Ares Seeks to Buy New World Development Debt From Banks
Ares Management Corp. approached at least two banks in recent weeks to purchase their holdings of debt issued by Hong Kong developer New World Development Co., according to people familiar with the matter.
The US-based alternative investment manager was seeking to acquire a share of New World's debt at a discount in hopes of partaking in the company's ongoing refinancing exercise, said the people, who asked not to be identified discussing private matters.
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Yahoo
17 minutes ago
- Yahoo
International Resources Holding Enters into Agreement to Acquire Majority Interest in Alphamin Resources Corp. from Tremont Master Holdings
ABU DHABI, UAE, June 3, 2025 /CNW/ - International Resources Holding ("IRH") and Tremont Master Holdings ("Tremont") are pleased to announce that they have entered into a definitive agreement for IRH to acquire Tremont's majority interest in Alphamin Resources Corp. (TSXV: AFM) (JSE: APH) ("Alphamin") (the "Transaction"). Under the terms of the Transaction, IRH will, through a wholly-owned subsidiary, acquire 718,990,967 common shares (the "Acquired Shares") of Alphamin (the "Common Shares") owned by Tremont, representing approximately 56% of the outstanding Common Shares, at a price of C$0.70 per share, for a total consideration of C$503,293,677 (US$367,001,749), subject to completion adjustments which may decrease total consideration in certain circumstances set out in the definitive agreement, including as a result of distributions, dividends and payments made to Tremont by Alphamin in Tremont's capacity as a shareholder of Alphamin or otherwise, or related to the Transaction which arise from September 30, 2024 to the date of closing of the Transaction, other than the dividend paid by Alphamin on November 4, 2024. IRH Strategic Rationale for the Acquisition This acquisition strengthens IRH's position in the global industrial metals sector, adding a majority interest in a highly productive and strategically important tin asset to its portfolio. Alphamin is one of the world's largest and highest-grade tin producers, playing a key role in supplying a critical raw material used in electronics, manufacturing, and industrial applications. Ali Alrashdi – CEO of IRH, stated:"Alphamin's strong production profile aligns with our strategy of securing interests in high-quality mining assets with long-term growth potential." Rob Still, Chairman of Tremont Master Holdings, commented:"Following Tremont's 12-year history in exploring, evaluating and then building and operating the Bisie mine, we are now pleased to transfer our ownership stake to another long-term investor who shares our vision for the operation and our commitment to the region." Closing of the Transaction is subject to certain closing conditions, including, among others, the receipt of all regulatory and internal corporate approvals. Required Early Warning Disclosure Immediately prior to entering into the definitive agreement regarding the Transaction, IRH did not own any Common Shares and, upon completion of the Transaction, IRH will own 718,990,967 Common Shares, representing approximately 56% of the outstanding Common Shares. Tremont currently owns 729,124,559 Common Shares, representing approximately 57% of the outstanding Common Shares, and upon completion of the Transaction will continue to hold 10,133,592 Common Shares, representing approximately 0.8% of the outstanding Common Shares. IRH entered into the definitive agreement to acquire the Common Shares for investment purposes. IRH intends to review its investment in Alphamin on a continuing basis and depending upon various factors, including without limitation, the price and availability of Alphamin's securities, subsequent developments affecting Alphamin, its business and prospects, other investment and business opportunities available to IRH, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by IRH, IRH may (i) change its beneficial ownership of the Common Shares, whether through transactions effected in the open market, by privately negotiated agreements, or otherwise, or (ii) consider or propose, develop plans or take action which relate to or would result in, one or more of the actions described in subparagraphs (a) - (k) of Item 5 of Form 62-103F1 - Required Disclosure Under the Early Warning Requirements. Among other things, IRH may in the future consider the appropriateness of exploring one or more transactions to acquire the balance of the outstanding Common Shares after discussion with Alphamin's shareholders, board of directors and/or other stakeholders. Tremont holds its Common Shares for investment purposes. The disposition of Common Shares is being undertaken in the ordinary course of business for investment purposes. IRH and Tremont intend to complete the Transaction by way of a block trade over a stock exchange. The acquisition of the Common Shares is being made by way of private agreement with five or fewer third parties at a price per share not exceeding 115% of the