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Blackstone becomes the first $1tn private equity manager.?
Private equity backers of Foundation Consumer Healthcare weigh $4bn sale of the company.?
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Global Infrastructure Partners (GIP) , an infrastructure investment fund making both equity and selected debt investments, agreed to acquire a 40% stake in Columbia gas business from TC Energy , an energy infrastructure company, for $3.9bn.
"Today’s announcement represents a major milestone in achieving our 2023 strategic priorities. To date, we have advanced our deleveraging goals by delivering on our $5bn+?asset divestiture program ahead of our year-end target, while maximizing the value of our assets and safely executing major projects, such as Coastal GasLink and Southeast Gateway. As part of our ongoing capital rotation program, we continue to evaluate opportunities to further our deleveraging objectives and optimally fund our secured capital program. Our commitment to strong balance sheet fundamentals and disciplined sanctioned net capital spending of $6 to $7bn?annually post 2024 will continue to provide the foundation for a long-term sustainable annual dividend growth rate of 3-5%,” Fran?ois Poirier, TC Energy President and CEO.
TC Energy is advised by 花旗 , TD Securities , and Mayer Brown .
泰雷兹 , a company that designs, develops and manufactures electrical systems, agreed to acquire Imperva , a data and application cybersecurity company, from Thoma Bravo , a software investment firm, for $3.6bn.
"The acquisition of Imperva marks a major milestone in Thales' cybersecurity strategy. With this acquisition, we are seizing a unique opportunity to accelerate our cybersecurity capabilities and are taking an important step towards our ambition to build a world-class global cybersecurity integrated player, providing a comprehensive portfolio of products and services. We have tremendous respect for Imperva's innovative application and data security offerings. Imperva and Thales share the same vision and the same DNA. We are thrilled to enter the next phase of our growth together. We look forward to welcoming Imperva to Thales to further enhance our cybersecurity solutions, and help customers address their most important digital security challenges," Patrice Caine, Thales Chairman and Chief Executive Officer.
Thales is advised by Centerview Partners ?and 摩根士丹利 . Thoma Bravo is advised by FGS Global (led by? Elizabeth Micci ).
KKR ?agreed to acquire Chase Corporation , a global manufacturer of protective materials for high-reliability applications across diverse market sectors, for $1.3bn.?
"Over its nearly 80-year history, Chase has established itself as a leader in highly-engineered protective materials and built a portfolio of trusted brands, while delivering outstanding customer service. We look forward to supporting Chase on its next phase of growth through developing exciting new products, executing upon strategic acquisitions, and serving customers in growing end-markets, including critical applications in electronics, fiber optics and electric grid infrastructure," Josh Weisenbeck, KKR Partner.
Chase is advised by Perella Weinberg , Davis Polk & Wardwell LLP (led by? Daniel Brass ) and Alpha IR Group (led by? Jacqueline Marcus ). KKR is advised by 高盛 and Kirkland & Ellis .
Blackstone becomes the first $1tn?private equity manager.?
Private equity firms have sought to join a special club: managing $1tn in assets. Blackstone became the first in the private equity industry to hit that level, boasting in its latest quarterly earnings report that it managed just over $1tn?in assets as of the end of June.
For firms like Blackstone, attaining that size cements their position as a major player in mainstream finance. On Main Street, the firm is perhaps best known for striking debt-fueled takeovers of companies, even if in reality it has long since branched out into an array of other businesses, from lending to real estate.
Private equity backers of Foundation Consumer Healthcare weigh $4bn sale of the company.?
The private equity owners of Foundation Consumer Healthcare are exploring a potential sale of the company behind popular morning-after pill Plan B One-Step,?Bloomberg?reported.
Foundation’s backers, which include Kelso & Company ?and Juggernaut Capital Partners , are working with financial advisers. The company may seek more than $4bn for the business.
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