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blackstone group lp/the (BX) Key Developments

Aareal, Berlin Reportedly Eyes Westdeutsche

Aareal Bank AG (XTRA:ARL) and Berlin Hyp Immobilien are eyeing acquisition of Westdeutsche ImmobilienBank AG, which is being sold by Erste Abwicklungsanstalt, Reuters reported, quoting people in the know. The process is run by JPMorgan Chase & Co (NYSE:JPM), has stated that Westdeutsche had garnered a dozen expressions of interest, Reuters said. The vendor wants to complete the move by year-end 2014, it added. One of the sources told the Reuters that EAA had picked several suitors, with bids due by an August deadline. Another person said that some of the competitors for Westimmo were offering a price of over €300 million. According to the insiders, buyout firms such as The Blackstone Group L.P. (NYSE:BX), Kohlberg Kravis Roberts & Co. (NYSE:KKR) and Apollo Global Management, LLC (NYSE:APO) had expressed their interest in Westimmo by late May 2014.

Distressed Mortgages of Catalunya Banc Reportedly Spur Bids

George Soros and Oaktree Capital Group, LLC (NYSE:OAK) are leading the bid race for $8.9 billion of distressed mortgages from Catalunya Banc, S.A. owned by Fondo de Reestructuracion Ordenada Bancaria, Bloomberg reported citing three people with knowledge of the matter. Others in the race are The Blackstone Group L.P. (NYSE:BX) along with TPG Capital, L.P., Cerberus Capital Management, L.P. along with The Goldman Sachs Group, Inc. (NYSE:GS) and Lone Star Funds.

Blackstone, Cinven, CPPIB And Others Reportedly Plan To Bid For Assets Of Lafarge And Holcim

The Blackstone Group L.P. (NYSE:BX), Cinven and Canada Pension Plan Investment Board (CPPIB) are exploring a joint bid for €5 billion worth of assets earmarked for sale by Lafarge S.A. (ENXTPA:LG) and Holcim Ltd. (SWX:HOLN), reported Financial Times citing two people familiar with the talks. Others weighing distinct or joint offers include Apollo Global Management, LLC (NYSE:APO), The Carlyle Group LP (NasdaqGS:CG), CVC Capital Partners Limited, Kohlberg Kravis Roberts & Co. (NYSE:KKR), BC Partners and TPG Capital, L.P. Competing cement makers are also expected to evaluate offers for some of the assets. People with the knowledge of the plan said that Lafarge and Holcim are looking to start a competitive sale of those assets as soon as July 2014. Credit Suisse, HSBC, Morgan Stanley and BNP Paribas are managing the auction. Zaoui & Co and Rothschild are advising Lafarge and Goldman Sachs is advising Holcim on the merger. First round bids are expected to be due in September, one person added. Blackstone, Cinven and CPPIB all declined to comment.

Blackstone to Launch New Hedge Fund in Fall

Blackstone is planning to launch a new hedge fund, with a few teams of traders, likely in the fall.

Blackstone And Embassy Group To List Their Indian REIT

The Blackstone Group L.P. (NYSE:BX) and The Embassy Group, LLC are setting up India's first real estate investment trust (REIT) and listing it on one of Indian stock exchanges. Jitendra Virwani, Chairman of The Embassy Group, LLC said, "The Blackstone Group L.P. and The Embassy Group, LLC have a joint portfolio of more than 20 million square feet of offices in India, which is likely to help value their REIT at $2 billion. We are actually gearing up because we feel the pace the government is moving at is faster than what we would want, so it is better to be prepared much earlier than later."

 

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