Centerbridge Partners

Allied Climate Partners Announces Ahmed Saeed as Chief Executive Officer

Retrieved on: 
Friday, June 16, 2023
DFI, Bloomberg Philanthropies, White House, HSBC, Private sector, Bank, Climate, Public sector, IEA, ETM, Senior advisor, International financial institutions, Special, Public, White & Case, JPMorgan Chase, Development finance institution, GFANZ, Carbon, Government, Energy transition, Blackstone, Organization, Treasury, Goldman Sachs, African Development Bank, Temasek, Climate change, UN, Asian Development Bank, White House Fellows, Entrepreneurship, ADB, MDB, United States Department of the Treasury, Centerbridge Partners, White, ACP, US Treasury specimen book, Cairns Group, Renewable energy, Security (finance), Construction, Pacific Ocean

NEW YORK, June 16, 2023 /PRNewswire/ -- Allied Climate Partners (ACP), a newly-established philanthropic investment organization focused on climate, today announced the appointment of Ahmed Saeed as Chief Executive Officer.

Key Points: 
  • NEW YORK, June 16, 2023 /PRNewswire/ -- Allied Climate Partners (ACP), a newly-established philanthropic investment organization focused on climate, today announced the appointment of Ahmed Saeed as Chief Executive Officer.
  • "There simply aren't enough bankable, climate related projects and businesses in emerging economies," said Ahmed Saeed, incoming CEO of Allied Climate Partners.
  • Mr. Saeed brings extensive, relevant experience to Allied Climate Partners.
  • "People in emerging economies, while least responsible for causing the climate crisis, bear the greatest costs," said Mark Gallogly, Chair of Allied Climate Partners and Co-Founder of Three Cairns Group.

Garrett Motion Converts Series A Preferred Stock Into Common Stock

Retrieved on: 
Tuesday, June 13, 2023
Oaktree Capital Management, Common stock, Share repurchase, FICC, Preferred stock, Depository Trust Company, Garrett, GTX, Centerbridge Partners, Common, Security (finance)

“It will also enable the Company to engage more effectively with the investment community with greater liquidity and a normalized capital structure.”

Key Points: 
  • “It will also enable the Company to engage more effectively with the investment community with greater liquidity and a normalized capital structure.”
    Effective after the close of market on June 12, 2023, trading of the Series A Preferred Stock on Nasdaq was suspended, and each holder of shares of Series A Preferred Stock as of the conversion was deemed to hold one share of Garrett’s Common Stock (Nasdaq: GTX) for each share of Series A Preferred Stock previously held.
  • Additionally, on or prior to June 20, 2023, all holders of the Series A Preferred Stock as of the conversion will receive, in respect of each share of Series A Preferred Stock held immediately prior to the conversion, a payment of the accrued and unpaid dividends on the Series A Preferred Stock through June 30, 2023, plus an additional amount that represents the dividends that would have accrued on the Series A Preferred Stock through September 30, 2023.
  • In the aggregate, this additional payment per share of Series A Preferred Stock will be comprised of $0.144375 in cash, and approximately 0.104379 shares of Common Stock (representing $0.853509 in accrued and unpaid dividends per share of Common Stock, valued at $8.177 per share), subject to adjustment to avoid the issuance of fractional shares of Common Stock.
  • As a result of the conversion, Garrett will have one class of shares outstanding, the Common Stock, and an enhanced cash flow profile from the elimination of the 11% Series A Preferred Stock dividend.

INDUS Announces Quarterly Cash Dividend

Retrieved on: 
Monday, June 12, 2023
Residential Building & Real Estate, Banking, Commercial Building & Real Estate, Urban Planning, Construction & Property, REIT, Professional Services, Building Systems, Architecture, Other Construction & Property, Finance, Plan, Date, Tripura Merger Agreement, Committee, Centerbridge Partners, GIC, Foreign investment, Committee on Foreign Investment in the United States, Holding company, Mergers and acquisitions

INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”) a U.S.-based industrial/logistics REIT, announced that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.18 per share for the second quarter of 2023.

Key Points: 
  • INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”) a U.S.-based industrial/logistics REIT, announced that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.18 per share for the second quarter of 2023.
  • The dividend will be payable on June 28, 2023 (the “Payment Date”) to stockholders of record on June 22, 2023 (the “Record Date”).
  • The Merger was approved at a special meeting of INDUS stockholders held on May 17, 2023.
  • INDUS cannot predict when or if all of the conditions to the Merger will be satisfied or, to the extent permissible, waived, and when the closing of the Merger will occur.

