Ares Management, Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking reached a strategic agreement to collaborate on future business opportunities.
Clayton, Dubilier & Rice managed funds are acquiring a 60% ownership stake in American Greetings. The Weiss Family, descendants of Jacob Sapirstein, who founded the company in 1906, will retain a 40% stake in the business. Terms of the transaction were not disclosed.
The Wall Street Journal reported several Japanese megabanks submitted nonbinding bids for GE’s Japanese commercial finance operations, which are expected to several billion dollars.