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Deutsche Bank is seeking interest from banks and private credit funds for a $200 million loan to assist Blackstone in re-acquiring Trans Maldivian Airways (TMA), valued at under $500 million. The loan, potentially carrying an interest rate of 10% or lower, is still under negotiation.TMA, the largest amphibious seaplane operator globally, has undergone several ownership changes, with Blackstone initially acquiring it in 2013. After being sold to Bain Capital in 2017, TMA is now majority-owned by Carlyle Group, which is reportedly considering a sale valuing the airline between $500 million and $700 million.
Citigroup is expanding its investment banking team in Japan, anticipating a rebound in the country's deal fee pool after years of stagnation. The firm plans to increase its workforce by 15%, focusing on merger advisory and securities underwriting, as companies prioritize shareholder returns. With over $230 billion in mergers and acquisitions last year, Citigroup has climbed to sixth in Japan-related merger advisory for 2025, reflecting a growing optimism in the market.
Deutsche Bank is exploring interest in a $200 million loan to support Blackstone's bid for Trans Maldivian Airways (TMA), with potential interest rates around 10% or lower. Blackstone's offer is under $500 million, and terms of the loan remain negotiable. TMA, the world's largest seaplane operator, has seen improved travel demand post-pandemic, operating a fleet of 65 aircraft and over 400 daily flights.
Bain Capital has acquired a majority stake in an Italian software firm, marking a significant investment in the technology sector. This move underscores Bain's commitment to expanding its portfolio in the software industry, reflecting ongoing trends in digital transformation.
Greek fintech firm Qualco Group is exploring an initial public offering (IPO) to enhance its operations in Europe and the Middle East, with the Athens Stock Exchange as a potential listing venue. Currently, discussions are in the early stages, and no decisions have been finalized regarding the IPO's size or timeline. Qualco specializes in credit management, serving clients in over 30 countries, including major institutions like BNP Paribas and Banco Santander.
UBS is reportedly in talks to acquire a stake in 360 One, a prominent Indian wealth management firm, reflecting the country's increasing significance in global banking strategies. This move aligns with a broader trend, as HSBC also aims to expand its presence in India's wealth management sector, targeting high-net-worth individuals beyond major cities. India's wealth landscape is rapidly evolving, with a notable rise in high-net-worth and ultra-high-net-worth individuals, indicating a lucrative market for foreign investment.
Chinese President Xi Jinping met with top tech entrepreneurs, including Jack Ma and Ren Zhengfei, to bolster support for the private sector amid economic challenges and a trade war with the U.S. Xi emphasized the need to eliminate barriers for fair market competition.In other news, X has begun blocking links to the encrypted messaging app Signal, citing potential harm, despite Elon Musk's previous endorsement of the platform for privacy. Meanwhile, OpenAI cofounder Ilya Sutskever's new venture, Safe Superintelligence, is reportedly raising funds at a $30 billion valuation, focusing on advanced AI development.
UBS has maintained a Neutral rating and a $23 price target for Intel, as the company progresses with its $28 billion investment in Ohio's Silicon Heartland, despite previous delays. Intel's stock has gained 11.9% over the past week, but it faces challenges with negative cash flow and earnings per share of -$3.76. The company is also making strategic moves, including a spin-off of Intel Capital and launching new AI-focused processors, while exploring options for its manufacturing operations amidst ongoing industry transitions.
Bain Capital's pursuit of a controlling stake in Manappuram Finance is encountering delays due to disagreements over transaction terms with the company's promoters. While Bain is primarily interested in acquiring the gold loan portfolio, other banks and NBFCs are also showing interest as negotiations stall. The promoters, led by VP Nandakumar, hold a 35.25% stake and discussions for a stake sale began in early November.
Prosus has invested $80 million in Mintifi, acquiring a 10.65% stake in the Indian supply-chain financing startup, which allows distributors to procure inventory and pay later. This investment will be recorded as an equity-accounted associate due to Prosus's significant influence on Mintifi's board. The ongoing funding round has attracted interest from major investors, including Ontario Teachers' Pension Plan and private equity firms like Bain Capital and Advent International.
Bain Capital Specialty Finance, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
deutsche bank seeks 200 million loan for blackstone's trans maldivian acquisition
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08:04 02.12.2024
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