Sabre Announces Successful Completion of Previously Announced Private Financing and Settlement of Cash Tender to Strengthen Balance Sheet and Improve Free Cash Flow

Retrieved on: 
Tuesday, June 13, 2023
Wardwell, Partnership, Travel, PIK, Senior, SABR, Norton Rose Fulbright, Paul, Weiss, Rifkind, Wharton & Garrison, Sabre Corporation, Bank, Sabre, Centerbridge Partners

The transaction enables the company to strengthen its balance sheet by refinancing and extending a significant portion of its capital structure's 2025 maturities and provides financial flexibility and improved free cash flow via a payment-in-kind (PIK) interest toggle through 2025.

Key Points: 
  • The transaction enables the company to strengthen its balance sheet by refinancing and extending a significant portion of its capital structure's 2025 maturities and provides financial flexibility and improved free cash flow via a payment-in-kind (PIK) interest toggle through 2025.
  • "We are pleased to be a capital partner to Sabre, helping to strengthen its balance sheet by refinancing a significant portion of its nearest-dated maturity," said Gavin Baiera, Senior Managing Director at Centerbridge.
  • Perella Weinberg Partners LP acted as financial advisor and Davis Polk & Wardwell LLP and Norton Rose Fulbright LLP acted as legal counsel to Sabre on the transaction.
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP and Allen & Overy LLP acted as legal counsel to Centerbridge.

EQS-News: Atlantic BidCo GmbH: Atlantic BidCo completes the voluntary public takeover offer for Aareal Bank AG  

Retrieved on: 
Saturday, June 10, 2023
FGS Global, Aareal Bank, Bidding, CPP Investment Board, Advent International, FGS, TEL, Centerbridge Partners, Security (finance)

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
  • The Bidder now owns approximately 90 percent of the share capital and the voting rights of Aareal Bank.
  • Olaf Zapke, FGS Global, Tel +49 170 764 1971, [email protected]
    Markus Stoker, FGS Global, Tel +49 162 245 3946, [email protected]
    Roland Klein, Kekst CNC, Tel +44 7776 162 997, [email protected]
    Isabel Henninger, Kekst CNC, Tel +49 174 940 9955, [email protected]

EQS-News: Atlantic BidCo’s voluntary public takeover offer for Aareal Bank AG to be closed

Retrieved on: 
Monday, May 22, 2023
European Central Bank, Aareal Bank, Housing, Bidding, Digital Solutions, Central bank, Advent International, Acquisition, Investment, ECB, International investment agreement, Growth, Digital, Bank, Centerbridge Partners, Environment, CPP Investment Board, Software, Security (finance)

Atlantic BidCo had secured around 84 per cent of Aareal Bank shares at an offer price of €33.00 per share in the course of a voluntary public takeover offer last year.

Key Points: 
  • Atlantic BidCo had secured around 84 per cent of Aareal Bank shares at an offer price of €33.00 per share in the course of a voluntary public takeover offer last year.
  • At completion, the Bidder said it will own around 90 per cent of the shares.
  • Following the closing of the transaction, Aareal Bank Group will continue to pursue its strategic goals based on the “Aareal Next Level” strategy.
  • Jochen Klösges, CEO of Aareal Bank said, “Aareal Bank Group has demonstrated that its strategy is viable even under very challenging conditions.

EQS-News: Atlantic BidCo GmbH: Atlantic BidCo receives all regulatory approvals to complete the voluntary public takeover offer for Aareal Bank AG – Settlement of takeover offer expected in June

Retrieved on: 
Monday, May 22, 2023
FGS Global, European Central Bank, Aareal Bank, Bidding, CPP Investment Board, Central bank, Advent International, FGS, EUR, ECB, TEL, Centerbridge Partners, Security (finance), Holding company

Frankfurt, 22 May 2023 – Atlantic BidCo GmbH (the “Bidder”) today announced that, following the approval by the European Central Bank (“ECB”), it has now obtained all regulatory clearances related to the voluntary public takeover offer for the shares of Aareal Bank AG (“Aareal Bank”).

