April 14, 2021

billion

Exclusive: Ingersoll Rand nears $1.7 billion deal to sell golf cart business to Platinum Equity – sources

(Reuters) – Pumps and compressors manufacturer Ingersoll Rand Inc is nearing a deal to sell its golf cart business to private equity firm Platinum Equity LLC for around $1.7 billion, people familiar with the matter said on Sunday.

The deal will separate Ingersoll Rand from a business it acquired in 1995. It is the latest in a series of divestitures that CEO Vicente Reynal has embarked on to pay down debt and streamline the company’s portfolio following the merger last year of Ingersoll Rand’s industrial business with Gardner Denver Holdings Inc.

A deal could be announced as early as Monday,

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Billion $ trade finance blockchain dltledgers switches to Corda, raises $7m – Ledger Insights

Today Singapore trade finance startup #dltledgers announced a US$7 million Series A raise and simultaneously said it’s switching enterprise blockchain technologies from Hyperledger Fabric to R3’s Corda. We asked whether R3 or its directors invested in the Series A but received a ‘no comment’ response.

The funding was led by India’s Regis and Savoy, Vittal, and existing investor Walden International. It follows a previous $2.5 million seed raise from Walden International.

As of five months ago, #dltledgers reported SGD3 billion ($2.22 billion) in trade transactions and today said it had more than 200% YoY growth but did not provide specific

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Insurance Broker Acrisure Raises $3.45 Billion

Fast-growing global insurance brokerage Acrisure announced it has closed on two transactions representing a significant capital raise of $3.45 billion.

BDT Capital Partners, a merchant bank, led a $3 billion investment through its affiliated investment funds into Acrisure’s senior preferred stock.

In addition, a consortium of investors Acrisure says were attracted by its tech-enabled partnership model and its July acquisition artificial intelligence (AI) firm Tulco’s insurance business, has invested $454 million of new capital in junior preferred stock.

Michigan-based Acrisure said these new investments will support the company’s long-term objectives.

“These transactions are a clear reflection of how the market

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Global Business Seen Facing $53 Billion Hit From Deforestation

TipRanks

Analysts Say ‘Buy the Pullback’ in These 3 Stocks

The savvy investor knows that the best time to buy is when a stock is priced low – it’s just the old game of ‘buy low and sell high,’ the age-old advice on how to make money. But with the S&P at near record levels, it’s hard to tell when a stock is priced low. The key is just to take them as individuals. The stock market is the world’s greatest real-time experiment in averaging over large mass numbers. The markets as a whole can go up, while a few

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Chubb Explores Acquisition of $22 Billion Rival Hartford: Bloomberg

Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said.

The New York-listed insurer has made a preliminary takeover approach for Hartford, said the people, who asked not to be identified because the discussions are private. Deliberations are at an early stage and may not lead to a transaction, they said.

A representative for Hartford wasn’t able to immediately comment. A representative for Chubb couldn’t be immediately reached for comment.

Shares of Hartford

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Michigan cities weigh how to spend $4.4 billion windfall from federal stimulus law

In Port Huron, local officials are kicking around the idea of refunding all 2020 property taxes for every commercial, industrial and residential property in the city’s eight square miles.

Such a move would normally bankrupt the international border city of 29,000 residents at the mouth of Lake Huron.

But not after President Joe Biden signed a massive $1.9 trillion economic stimulus bill Thursday, a landmark government spending spree that promises a $19 million sliver for Port Huron.

“We could literally refund the 12 mills of the general property tax from last year and still have $10 million left over,” said

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