Blackstone Agrees To Two Major Deals

Blackstone Agrees To Two Major Deals

Blackstone has agreed to merge its Rhodia Acetow business with the cellulose acetate unit of Celanese (NYSE: CE), with Celanese receiving about $1.6 billion in the deal through a dividend. The transaction will create a global provider of a material used in cigarette filters, with Blackstone owning 30% of the new business.

In a separate development, Blackstone has agreed to purchase a majority stake in The Office Group in a deal that values the company at around £500 million. Based in London, TOG is an owner and operator of co-working spaces in Britain with a portfolio of 36 buildings.

Odey Falls -2.5% In Q2, Bets On Economic Recovery

activist short selling Investing investThe LF Brook Absolute Return Fund lost -2.52% in the second quarter of 2021, compared to a positive performance of 7.59% for its benchmark, the MSCI Daily TR Net World Index. Year-to-date the fund has returned 4.6% compared to 11.9% for its benchmark. Q2 2021 hedge fund letters, conferences and more According to a copy Read More

The transactions continue a rush of deals for Blackstone: the firm is one of four private equity shops to complete more than 30 investments so far this year, according to the PitchBook Platform. On the exits front, Blackstone-backed GEMS Education is in the early stages of an IPO in London that could value the business at around $4 billion, per Bloomberg.

Article by PitchBook

No posts to display