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BlackRock, Microsoft to raise $30bn for AI investments. (FS)
Chanel buys building on Paris’ upscale avenue Montaigne. (Real Estate)
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Brookfield , an investment firm, completed the acquisition of Network International , a technology-enabled payments solutions provider, for ￡2.2bn ($2.7bn).
"The strength of Network's people and technology platform has enabled it to build on its position as a leading payment solution provider across the Middle East and Africa. The Enlarged Group will be well positioned to serve its customers and partners, and support the acceleration of digital payments in the markets it serves," Ron Kalifa, Network Chairman.
Network was advised by 花旗 (led by Robert Redshaw ), J.P. 摩根 (led by Bill Hutchings ), PJT Partners (led by Kush Nanjee ), Allen & Overy (led by Seth Jones ) and Teneo (led by Doug Campbell ). Brookfield was advised by 摩根士丹利 (led by Vipin Chhajer) and 年利达 (led by Chris Boycott and Ben Rodham ). Morgan Stanley was advised by Norton Rose Fulbright (led by Bénédicte Denis ).
WillScot Mobile Mini, a provider of innovative temporary space solutions, and McGrath RentCorp, a business-to-business rental company, mutually terminated the $3.8bn deal.
“Modular and portable storage solutions is a dynamic industry and, as we move forward, we will continue to grow and succeed through our unrelenting commitment to putting the customer first. The proposed transaction was a recognition of the enormous value created by our talented employees. Now, our team is energized and ready to execute our standalone strategy, and I am proud of the focus and tenacity the McGrath team demonstrated throughout this process. I look forward to actively engaging with our customers, partners and the financial community as we showcase the strategy that will lead McGrath’s future success. Moreover, we have always been focused on generating shareholder value as demonstrated by 33 consecutive years of dividend return increases and remain dedicated to this important objective going forward," Joseph Hanna, McGrath President and Chief Executive Officer.
Alaska Airlines , an American airline holding company, completed the acquisition of Hawaiian Airlines , an operator of commercial flights to and from the US state of Hawaii, for $1.9bn.
"This is a historic day for Alaska Airlines as we officially join with Hawaiian Airlines. Alaska and Hawaiian share tremendous pride in connecting communities with award-winning service, and we look forward to inviting more guests on board to experience what makes both brands unique. Among Alaska, Hawaiian and Horizon Air, we have more than 230 years of history flying guests and serving communities. I know we will build on that legacy and become stronger together – providing the excellent operation guests have come to expect, expanding options to seamlessly travel nearly anywhere in the world, and securing the financial stability and value that inspires investment," Ben Minicucci, Alaska Airlines CEO.
Hawaiian Airlines was advised by Barclays , Wilson Sonsini Goodrich & Rosati (led by Douglas Schnell and Remi Korenblit ), and Joele Frank (led by Jed Repko ).?Barclays was?advised by Sullivan & Cromwell LLP (led by Stephen Kotran ). Alaska Airlines was advised by 美国银行 (led by Steven Baronoff ), PJT Partners and 美迈斯 (led by Andor Terner ).?Bank of America was advised by Cleary Gottlieb Steen & Hamilton LLP (led by Charles Allen ).
BlackRock, Microsoft to raise $30bn for AI investments. (FS)
BlackRock and 微软 are teaming up on one of the largest efforts to date to bankroll the build-out of data warehouses and energy infrastructure behind the boom in artificial intelligence, Bloomberg reported.
The companies, along with the United Arab Emirates’ MGX investment vehicle, will seek $30bn of private equity capital over time for the strategy, which will then leverage the money to as much as $100bn in potential investments.
Chanel buys building on Paris’ upscale avenue Montaigne. (RE)
香奈儿 bought a building on avenue Montaigne, a high-profile shopping destination in Paris, as European luxury players swoop in to secure prime real estate for their boutiques, Bloomberg reported.
The fashion label known for its tweed jackets and skirts purchased the property at 42 avenue Montaigne, about a block away from the Champs-élysées, according to a statement, which didn’t disclose the transaction terms.
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