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United States

Blackstone Group LP (BX.N)

BX.N on New York Stock Exchange

39.49USD
21 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Blackstone says expects $150 bln+ for 2nd half ’18–2019 fundraising pipeline
Friday, 21 Sep 2018 08:19am EDT 

Sept 21 (Reuters) - Blackstone Group LP ::SAYS EXPECTS $150 BILLION+ FOR 2ND HALF ’18–2019 FUNDRAISING PIPELINE - INVESTOR DAY PRESENTATION.SAYS CLEAR PATH TO 50 PERCENT-PLUS FEE-RELATED EARNINGS GROWTH IN ROUGHLY 2 YEARS AND AROUND $2/SHARE IN NEXT SEVERAL YEARS - PRESENTATION.  Full Article

Blackstone Makes All-Cash Offer For PNB Housing Finance- ET
Wednesday, 19 Sep 2018 08:50am EDT 

Sept 19 (Reuters) - :BLACKSTONE MAKES ALL-CASH OFFER FOR PNB HOUSING FINANCE- ET, CITING SOURCES.  Full Article

Thomson Reuters Announces Cash Tender Offer For About $650 Mln Of Debt Securities
Wednesday, 19 Sep 2018 06:30am EDT 

Sept 19 (Reuters) - Thomson Reuters Corp ::THOMSON REUTERS ANNOUNCES CONDITIONAL CASH TENDER OFFER FOR APPROXIMATELY US$650 MILLION OF DEBT SECURITIES.TENDER OFFER IS IN ADDITION TO CONDITIONAL REDEMPTIONS OF ABOUT $1.7 BILLION OF SEPARATE SERIES OF DEBT SECURITIES ANNOUNCED ON SEPT 5.PLANS TO USE ABOUT $4 BILLION OF PROCEEDS FROM F&R DEAL TO FUND TENDER OFFER, CONDITIONAL REDEMPTIONS & TO REPAY INDEBTEDNESS.EARLY TENDER DEADLINE OF THE CASH TENDER OFFER IS 5:00 P.M., NEW YORK CITY TIME, ON OCT 2, UNLESS EXTENDED.FINAL SETTLEMENT DATE FOR THE CASH TENDER OFFER EXPECTED TO BE OCTOBER 19, 2018.  Full Article

Investa Office Grants Oxford Properties Group Access To Due Diligence
Monday, 17 Sep 2018 11:39pm EDT 

Sept 18 (Reuters) - Investa Office Fund ::OXFORD PROPERTIES GROUP GRANTED ACCESS TO DUE DILIGENCE.AGREED THAT IT WILL NOT RESTRICT OR AGREE TO RESTRICT OXFORD'S ACCESS TO DUE DILIGENCE INFORMATION FOR A PERIOD OF FOUR WEEKS.OXFORD ENTERED INTO A CONFIDENTIALITY DEED UNDER WHICH OXFORD WILL BE GRANTED ACCESS TO DUE DILIGENCE IN RELATION TO IOF.ILFML CONTINUES TO RECOMMEND THAT UNITHOLDERS TAKE NO ACTION.ILFML DIRECTORS CONTINUE TO UNANIMOUSLY RECOMMEND BLACKSTONE PROPOSAL IN ABSENCE OF A SUPERIOR PROPOSAL.OXFORD HAS AGREED TO STANDARD NO-POACH RESTRICTIONS OF DIRECTORS AND SENIOR EMPLOYEES OF ILFML AND ITS RELATED ENTITIES.OXFORD AGREED NOT TO ACQUIRE FURTHER IOF SECURITIES NOR ENTER INTO EXCLUSIVITY ARRANGEMENTS.STANDSTILL RESTRICTIONS DO NOT RESTRICT OXFORD FROM MAKING A TAKEOVER BID FOR ALL IOF SECURITIES AT A CASH PRICE OF NOT LESS THAN $5.60/UNIT.OXFORD AGREED NOT TO ENTER BINDING ARRANGEMENTS TO FORM CONSORTIUM OR DISCUSS IOF'S CONFIDENTIAL INFORMATION WITHOUT PRIOR CONSENT.  Full Article

Merlin To Sell Its Stake In Testa Residencial To Blackstone Group
Monday, 17 Sep 2018 02:30am EDT 

Sept 17 (Reuters) - Merlin Properties SOCIMI ::AGREES TO SELL ITS STAKE IN TESTA RESIDENCIAL FOR 321.2 MILLION EUROS TO TROPIC REAL ESTATE HOLDING, MANAGED BY BLACKSTONE.THE PRICE IMPLIES AN EQUITY VALUATION OF TESTA OF 1.90 BILLION EUROS.MERLIN, BANCO SANTANDER AND BBVA HAVE FORMALIZED A DEAL WITH BLACKSTONE TO SELL 50.01 PCT OF TESTA RESIDENCIAL.  Full Article

Blackstone in EUR 1 bln deal to buy 60 pct stake in Luminor from DNB, Nordea
Thursday, 13 Sep 2018 01:00am EDT 

