Posts filtered by tags: Alvarez Marsal[x]


 

#UAE banks' profits deteriorate; bad loans likely to go up | ZAWYA MENA Edition

UAE banks' profits deteriorate; bad loans likely to go up | ZAWYA MENA Edition Profits of UAE’s top banks continued to deteriorate in the second quarter of the year as interest rates and credit uptake remained low and bad loans grew amid challenging economic conditions.Total interest income of the ten largest banks in the country continued to fall for the third consecutive time by 7.7 percent quarter over quarter, while net income dropped by 3 percent due to lower interest and other operating i...
Tags: Travel, Uae, NPL, Rupert Neil Bumfrey, Alvarez Marsal


NMC's Shetty says will return to #UAE | Reuters

NMC's Shetty says will return to UAE | Reuters NMC Health founder BR Shetty said on Saturday he planned to the return to the United Arab Emirates and denied reports he had fled the country after the hospital group’s implosion under a mountain of previously undisclosed debt.NMC went into administration in April following months of turmoil over its finances and the discovery that it has $6.6 billion in debt, well above earlier estimates.Earlier this month, administrators Alvarez & Marsal took prel...
Tags: Travel, India, United Arab Emirates, Uae, Reuters, NMC, Ernst Young, Shetty, Rupert Neil Bumfrey, Alvarez Marsal, BR Shetty, Reuters NMC Health


EY faces £1bn lawsuit over audit work for NMC Health | Financial Times

EY faces £1bn lawsuit over audit work for NMC Health | Financial Times The administrators to NMC Health are preparing to sue EY for more than £1bn over claims the Big Four audit firm was negligent when it signed off the group’s accounts during a “long term” multibillion-dollar fraud.  NMC Health, the former FTSE 100 healthcare group, collapsed this year after discovering that more than $4bn was apparently hidden from its balance sheet in a large-scale fraud that spanned operations from Abu Dh...
Tags: Travel, London, Abu Dhabi, NMC, Quinn Emanuel, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health


NMC restructuring or sale to be concluded by April 2021 - The National

NMC restructuring or sale to be concluded by April 2021 - The National:The administrators of NMC Health are looking to complete either a lender-led restructuring or a sale of the business by the end of April next year.Advisers working on the restructuring also expect to achieve non-core asset sales quickly, with firm bids for the Luarmia IVF clinics based in Spain and UK-based private hospitals company Aspen Healthcare by early next month, they said on a call to NMC’s lenders on Wednesday.“We wa...
Tags: Travel, UK, Spain, NMC, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, Aspen Healthcare, Luarmia IVF, Max Frangulov


#UAE-based NMC Healthcare placed in administration - Arabianbusiness

UAE-based NMC Healthcare placed in administration - Arabianbusiness:UAE-based NMC Healthcare has been placed in the hands of administrators by the Abu Dhabi Global Markets Courts (ADGM).Richard Fleming and Ben Cairns of Alvarez & Marsal were appointed joint administrators on Sunday. According to a statement, the “light touch” administration process, which relates directly to 36 businesses operating in the UAE, will allow for financial restructuring on “high levels of debt” discovered earlier in ...
Tags: Travel, Uae, Richard Fleming, Rupert Neil Bumfrey, Alvarez Marsal, NMC Healthcare, Ben Cairns, Abu Dhabi Global Markets Courts


Restructuring firm AlixPartners boosts Mideast headcount amid corporate slump | Reuters

Restructuring firm AlixPartners boosts Mideast headcount amid corporate slump | Reuters:Turnaround and restructuring firm AlixPartners is boosting its headcount in the Middle East as corporates seek to cut costs and restructure debt amid the double shock of low oil prices and the coronavirus pandemic.The New York-headquartered firm has recently hired six people in Dubai from one of its competitors, Alvarez & Marsal, and is looking to hire eight to 10 more restructuring specialists next year, sai...
Tags: Travel, New York, Middle East, United Arab Emirates, Dubai, Gulf, Reuters, Mideast, AlixPartners, Rupert Neil Bumfrey, Alvarez Marsal, Chahine, Gabriel Chahine, Saudi Arabia Low


The Co-op supermarket chain will add 1,000 new jobs with 65 new, or improved, stores powered by renewable energy

