro Bank after several failed approaches earlier in the year, the sources said. Shawbrook, Pollen Street and Co-op Bank declined to comment. Britain's Prudential Regulation Authority (PRA) is sounding out buyers over the weekend in hopes of finding a solution for ailing Metro Bank before markets open on Monday morning.

Persons: Hannah McKay, Shawbrook, Pablo Mayo Cerqueiro, Amy, Jo Crowley, Iain Whithers, Ros Russell Organizations: Metro Bank, REUTERS, Bank, Reuters, BC Partners, Pollen, London, Partners, Prudential, Authority, Thomson Locations: London, Britain, British

Birkenstock would end up raising $1.58 billion at the top of the range. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand. To leave less to chance, Birkenstock launched the roadshow for its IPO last week with some investors lined up. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers.

Persons: Birkenstock, Financière Agache, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Anirban Sen, Chris Reese Organizations: Birkenstock Holding, U.S, Arm Holdings, Nike Inc, Partners, Norges Bank Investment Management, Thomson Locations: New York, Langen, French, Birkenstock

☆ Hipgnosis shareholders preparing to block to music rights deal - FT
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] A headset is seen in front of displayed Hipgnosis logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - Major shareholders in music investor Hipgnosis Songs Fund (SONG.L) are preparing to block the sale of a rights portfolio worth $440 million to a private fund owned by Blackstone, the Financial Times reported on Friday. Hipgnosis had said the deal would help fund a share buyback, pay down debt and bolster its stock price. One of the top 10 investors in the company said that the price being offered by Blackstone was not high enough, according to the FT report. Reporting by Eva Mathews in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hipgnosis, Shakira, Nelly, Blackstone, Eva Mathews, Saumyadeb Organizations: REUTERS, Blackstone, Financial Times, U.S, Thomson Locations: Bengaluru

☆ Two groups, including Apollo, bidding for SAS airline -Aftenposten
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

[1/3] SAS Link's Embraer E195 aircraft lands at Kastrup Airport, as pilots of Scandinavian Airlines go on strike, in Kastrup, Denmark July 4, 2022. TT News Agency/Johan Nilsson via REUTERS/File Photo Acquire Licensing RightsOSLO, Sept 29 (Reuters) - Two groups of investors, including U.S. private equity group Apollo Global Management (APO.N), are bidding for Scandinavian airline SAS (SAS.ST), Norwegian daily Aftenposten reported on Friday, citing unnamed sources. It was not immediately clear who was leading the second group of investors, the newspaper added. Sources told Reuters in early May that Apollo hoped to take a majority stake in the Nordic airline. SAS had said that any bids in an equity fundraising would need to include the Danish state, which currently has a 22% stake.

Persons: Johan Nilsson, Apollo, Nerijus Adomaitis, Terje Solsvik, Nick Zieminski Organizations: SAS, Embraer, Scandinavian Airlines, TT News Agency, REUTERS, Rights, Apollo Global Management, Reuters, Nordic, Thomson Locations: Kastrup, Denmark, Rights OSLO, United States, Danish

At Kokusai's indicative price of 1,890 yen per share, the company will offer 111.2 billion yen ($749.88 million) worth of shares and have a market value of 435.5 billion yen. A successful listing would follow the blockbuster New York IPO of SoftBank-owned chip designer Arm , which investors hoped would lead to a wave of stock market launches. IPO activity has remained strong in Japan, where the stock market is at 33-year highs and interest rates ultra low. Kokusai reported operating profit fell by a fifth to 56 billion yen in the year ended March compared to the same period a year earlier. Sales were roughly flat at 245.7 billion yen.

