Streetbeat News

Acquisitions Mergers

PAX

Patria Investments, along with a consortium including Saudi Arabia's sovereign wealth fund, has won the auction for the concession of the 'Paraná Lote 1' highway system in Brazil. This marks the first investment of Patria Infrastructure Fund V and expands Patria's presence in the toll roads segment. The project, awarded by Brazil's National Transportation Agency, involves 473 kilometers of federal and state roads and is expected to receive total investments of approximately US$ 1.6 billion over 30 years.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:04 pm

AMTD

HKD

AMTD Idea Group (NYSE:AMTD) has announced a $100 million investment into AMTD Digital Inc. (NYSE:HKD) through the purchase of Class B ordinary shares. The shares will be locked up for a period of 5 years, demonstrating AMTD Idea Group's long-term commitment to AMTD Digital's development. The boards of both companies have approved the transaction.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 1:00 pm

BV

URI

BrightView Holdings Inc (BV) has appointed Dale A. Asplund as the new CEO and received a $500 million strategic investment from One Rock Capital Partners. The investment will be used to reduce debt and fuel acquisitions. The company also reported Q3 FY23 revenue of $766 million, missing the consensus of $777.4 million, and adjusted EPS of $0.44, beating the consensus of $0.38.

Portfolio Pulse from Lekha Gupta

August 28, 2023 | 12:57 pm

AAPL

BYDDF

JBL

Jabil Inc has reached a preliminary deal with Chinese EV maker BYD Co., Ltd. for the sale of its Mobility business in a potential transaction worth $2.2 billion. The proceeds from this transaction will be used for share buybacks and further investment in various sectors. The deal could see BE further penetrating Apple Inc's casing supply with higher market share. Jabil's shares traded higher by 6.57% at $110.00 premarket on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 12:49 pm

HT

Hersha Hospitality Trust (NYSE:HT) announced a merger with KSL Capital Partners LLC, with KSL acquiring all outstanding common shares of Hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion. This represents a premium of approximately 60% over Hersha's closing share price on August 25, 2023. The transaction is expected to be completed in Q4 2023, after which Hersha's shares will no longer be listed on any public securities exchange.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 12:39 pm

SBET

SharpLink Gaming Ltd. (NASDAQ:SBET) CEO Rob Phythian issued a letter to shareholders outlining the company's growth strategies and key performance indicators. The company aims to have a profound impact on the U.S. sports betting industry by improving methods for reaching and converting sports fans into sports bettors. SharpLink has focused on acquiring an affiliate marketing company, completing a merger with SportsHub, and expanding its technology development team. The company's internal KPIs align with each component of its C4 solution: Connect, Collect, Convert, and Capitalize. SharpLink is licensed to operate in 24 U.S. states, the District of Columbia, Puerto Rico, and Ontario, Canada.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 12:38 pm

BYDDF

BYDDY

JBL

Jabil Inc has reached a preliminary agreement for the potential sale of its Mobility business to BYD Electronic for $2.2 billion. This has resulted in a rise in Jabil's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 12:29 pm

APO

PK Airfinance and affiliates of Apollo Global Management (APO) are set to acquire a $920M portfolio of secured aviation loans from Standard Chartered. The sale and transfer of the loans are subject to customary closing conditions and is expected to close by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 12:28 pm

SFTBF

SFTBY

SoftBank Group Corp is planning a specialized AI tour for founders of its Indian startups in Silicon Valley in September. The initiative aims to expose these founders to global AI leaders, potentially facilitating collaborations and advancing technological advancements. SoftBank is also considering making chip designer Arm Holdings Ltd public, with an expected valuation of $60 billion - $70 billion. The company has a cash reserve exceeding $40 billion and has invested over $140 billion into startups since 2017, primarily focusing on AI's potential.

Portfolio Pulse from Anusuya Lahiri

August 28, 2023 | 12:05 pm

THRN

Thorne HealthTech, Inc. (NASDAQ:THRN) has entered into a definitive agreement to be acquired by L Catterton for $10.20 per share in cash, a 94% premium to the unaffected price. The transaction, valued at approximately $680 million, has been unanimously approved by Thorne's independent Special Committee and Board of Directors. The deal is expected to be completed in Q4 2023, subject to customary closing conditions and regulatory approvals.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 12:02 pm