Hannah McKay/Reuters The Co-op is opening, or extending, 65 stores in the UK as part of its move to focus on local convenience retail. The new stores will run on 100% renewable electricity. Though it's expanding its physical stores, in August the Co-op became the most widely available supermarket on Deliveroo in the UK. Visit Business Insider's homepage for more stories. Britain's sixth-largest grocer will create 1,000 new jobs with a plan to open, or extend 65 stores by the end of the ye...
Tags: UK, Groceries, Trends, Renewable Energy, Tesco, Aldi, E-commerce, Britain, Supermarket, Retail, Morrisons, Spencer, Tesco Britain, Alvarez Marsal, Association of Convenience Stores, Online Delivery


NMC Health Administrators Say They’re Near Bottom of Hidden Debt Pit - Bloomberg

NMC Health Administrators Say They’re Near Bottom of Hidden Debt Pit - Bloomberg:NMC Health Plc’s administrators said that they’ve uncovered most of the hidden debt that caused the Middle East hospital operator to collapse.The caretakers of the business are now looking into a range of options to recover some of those funds, Marija Simovic, managing director at Alvarez & Marsal, the restructuring specialist appointed as joint administrators in April, said in an interview Wednesday.“Do we believe ...
Tags: Travel, Middle East, United Arab Emirates, Oman, Michael Davis, NMC, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, NMC Health Plc, Hidden Debt Pit Bloomberg, Marija Simovic


NMC Health says over 60 bidders have shown interest in international fertility business

  Hospital group NMC Health has received expressions of interest from more than 60 potential bidders for its international fertility business, one of the first non-core assets it plans to sell as part of a recovery plan, its acting CEO said on Wednesday. NMC Healthcare LLC plans to file for administration in Abu Dhabi, the UAE-based hospitals operator said, as it targets a three-year recovery plan involving a debt moratorium, debt restructuring and asset sales. NMC’s acting CEO Michael Davis...
Tags: Travel, Boston, Spain, Abu Dhabi, Uae, Reuters, Michael Davis, NMC, Perella Weinberg Partners, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, NMC Healthcare LLC, Marija Simovic, Eugin IVF


Hospitals group NMC to file for administration in #AbuDhabi - Reuters

Hospitals group NMC to file for administration in Abu Dhabi - Reuters:NMC Healthcare LLC plans to file for administration in Abu Dhabi, the UAE-based hospitals operator said on Wednesday, as it targets a three-year recovery plan involving a debt moratorium, debt restructuring and asset sales.Its London-listed holding company NMC Health Plc is already being run by administrators Alvarez & Marsal after going into administration in April following months of turmoil over its finances. NMC Healthcare...
Tags: Travel, London, Abu Dhabi, Uae, NMC, ABU DHABI Reuters, Rupert Neil Bumfrey, Alvarez Marsal, ADGM, NMC Health Plc, AbuDhabi Reuters, NMC Healthcare LLC


RPT-NMC Health $275 mln rescue financing faces creditor opposition - sources - Reuters

RPT-NMC Health $275 mln rescue financing faces creditor opposition - sources - Reuters:NMC Health has secured loan commitments worth $275 million in a deal which would allow the lenders to improve their prospects of recovering money already owed by the United Arab Emirates troubled hospital operator, two sources said.But the financing, which offers beneficial terms to the debt providers, has created heated discussions among NMC lenders in recent days, with some creditors asking to be more involv...
Tags: Travel, London, United Arab Emirates, Uae, Reuters, NMC, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, NMC Health Plc, RPT NMC


#AbuDhabi's NMC Health secures $250mln bank funding | ZAWYA MENA Edition

Abu Dhabi's NMC Health secures $250mln bank funding | ZAWYA MENA Edition:NMC Health, an Abu Dhabi-based hospital chain, has secured a $250-million financing facility, conditional on a planned second-phase restructuring that would help the group to continue its operations, according to a statement by its administrators from Alvarez & Marsal.The funding agreed by NMC LLC's leading lenders in the UAE will provide the financial security for the business and will ensure that it can provide healthcare...
Tags: Travel, Abu Dhabi, Group, Uae, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, Abudhabi, NMC Health an Abu Dhabi, NMC LLC


NMC seeks up to $250 million ahead of #UAE insolvency proceedings: sources - Reuters

