Stake Financial News

Federal prosecutors claimed Sam "SBF" Bankman-Fried “doubled down” on the use of customers’ funds when he purchased Binance’s $2 billion stake in FTX in 2021. According to U.S. government attorneys, Bankman-Fried paid for the buyout with funds from FTX customers.

Legal respite: China Evergrande's court hearing deferred to Dec 4; judge gives last chance for resolution plan The property developer's dollar bonds last traded at about 2.25 cents on the dollar on Tuesday, according to LSEG data, as bondholders weigh the possible recoveries in the revised restructuring plan against other options like a winding up. A lawyer representing an ad hoc group of key bondholders told a Hong Kong court on Monday the restructuring plan could have a higher recovery rate for creditors than a liquidation scenario of less than 3%.

Man Group said the deal was the 'first step' in its new partnership with F-ISPB, which will focus on creating a range of technology-enabled alternative and long-only investment strategies.

ASX-listed fund manager Regal Partners acquired a 50 per cent stake in global commodities financier Taurus Funds Management which will lift Regal’s assets under management to $8 billion.

Billionaire Chris Ellison’s Mineral Resources has snared a 19.8 per cent stake in a new lithium target with links to MinRes chairman James McClements.

Crescent Capital Partners, the acquisitive Sydney-headquartered private equity firm is making another play in its favourite sector, this time diving into a local clinical trials business, Street Talk understands.

NIIF) and Macquarie Group are in early stages of discussions to acquire a significant minority stake in Tecso Charge Zone, which operates top electric vehicle (EV) charging stations Charge+Zone, said multiple people aware of the development. According to people aware of the development, Charge Zone is likely to raise about ₹300-350 crore from these investors. It's part of the series B round -where the startup plans to raise about $110 million (₹900 crore) at ₹1,500 crore valuation, said sources.

Insurance Corporation (LIC) of India initial share sale in May last year would be a disappointed lot today. As against the issue price of ₹949 apiece, the stock closed at ₹605 on the BSE on Monday. This implies that state-run LIC has lost more than a third of its value since then.

Kasikorn Bank, also known as K-Bank, spent $102m to acquite its stake in the Satang crypto exchange, which will now be rebranded as Orbix.

Thailand’s second-largest bank, Kasikorn Bank, widely known as K-Bank, has acquired a 97% stake in the parent company of the established Satang crypto exchange.

Yes Bank has acquired additional shares in J.C. Flowers Asset Reconstruction (JC Flowers ARC) to reinstate the bank’s stake to 9.9% in the company, the private lender informed in its filing to the exchanges in the wee hours on Saturday. On November 28, 2022, the bank had acquired 9.9% of the equity share capital of JC Flower ARC, which fell to 5.01% as a result of certain corporate actions in JC Flowers ARC, the filing said. «In accordance with a share subscription and purchase agreement, the bank has now acquired additional shares in JC Flowers ARC so as to reinstate the bank’s stake to 9.9%,» the exchange filing said. Shares of Yes Bank ended at Rs 16 on the NSE up 0.63% on Friday. YES Bank reported a 47.4% year-on-year (YoY) growth in net profit for the quarter ended September to Rs 225 crore.

Cipla's managing director and global CEO Umang Vohra said on Friday that reports over the possible sale of promoters' stake in the company and the uncertainty surrounding it is making people within the company anxious. «I am definitely anxious. As a human being, I am anxious because so many things depend on this decision,» Vohra said in a post quarterly earnings call with reporters.

As proof of stake networks see a surge in stake rates, a consequent plummet in staking yields is concerning investors and market watchers. According to a third-quarter report from Staked, a subsidiary of the Kraken exchange, the average staking yield for the top 35 stakable cryptocurrencies has dwindled to a record-breaking low. Staking crypto has often been touted as a way to generate passive income, but the declining yields have raised questions about its long-term viability and potential regulatory implications.

Rajiv Rattan, one of the founding members of Indiabulls, has acquired a 50% stake of its joint venture (JV) partner Lone Star Funds in RattanIndia Finance for Rs 611 crore (about $73 million) in an all-cash deal, multiple persons with knowledge of the development. The rift between the two was triggered three years ago after Lone Star alleged that Rajiv Rattan had misused money belonging to the company. Rattan, also the promoter of RattanIndia Power, has denied any wrongdoing. In May 2021, the global private equity fund firm approached the Delhi bench of the National Company Law Tribunal (NCLT) against RattanIndia Finance, alleging irregularities and mismanagement in the company.

(Reuters) -Stellantis NV on Thursday announced a 1.5 billion euro ($1.6 billion) deal to acquire a 20% stake in China's Leapmotor (HK:9863) Technology in a move that gives the European automaker a vital foothold in the world's largest auto market.

By Gilles Guillaume and Giulio Piovaccari

Whitehaven Coal has asked the Takeovers Panel to compel activist investor Bell Rock Capital Management to disclose the full size of its shareholding in the miner amid concerns the hedge fund has “misled” other investors about the size of the vote it will wield at Thursday’s annual shareholder meeting.

Tech Mahindra board has approved a proposal to sell its 30% stake in Avion Networks for $50,000"Exciting news! Mint is now on WhatsApp Channels

Medibank wants you to see the doctor. Street Talk understands the $9.7 billion ASX-listed private health insurance giant is negotiating with Myhealth Medical Group’s largest shareholder, founder James Liang, to buy out his stake.

UnitedHealth Group Incorporated (NYSE:UNH) is primarily owned by approximately 17 institutional investors, collectively holding about 89% of the company's shares. These investors constitute majority stakeholders with a 50% ownership stake, significantly influencing the company's share price. Individual investors often perceive this substantial investment as a vote of confidence in UnitedHealth Group's future prospects.

General Atlantic on Sunday said it will acquire a minority stake in Indian online B2B travel distribution platform Travel Boutique Online (TBO) for an undisclosed sum. For the deal, General Atlantic entered into an agreement with entities held by Affirma Capital. Subsequent to this transaction, Affirma Capital will continue to remain invested in TBO, the company said in a statement.