Latest news with #PrivateEquity
Washington Post
2 hours ago
- Business
- Washington Post
Subway hires former Burger King executive as its new CEO
Subway has hired a former Burger King executive as its new CEO. The Miami-based sandwich chain said Monday that Jonathan Fitzpatrick will join the company on July 28. Fitzpatrick is the first CEO hired since Subway was bought by the private equity firm Roark Capital in 2024. And Roark didn't have to look far to find him.
Bloomberg
3 days ago
- Business
- Bloomberg
Blackstone Drops Out of Group Seeking Stake in US-Based TikTok
Private equity firm Blackstone Inc. has pulled out of a group of investors seeking to take a minority stake in TikTok's US-based business, according to a person familiar with the matter. Blackstone has ceded its potential stake in TikTok's US operations to the other investors in a consortium that includes Oracle Corp., venture capital firm Andreessen Horowitz and growth equity investment firm General Atlantic, said the person, who asked not to be named while discussing private conversations.
Reuters
3 days ago
- Business
- Reuters
Exclusive: Blackstone drops out of consortium bid for TikTok US, source says
July 18 (Reuters) - Private equity giant Blackstone has withdrawn from a consortium seeking to invest in TikTok's U.S. operations, a source familiar with the matter told Reuters on Friday. The latest change came as uncertainty has mounted and there have been several delays in the TikTok deal now at the center of U.S.-China trade talks. Blackstone had planned to take a minority stake in the TikTok U.S. business in a deal orchestrated by President Donald Trump. The consortium is led by Susquehanna International Group and General Atlantic, current investors in TikTok's Chinese owner ByteDance. The group had emerged as the front-runner to secure TikTok's U.S. business in a deal under which U.S. investors would own 80% of TikTok, while ByteDance would retain a minority stake. Blackstone declined to comment. TikTok did not immediately respond to a request for comment. The deadline for ByteDance to divest the popular social media app in the U.S. has been repeatedly postponed, creating uncertainty for investors. Last month, Trump signed a third executive order extending the deadline for ByteDance to sell TikTok or face a ban, moving the cutoff to September 17. In April 2024, Congress passed a law mandating a sale or shutdown of TikTok by January 19, 2025. Extensions to the deadline have drawn criticism from some lawmakers, who argue the Trump administration is 'flouting the law' and ignoring national security concerns related to Chinese control over TikTok. ByteDance is exploring various options to address these concerns, including selling or restructuring its U.S. operations. The Chinese social media giant, which raked in $43 billion in the first three months of this year, recently surpassed Meta in quarterly revenue, sources told Reuters. The U.S. consortium, favored by the administration in any TikTok deal, also includes KKR, as well as new investors such as Andreessen Horowitz, Reuters previously reported. Oracle is also likely to take a stake. It is unclear whether other bidders in the consortium are still involved. A deal had been in the works this spring to spin off TikTok's U.S. operations into a new U.S.-based firm. Talks were put on hold after China indicated it would not approve the transaction, following Trump's announcement of steep tariffs on Chinese goods. If a sale is finalized, the new U.S. app is expected to be owned by a joint venture formed by an American investor consortium and ByteDance, which would maintain a minority stake. TikTok is already working on a U.S.-specific app, sources told Reuters. Blackstone's exit highlights the complexities and uncertainties involved in the deal, as the ongoing talks over TikTok's fate have now become part of Trump's broader trade negotiations with China, and Trump said he would speak to President Xi Jinping about it.
Yahoo
3 days ago
- Business
- Yahoo
5 Must-Haves for a Profitable Real Estate Investment, According to Grant Cardone
Real estate mogul and private equity fund manager Grant Cardone said that there's only one asset class that always makes you money, generates passive income, appreciates over the long-term and offers tax advantages. Explore More: Read Next: 'It's not gold, silver, Bitcoin or the stock market — it's real estate,' he previously told GOBankingRates. However, breaking into the real estate investment game can be tricky, and you can end up losing money if you don't do it right. In a recent Instagram post, Cardone broke down the five things you need to make your first successful real estate investment. 1. Find the Right Property — aka 'The Deal' The first step is choosing the right property. 'First, you need the deal,' he said. 'When I talk about the deal, I'm talking about the property itself — where it's at, what it does, how it functions.' The location, condition and income potential of the property must be properly evaluated before you sign on the dotted line. If a property doesn't make sense on paper, it simply won't be a good investment. Find Out: 2. Understand the Debt You'll Take On Next, evaluate the debt you will have to take on to acquire the property, Cardone said. Make sure you understand the terms of your mortgage, including interest rates, amortization schedules and how debt will impact your cash flow. 3. Use Equity — But Not Necessarily Your Own You will need to access equity to purchase a property, but you don't need to use all of your own money to make a deal. 'I don't have to have the cash,' Cardone said. 'I wish I'd have known that. I had been buying real estate for five years and didn't realize I did not need cash — my cash — to buy real estate.' Instead, you can leverage partner capital, private equity or syndication to fund deals. 4. Build a Real Estate Support Network When you're buying an investment property, it usually requires a whole network of people to get the deal done. 'There's no way to do real estate by yourself, ever,' Cardone said. This 'network' can include lenders, insurance agents, property managers and tenants. 'You're going to have the government, a bank involved, probably investors, definitely residents, an insurance company, property taxes…,' Cardone said. 'There's no way to do real estate by yourself.' 5. Confidence: The X-Factor You Can't Fake Confidence is an asset you will need to close any successful deal — but you can't manufacture or buy it. 'There's no pill for it, and it's worth billions,' Cardone said. 'Confidence is not something you hype up, like, 'I'll fake it 'til I make it.' Do not try that in real estate.' Cardone believes that faking confidence can lead you to miss out on deals due to lost credibility. 'Faking it 'til you make it in real estate means you're going to fake it, and you ain't ever going to make it,' he said, 'because everybody's going tell that you're faking it.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 Here's the Minimum Salary Required To Be Considered Upper Class in 2025 The New Retirement Problem Boomers Are Facing This article originally appeared on 5 Must-Haves for a Profitable Real Estate Investment, According to Grant Cardone Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Estonian Dronemaker Threod Said to Explore Sale as Demand Soars
Threod Systems, the Estonian drone company, is exploring a sale to tap the explosive demand for uncrewed aircraft amid the war in Ukraine, according to people familiar with the matter. The company is working with advisers to gauge interest among potential buyers, said the people, who asked not to be identified because discussions are private. Defense companies, including large European manufacturers, and private equity firms are looking at the business, they said. Threod did not immediately respond to requests for comment.