NMC seeks up to $250 million ahead of UAE insolvency proceedings: sources - Reuters:Hospital operator NMC Health is looking to raise up to $250 million in debt while it prepares for insolvency proceedings in the United Arab Emirates and has picked Perella Weinberg Partners to advise it on the process, sources said.The company, run by administrators Alvarez & Marsal, has also tasked Perella to advise it on the sale of UK-based Aspen Healthcare, a company it acquired in 2018, the two sources famil...
Tags: Travel, UK, London, United States, United Arab Emirates, Uae, Reuters, NMC, Perella Weinberg Partners, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, NMC Health Plc, Abu Dhabi Global Markets ADGM, Aspen Healthcare, Perella


Yas Holding looks to buy part of NMC's distribution business - sources | ZAWYA MENA Edition

Yas Holding looks to buy part of NMC's distribution business - sources | ZAWYA MENA Edition:Abu Dhabi investment group Yas Holding is looking to buy a part of hospital operator NMC Health's distribution business, three sources told Reuters.Administrators from Alvarez & Marsal were appointed in April to oversee NMC Health after months of turmoil over its finances.Shortly afterwards they launched sales processes for NMC's assets, which include the company's international fertility business, to rai...
Tags: Travel, Abu Dhabi, Reuters, NMC, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, Yas Holding


UPDATE 1-Perella Weinberg to advise on NMC's fertility unit sale -sources - Reuters

UPDATE 1-Perella Weinberg to advise on NMC's fertility unit sale -sources - Reuters:The administrators of hospital operator NMC Health have selected Perella Weinberg Partners to advise on the sale of its international fertility business, two sources familiar with the matter said on Monday. NMC bought a controlling stake in Spain-based fertility business Clínica Eugin in 2015 for an enterprise value of 143 million euros ($161 million). It also has operations in Italy, Portugal, Sweden, Brazil and...
Tags: Travel, Spain, Reuters, NMC, Perella Weinberg, Perella Weinberg Partners, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health, Clínica Eugin, Italy Portugal Sweden Brazil, Columbia NMC


NMC administrators consider sale of international fertility business: sources - Reuters

NMC administrators consider sale of international fertility business: sources - Reuters:The administrators of hospital operator NMC Health are weighing the sale of the company’s international fertility business, which could be worth more that $500 million, sources familiar with the matter said on Wednesday.Administrators from Alvarez & Marsal were appointed in April to oversee NMC Health after months of turmoil over its finances.NMC, founded by Indian entrepreneur B.R. Shetty, is the largest pri...
Tags: Travel, Reuters, NMC, Shetty, Rupert Neil Bumfrey, Alvarez Marsal, NMC Health


NMC Health requests delisting from LSE - Reuters

NMC Health requests delisting from LSE - Reuters:Troubled hospital operator NMC Health (NMC.L) said on Monday it requested its shares be delisted from the London Stock Exchange after they were suspended two months ago. General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. REUTERS/Satish Kumar Shares in the UAE-based company were suspended two months ago and it was placed into administration this month following an application form one of the ...
Tags: Travel, London Stock Exchange, Uae, ABU DHABI United Arab Emirates, Richard Fleming, NMC, Rupert Neil Bumfrey, Alvarez Marsal, Abu Dhabi Commercial Bank ADCB, NMC Health, Satish Kumar, NMC Health NMC, LSE Reuters


NMC Succumbs to Administration After Giving In to Creditors - Bloomberg

NMC Succumbs to Administration After Giving In to Creditors - Bloomberg:Just two years after its market value soared to more than $10 billion, NMC Health Plc was placed in administration by a London court as the troubled health-care provider succumbed to creditor demands. NMC, the Middle East’s largest hospital operator, will be run by administrators Alvarez & Marsal, Judge Sebastian Prentis said via videoconference Thursday. It’s a boost for state-owned Abu Dhabi Commercial Bank PJSC, which is ...
Tags: Travel, London, Middle East, NMC, Rupert Neil Bumfrey, Alvarez Marsal, Prentis, Bavaguthu Raghuram Shetty, NMC Health Plc, Abu Dhabi Commercial Bank PJSC, Creditors Bloomberg, Sebastian Prentis