Persons: Miho Uranaka, Kokusai, chipmaker TSMC, TW, Sam Nussey, Makiko Yamazaki, Christopher Cushing Organizations: REUTERS, KKR, Materials, Kokusai, Tokyo Stock Exchange, Industry, Reuters, Marelli Holdings, Thomson Locations: Tokyo, Japan, TOKYO, China, York

☆ Ambani’s retail backers dispel only a little doubt
▼ + stars: | 2023-09-15 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

Asia’s richest man is raising fresh funds to trim debt and expand the shopping unit of his flagship Reliance Industries (RELI.NS). Ambit Capital, a broking firm, for example ascribes Reliance Retail a $57 billion valuation in a sum of the parts analysis, almost half Bernstein’s estimated $111 billion. Any financial haze around Reliance Retail will naturally clear whenever it publishes a detailed listing prospectus. U.S. private equity giant KKR will invest 20.7 billion rupees ($250 million) into Reliance Retail Ventures, the company’s parent Reliance Industries said on Sept. 11. Reliance Retail is a subsidiary of Reliance Industries.

Persons: Mukesh Ambani, Thakore, Singapore’s GIC, Bernstein, Una Galani, Thomas Shum Organizations: Reuters, Reliance Industries, KKR, Abraham, Qatar Investment, U.S, Reliance Retail, Abu Dhabi Investment Authority, Saudi Arabia’s Public Investment Fund, Reliance, HK, India’s Reliance Industries, Reliance Retail Ventures, Thomson Locations: MUMBAI, Qatar, Abu Dhabi, China, Singapore, Saudi Arabia

☆ Music investor Hipgnosis to sell catalogues to bolster shares
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Shakira performs during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. The sale includes a portfolio of 29 music catalogues and a collection of non-core songs to a partnership between its investment adviser and funds advised by U.S. private equity group Blackstone (BX.N), Hipgnosis said on Thursday. Founder Merck Mercuriadis is the CEO and founder of the investment adviser, Hipgnosis Song Management (HSM), and holds a minority interest in the buyer, Hipgnosis Songs Capital. Hipgnosis Songs Fund will retain ownership of seven of its ten largest catalogues, it added. Last week, Alchemy Copyrights agreed to buy music copyright-focussed investment firm Round Hill Music Royalty Fund (RHM.L) for about $468.8 million.

Persons: Shakira, Brendan Mcdermid, Nelly, Hipgnosis, Peppers, Neil Young, Blondie, Merck Mercuriadis, HSM, Aby Jose Koilparambil, Janane Venkatraman, Elaine Hardcastle Organizations: Prudential Center, REUTERS, U.S, Blackstone, Blackstone Inc, FTSE, Royalty, Thomson Locations: Newark , New Jersey, U.S, Bengaluru

☆ The Brooklyn landlord everyone hates could soon come to your neighborhood. Tenants warn these private equity groups are raising rent and ignoring maintenance issues.
▼ + stars: | 2023-08-16 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Private equity firms have bought up hundreds of smaller apartment buildings in trendy New York neighborhoods. Private equity firms own a very small, but growing, fraction of American real estate. Some argue that private equity, hedge funds, and other institutional investors are a convenient target and are being unfairly blamed for the nation's worsening housing affordability crisis. The recent increase in private equity purchases, particularly of single-family homes, has drawn scrutiny, including from Congress, over the last few years. Democrats also couldn't reach agreement on measures that would have boosted tenant protections, including rent stabilization and eviction protections.

Persons: Kathy Hochul's, Hochul Organizations: Service, Carlyle Group, The New York Times, Conway Capital, Peak Capital Advisors, Times, Institutional, New York Gov, Democrats Locations: New York, Brooklyn, Wall, Silicon, gentrifying, Queens, Bushwick, Bedford, Stuyvesant, Williamsburg, Ridgewood , Queens, York City, Brooklyn's Gowanus

☆ TPG approaches EY about buying stake in consulting arm - FT
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The logo of Ernst & Young is seen in Zurich, Switzerland November 13, 2020. REUTERS/Arnd Wiegmann/file photo Acquire Licensing RightsAug 15 (Reuters) - Private equity group TPG Capital has approached accounting giant Ernst & Young (EY) about buying a stake in its consulting arm, Financial Times reported on Tuesday, citing a letter it had reviewed. TPG outlined its plan for a debt-and-equity deal to separate the consulting arm from EY's audit business in a letter sent to the firm's global and U.S. bosses, the FT report added. TPG and EY did not immediately respond to Reuters' requests for a comment. In September last year, EY announced its plans to split its audit and consulting units into two companies after regulators voiced concerns that the audit arm would not do its job fairly for its client if it also employed EY as a consultant.

