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Boeing to sell at least $10bn in shares to plug cash drain.
France warns it could block €15.5bn Sanofi consumer health deal. (FS)
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通用汽车 , an American multinational automotive manufacturing company, and Lithium Americas Corp. , a company focused on advancing lithium projects, agreed to form a $625m joint venture.
“We’re pleased with the significant progress Lithium Americas is making to help GM achieve our goal to develop a resilient EV material supply chain. Sourcing critical EV raw materials, like lithium, from suppliers in the US, is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs,” Jeff Morrison, General Motors SVP, Global Purchasing and Supply Chain.
Lithium Americas is advised by BMO Capital Markets , Evercore , 高盛 , Cassels Brock & Blackwell LLP and Vinson & Elkins . General Motors is advised by 摩根士丹利 , Mayer Brown and Osler, Hoskin & Harcourt LLP .
Stone Point Capital , a private equity firm, agreed to acquire a majority stake in Kestra , a wealth management platform, from Warburg Pincus LLC , a global growth investor. Financial terms were not disclosed.
“We’re pleased with the successful partnership we had with Warburg Pincus and are excited to once again partner with Stone Point. Stone Point’s expertise and partnership previously helped propel us along a successful path to establishing our unique value proposition – to support successful wealth management businesses with full and deep value while focusing on the life cycle of their entrepreneurial efforts. Today, our priorities are to strengthen that value proposition as we continue building a destination of choice for independent, successful wealth management businesses and professionals. With support from Stone Point and Oak Hill, we will continue scaling our platform and growing our expertise in serving and acquiring established wealth management firms seeking a monetization path that respects their legacy," James Poer, Kestra CEO.
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Kestra is advised by Evercore , Paul, Weiss, Rifkind, Wharton & Garrison LLP , Wachtell, Lipton, Rosen & Katz (led by Mark Veblen ) and Vested . Stone Point is advised by 高盛 and Simpson Thacher & Bartlett LLP (led by Elizabeth Cooper ).
Vitruvian Partners , a European private equity firm focusing on leveraged buyout and growth capital investments in middle-market companies, completed the investment in Options Technology , a provider of financial technology services and IT infrastructure products. Financial terms were not disclosed.
"We are delighted to invest in Options, a company with a proven track record of growth and innovation in the capital markets sector. With our financial backing and strategic guidance, we look forward to helping Options further solidify its position as a global leader in financial technology and continue delivering innovative solutions to its customers," Tomer Yosef-Or, Vitruvian Partners Partner.
Options Technology was advised by Arma Partners , Jefferies and Carson McDowell . Vitruvian partners was advised by Guggenheim Partners ,Moelis & Co, 富而德律师事务所 Bruckhaus and Kirkland & Ellis . Abry Partners was advised by 普衡律师事务所 .
Boeing to sell at least $10bn in shares to plug cash drain.
Burning through cash, Boeing secured a new credit line and moved to raise at least $10bn by selling new shares, in hopes of demonstrating that it can weather its current crisis, WSJ reported.?
The once mighty manufacturer has been hobbled this year by quality problems that surfaced after a midair mishap in January on a 737 MAX and more recently by a machinist strike that has halted production of most Boeing planes.
France warns it could block €15.5bn Sanofi consumer health deal. (FS)
France’s industry minister has said that the option of blocking a €15.5bn ($16.9bn) deal to sell Sanofi ’s consumer pharmaceuticals division to US private equity fund CD&R , is “absolutely on the table” if the government’s requirements are not met, Financial Times reported.
“Legally, we can oppose it,” industry minister Marc Ferracci said on France Inter radio on october 15 as a political backlash against the potential deal flared.
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