Sept 13 (Reuters) - Dnb Asa ::DNB TO SELL SHARES IN LUMINOR.DNB AND NORDEA, WHICH DECIDED TO MERGE THEIR RESPECTIVE BALTIC OPERATIONS IN 2016, HAVE ENTERED INTO AN AGREEMENT WITH BLACKSTONE TO SELL PART OF THEIR SHARES IN MERGED BANK, LUMINOR.BUYER IS A CONSORTIUM LED BY PRIVATE EQUITY FUNDS MANAGED BY BLACKSTONE.AS PART OF TRANSACTION, CONSORTIUM WILL ACQUIRE A 60% MAJORITY STAKE IN BANK FROM ITS CURRENT OWNERS NORDEA BANK AB AND DNB BANK ASA FOR A CASH CONSIDERATION OF EUR 1 BILLION.AFTER TRANSACTION, DNB WILL OWN 20 PER CENT OF SHARES IN LUMINOR GROUP.WE WILL STAY ON AS A MINORITY OWNER IN LUMINOR BECAUSE WE BELIEVE COMPANY IS WELL POSITIONED TO CREATE VALUE FOR CUSTOMERS, EMPLOYEES AND SHAREHOLDERS.TRANSACTION AS SUCH WILL NOT HAVE ANY SIGNIFICANT IMPACT ON DNB GROUP'S OVERALL FINANCIAL RESULTS.  Full Article

Nordea sell ownership in Luminor to Blackstone
Thursday, 13 Sep 2018 01:00am EDT 

Sept 13 (Reuters) - Nordea ::TO SELL ITS OWNERSHIP IN LUMINOR TO BLACKSTONE.SAYS NORDEA, TOGETHER WITH DNB, HAS ENTERED INTO AN AGREEMENT TO JOINTLY SELL 60 PER CENT OF LUMINOR TO A CONSORTIUM LED BY PRIVATE EQUITY FUNDS MANAGED BY BLACKSTONE ("BLACKSTONE").SAYS AS A RESULT OF TRANSACTION, EACH OF NORDEA AND DNB WILL HOLD APPROX. 20 PER CENT OF LUMINOR AND MAINTAIN ONGOING REPRESENTATION ON LUMINOR'S BOARD OF DIRECTORS.SAYS NORDEA AND BLACKSTONE HAVE ADDITIONALLY ENTERED INTO A FORWARD SALE AGREEMENT FOR SALE OF NORDEA'S REMAINING 20 PER CENT STAKE OVER NEAR TO MEDIUM TERM.SAYS DECISION FOR NORDEA TO SELL SHARES IN LUMINOR IS PURSUANT TO NORDEA'S OVERALL AMBITION TO SIMPLIFY AND FOCUS ITS OPERATIONS TO NORDIC CORE MARKETS AND BECOME AN EVEN BETTER BANK FOR ITS CUSTOMERS.SAYS TRANSACTION IS INTER ALIA SUBJECT TO CUSTOMARY REGULATORY APPROVALS AND IS EXPECTED TO CLOSE DURING H1 2019.SAYS AGREED PURCHASE PRICE IN UPFRONT SALE OF APPROX. 36 PER CENT STAKE DIVESTED BY NORDEA IS EUR 0.6 BILLION, VALUING LUMINOR, WHICH CURRENTLY GENERATES A MID-SINGLE DIGIT NORMALISED ROE, AT APPROX. EUR 1.7 BILLION.SAYS FORWARD SALE OF NORDEA'S REMAINING 20 PER CENT STAKE WILL BE CARRIED OUT AT A FIXED VALUATION OF 0.9X P/BV.SAYS IN ADDITION TO UPFRONT SALE AND FORWARD SALE NORDEA WILL CONTINUE TO PROVIDE FUNDING TO LUMINOR OVER MEDIUM TERM, TOGETHER WITH TRANSITIONAL SERVICES UNTIL 2020.  Full Article

Investa Says ICPF To Sell 19.99% Of IOF To Oxford Properties
Wednesday, 12 Sep 2018 10:57pm EDT 

Sept 13 (Reuters) - Investa Office Fund ::ICPF'S AGREEMENT TO SELL 19.99% OF IOF TO OXFORD PROPERTIES.ANNOUNCES ICPF'S AGREEMENT TO SELL 19.99% OF IOF TO OXFORD PROPERTIES GROUP.ILFML BOARD IS CURRENTLY CONSIDERING CORRESPONDENCE RECEIVED FROM IWFML.ILFML BOARD ADVISES IOF UNITHOLDERS THAT IT IS NOT NECESSARY TO TAKE ANY ACTION IN RESPONSE TO CORRESPONDENCE FROM IWFML.CONTINUES TO UNANIMOUSLY RECOMMEND THAT IOF UNITHOLDERS VOTE IN FAVOUR OF BLACKSTONE PROPOSAL IN ABSENCE OF SUPERIOR PROPOSAL.  Full Article

Investa Office Fund Says ILFML Receives Proposal From Oxford Properties Group To Acquire Co
Wednesday, 12 Sep 2018 09:52pm EDT 

Sept 13 (Reuters) - Investa Office Fund ::RECEIVED PROPOSAL FROM OXFORD PROPERTIES GROUP TO ACQUIRE 100% OF IOF FOR A CASH PRICE OF $5.60 PER UNIT.ILFML RECOMMENDS THAT UNITHOLDERS TAKE NO ACTION AT THIS POINT.BOARD OF ILFML IS CONSIDERING OXFORD PROPOSAL.ILFML DIRECTORS CONTINUE TO UNANIMOUSLY RECOMMEND BLACKSTONE PROPOSAL IN ABSENCE OF A SUPERIOR PROPOSAL..  Full Article

Blackstone's Luminor deal could boost banking competition -Lithuania c.bank chief
Wednesday, 12 Sep 2018 04:20pm EDT 

Sept 13 (Reuters) - Lithuanian central bank governor Vitas Vasiliauskas said in a statement::BLACKSTONE'S LUMINOR DEAL WOULD GIVE BALTIC BANKING MARKET A STRONG INVESTOR, COULD BOOST COMPETITION IN BANKING INDUSTRY.  Full Article

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Blackstone looks to manage $1 trillion by 2026

NEW YORK Blackstone Group LP , the world's largest manager of alternative investments such as private equity and real estate, said on Friday it could be overseeing $1 trillion in assets by 2026.