Credit Suisse said on Friday it is winding down its $10 billion supply chain finance funds, which were mostly invested in notes backed by speciality finance firm Greensill.
March 5, 2021
American real estate investment trust Vici Properties Incorporated has announced that it is hoping to raise up to $2 billion in cash via the launch of a public offering involving 60 million common shares individually priced at $29.
Spun off from Caesars Entertainment Corporation in 2017, the New York-listed enterprise used an official Wednesday press release to detail that this exercise will see financial services firms Citigroup Incorporated, Morgan Stanley, Deutsche Bank Securities Incorporated and BofA Securities Incorporated serve as agents for the new shares. It explained that these enterprises are to subsequently be put in charge of selling the interests to institutional investors while simultaneously being given a 30-day option on a further nine million identically-priced stakes.
Baring PE Asia to sell Lumenis Surgical Business to Boston Scientfic for $1b
Photo: REUTERS/Beawiharta
March 4, 2021
Alternative investment major Baring Private Equity Asia (BPEA) announced that it has agreed to sell Lumenis Surgical Business to New York-listed medical technology firm Boston Scientific for $1.07 billion.
The surgical business includes laser and fibres solutions for minimally-invasive surgical procedures in Urology and ENT. It also covers Lumenis’ robust product portfolio, global team, and the Israel surgical centre of excellence, according to the announcement.
Baring PE Asia acquired Israel-based Lumenis in 2019 in a deal that valued the medtech company at over $1 billion. The deal marks an exit for XIO, a London-based buyout firm that bought Lumenis for about $$510 million in 2015.
There s long been a trend of European firms snubbing local exchanges in favor of the U.S. markets due to more favorable valuations and share structures. The U.K. government wants to change that and has released several proposals ahead of its annual budget announcement.
The U.K. listings review, led by former EU financial stability chief Lord Jonathan Hill, makes a number of key proposals aimed at bolstering London s stock market:
Allowing dual class share structures to give founders more control.
Reducing free float requirements to avoid diluting early backers.
Relaxing rules around special purpose acquisition companies, or SPACs.