Latest news with #CarlyleGroup
South China Morning Post
18 hours ago
- Business
- South China Morning Post
Smart money in US still bets on Beijing
Wall Street and Washington don't always see eye to eye, especially over China. The White House of Donald Trump and politicians from both major US parties constantly issue warnings and threats against Beijing. Corporate bosses, however, have a very different attitude. Unlike politicians, they have the bottom line to worry about. Sensing a division, top Chinese officials have launched a charm offensive to reassure Western investors, but especially Wall Street bosses, that the country is open for business. Actually it's even more welcoming today, despite the trade war, uncertainties about its 90-day tariff pause, and the threatened ban against Huawei's most advanced chips. Vice-Premier He Lifeng recently met Citigroup chairman John Dugan and Carlyle Group chief executive Harvey Schwartz in Beijing, and told them that the Chinese economy had shown 'strong resilience and great vitality'. It was the same point he passed on earlier to the chief executives of Apple, Nvidia and JPMorgan Chase. Dugan and Schwartz's meetings with He came back to back. That was perhaps not an accident. The bank's history in China dates back more than a century, and Carlyle was one of the first foreign private equity firms to invest in China from the early 2000s. It has been a profitable partnership, as the Chinese learned the workings of private capital and investment. China always remembers its old friends. And Carlyle has a habit of retaining the services of top US officials who have retired, so its unrivalled political network is important to Beijing. These top US bosses have reciprocated to China's goodwill. JPMorgan and Bank of America came under attack in April from the US House Select Committee on the CCP for being part of the team that underwrote the initial public offering of Chinese battery giant Contemporary Amperex Technology (CATL) in Hong Kong. Both banks ignored the warning, and CATL's successful IPO is so far the world's largest this year. Meanwhile, Jensen Huang, the Nvidia CEO, has publicly declared Washington's global chip curbs on China a failure, having only forced the country to advance rapidly its own chipmaking capabilities. Unlike Washington, America's corporate bosses understand the meaning of win-win.
Yahoo
3 days ago
- Business
- Yahoo
bluebird bio, Inc. (BLUE) Nears Acquisition by Carlyle and SK Capital
Investment firms The Carlyle Group Inc. (NASDAQ:CG) and SK Capital Partners, together with Beacon Parent Holdings, L.P., have successfully completed the tender offer for bluebird bio, Inc. (NASDAQ:BLUE) to acquire all outstanding common stock. With a value of either $3.00 per share plus a contingent value right or $5.00 per share in cash, the transaction is set to be finalized through a merger on June 2, 2025. A medical researcher inspecting a petri-dish filled with bacteria in a laboratory setting. We have previously seen how bluebird bio, Inc. (NASDAQ:BLUE), a biotechnology company engaging in gene therapies for serious genetic diseases, was both out of time and out of money. Among the challenges faced by the company were financial burdens, a high debt-to-capital ratio of 0.82, and a low current ratio of 0.55. In February, the management reported a deal with Carlyle and SK Capital Partners for $3 in cash and a $6.84 contingent value. Soon after, the entities secured approvals from the EU, China, and Turkey, meeting all the regulatory requirements. Under the terms of the agreement, the transaction is anticipated to advance without a vote from the bluebird bio, Inc. (NASDAQ:BLUE) stockholders, complying with Delaware's General Corporation Law. By offering a choice to the shareholders through an amended buyout agreement, the company provides immediate cash to those who desire it instead of potential future payments. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None. Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
BASF initiates sale of coatings business at about $6.8 billion valuation, Bloomberg News reports
May 30 (Reuters) - German chemicals maker BASF SE ( opens new tab has in recent weeks sent out information to potential suitors for a sale of its coatings business at a valuation of about 6 billion euros ($6.81 billion), Bloomberg News reported on Friday. Carlyle Group (CG.O), opens new tab, along with paint-maker Sherwin-Williams (SHW.N), opens new tab, are considering bidding for the BASF's coatings unit, the report said. The business has also attracted early interest from CVC Capital Partners ( opens new tab and Lone Star Funds, Bloomberg added. Reuters couldn't immediately verify the report. ($1 = 0.8812 euros)
Bloomberg
3 days ago
- Business
- Bloomberg
BASF Kicks Off €6 Billion Sale of Coatings Business
BASF SE has kicked off a sale of its coatings business, in a process that could value the unit at about €6 billion ($6.8 billion) and attract bids from large buyout firms, according to people familiar with the matter. The German chemical company has sent out information on the business to potential suitors in recent weeks, the people said, asking not to be identified as the matter is private. Carlyle Group Inc. is considering bidding for the coatings business together with paint-maker Sherwin-Williams Co., the people said. It's also attracting early interest from CVC Capital Partners Plc and Lone Star Funds, the people said.
Bloomberg
4 days ago
- Business
- Bloomberg
Carlyle's Dainese Seeks to Renegotiate Its Debt as Losses Soar
Dainese SpA, a sports clothing brand owned by Carlyle Group, is looking to renegotiate its debt terms after losses steepened in 2024. The Italian company, which produces high-end wear for motorcyclists and skiers, said it wants to open debt talks with creditors after it reported a €120 million ($136 million) loss last year, almost three times bigger than in 2023, according to its annual financial report published earlier this month.
