In a significant move within the financial sector, Flagstar Bank, N.A., a subsidiary of Flagstar Financial, Inc. (NYSE: FLG), has finalized the sale of its residential mortgage servicing and third-party origination business to Mr. Cooper Group Inc. for approximately $1.3 billion in cash. This transaction is poised to enhance Flagstar’s Common Equity Tier 1 (CET1) […]
Eni, a global leader in the energy sector, has reached a definitive agreement to sell its entire stake in the Nikaitchuq and Oooguruk oil fields in Alaska to Hilcorp, one of the largest private energy companies in the United States with extensive operational experience in the region. This transaction underscores Eni’s strategic focus on optimizing […]
In a significant realignment of business strategy, i3 Verticals, Inc. (NASDAQ: IIIV) has agreed to sell its merchant of record payments business to Payroc WorldAccess, LLC for $440 million. The all-cash transaction, which includes i3 Verticals’ proprietary technology, is expected to close in the fiscal fourth quarter, subject to regulatory approvals and other customary closing […]
In a major strategic move, Shriram Finance Limited (SFL), a leader among India’s non-banking financial companies (NBFCs), has agreed to sell its subsidiary, Shriram Housing Finance Limited (SHFL), to global growth investor Warburg Pincus. The transaction, valued at Rs 4,630 crores, includes equity and convertible instruments of SHFL. Warburg Pincus will execute the purchase through […]
In a strategic move poised to reshape its business landscape, International Flavors & Fragrances Inc (IFF) has announced a definitive agreement to divest its Pharma Solutions division to Roquette, a French powerhouse in plant-based ingredients. The deal, valued at an impressive enterprise value of up to $2.85 billion, benchmarks an enterprise value to EBITDA multiple […]
Veoneer has officially completed the sale of its Restraint Control Systems business to American Industrial Partners Capital Fund VII (AIP Fund VII), a significant transaction first publicized on December 6, 2023. This move marks a pivotal shift in Veoneer’s operational focus, emphasizing the company’s strategic reorientation. The acquisition, involving Veoneer, a leader in Automotive Safety […]