Streetbeat News

Assets

ARES

Ares Management Corporation has closed its largest U.S. real estate fund, raising $3.3 billion for opportunistic investments. This fund, AREOF IV, focuses on distressed assets and special situations, marking a significant increase from its predecessor.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:35 am

ASIX

AdvanSix has received a $12 million grant from the U.S. Department of Agriculture to support its SUSTAIN initiative, aimed at expanding ammonium sulfate fertilizer production in Hopewell, VA.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:32 am

APO

BP

BP has sold a $1 billion non-controlling stake in its Trans Adriatic Pipeline subsidiary to Apollo, while retaining control. The deal aligns with BP's strategy to focus on gas and low-carbon projects, and contributes to its divestment targets. BP and Apollo plan to explore further investment opportunities together.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:16 am

AA

Alcoa has agreed to sell its 25.1% stake in a joint venture with Ma'aden for $1.1 billion, including $950 million in Ma'aden shares. This transaction will simplify Alcoa's portfolio in Saudi Arabia and provide greater financial flexibility.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 6:52 am

MSTR

Cryptocurrency markets are on the rise with Bitcoin nearing $60,000, driven by expectations of a Federal Reserve rate cut. MicroStrategy's recent Bitcoin acquisition and Bitcoin Spot ETFs inflows are notable developments. Analysts suggest this may be a last chance to buy Bitcoin at lower prices.

Portfolio Pulse from Khyathi Dalal

September 14, 2024 | 6:56 am

JTURB

SEI

J Turbines Inc has reported a 21.1% stake in Solaris Energy Infrastructure Inc as of September 11, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:20 pm

NR

Newpark Resources has sold its Fluids Systems segment to SCF Partners for a base price of $127.5 million, with net proceeds of $56 million. The sale will generate tax benefits and lead to a reclassification of the segment as Discontinued Operations. Newpark plans to use the proceeds for investments and share buybacks.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:17 pm

CLF

Cleveland-Cliffs shares are rising following the successful amendment of its $4.75 billion Asset-Based Lending facility, which is part of the financing for its pending acquisition of Stelco Holdings Inc.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:53 pm

CLF

Cleveland-Cliffs has secured a $4.75 billion amended asset-based lending facility to support its acquisition of Stelco. The facility replaces Goldman Sachs with increased commitments from multiple banks. CEO Goncalves emphasized strong support and a solid financial position to close the deal by Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:52 pm

MSTR

MicroStrategy's stock is rising following its announcement of purchasing 18,300 bitcoins.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:40 pm