Aramco is considering the sale of a stake in its vast natural gas pipeline network to help free up cash and draw more international investors to Saudi Arabia, people familiar with the matter said.
(Bloomberg) Aramco is considering the sale of a stake in its vast natural gas pipeline network to help free up cash and draw more international investors to Saudi Arabia, people familiar with the matter said.
The state-owned energy producer is holding preliminary discussions on the potential move, the people said, asking not to be identified because the information is private. Any deal could raise billions of dollars for Dhahran-based Aramco depending how a transaction is structured, they said.
Provided by Dow Jones
By Miriam Gottfried Blackstone Group Inc. swung to a record quarterly profit as its focus on rapidly growing companies helped the value of its investments climb more than the broader market. The investment giant posted net income of $1.75 billion, or $2.46 a share, for the first quarter. That compares with a loss of $1.07 billion, or $1.58 a share, in the coronavirus-battered first quarter of 2020. The value of Blackstone s private-equity portfolio climbed by 15.3% in the latest period, far exceeding the 5.8% gain for the S&P 500. The firm s recent emphasis on growth companies, including online-dating platform Bumble Inc. and genealogy company Ancestry.com Inc., propelled the gains, Blackstone President Jonathan Gray said in an interview.
Provided by Dow Jones
By Miriam Gottfried Blackstone Group Inc. swung to a record quarterly profit as its focus on fast-growing companies helped the value of its investments climb more than the broader market. The investment giant posted net income of $1.75 billion, or $2.46 a share, for the first quarter. That compares with a loss of $1.07 billion, or $1.58 a share, in the coronavirus-battered first quarter of 2020. The value of Blackstone s private-equity portfolio climbed by 15.3% in the latest period, far exceeding the 5.8% gain for the S&P 500. The firm s recent emphasis on growth companies, including online-dating platform Bumble Inc. and genealogy company Ancestry.com Inc., propelled the gains, Blackstone President Jonathan Gray said in an interview.
Provided by Dow Jones
By Miriam Gottfried Blackstone Group Inc. swung to a record quarterly profit as its focus on rapidly growing companies helped the value of its investments climb more than the broader market. The investment giant posted net income of $1.75 billion, or $2.46 a share, for the first quarter. That compares with a loss of $1.07 billion, or $1.58 a share, in the coronavirus-battered first quarter of 2020. The value of Blackstone s private-equity portfolio climbed by 15.3% in the latest period, far exceeding the 5.8% gain for the S&P 500. The firm s recent emphasis on growth companies, including online-dating platform Bumble Inc. and genealogy company Ancestry.com Inc., propelled the gains, Blackstone President Jonathan Gray said in an interview.
Forget Bitcoin. Railroads Are the New Bubble.
Apr 21 2021, 1:38 AM
April 20 2021, 10:08 PM
April 21 2021, 1:38 AM
(Bloomberg Opinion) In this year of financial kookiness around SPACs, Bitcoin and non-fungible tokens, the hottest M&A target is an old-school U.S. railroad that traces its roots to the 1800s. And itâs now at the center of a bidding war.Â
(Bloomberg Opinion) In this year of financial kookiness around SPACs, Bitcoin and non-fungible tokens, the hottest M&A target is an old-school U.S. railroad that traces its roots to the 1800s. And itâs now at the center of a bidding war.Â