ESR Completes ARA Asset Management Takeover
ESR Cayman completed its 100% acquisition of ARA Asset Management for $5.2bn, less than three months after its shareholders approved the deal. Following the acquisition, ESR is now the world’s third-largest listed real estate investment manager with gross AUM of...
United Beats on Q4 Earnings; Warns of Higher Costs in Q1
American carrier United Airlines reported stronger than expected earnings for Q4 ended December with revenues coming in at $8.19bn, above estimates of $7.96bn but 25% below Q4 2019 levels. Net loss for the airline narrowed to $646mn vs. a loss of $1.9bn in Q4 2020 and...
FWD Raises $200mn via pre-IPO Funding
Hong Kong insurer FWD raised $200mn in funding ahead of its planned Hong Kong IPO, as per two sources. The sources said that the funds were raised via a private placement with ORIX Corp and Huatai Securities Co. being two new investors. FWD has now raised $1.6bn in...
Ford Sees $8.2bn Gain from Rivian Investment
Ford Motors gave a guidance for its Q4 results saying that it includes an $8.2bn gain on its investment in Rivian Automotive Inc., an American electric vehicle automaker and automotive technology company. Rivian debuted in public markets with a $12bn IPO in 2021 and a...