market price of the Common Shares and in compliance with the "private agreement exemption" under section 4.2(1) of National Instrument 62-104 – Take-Over Bids and Issuer Bids. Copies of the Early Warning Reports of both IRH and Tremont with respect to the Transaction will be filed under Alphamin's SEDAR+ profile at and may also be obtained by contacting the respective IRH and Tremont contacts listed below. The head office of Alphamin is located c/o ADANSONIA MANAGEMENT SERVICES LIMITED, Perrieri Office Suites, C2-302, Level 3, Office Block C, La Croisette, Grand Baie, 30517, Mauritius. About International Resources Holding (IRH) International Resources Holding (IRH) is an Abu Dhabi-based global mining company, focused on securing and optimizing industrial metals supply chains. IRH invests in high-quality upstream and midstream assets to enhance the stability and efficiency of global raw material markets. For more information, visit IRH's head office is located at: International Resources Holding RSC LtdGround floor, Building C12Al Halawi St, Al Muntazah, Ministries Complex, Abu Dhabi About Tremont Master Holdings (Tremont) Tremont is an investment holding company incorporated under the laws of Mauritius. Tremont's head office is located at: Tremont Master HoldingsC/o Adansonia Management Services LimitedSuite 1, Perrieri Office Suites, Office Block C, La Croisette30517Grand BaieMauritius SOURCE International Resources Holding and Tremont Master Holdings View original content:
New York Post
30 minutes ago
- New York Post
NYC snubbed on new ‘10 best hotels in the world' list compiled by expert travel reviewers
La Liste just revealed the top 10 best hotels in the world — and none of the luxury ones in New York made the elite list. With so many incredible travel destinations — it's hard to narrow down the best places to stay, but the Paris-based company known for its hotel and restaurant rankings took on the difficult task of doing just that. To compile this list, the site looked at 400 different hotel reviews given by press — which then went through an algorithm system to create a score on a 100-point scale, as explained by Bloomberg. 'We are a synthesis of all the rankings and ratings that we find knowledgeable,' Helene Pietrini, managing director of La Liste, told Bloomberg. As a result, 10 different hotels around the world all ranked No. 1 — six of them are in Europe, and none in the tri-state area. Who made the cut? 1. La Réserve Paris This 5-star hotel is one that tourists — and travel reviewers — can't get enough of. 'The property has exceptional service, some great food and beverage outlets, a pool and spa, and a beautiful historic design. If money is no object, it really is hard to choose between the top properties in Paris — it all depends on what part of town you prefer staying in, and what kind of vibe and design you like,' One Mile At A Time wrote. 2. Cheval Blanc Paris Jing Daily described this Paris hotel as one that 'doesn't just offer accommodation at a level where everything is exceptional. What truly sets it apart is its ability to craft unforgettable moments — moments that I don't think I will ever forget.' 3. The Connaught Hotel in London 4 This London hotel is beloved by many travelers. In Pictures via Getty Images Forbes Travel Guide described this gem of a hotel as 'the perfect base to explore the rest of London, including the theaters of the West End, open spaces of nearby Hyde Park and Green Park and the designer boutiques, galleries, antique stores and restaurants a stone's throw away on Mount Street.' 4. The Savoy in London 4 The Savoy is the second UK hotel to make the elite list. Peter Dazeley Condé Nast Traveler described The Savoy as 'iconic' and a 'rumored favorite hotel of Marilyn Monroe and Marlene Dietrich (who has a suite named after her), the Savoy was the first hotel in Britain to have elevators and electric light, and it is still at the top of its game.' 5. Il San Pietro di Positano, Italy This hotel in Positano, Italy, is a favorite amongst travelers. 'Despite its celebrity status and litany of services, it remains a family affair – impeccably run by the Cinque family for over 50 years. The lush gardens and lemon groves, the fabulously romantic terrace bar and Michelin-starred restaurant Zass all offer mesmerizing Amalfi-coast views; down by the water, there's a pool, spa, tennis court, solarium and the al fresco beachside restaurant, Carlino's,' the Telegraph raved. 6. J.K. Place Capri, Italy This hotel on the island of Capri, Italy, is described as anything but ordinary. Forbes said this is 'one of the only hotels in Capri located right on the ocean. It has 22 unique rooms and suites. Many rooms have small balconies facing the sea, and the penthouse suite has a long private terrace with a panoramic view of the Gulf of Naples.' And the cost for these spectacular rooms? Seafront rooms reportedly go for $2,000 a night in the summer. 