Highview Capital buys Gold Star Foods, will merge with Good Source Solutions

Highview Capital has acquired Gold Star Foods Inc, a food distributor to K-12 child nutrition programs. No financial terms were disclosed. As part of the agreement, Gold Star will merge with Highview portfolio company Good Source Solutions. The newly combined company will be called GS Foods Group and Sean Leer will serve as CEO. PRESS RELEASE ONTARIO, Calif.–(BUSINESS WIRE)–Highview Capital, LLC (“Highview”) today announced that it has acquired Gold Star Foods, Inc. (“Gold Star” or “the Company”...
Tags: Trends, Usda, United States, Ontario, Company, Los Angeles CA, School Nutrition Association, PE Deals, Alvarez Marsal, Gold Star, Gold Star Foods, Castle Harlan Inc, Highview Capital LLC, Sean Leer, Consumer/Retail, Highview Capital


Turnaround firm Alvarez & Marsal to boost Gulf presence amid downturn - Reuters

Turnaround firm Alvarez & Marsal to boost Gulf presence amid downturn - Reuters:Turnaround firm Alvarez & Marsal, which ran Lehman Brothers after the bank’s collapse in 2008, plans to almost double its staff in the Gulf by 2020 to take advantage of a slowdown in growth and increasing distress in the real estate sector. Dubai property prices have fallen since a mid-2014 peak, hurt by weaker oil prices and muted sales, although the slide has not come close to the more than 50 percent drop in 2009-...
Tags: Travel, Dubai, Gulf, Reuters, Lehman Brothers, Alvarez, Rupert Neil Bumfrey, Alvarez Marsal, Middle East Drake Scull International DSI


Assessing the State of the #UAE Banking Sector – Bloomberg

Assessing the State of the U.A.E. Banking Sector – Bloomberg:Saeeda Jaffar, managing director and Middle East co-head at Alvarez & Marsal, discusses the consolidation in the U.A.E. banking sector. She speaks on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Middle East, Rupert Neil Bumfrey, Alvarez Marsal, Bloomberg Daybreak, Saeeda Jaffar, UAE Banking Sector


Riverside acquires ADA as an add-on

The Riverside Company has acquired ADA Solutions, a provider of solutions for the visually impaired. No financial terms were disclosed. The transaction was an add-on acquisition for Riverside portfolio company SureWerx. Golub Capital provided debt financing for the deal. PRESS RELEASE The Riverside Company, a global private equity firm, has acquired ADA Solutions. ADA designs, develops and distributes detectable warning surface and way-finding solutions for the visually impaired that address fed...
Tags: Trends, Healthcare, Ada, Riverside, Roberts, Eric Nowlin, Brad Roberts, Riverside Company, PE Deals, Alvarez Marsal, Riverside Company The Riverside Company, Linda Xu, Golub Capital, Suzy Kriscunas, Kriscunas, Anne Hayes


Permira to back sushi provider Hana, TA Associates exits

Permira has agreed to invest in Hana Group, a provider of sushi to grocery retailers. No financial terms were disclosed. As a result of the deal, TA Associates will exit its investment in Hana. PRESS RELEASE Hana Group (“Hana” or “the Company”) has today announced that Permira, the global private equity firm, has entered into a definitive agreement whereby a company backed by the Permira funds will invest in Hana, in partnership with the founders and the management, who will substantially re-inv...
Tags: France, Trends, United States, Luxembourg, Kpmg, Permira, Boston Consulting Group, Hana, Latham Watkins, Rothschild, Weil Gotshal Manges, Yann, PE Deals, Alvarez Marsal, TA Associates, Alix Partners


Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout | ZAWYA MENA Edition

Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout | ZAWYA MENA Edition:Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.Executives from Alvarez & Marsal are camped in Jet Airways’ offices in Mumbai and are taking stock of the airline’s operations and looking into its financial health and record...
Tags: Travel, Abu Dhabi, Mumbai, Etihad, Jet Airways, Reuters, Etihad Airways, Alvarez, Reuters Executives, Rupert Neil Bumfrey, Alvarez Marsal, Naresh Goyal, Jet Airways Ltd


Exclusive: Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout

Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.
Tags: Money, businessNews, Etihad, Jet Airways, Etihad Airways, Alvarez, Alvarez Marsal, Jet Airways Ltd


