Latest news with #investmentbankers
Bloomberg
a day ago
- Business
- Bloomberg
Qualitas Health Weighs $942 Million Malaysian IPO, The Edge Says
Asian healthcare provider Qualitas Health Group is weighing an initial public offering that will raise as much as 4 billion ringgit ($942 million), according to a report in The Edge, citing sources with knowledge of the matter. The company has reached out to investment bankers for the exercise, which will raise funds for expansion, the report said. The group has operations in Singapore, Malaysia and Australia, it added.
Daily Mail
2 days ago
- Business
- Daily Mail
Bojangles seeks $1.5 billion buyer amid durging sales
By A popular fried chicken chain is exploring the idea of selling its business following last year's 9 percent spike in chicken sales across US restaurants. Bojangles, one of the most iconic brands in the Carolinas, is working with investment bankers to potentially sell itself for over $1.5 billion, about three times what it sold for in a 2019 buyout. Private equity firms and other restaurant operators are expected to be interested if Bojangles is up for sale, according to The Wall Street Journal. As of now, the chicken chain has not confirmed whether it will go on the market. The 48-year-old business has rapidly expanded since opening its first restaurant in North Carolina in 1977. Known for its Cajun-spiced chicken and homemade buttermilk biscuits, it now has over 800 restaurants worldwide. Bojangles recently opened its first location in Las Vegas and is set to open several restaurants on the West Coast later this year. These openings, along with the chicken chain sales growth, are factors in why Bojangles is one of the nation's fastest-growing quick-service chicken chains. R.J. Hottovy, head of analytical research at explained why he believes chicken chains like Bojangles have achieved such success. 'Chicken concepts have outperformed the broader quick-service restaurant category the past several years, primarily due to the product's versatility and how easily it adapts to different flavors and dietary needs,' he said. 'This adaptability has enabled a number of brands to stand out by offering a wide range of customizable spice levels, sauces, and sides that appeal to a broader customer base.' Retail expert Neil Saunders (pictured), of GlobalData, explained why chicken chains are standing out from the rest of the restaurant industry in the current market. 'The restaurant sector has generally been under pressure in terms of generating growth,' he told 'However, chicken chains have been performing far better than average which is why investors are interested in them. Bojangles has been growing, which supports a high valuation, but it also has potential for further expansion which is baked into the purchase price,' he continued. 'Any buyer would want to ramp up store openings and geographical expansion as part of a playbook to recoup their investment.' The last time Bojangles explored a sales opportunity was in 2018, three years after it became public. Durational Capital Management and TJC confirmed a $593.7 million acquisition deal in 2018, which was finalized in 2019. Once the agreement became official, Bojangles became private. 'Bojangles is an iconic brand with an authentic Southern heritage and a deeply loyal following,' Eric Sobotka, managing partner at Durational Capital Management, said at the time. 'We have admired the brand and its high quality and craveable food for years, and we look forward to partnering closely with the employees and franchisees to drive its future growth and continued success.' The chain went on to initiate an expansion strategy, which featured menu additions and a new restaurant design concept. Bojangles is not slowing down its expansion and is looking to enter markets with strong unit economics and operational support. Some of these markets include New Jersey, New York, Colorado, and Missouri.
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Bojangles Is Exploring a Sale While the Fried-Chicken Market Is Hot
Bojangles, the fast-food chain that specializes in fried chicken and biscuits, is working with investment bankers to potentially sell itself in a market that's been craving restaurant and chicken companies, according to people familiar with the matter. A sale of Bojangles could fetch more than $1.5 billion, roughly three times what it sold for in a 2019 buyout, the people said. A process would be expected to draw interest from both strategic restaurant operators and other private-equity suitors.
Gulf Business
26-05-2025
- Business
- Gulf Business
Saudi Aramco considers asset sales to free up funds, sources say
Image: Getty Images Saudi state oil giant Aramco is the world's largest oil-producing company and the main source of Saudi state revenue. The firm will slash dividend payouts by nearly a third this year as lower oil prices hit its income. The company has asked investment bankers to pitch ideas for how to raise funds from its assets, the people said. They declined to say which assets could be sold or name the banks involved. Aramco declined to comment. Aramco is looking to improve efficiency and cut costs, according to two other people with knowledge of the matter, and an option under consideration would be asset sales, one of them said. The four sources declined to be named because they are not authorised to speak to media. Aramco is the engine of the Saudi economy and its sprawling business includes units for aviation, construction and sports. It has retained majority stakes during previous asset sales such as its deals around its pipeline infrastructure. The Saudi government is putting pressure on its industries to improve profitability amid low crude prices and as it spends its hydrocarbon wealth on new sectors to cut reliance on oil. The kingdom faces a widening budget deficit with the International Monetary Fund saying Riyadh needs a price of oil of over $90 per barrel to balance its books compared to prices of around $60 per barrel in recent weeks. Aramco has in recent years made a push to grow its global footprint, including investing in Chinese refineries, Chilean fuel retailer Esmax and US -headquartered LNG firm MidOcean. The Saudi company said last week it signed 34 preliminary deals potentially worth up to $90 billion with US firms following President Donald Trump's visit to the kingdom.
Bloomberg
08-05-2025
- Business
- Bloomberg
Banker Bonuses Set to Drop as Tariffs Cause Economic Uncertainty
The outlook for some Wall Street bonuses looks grim, with an expected pullback in payouts after a strong 2024 amid economic turmoil caused by the US trade war and geopolitical tensions. Investment bankers, hedge fund employees and asset- and wealth-management professionals are all poised to see lower year-end incentive pay in 2025, according to a report Thursday from compensation consultant Johnson Associates Inc. It's a sharp reversal from last year, when payouts swelled and industry profits soared.
