ABG Sells Equity Stake, Delays IPO
ABG is postponing its planned initial public offering thanks to a couple of new deep-pocketed partners. The New York-based brand marketer said CVC Capital and HPS Investment Partners, along with its current stable of shareholders, have signed definitive agreements to purchase significant equity stakes in the company in a transaction that values it at $12.6 billion in enterprise value. BlackRock, which has been ABG’s largest shareholder since 2019, will retain its majority position. Simon Prop...
ABG Sells Equity Stake, Delays IPO
ABG is postponing its planned initial public offering thanks to a couple of new deep-pocketed partners. The New York-based brand marketer said CVC Capital and HPS Investment Partners, along with its current stable of shareholders, have signed definitive agreements to purchase significant equity stakes in the company in a transaction that values it at $12.6 billion in enterprise value. BlackRock, which has been ABG’s largest shareholder since 2019, will retain its majority position. Simon Prop...
Biden angry after teen cleared of shootings
US President Joe Biden has said he is angry after a teenager who shot dead two men during racial unrest last year in Wisconsin was cleared by a court. The president expressed dismay at the verdict in a written statement although earlier he said he stood by the jury. Kyle Rittenhouse, 18, sobbed as he was acquitted of all charges over the shooting in Kenosha on 25 August 2020. There were low-key protests over the outcome of the trial that has divided the US. Mr Rittenhouse had acknowledged fat...
Biden angry after teen cleared of shootings
US President Joe Biden has said he is angry after a teenager who shot dead two men during racial unrest last year in Wisconsin was cleared by a court. The president expressed dismay at the verdict in a written statement although earlier he said he stood by the jury. Kyle Rittenhouse, 18, sobbed as he was acquitted of all charges over the shooting in Kenosha on 25 August 2020. There were low-key protests over the outcome of the trial that has divided the US. Mr Rittenhouse had acknowledged fat...
