Latest Investment management News

Chicago investment firm takes majority stake in Whataburger

Jun. 14, 2019 2:20 PM EDT

SAN ANTONIO (AP) — An investment firm has purchased a majority stake in Whataburger as the Texas-based fast-food company seeks to expand in an increasingly competitive market. Whataburger announced Friday that the purchase by Chicago-based BDT Capital Partners should be finalized by the end of the summer...

KKR to take stake in German publisher Axel Springer

Jun. 12, 2019 6:38 AM EDT

BERLIN (AP) — Global investment firm KKR is set to take a stake in Germany's Axel Springer, the publisher of the mass-circulation Bild daily, in what is described as a strategic partnership. Springer said Wednesday that a holding company owned by KKR-advised funds will launch a cash offer for Springer's...

Private equity firm buying Shutterfly for $1.74 billion

Jun. 10, 2019 8:06 PM EDT

SAN FRANCISCO (AP) — Private equity firm Apollo Global Management is buying online photo publishing company Shutterfly for $51 per share. Apollo will pay $1.74 billion for the 20-year-old company, which became popular offering its users prints and photobooks of their favorite shots. But demand for that...

Hudson's Bay executive leads bid to take retailer private

Jun. 10, 2019 12:21 PM EDT

NEW YORK (AP) — A group of shareholders of Saks Fifth Avenue's parent has made a cash offer to take the struggling department store chain private. The offer, announced Monday, is being led by Hudson's Bay Executive Chairman Richard Baker, Rhone Capital LLC, WeWork Property Advisors, Hanover Investment SA...

The Latest: Putin says no plan for Belarus merger

Jun. 7, 2019 12:24 PM EDT

ST. PETERSBURG, Russia (AP) — The Latest on Russian President Vladimir Putin at an investment forum (all times local): 7:20 p.m. Russian President Vladimir Putin says there is no plan for a full merger of Russia and Belarus. Speaking Friday at an investment forum in St. Petersburg, Putin said the two...

Tokyo-Vegas investment chief gets 50 years in huge scheme

May. 23, 2019 7:08 PM EDT

LAS VEGAS (AP) — The former head of a Tokyo and Las Vegas investment firm was sentenced Thursday to 50 years in prison for bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme that ranks among the largest-ever fraud cases in the U.S. Defendant Edwin...

Former Senate Majority Leader Daschle joins cannabis board

May. 22, 2019 12:01 PM EDT

SIOUX FALLS, S.D. (AP) — Former Senate Majority Leader Tom Daschle has been named to an advisory board of a cannabis investment company. The Argus Leader reports the South Dakota Democrat joined New York-based Northern Swan Holdings Inc. The firm supports companies in the international cannabis industry in...

Onex to buy Canada's WestJet airlines

May. 13, 2019 12:35 PM EDT

CALGARY, Alberta (AP) — Canadian private equity firm Onex Corp. has signed a friendly deal to buy Canada' second largest airline. The all-cash deal for WestJet Airlines Ltd is valued at $5 billion Canadian ($3.71 billion). Onex will pay $31 Canadian (US$23) per share for WestJet. The price represents about...

Arkansas company buys remainder of Branson duck boat fleet

May. 8, 2019 7:03 PM EDT

LITTLE ROCK, Ark. (AP) — The company that originally owned a duck boat that sank on a Missouri lake last summer killing 17 people has sold the remainder of its fleet to an Arkansas-based investment company. Stacy Roberts, who owns DUKW Arkansas, LLC, said that his Hot Springs, Arkansas company purchased 18...

Atlantic City's Ocean Casino is finally making money

May. 5, 2019 9:50 AM EDT

ATLANTIC CITY, N.J. (AP) — A perennially challenged Atlantic City casino will finally turn a profit this month and chart the way forward under the ownership of a New York hedge fund. The Ocean Casino Resort, which until a few weeks ago was known as the Ocean Resort Casino , has greatly reduced its debt and...