Hints and tips:
...(Justin and I reported on private equity’s struggles in the shale patch earlier this year.) 2....
...Muriel Siebert had died in 2013, and Ms Gebbia bought the stake from her estate using a Nevada LLC called Kennedy Cabot Acquisition, in addition to a handful of shares purchased from minority shareholders...
...In all, 27 companies raised £2.7bn during the three month period. Cabot posted operating profits of £124.7m in 2016 on revenues of £270.2m. Collections on its purchased loans portfolio were £358.7m....
...The companies expect that the deal will generate cost and capital synergies worth about $2.5bn, according to one person with knowledge of the terms....
...Mr Flowers, whose company manages a $2.3bn fund raised in 2008, moved to London last year to focus on investments in Europe, where he has also looked at deals in Ireland and Spain....
...In May it acquired a stake in Cabot, Britain’s biggest debt collector, in a move to buy distressed consumer loans from banks....
...Bank of America rallied 5.2 per cent to $9.03, Goldman Sachs shares rose 1.7 per cent to $116.69 and JPMorgan was up 2.2 per cent to $39.93....
...That pushed explorers down with Cabot Oil & Gas off 3.6 per cent to $67.15, though the group said it was earning as much as $4 per mbtu of gas from production in the Marcellus Shale....
...Coal miner Peabody fell 3.4 per cent to $36.95, while Cabot Oil & Gas lost 5 per cent to $81.49....
...Cabot Oil & Gas was up 0.9 per cent, to $37.69, but Denbury Resources was down 1.4 per cent to $19....
...The S&P 500 financials index was by far the biggest faller, slumping 2.2 per cent....
...Shares in Songbird, which have lost more than 97 per cent of their value over the past year, nearly doubled to 2.7p in early London trading....
...of their children, seeking to recover $30m in lost investments and almost $9m in brokerage and investment management fees paid by their private family foundation to Mr Bielfeldt and Bielfeldt Company, LLC...
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