Persons: Young, Arnd, EY, Manya Saini, Shilpi Majumdar Organizations: Ernst, REUTERS, TPG Capital, Financial, TPG, EY, Big, Thomson Locations: Zurich, Switzerland, U.S, Bengaluru

☆ Acquisition of Adani Capital opens access to India's 'underbanked' market, Bain says
▼ + stars: | 2023-08-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

U.S. private equity group Bain Capital said its recent agreement to buy Adani Capital was aimed at tapping the "underbanked" segment of India's economy. In July, the Boston-based firm agreed to acquire 90% of Adani Capital and Adani Housing, buying out all of Indian billionaire Gautam Adani's family's private stake in the company. The deal will provide a crucial lending perform to India's micro, small and medium enterprises — a market that is growing rapidly, said Barnaby Lyons, a partner and global co-head of Bain Capital Special Situations. "Just the structurally underbanked nature of the economy means that there is a ... need for innovative finance platforms like Adani Capital," he told CNBC's "Street Signs Asia" on Thursday. "This specific business sits in a segment — small lending to micro SMEs, the agricultural space and affordable housing, which actually benefits from some of the best demand supply dynamics."

Persons: Gautam Adani's, Barnaby Lyons, CNBC's, Lyons Organizations: Group, Bain Capital, Adani, Bain Locations: Mumbai, India, Boston

☆ Francisco Partners & TPG to take New Relic private in $6 billion all-cash deal
▼ + stars: | 2023-07-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A consortium led by Francisco Partners and private equity group TPG will take software provider New Relic private in an all-cash, $87-a-share offer that values the company at nearly $6.5 billion, the company announced Monday. Reuters reported in May that Francisco Partners and TPG had ended deal talks after failing to secure enough debt financing to meet New Relic's desired valuation. Since that report, the private equity groups were able to obtain financing and meet New Relic's valuation requirements. Under the terms of the deal, New Relic will have a 45-day "go-shop" period, during which it can entertain offers from other qualified bidders. Francisco Partners is a technology-focused private equity firm with past investments in Barracuda Networks, On Semiconductor , and K2.

Persons: Lew Cirne, Jana, Zscaler Organizations: Francisco Partners, TPG, New York Stock Exchange, Reuters, New, Jana Partners, Barracuda Networks, Semiconductor, Sumo Logic

☆ How lip fillers and laser hair removal are plumping up private equity
▼ + stars: | 2023-07-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +8 min

Sixth Street, Blackstone, and Ares have backed providers of treatments like laser hair removal. Laser hair removal, body contouring, filler injections — it's not just TikTok and Instagram where people are talking about their latest treatments. The space is another consumer-focused vertical, like dentistry and dermatology, that private equity firms, big and small, are aggressively pushing into. Christian Karavolas, who owns laser hair removal specialist Romeo & Juliette in New York City, said he's turned away offers by private equity investors. Laser hair removal, for instance, isn't considered a medical procedure in every state.

Persons: Ares, It's, Levine, Leonard Green, Blackstone, Levine Leichtman, Christian Karavolas, Juliette, he's, Karavolas, Alex Thiersch, Thiersch, Chanel, Dior, David Yurman, Louis Vuitton, isn't, Sevana Petrosian, Eva Longoria Bastón, SEV, Andrew Schwartz, Schwartz, Heravi Organizations: Sixth, Blackstone, Levine Leichtman Capital Partners, Leonard Green & Partners, Boston Consulting, Industry, KKR, SkinSpirit, Walmart, ORIX Venture Finance, TPG, General Atlantic, Wax Center, Med Spa Association, Getty, Consumers Locations: Blackstone, Milan, LaserAway, California, New York City, H.I.G, Manhattan, Burbank , California