7. Mandarin Oriental, Bangkok, Thailand 4 Expert reviewers couldn't say enough good things about this Thailand hotel. Getty Images Condé Nast Traveler explained that the Mandarin Oriental is 'Bangkok's first hotel is still, despite some extremely stiff competition from any number of more recent arrivals, it best — as well as one of the finest examples anywhere on earth of a grande dame that knows exactly how to grow old gracefully. Arrive by boat and you'll see the hotel from the Chao Phraya River, as nature intended.' 8. The Peninsula Shanghai, China Forbes Travel Guide had nothing but amazing things to say about the Peninsula Shanghai. 'The service is impeccable from the moment you arrive at the Five-Star hotel until you check out. And don't worry if your Chinese is limited to ni hao ('hello'): Everyone on the staff speaks English well and could not be more gracious or more readily available to help.' 9. The Peninsula Chicago 4 The Peninsula Chicago was the only US hotel to make the top 10 list. Getty Images It's a high honor for The Peninsula Chicago to make this elite list, since it's the only US option. Experts at the Pursuitist describe this hotel as 'the perfect upscale destination for families, dignitaries, celebrities, and affluent business travelers. With numerous delicious fine-dining options, the stunning pool, spacious rooms and suites, there is so much to adore about the legendary Peninsula Chicago.' 10. Rosewood Mayakoba, Playa del Carmen, Mexico This hotel is known for its modern rooms and quiet atmosphere with stunning views. 'A stay at Rosewood Mayakoba is just as much about luxury as it is about immersing oneself in the wilds of Mexico's Yucatán Peninsula,' Conde Nast Traveler wrote.
Yahoo
31 minutes ago
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Orthopaedic Institute of North Mississippi merging, rebranding
TUPELO – In a blockbuster three-way merger, Tupelo-based Orthopaedic Institute of North Mississippi, Jackson-based Mississippi Sports Medicine and Orthopaedic Center and Oxford-based Oxford Ortho and Sports Medicine will rebrand under the Mississippi Sports Medicine and Orthopaedic Center name, effective Aug. 4. Following the merger, MSMOC will have 32 doctors and 33 advanced practice providers at 18 locations, creating the largest network of orthopedic specialists in the state and one of the most comprehensive in the Southeast. Founded in 1984, Mississippi Sports Medicine has locations in Jackson, Flowood, Madison, Brookhaven, Ruleville and Yazoo City. MSMOC surgeons were the first of five in the U.S. and the first in Mississippi performing outpatient joint replacements. The group performs over half the total joint replacements in the state. It has the largest orthopaedic joint center in the country, the first in the state, and it was one of the first three centers in the U.S. to perform orthopaedic joint replacements. Dr. Eric Lewis, fellowship-trained orthopedic hand surgeon at OINMS, said joining forces with MSMOC would benefit more people in the region. 'For decades, we have earned our reputation by providing exceptional, patient-focused care in Tupelo and across North Mississippi,' he said. 'Teaming up with Mississippi Sports Medicine will strengthen our statewide collaboration and expand access to cutting-edge treatments and specialized expertise for the region and people we serve.' In a press release, OINMS said its physicians and staff "remain committed to the advanced orthopedic and sports medicine care their neighbors across the region have trusted for nearly three decades." OINMS said Mississippi Sports Medicine had "built a reputation for orthopedic excellence through its clinics and fellowship programs, which have trained several orthopedic physicians in the area, and Oxford Ortho's team has been its region's leader since the 1990s. By partnering with their colleagues in Jackson and Oxford, the Tupelo team is able to extend its legacy across Mississippi and the Southeast." As the three groups merge their operations over the next couple of months, patients will continue to be seen at the same locations by the same physicians. "The name will change, but the same doctors that have been trusted by the Tupelo and North Mississippi community for decades will remain the same," the press release said. 'As someone who completed my sports medicine fellowship at Mississippi Sports Medicine, I'm excited to deepen our collaboration with the Jackson team,' said Dr. Bryan Fagan, an OINMS orthopedic surgeon. 'Together, we'll bring more innovation and specialized expertise to patients across North Mississippi.' Leading up to the launch of the new brand on Aug. 4, residents and patients will see the new name on signage, materials and communications. 'Orthopedics is a team sport,' said Dr. J.R. Woodall, a spine surgeon based in Jackson. 'I've long respected the Oxford and Tupelo teams, and this evolution will unlock new opportunities in research, education and cutting-edge care for every Mississippian.' Orthopaedic Institute of North Mississippi was born of a merger in 2018 when North East Orthopaedics and Sports Medicine and North Mississippi Sports Medicine and Orthopaedic Clinic of Tupelo joined forces and moved the practice to Midtown Pointe.
