By Ryan Dezember WSJ Wed., April 3, 2019 Apollo Global Management LLC and a group of other big investors had black gold in mind when they acquired oil-and-natural-gas producer EP Energy Corp. in a leveraged buyout seven years ago. Instead, the debt-fueled deal has delivered black eyes. Last month, EP warned in a securities filing that its ability to remain a going concern is in doubt because of a looming payment on some of the $4.25 billion of debt it shouldered to help Apollo and its partners buy the company for $7.15 billion. EP also wrote down the value of its West Texas drilling fields by $1.1 billion. Since January, its shares have been trading below $1—giving the company a market value of about $67 million—and are at risk of being removed from the New York Stock Exchange. The tumbling stock, which closed at 26 cents on Tuesday, has reduced the value of the buyout group’s controlling stake to about $50 million. That is a sliver of the … [Read more...] about Buyout Debt Threatens Apollo’s Big Shale Bet
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Three Dallas automotive dealerships have been acquired by a family-run Florida ownership group. Roundtree Automotive Group sold the dealerships to Ed Morse Automotive Group of Delray Beach. Terms of the sale weren't disclosed.The dealerships will be renamed as:Freedom Chevrolet by Ed Morse, 8008 Marvin D. Love Freeway Freedom Buick GMC by Ed Morse, 3837 W. Wheatland Road Freedom Chrysler Dodge Jeep Ram by Ed Morse, 815 E. Camp Wisdom Road. "It's tremendously exciting to be expanding outside of Florida, which has been our home for over 70 years," said Teddy Morse, chairman and CEO of Ed Morse Automotive Group and grandson of the founder. "Dallas is a market that we've coveted for a long time and look forward to establishing our trusted family name in such an important region." Ed Morse Automotive Group, family owned for over 70 years, operates 16 dealerships that sell 13 automotive brands. The Dallas dealerships add over 260 employees to its 900-employee base. It was … [Read more...] about Dallas automotive group sells to family-owned Florida firm expanding into Texas
By Katherine Feser Published 7:00 am CST, Friday, November 30, 2018 Nicholas Residential, a privately-held real estate investment firm in Dallas, has acquired the Skyhawk apartments at 17231 Blackhawk Blvd. in Friendswood. The property is now known as Bellevue at Clear Creek. Nicholas Residential, a privately-held real estate investment firm in Dallas, has acquired the Skyhawk apartments at 17231 Blackhawk Blvd. in Friendswood. The property is now known as Bellevue at Clear Creek. Photo: Nicholas Residential Photo: Nicholas Residential Image 1 of / 7 Caption Close Image 1 of 7 Nicholas Residential, a privately-held real estate investment firm in Dallas, has acquired the Skyhawk apartments at 17231 Blackhawk Blvd. in Friendswood. The property is now known as Bellevue at Clear … [Read more...] about Dallas investor splashes into Houston apartment market
Sections SEARCH Skip to content Skip to site index Log In Subscribe Log In Today’s Paper The Upshot | The Biggest, Richest Cities Won Amazon, and Everything Else. What Now for the Rest? Upshot Supported by Various policy approaches could mitigate the economic shocks that globalization and technological change have delivered. Some might even be bipartisan. ByNeil Irwin Nov. 19, 2018 Amazon’s decision to open secondary headquarters in New York and near Washington sends a clear message: There is no Bezos ex Machina on the way for struggling cities, no single big gift from the heavens that will change everything. Instead, we’re living in a world where a small number of superstar companies choose to locate in a handful of superstar cities where they have the best chance of recruiting superstar employees. But what’s the economic future for a Hartford or Akron or Tulsa or the countless smaller … [Read more...] about The Biggest, Richest Cities Won Amazon, and Everything Else. What Now for the Rest?
Jobs boost for Craigavon bakery as it sells quarter share to US company BelfastTelegraph.co.uk Around 50 jobs could be created at a bakery in Craigavon after 25% of the business was sold to a US food giant. https://www.belfasttelegraph.co.uk/business/jobs/jobs-boost-for-craigavon-bakery-as-it-sells-quarter-share-to-us-company-37524605.html https://www.belfasttelegraph.co.uk/business/northern-ireland/article37524604.ece/dd8b6/AUTOCROP/h342/2018-11-14_bus_45713426_I1.JPG Email Around 50 jobs could be created at a bakery in Craigavon after 25% of the business was sold to a US food giant. Evron Foods Group said the sale of a stake to Bama Companies Inc in Oklahoma - a fourth-generation family company - would help fast-track plans for a new factory in Craigavon, bringing with it 50 new posts. The firm, which also has a site in Wales, has been trading for 35 years. Evron, led by Morris Evans, manufactures frozen and chilled bakery products for retail, food service, wholesale and … [Read more...] about Jobs boost for Craigavon bakery as it sells quarter share to US company