Blackstone Said to Acquire GE Capital R/E for $2.7 Billion
Bloomberg reported that the Blackstone Group has agreed to buy 80 U.S. apartment properties from GE Capital for about $2.7 billion.
Bloomberg reported that the Blackstone Group has agreed to buy 80 U.S. apartment properties from GE Capital for about $2.7 billion.
Fesnak and Associates hired Michael S. Buchheit, CPA, as a senior manager in the Assurance & Accounting Services Group. Previously, he worked at Ernst & Young, CBIZ/Mayer Hoffman McCann and The Siegfried Group.
Forbes notes in a recent article on CIT that after it took $2 billion in TARP funds and subsequently went bankrupt, it mounted a “stunning turnaround” after hiring John Thain to “clean up the mess.”
The Kraus Group of Companies announced it secured a $50 million funding line with Wells Fargo Capital Finance. The company said the funding comes on the back of a strong first half performance.
The Huffington Post reported that J.C. Penney board member and activist investor Bill Ackman, founder and CEO of Pershing Square Capital that owns about 18% of J.C. Penney, slammed his colleagues in an open letter.
The Wall Street Journal reported that a corporate-law tribunal is expected on Monday to fast-track Carl Icahn’s legal challenge to Michael Dell’s buyout for Dell, setting up a potential showdown between the two billionaires.
GE Capital’s Commercial Distribution Finance business said it has seen positive trends in the Canadian marine, motorsports and recreational vehicle (RV) industries through H1/13 and expects favorable conditions to continue into 2014.
Prospect Capital said it has provided $80 million of first-lien senior- secured loans and a senior-secured revolver for the recapitalization of Matrixx Initiatives, owner of Zicam, a developer/marketer of OTC cold remedy products.
U.S. corporate bond market rating activity remained muted overall in Q2/13 but with a negative bias, constraining meaningful credit improvement, according to Fitch Ratings.
CFO reports that a new study from Ernst & Young shows that in recent years private-equity-owned firms have outperformed their publicly held peers with the returns they generated for investors.