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KKR agrees to buy up to $44bn of PayPal’s pay-later loans.?
Saudi Arabia's PIF leads bidding for a $2.5bn Vale base metals stake.
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Civitas Resources , a neutral energy producer, agreed to acquire oil producing assets in the Midland and Delaware Basins of west Texas and New Mexico from NGP ENERGY CAPITAL MANAGEMENT, L.L.C. , a private equity and venture capital firm, for $4.7bn.
“These accretive and transformative transactions will immediately create a stronger, more balanced and sustainable Civitas. By acquiring attractively priced, scaled assets in the heart of the Permian Basin, we advance our strategic pillars through increased free cash flow and enhanced shareholder returns. We will soon have nearly a decade of price-resilient, high-return drilling inventory. Our strong capital structure allowed us to capture these transformational assets, and, importantly, behind the strength of the pro forma business, we have a clear path to reduce leverage and maintain long-term balance sheet strength," Chris Doyle, Civitas President & CEO.
Civitas Resources is advised by 美国银行 , 高盛 , Guggenheim Partners , Kirkland & Ellis and DrivePath Advisors . Debt financing is provided by 美国银行 and J.P. 摩根 . NGP Energy is advised by J.P. 摩根 , Jefferies , Baker Botts and Vinson & Elkins (led by?Bryan Loocke,? Jackson O'Maley ,? Doug McWilliams ,? Matt Strock ?and? Elena Sauber ).
Blackstone Infrastructure Partners, an active investor across sectors, including energy infrastructure, transportation, digital infrastructure, agreed to acquire a 19.9% stake in NIPSCO , a gas company,?from NiSource , a utility company,?for $2.15bn.
"We're pleased to reach this agreement at a compelling valuation following a robust and competitive process and are confident that Blackstone is the right partner for NIPSCO and NiSource going forward, given its global footprint and deep infrastructure experience, including in renewable development and procurement. With this transaction, our commitment to Indiana remains unchanged, and we will be able to drive further sustainable growth for our stakeholders. This financing transaction will have no impact on NIPSCO's current strategic direction or on our commitment to our gas and electric customers in Indiana," Lloyd Yates, NiSource President and CEO.
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Blackstone is advised by Barclays and Latham & Watkins . Debt financing is provided by 三井住友银行 . NiSource is advised by 高盛 , Lazard and McGuireWoods LLP .
BPEA EQT and ChrysCapital , two investors, agreed to acquire a 90% stake in HDFC Credila Financial Services Limited , a loan agency, from HDFC Limited , a banking and financial services company, for $1.1bn.?
"The demand in India for obtaining a higher education is growing at a faster pace than ever, accelerated by our country's growing middle class and students' strive for better career opportunities. Coming out of HDFC Group, one of India's most respected and well-established financial conglomerates, HDFC Credila plays a critical part in serving this demand. We have been following HDFC Credila for several years and we are excited to partner with its strong management team led by Arijit Sanyal. We also welcome HDFC Group's decision to retain a minority stake in the business and we see their continued support as a testament to our vision for the company," Jimmy Mahtani, BPEA EQT India Partner.
BPEA EQT is advised by Awelin , Arpwood Capital , 安永 and JSA . HDFC is advised by Jefferies .
KKR agrees to buy up to $44bn of PayPal’s pay-later loans.?
KKR agreed to purchase as much as $44bn of buy-now-pay-later loan receivables from PayPal in a deal that frees up the payments giant to do more share repurchases. The agreement is part of a €3bn ($3.3bn) loan commitment that allows private credit funds and accounts managed by KKR to purchase loans originated by PayPal in France, Germany, Italy, Spain, and the UK. PayPal expects the transaction to generate $1.8bn in proceeds, allowing it to repurchase an additional $1bn of shares this year,?Bloomberg?reported.
While the concept of split installment payments for consumer purchases has been around for decades and online consumer financing has been a strategic offering of PayPal since 2008, BNPL has dramatically increased in popularity over the past several years. Since launching its first BNPL offering in 2020, PayPal has become an industry leader with its PayPal Pay Later products, issuing more than 200m?loans to over 30m customers in eight markets around the world.
Saudi Arabia's PIF leads bidding for a $2.5bn Vale base metals stake.
Saudi Arabia's Public Investment Fund (PIF) is emerging as the leading bidder to acquire a stake in 淡水河谷 's multibillion-dollar nickel and copper operations,?Bloomberg?reported.
PIF is in advanced discussions with the Brazilian miner about a deal for a roughly 10% holding in its base metals unit. The stake could be valued at around $2.5bn.
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