L Catterton to buy hot sauce maker Cholula

L Catterton has agreed to acquire Cholula, a producer and distributor of hot sauce. No financial terms were disclosed. VACE Partners provided financial advice to Cholula on the deal while Cravath, Swaine & Moore served as legal adviser. And, Kirkland & Ellis, Creel, McKinsey & Company, PwC and Alvarez & Marsal advised L Catterton. PRESS RELEASE Greenwich, Conn. – DECEMBER 12, 2018 – L Catterton, the largest and most global consumer-focused private equity firm in the world, today announced that i...
Tags: Mexico, Trends, Company, GREENWICH Conn, Cravath Swaine Moore, Caribou Coffee, Catterton, Cholula, Jalisco Mexico, CPG, PE Deals, Alvarez Marsal, Global Co, Groupe Arnault, Catterton Latin America, Catterton L Catterton


CORRECTION: Global deal makes Kuwait's KAMCO a top regional player, says CEO | ZAWYA MENA Edition

CORRECTION: Global deal makes Kuwait's KAMCO a top regional player, says CEO | ZAWYA MENA Edition:The CEO of Kuwait’s KAMCO Investment Company has said that his firm has "now taken a major step towards our aim of becoming the top investment firm in the region" following the completion two weeks ago of its purchase of a near-70 percent share in local competitor Global Investment House.KAMCO CEO, Faisal Sarkhou, who has also just become chairman of Global Investment House (Global), said in an emai...
Tags: Travel, Global, Bahrain, Kuwait, KAMCO, Rupert Neil Bumfrey, Alvarez Marsal, Zawya, KAMCO Investment Company, Global Investment House KAMCO, Faisal Sarkhou, Global Investment House Global, NCH Ventures


Balistreri joins Alvarez & Marsal

Alvarez & Marsal said Sept. 25 that Michael Balistreri has joined the firm as a managing director in its corporate finance practice in New York. Balistreri was most recently a managing director in the investment banking division at Canaccord Genuity. PRESS RELEASE ALVAREZ & MARSAL EXPANDS ITS CORPORATE FINANCE PRACTICE Michael V. Balistreri Joins as a Managing Director in New York   New York, NY – September 25, 2018 – Leading global professional services firm Alvarez & Marsal (A&M) is pleased to...
Tags: New York, Trends, People, Canaccord Genuity, Michael, Alvarez, FINRA, Corporate Finance, Alvarez Marsal, Alvarez Marsal A M, Global M A Network, About Alvarez Marsal Companies, Balistreri, Michael Balistreri, New York Balistreri, Canaccord Genuity PRESS RELEASE ALVAREZ MARSAL


Alvarez & Marsal adds Mota as MD for Brazilian team

Alvarez & Marsal has appointed Paulo Mota as a managing director to its global transaction advisory group in Brazil. Previously, Mota was a partner at KPMG in São Paulo, Brazil. PRESS RELEASE SÃO PAULO – September 24, 2018 – Leading global professional services firm Alvarez & Marsal (A&M) announced the addition of Paulo Mota as a Managing Director to its Global Transaction Advisory Group in Brazil. Mr. Mota’s international experience and deep understanding of Brazilian private equity (PE) firms ...
Tags: Asia, Europe, Trends, People, Brazil, Kpmg, Madrid, Latin America, Sao Paulo, Sao Paulo Brazil, Paulo, Alvarez, Transaction Services, Mota, PE, Alvarez Marsal


PE-backed Talus buys Prolific Business Solutions

Talus, a portfolio company of Alvarez & Marsal Capital Partners, has acquired Scottsdale, Arizona-based Prolific Business Solutions, a business service provider. No financial terms were disclosed. The Strawhecker Group served as portfolio adviser to Talus with Winston & Strawn providing legal advice. And, May Potenza Baran & Gillespie provided legal advice to Prolific Business Solutions on the deal. PRESS RELEASE DALLAS and SCOTTSDALE, Ariz., Sept. 17, 2018 /PRNewswire/ — Talus, a leading fintec...
Tags: Trends, Austin, M&a, Capital, Dallas, Scottsdale, Scott, Scottsdale Arizona, Winston Strawn, Winston Strawn LLP, Chase Paymentech, Cruickshank, Alvarez Marsal, Scott Cruickshank, Strawhecker Group, AMCP