Key Points: 
  • Frankfurt, 22 May 2023 – Atlantic BidCo GmbH (the “Bidder”) today announced that, following the approval by the European Central Bank (“ECB”), it has now obtained all regulatory clearances related to the voluntary public takeover offer for the shares of Aareal Bank AG (“Aareal Bank”).
  • With today’s approval by the ECB, all offer conditions have now been fulfilled and the settlement of the takeover offer will take place by 7 June 2023.
  • Shareholders that accepted the offer will receive the consideration of EUR 33.00 per tendered Aareal Bank share.
  • Following closing of the takeover offer, the Bidder will own approximately 90 percent of the share capital and the voting rights of Aareal Bank.

INDUS Stockholders Approve Merger at Special Meeting

Retrieved on: 
Wednesday, May 17, 2023
Commercial Building & Real Estate, Construction & Property, REIT, Agreement, Plan, Tripura Merger Agreement, Committee, Foreign investment, GIC, Centerbridge Partners, Proxy, Committee on Foreign Investment in the United States, Common, Holding company, Mergers and acquisitions

INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced that at a special meeting of stockholders held on May 17, 2023, stockholders voted to approve the previously announced proposed merger, whereby affiliates of Centerbridge Partners, L.P. and GIC will acquire all outstanding shares of INDUS’ common stock (the “Merger”).

Key Points: 
  • INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced that at a special meeting of stockholders held on May 17, 2023, stockholders voted to approve the previously announced proposed merger, whereby affiliates of Centerbridge Partners, L.P. and GIC will acquire all outstanding shares of INDUS’ common stock (the “Merger”).
  • At the special meeting, a total of 8,817,234 shares of common stock of the Company (“Company Common Stock”), representing approximately 86.47% of the outstanding shares of Company Common Stock entitled to vote, were present in person or represented by proxy.
  • Holders of 8,809,681 shares, or 99.91% of the votes cast at the meeting, voted in favor of the Merger.
  • INDUS can provide no assurances regarding whether the Merger will close when expected, or at all.

SHAREHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – CVT, STSA, INDT, ROCC

Retrieved on: 
Wednesday, May 10, 2023
INDT, CVR Partners, Empire, Sale, Primary energy, ROCC, Monteverde, Blackstone Inc., Centerbridge Partners, CVT, Security (finance), Fenthion

Satsuma Pharmaceuticals, Inc. (NASDAQ: STSA ), relating to its proposed sale to Shin Nippon Biomedical Laboratories, Ltd.

Key Points: 
  • Satsuma Pharmaceuticals, Inc. (NASDAQ: STSA ), relating to its proposed sale to Shin Nippon Biomedical Laboratories, Ltd.
  • INDUS Realty Trust, Inc. (NASDAQ: INDT ), relating to its proposed sale to affiliates of Centerbridge Partners, L.P. and GIC Real Estate, Inc..
  • Under the terms of the agreement, INDT shareholders are expected to receive $67.00 in cash per share they own.
  • Under the terms of the agreement, ROCC shareholders are expected to receive 7.49 shares of Baytex and $13.31 in cash per share they own.

Netwrix Announces Strategic Investment from Centerbridge Partners

Retrieved on: 
Tuesday, May 9, 2023
Moelis & Company, LLP, Partnership, Senior, Kirkland & Ellis, PAM, DAG, Ransomware, Active Directory, TA, History, Organization, Jefferies Group, TA Associates, IAM, Piper, DLA Piper, Software, Cryptocurrency, Management, Netwrix, Centerbridge Partners

FRISCO, Texas, May 9, 2023 /PRNewswire/ -- Netwrix, a cybersecurity vendor that makes data security easy, today announced a new strategic investment with Centerbridge Partners L.P. (Centerbridge), a global multi-strategy private equity firm. TA Associates (TA), a leading global private equity firm, remains the majority shareholder, with members of Netwrix's senior management team and Updata Partners retaining minority positions in the business.

Key Points: 
  • Leveraging the new investment and continued partnership with TA, Netwrix aims to expand market leadership in data security solutions.
  • FRISCO, Texas, May 9, 2023 /PRNewswire/ -- Netwrix, a cybersecurity vendor that makes data security easy, today announced a new strategic investment with Centerbridge Partners L.P. (Centerbridge), a global multi-strategy private equity firm.
  • "Netwrix solutions help organizations of any size strengthen their security posture across all the primary attack surfaces: data, identity and infrastructure, as well as ensure regulatory compliance," said Steve Dickson, CEO of Netwrix.
  • "Netwrix has a history of delivering cutting-edge capabilities and excellent employee and customer satisfaction," said Dan Mayleben, Executive Chairman of Netwrix.