☆ Australia’s $2.5 trln pension stash is one to envy
▼ + stars: | 2023-07-26 | by ( Antony Currie | ) www.reuters.com time to read: +7 min

Sure, mining giant BHP (BHP.AX) has its headquarters in Australia’s second-most populous city, it’s a self-anointed coffee capital and boasts top-notch restaurants. Two other factors have capital-hungry institutions knocking on super funds’ doors. This is especially true of so-called industry funds that are mutually owned and initially catered to specific sectors such as higher education employees or hospitality workers. Daniel Andrews, premier of Victoria, has earmarked industry super funds as minority investors in a state-run plan to build renewable energy plants. Recent ructions in real estate have prompted some super funds to reassess whether the risk and complexity are justified.

Persons: dwarfing, AustralianSuper, California’s CalPERS, London’s, Paul Schroder, Hostplus, Anthony, Daniel Andrews, Breakingviews, outsized, Peter Thal Larsen, Thomas Shum Organizations: MELBOURNE, Reuters, Australian Stock Exchange, Association, Retirement, Canada, Plan Investment Board, Prudential Regulation Authority, APRA, Coal, IFM, Vienna Airport, KPMG, Reuters Graphics, Australian, Trust, Macquarie, Victorian State Department of, UniSuper, Sydney Airport, Victoria, Blackstone, CVC, Thomson Locations: Hong Kong, Melbourne, Australia’s, it’s, Australia, Heathrow, Edinburgh, Europe, United States, Indiana, New York, London

☆ Nasdaq futureproofs itself, but at 2021 prices
▼ + stars: | 2023-06-12 | by ( John Foley | ) www.reuters.com time to read: +3 min

NEW YORK, June 12 (Reuters Breakingviews) - Nasdaq (NDAQ.O) is catapulting itself into the future - but paying yesterday’s high prices to get there. She pursued this one with gusto, though: Adenza wasn’t for sale when Nasdaq started wooing Thoma Bravo, say people familiar with the situation. Little wonder Nasdaq shares plunged over 10% on Monday. The U.S.-based exchange operator would pay just under $5.8 billion in cash and the rest in new Nasdaq shares, leaving Thoma Bravo with a 14.9% stake. Nasdaq shares had fallen 9.4% by 10.00am EST on June 12.

Persons: Thoma, Adena, Friedman, Bob Greifeld, Adenza, Thoma Bravo, Jonathan Guilford, Sharon Lam Organizations: YORK, Reuters, Nasdaq, Thoma Bravo, Calypso Technology, Thomson Locations: U.S

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

☆ UK supermarket Asda to buy petrol stations operator EG Group UK
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +1 min

British supermarket group Asda said it would buy petrol station operator EG Group's UK and Ireland business to accelerate its move into the convenience sector, creating a company with combined revenues of nearly 30 billion pounds ($38 billion). Asda, Britain's third-largest grocer, and EG are both owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. The deal, which includes around 350 petrol stations and over 1,000 food-to-go locations, values EG at 2.27 billion pounds, including debt, the groups said on Tuesday. 2 supermarket and the deal will enable it to roll out Asda Express across the EG petrol estate. Since the Issa brothers bought Asda in 2021, 166 EG sites have already been converted to the "Asda on the Move" format.

☆ UK's Asda to buy EG petrol stations unit in $2.9-bln deal
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +2 min

Asda, Britain's third-largest grocer, and EG are both owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. The unit of around 350 petrol stations and over 1,000 food-to-go locations will be valued at 2.27 billion pounds. The deal will help spur Asda in its drive to overtake Sainsbury's (SBRY.L) and become Britain's No. 2 supermarket as it rolls out the Asda Express across the EG petrol estate. The Issa brothers bought Asda in 2021 and have already converted 166 EG sites to the "Asda on the Move" format.

