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Disney to invest $60bn in theme parks and cruises over next decade.
Goldman Sachs closes private equity secondary funds at $15.2bn.(FS)
Kioxia's banks to refinance $13.5bn loan for Western Digital merger.
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OMERS Private Equity , a private equity firm, agreed to acquire Knight Commercial , a provider of mitigation, reconstruction, and roofing services. Financial terms were not disclosed.
“Knight Commercial Services has a proud history of success in serving commercial real estate clients with restoration, construction and roofing needs across the country, oftentimes in emergency situation. We are incredibly excited to partner with OMERS Private Equity as we continue to elevate Knight as a global leader within the commercial services sector by honoring our relationships with a comprehensive commitment to excellence," Adam McKelvey, Knight Commercial CEO.
Knight Commercial is advised by Stephens and Akin Gump Strauss Hauer & Feld LLP . OMERS Private Equity is advised by Harris Williams , Cravath, Swaine & Moore LLP (led by Peter Feist and Maurio Fiore ) and Weil, Gotshal & Manges LLP . Debt financing is provided by Citizens M&A Advisory , SMBC Nikko Securities Inc. and TD Securities .
A $15.2bn tender offer to take Toshiba private is set to succeed, private equity firm Japan Industrial Partners, clearing the way for Japan's biggest deal this year.
JIP's tender offer, which closed, ends Toshiba's 74-year history as a listed firm and puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. Now that JIP has gained a two-third majority, the remaining shareholders would be squeezed out upon a vote at a planned emergency shareholder meeting. Toshiba shares would then be delisted by as early as December.
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Toshiba is advised by J.P. Morgan , Mizuho , Nomura , UBS , Morrison Foerster , Nagashima Ohno & Tsunematsu , Nishimura & Asahi , White & Case LLP and Kekst CNC (led by Jochen Legewie ). JIP is advised by Crosspoint Advisors , Davis Polk & Wardwell LLP (led by Ken Lebrun ), De Brauw Blackstone Westbroek (led by Stephanie The and Pete Lawley ), Hengeler Mueller (led by Thomas Meurer ), Shearman & Sterling LLP , Slaughter and May (led by Richard Hilton) and TMI Associates .
Disney to invest $60bn in theme parks and cruises over next decade.
The Walt Disney Company plans to spend $60bn to expand its theme parks, cruise lines and similar ventures over the next decade, WSJ reported.
The company said that because of its strong financial standing it could invest more in its parks, experiences and products division. Disney announced the increased investment.
Goldman Sachs closes private equity secondary funds at $15.2bn. (FS)
Goldman Sachs Asset Management has closed its latest private market secondaries fund Vintage IX at $14.2bn, as a challenging exit landscape pushes more and more managers to tap alternative liquidity sources, DealStreetAsia reported.
The New York-headquartered firm also raised an additional $1bn for its Vintage Infrastructure Partners vehicle, which targets opportunities in infrastructure secondaries.
The Vintage Funds, which provide liquidity solutions to private market limited partner investors and general partner fund managers, represent a flagship of Goldman Sachs’ alternatives franchise, with leadership in the secondaries space since 1998 and over $45bn of assets under management as of June 30, 2023.
Kioxia's banks to refinance $13.5bn loan for Western Digital merger.
KIOXIA Group 's lenders are planning to refinance JPY2tn ($13.5bn) in loans to support its potential merger with Western Digital 's flash memory business, Reuters reported.
Sumitomo Mitsui Financial Group , Mizuho and MUFG intend to submit a commitment letter for the refinancing next month. Under the terms of the deal being negotiated, Western Digital will hold about 50.5% of the combined company with the remaining 49.5% held by Kioxia, Bloomberg reported, adding that Western Digital's hard drive business is not expected to be part of the deal.
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