Streetbeat News

Acquisitions Mergers

TRSSF

TerrAscend Corp. has entered into a definitive agreement to acquire Peninsula Alternative Health, a medical dispensary in Maryland, for $22.1 million. The acquisition will expand TerrAscend's retail footprint to 35 dispensaries nationwide and is expected to be immediately accretive to the company on an EBITDA and cashflow basis.

Portfolio Pulse from Vuk Zdinjak

June 09, 2023 | 1:10 pm

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PACW

Kennedy-Wilson Holdings Inc (NYSE:KW) has acquired the first tranche of a loan portfolio from Pacific Western Bank, a subsidiary of PacWest Bancorp (NASDAQ:PACW), for $1.6 billion. The deal is part of a previously announced $5.7 billion loan portfolio acquisition. The transaction will add over $2 billion to fee-bearing capital and boost KW's debt investment platform.

Portfolio Pulse from Lekha Gupta

June 09, 2023 | 12:33 pm

KAVL

Kaival Brands Innovations Group (NASDAQ:KAVL) has acquired an extensive patent portfolio from GoFire, Inc. to expand its product offerings and explore near and long-term revenue opportunities.

Portfolio Pulse from Charles Gross

June 09, 2023 | 12:15 pm

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V

Visa is in advanced talks to acquire Brazilian cloud-based payment and banking platform provider Pismo, with a potential deal announcement by June. The acquisition is worth $1 billion, and Pismo had previously raised $108 million from investors including SoftBank and Amazon.

Portfolio Pulse from Anusuya Lahiri

June 09, 2023 | 11:43 am

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UBS

Credit Suisse and its joint venture partner are seeking buyers for its loss-making China Securities brokerage business due to its takeover by UBS Group. Citigroup showed interest in buying the business. Chinese regulations prevent one entity from holding two licenses for majority-owned brokerages.

Portfolio Pulse from Lekha Gupta

June 09, 2023 | 11:42 am

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UBS

UBS Group AG has signed a loss protection agreement with the Swiss government following its acquisition of Credit Suisse Group AG. The deal states that UBS will handle potential losses of the first CHF 5 billion, and the Swiss government will cover losses of the next CHF 9 billion. UBS will also pay the Swiss government a guarantee fee.

Portfolio Pulse from Lekha Gupta

June 09, 2023 | 10:49 am

DAVA

Endava has announced the acquisition of DEK Corporation Pty Ltd, DEK Technologies Sweden AB, and DEK Vietnam Company Ltd. DEK has 660 employees and is headquartered in Melbourne, Australia, with additional offices in Vietnam and Sweden.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 10:34 am

WDH

Waterdrop has agreed to acquire up to 100% of the equity interest of Shenzhen Cunzhen Qiushi Technology Co., Ltd. and its subsidiaries for an aggregate consideration of RMB360.0 million ($52.6162 million) through multiple closings.

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 10:06 am

KW

Kennedy Wilson (KW) has acquired the first tranche of a $5.7 billion loan portfolio from Pacific Western Bank for $1.6 billion. The first tranche, totaling $3.25 billion in total commitments and $1.8 billion in current principal balance, was acquired by KW and affiliates of Fairfax Financial Holdings Limited (TSX:FFH).

Portfolio Pulse from Benzinga Newsdesk

June 09, 2023 | 10:03 am

AWK

Pennsylvania American Water, a subsidiary of American Water (NYSE:AWK), has signed an agreement to purchase Farmington Township's water and wastewater systems for $5.545 million. The company plans to invest over $3 million for system improvements.

Portfolio Pulse from Happy Mohamed

June 08, 2023 | 8:52 pm