Page 47 - Kramer Levin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To embed, copy and paste the code into your website or blog: From time to time, private equity sponsors will exit a portfolio company investment by selling the portfolio company to buyers led by another fund managed by the same sponsor. Because the sponsor is essentially on both sides of the transaction, the sponsor must carefully consider and fairly address the customary business and legal issues arising in a typical private mergers and acquisitions (M&A) transaction. This note suggests a streamlined legal process that offers efficiencies of cost and timing, while still ensuring fairness to ...

Franchise Group Buys Pet Supplies Plus for $700M Franchise Group Inc. (Nasdaq: FRG) is acquiring Pet Supplies Plus, a pet supplies retail chain, from Sentinel Capital Partners for $700 million. The target operates more than 500 locations, with almost 60 percent of them franchised. “PSP adds another franchise concept with strong unit economics, diversification into an economically resilient and secularly growing pet industry, and a brand that has and will continue to experience robust unit expansion from its franchise system,” says Franchise Group CEO Brian Kahn. Franchise Group also ow...

Kicking Commercial-to-Residential Conversions Into High Gear A plan included in New York Gov. Andre Cuomo's draft 2022 budget will make it easier to do adaptive reuse for new housing in New York City. January 22, 2021, 6am PST | James Brasuell | "For the next five years, certain New York City building owners may be able to get around some local zoning rules to convert properties to residential use," reports Kathryn Brenzel. If enacted, owners of hotels with fewer than 150 rooms, other forms of temporary lodging, and class B and C office buildings in Midtown could "avoid local zoning res...

Gov. Andrew Cuomo (Getty, iStock) For the next five years, certain New York City building owners may be able to get around some local zoning rules to convert properties to residential use. One of the bills in the state’s proposed 2022 budget elaborates on Gov. Andrew Cuomo’s proposal to incentivize the conversion of commercial buildings into affordable housing. The measure applies to hotels with fewer than 150 rooms and other forms of temporary lodging, as well as class B and C office buildings in Midtown. If enacted, owners of such properties could avoid local zoning restrictions related...

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