☆ Blackstone acquires International Gemological Institute
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, May 21 (Reuters) - Private equity giant Blackstone Inc(BX.N) said it has fully acquired the jewellery certification firm International Gemological Institute (IGI) from China's Fosun(0656.HK) and the company's founding family. Blackstone acquired IGI- whose majority revenue and profits come from India- for about $530 million, said a person with direct knowledge of the matter. The statement said it had purchased an 80% stake from Fosun and 20% from the Lorie family. Founded nearly 50 years ago by the late Marcel Lorie, IGI has 29 laboratories and 18 schools of gemology in 10 countries. India's jewellery market was worth is $78.5 billion in the 2021 financial year and its one of the world's biggest, though a significant portion goes for export.

☆ Tyro Payments ends buyout discussions with Potentia after rejecting A$875 mln bid
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Australia's Tyro Payments (TYR.AX) said on Monday it has ended deal discussions with suitor Potentia Capital, months after the payment terminals firm rejected the private equity group's A$875 million ($593.5 million) buyout proposal. Potentia's decision to withdraw the offer follows Tyro granting it due diligence and engaging in "extensive negotiation" of material commercial terms, Tyro said in a statement. "Tyro also worked with Potentia to develop processes that could potentially address regulatory requirements to reduce risk to Tyro by providing increased confidence of completion in a reasonable timeframe," it added. Potentia had first offered to buy Tyro for A$1.27 per share in September, then improved its offer to A$1.60 in December. Tyro rejected both offers, saying they undervalued the company.

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.

Sembcorp, which is 49.3% owned by Singapore's state investor Temasek Holdings, has hired HSBC (HSBA.L) to run the sale of SembWaste, according to the sources. First-round of non-binding bids are due by early June, said one of the sources, declining to be named as the matter is private. Last year, SembWaste's earnings before interest, taxes, depreciation, and amortization was S$50 million ($37.75 million), one of the sources added. Last year, Singapore's asset manager Keppel consortium bought a 80% stake in environmental services firm 800 Super Holdings for S$304 million. SembWaste is one of three public waste collectors appointed by Singapore's National Environment Agency to provide waste and recyclable collection services to residential, schools and trade premises in the city-state, according to its website.

☆ Bill Nygren buys this regional bank with strong deposits, says 'inappropriate role' of short selling contributing to fears
▼ + stars: | 2023-05-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Oakmark Funds' Bill Nygren scooped up shares of Truist Financial during the first-quarter banking rout that saw the collapse of Silicon Valley Bank . According to Nygren, investors are laser-focusing on Truist's mortgage portfolio and overlooking its insurance brokerage business. TFC 1D mountain Truist shares pop on Friday The bank recently sold 20% of its insurance brokerage business to private equity group Stone Point Capital . Beyond Truist, Nygren sees several opportunities in the sector. No 'spiraling fundamental problem' Despite some resurfacing bank fears, Nygren expects the sector to fair okay over the long haul.

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

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☆ Premarket stocks: The FDIC could ask big banks to clean up $23 billion mess
▼ + stars: | 2023-03-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

While regional and mid-sized banks are behind the recent turmoil, it appears that large banks may be footing the bill. Ultimately, that means higher fees for bank customers and lower rates on their savings accounts. The law also gives the FDIC the authority to decide which banks shoulder the brunt of that assessment fee. Passing it on: Regardless of who’s charged, the fees will eventually get passed on to bank customers in the end, said Isaac. In 2021, Wall Street was estimated to be responsible for 16% of all economic activity in the city.

☆ Powell is leader of the free world – for now
▼ + stars: | 2023-03-28 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

As former President Donald Trump will attest, Powell will do what he thinks it’s right. This month, Democratic Senator Elizabeth Warren, a left-wing firebrand, went on TV and called Powell a “dangerous man,” saying she doesn’t think that he should be Fed Chair. CNN television host Jake Tapper asked her if she had told Biden that Powell should be fired. Then Trump called Powell “a golfer who can’t putt, has no touch.” Trump wanted economic growth. Powell resisted and later responded saying that the Fed chair, more than anyone else, needs to be free from political pressures.

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