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Tencent, Alibaba earnings hold key to $44bn China tech run.
German government supports Siemens Energy with $8bn guarantees.
Amazon Web Services, Google, Microsoft set to invest $8.5bn in Thailand.
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KKR, a global investment firm, completed the acquisition of Chase, a global manufacturer of protective materials for high-reliability applications across diverse market sectors, for $1.3bn.?
“Today represents an important milestone for Chase in our journey to better serve our customers through strategic growth and innovation,” Adam Chase, Chase President and Chief Executive Officer.
Chase was advised by Perella Weinberg Partners, Davis Polk & Wardwell (led by Daniel Brass), and Alpha IR (led by Jackie Marcus). KKR was advised by Goldman Sachs, Kirkland & Ellis (led by Jennifer Perkins, David Klein, Chelsea Darnell and Colin Zelicof), and AZB & Partners (led by Roxanne Anderson and Ajay Singh Solanki).?
Fox Factory, a company that designs and manufactures performance-defining products primarily for bicycles, on-road and off-road vehicles and trucks, completed the acquisition of Marucci Sports, a baseball and softball brand, from Compass Diversified, an investment holding company, for $572m.
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“We are pleased to complete our sale of Marucci Sports and believe the Marucci team is well-positioned for future success under FOX ownership. Our partnership with Marucci, which began in early 2020, proved highly successful, and we are grateful for Kurt and the Marucci team’s contributions over the years and look forward to their continued success," Elias Sabo, Compass Diversified CEO.
Fox Factory was advised by Squire Patton Boggs (led by Evan Toebbe). Compass was advised by Jefferies & Company, Jones Walker, Ropes & Gray (led by Brandon Howald and Gabriel DiBernardi), Gateway Group (led by Cody Slach) and The IGB Group (led by Leon Berman).
Tencent, Alibaba earnings hold key to $44bn China tech run.
Financial results from Tencent and Alibaba Group will likely test the strength of a $44bn rally in China's technology sector this month, Bloomberg reported.
As the country's major tech firms start reporting third-quarter earnings this week, expectations are for Tencent to show strong growth given cost reductions and a friendlier regulatory climate for gaming that also benefits rival NetEase. Alibaba, however, likely continued to suffer from a broader consumption slowdown that pressured competitor JD.com too.
German government supports Siemens Energy with $8bn guarantees.
The German government said it had decided to backstop Siemens Energy with guarantees worth $8.1bn as part of a deal with other stakeholders to help the troubled energy company fulfill its order book, Reuters reported.
Deepening problems at the firm's wind turbine unit Siemens Gamesa and a subsequent move by S&P to cut the group's long-term credit rating to BBB-, just one notch above junk, during the summer had made banks more reluctant to provide guarantees.
Amazon Web Services, Google, Microsoft set to invest $8.5bn in Thailand.
Thailand will receive $8.46bn worth of investment from Amazon Web Services, Google and Microsoft, DealStreetAsia reported.
The companies will invest $2.79bn each. AWS plans to build a data centre with a budget of $5bn over 15 year.?
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