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Coca-Cola to delay IPO of Africa bottler on market turmoil.
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Silver Lake Partners, an American global private equity firm, agreed to invest $500m in Shadowbox Studios, a premium operator of purpose-built soundstage facilities.
"The combination of Shadowbox's premier facilities in tier one production hubs and deep relationships across the production landscape allows the company to support the world's top content producers as they grow their businesses. Consumer demand for premium film and TV content, coupled with the growing number of producers, has driven outsized demand for soundstage capacity. There is a long runway for the growth of the overall industry, and we are thrilled to partner with Shadowbox to expand the company's service offerings and deliver premium soundstage facilities in the top global production markets," Lee Wittlinger, Silver Lake Managing Director.?
Shadowbox Studios is advised by Ernst & Young, Deutsche Bank, Farrer & Co, King & Spalding, Sidley Austin and FGS Global. Silver Lake is advised by Latham & Watkins and Edelman.
Paceline Equity Partners, a private equity company, completed the acquisition of Delta Hotel Virginia Beach Bayfront Suites, a full-service, all-suite hotel located on the northern coast of Virginia Beach. Financial terms were not disclosed.
“The Delta Hotel Virginia Beach Bayfront Suites represents our first full-service hospitality investment in a dominant drive-to-leisure market and eighth hotel in our expanding real estate portfolio. The hotel quickly experienced strong bookings upon completion of the recent renovation and conversion, demonstrating how well-positioned the property is to capitalize on continued consumer demand for leisure travel in the mid-Atlantic,” Sam Loughlin, Paceline Chief Executive Officer.
Paceline Equity Partners was advised by Gasthalter & Co.
Australia's Federal Court approved the $6.3bn acquisition of the country's largest casino operator Crown Resorts by US private equity giant Blackstone.
The approval follows nods from state regulators in Western Australia, New South Wales and Victoria last week, and gives billionaire James Packer an exit route from the Australian casino firm, beset by scandals and regulatory setbacks, in which he owns a 37% stake,?Reuters?reported.
Crown Resorts is advised by UBS, Allens and Herbert Smith Freehills. Star Entertainment is advised by Credit Suisse, Flagstaff Partners and King & Wood Mallesons. Debt financing is provided by Credit Suisse. Blackstone is advised by Citigroup, Morgan Stanley, Clayton Utz and Simpson Thacher & Bartlett. Consolidated Press is advised by Moelis & Co.
Goldman Sachs, a global investment bank, GGV Capital, a private equity firm, and Asia Investment Capital, an investment company, led a $300m Series C round in MegaRobo, a robotics startup, with participation from Sinovation Ventures, Pavilion Capital and Starr Capital.
AI and robotics have emerged as a key area of competition between the US and China, which are racing to develop technologies of the future. Firms like MegaRobo are expected to benefit from government support as Beijing seeks to move beyond low-end manufacturing and up the technology ladder by dominating key fields like automation and machine learning.
Coca-Cola to delay IPO of Africa bottler on market turmoil.
Coca-Cola delayed the planned initial public offering of part of its stake in an African bottler of its products, saying a rescheduled listing would depend on improved market conditions,?Bloomberg?reported.
The Atlanta-based soft-drink giant is the latest company to pull back on a sizeable listing as market sentiment worsens. The company set the IPO plan for Coca-Cola Beverages Africa in April 2021, part of its effort to focus resources on brand building and innovation. However, it is now eyeing an IPO in 2023, according to a Tuesday's statement.
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