Roundup: Bernhard Capital Partners / Lee Michaels / Louisiana Healthcare Connections businessreport.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessreport.com Daily Mail and Mail on Sunday newspapers.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer
I remain available at your convenience to meet with you to work out a path to inform the public about BCP’s proposal and underlying assumptions. I would kindly ask that PWC executives advise me of availability for such a meeting. We also encourage a fully transparent process that allows the residents to participate and form their own opinions about BCP’s proposal.
I also want to emphasize that BCP continues to believe that private investment in the PWC can greatly benefit the residents of the greater Fayetteville metropolitan area, PWC and its customers. BCP’s proposal is an opportunity to take the accumulated equity in PWC and return it to PWC’s owners the residents of Fayetteville while continuing to own PWC and its assets.
PWC chairman’s full statement: Bernhard has not established trust or transparency
Wade Fowler
Wade Fowler, chairman of the Public Works Commission’s Board of Commissioners, released the following statement Wednesday evening:
As has been reported, PWC was asked to evaluate an unsolicited concession offer presented by private equity firm Bernhard Capital Partners Management LP (BCPM), which is based in Louisiana. After doing so, PWC concluded that we were unable to enter into the initial Letter of Intent. Since that evaluation and well over a month ago, BCPM was provided an opportunity to submit a second and final proposal.
To date, BCPM has not provided a final proposal nor has BCPM released PWC from a non-disclosure agreement, as we requested on April 30, 2021. BCPM has begun sharing selected benefits of its proposal, while the details and costs that provide the complete picture of the offer remain confidential.
Charah Solutions, Inc Reports Fourth Quarter and Full Year 2020 Results theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.