Who acquires stake in online loans firm creditmate

MILAN: Italy's top flight Serie A clubs will decide on Thursday whether to sell a stake in the league's key revenue driving media business to a private equity consortium. The move would be the latest sign of growing private equity in sports leagues and clubs who are battling with revenue losses due to COVID-19 restrictions. Germany's Bundesliga, New Zealand rugby's All Blacks and international volleyball, amongst others, are also looking to such funds for investment. CVC Capital Partners, Advent International and the state-backed Italian fund FSI are bidding for a 10per cent stake in a new unit that will handle Serie A’s broadcast rights. The sale would need the support of 14 of the 20 Serie A clubs at Thursday's meeting in order to proceed. After months of negotiations, some clubs have continued to express reservations but the impact of COVID-19 has added urgency to the need for funds. Weighed down by a combined debt burden of 4.3 billion euros, many clubs’ finances … [Read more...] about Serie A to vote on selling stake to private consortium

Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector. Illustration: Dominic Xavier/ Rediff.com Foreign investors are nervous, so much so that at least two deals on merger and acquisition worth a combined $1,500 million in renewable energy are at stake. The reasons: Policy volatility, Centre-state differences, lack of power contracts, and the incapability of states to pay for renewable power. Concerned, the Ministry of New & Renewable Energy has called a consultative meeting between state governments and key investors including sovereign funds like the Abu Dhabi Investment Authority and Singapore’s GIC. Sources said discussions with Thai energy conglomerate PTT Group, which was in talks to acquire 48 per cent in ReNew Power, had hit a roadblock. PTT was in talks with Goldman Sachs since July for the stake buy. Similarly, another deal in which Japanese financial services … [Read more...] about Green policy flip-flops spook foreign investment firms

NEW YORK: Athene Holding has expressed interest in buying a 19.9 per cent stake in American International Group's life and retirement business, Athene's chief executive, Jim Belardi, told Reuters on Wednesday. "I have no idea what will happen and whether we're in the mix or not, but we've expressed interest and we'll see what happens," Belardi said. AIG said earlier Wednesday that it has received inquiries from "high-quality companies" interested in the unit. AIG said last October that it intended to separate the business through an IPO or sale of a 19.9 per cent stake. The comments come as insurers are offloading capital-heavy assets at a frenzied pace to free up capital and reposition their businesses. Belardi said Athene has capacity to acquire US$90 billion in assets and "a healthy pipeline of inorganic deals as we speak." Athene's track record with large, complex deals and its cooperation with alternative asset manager Apollo Global Management Inc prompts sellers to … [Read more...] about Athene expresses interest in 19.9% stake in AIG’s life and retirement unit

SINGAPORE - A number of initiatives, including vouchers for families and extended wage subsidies for sectors hardest hit by the Covid-19 pandemic, were announced by Deputy Prime Minister Heng Swee Keat on Tuesday (Feb 16). Households will get more rebates and vouchers to spend in the heartland, while lifelines for firms in sectors like aviation and tourism will be extended for a few more months. Here are 10 highlights: 1. More help for families, including $100 vouchers A $900 million Household Support Package will be rolled out for families amid the ongoing economic uncertainty. The package includes vouchers that each household can use to defray expenses and support local businesses, as well as service and conservancy charge (S&CC) rebates and goods and services tax (GST) vouchers. About 1.3 million households will receive $100 Community Development Council (CDC) vouchers that can be used at participating heartland shops and hawker centres. Eligible … [Read more...] about Highlights of Budget 2021: From household vouchers to GST on imported low-value goods bought online

SINGAPORE: Fewer Singapore businesses ventured overseas last year amid the COVID-19 pandemic, but more took on projects to raise productivity and build new capabilities, said Enterprise Singapore (ESG) on Friday (Feb 5). The number of local businesses going overseas dropped 38 per cent to 1,600, which was expected due to global travel restrictions, the government agency said in its annual review. Among those that continued to pursue internationalisation, they did so in different ways such as participating in virtual trade fairs and online networking events. They also tapped e-commerce platforms to market and sell their products and solutions. ESG’s CEO Png Cheong Boon told reporters that these digital platforms allowed businesses to quickly establish and maintain market presence despite the travel curbs in place. China and Southeast Asia remained the top markets that local firms were interested in, he added. Speaking to reporters at the same press conference, Trade and … [Read more...] about Fewer Singapore firms expanded overseas last year, but more press on with productivity efforts