Hipgnosis Songs’ board previously recommended a takeover bid from music company Concord Music, which valued the company at $1.4 billion. This prompted Blackstone to come back with an improved offer of $1.30 per share and close to $1.6 billion in total, which is now expected to be accepted by the shareholders.

Hipgnosis Songs was founded in 2018 by music industry veteran Merck Mercuriadis and record producer and The Chic frontman Nile Rodgers. The company heavily invested in purchasing music rights for songs from a wide range of artists, with the goal of acquiring a steady stream of revenue and becoming attractive to investors.

However, the company’s future looked murky in recent times due to a number of executive changes and rising interest rates that brought down the value of its assets and plummeted Hipgnosis Songs shares.

“The breadth of the Blackstone platform, combined with our operational expertise, will support and enhance the value of the acquired rights,” said Qasim Abbas, a senior managing director at Blackstone, announcing the purchashe agreement for Hipgnosis Songs.

The post Blackstone Reaches $1.6 Billion Takeover Agreement for Hipgnosis Songs appeared first on theprimarymarket.com.

Founded in 1975, IGI is the largest independent geological institute worldwide. Prior to the acquisition, Fosun owned 80% of the company while the remaining 20% of the company was owned by the Lorie family. The majority of the company’s profits and revenues come from India.

Since being founded by Marcel Lorie, IGI has established 29 laboratories and 18 schools of gemology spanning 10 countries, with the majority of its labs being located in India.

“IGI has spearheaded the certification of natural diamonds, lab-grown diamonds, and colored stones, becoming a global market leader and providing confidence to manufacturers, retailers, and consumers around the world,” Mukesh Mehta, a Senior Managing Director in Blackstone Private Equity Group said of the company following the purchase.

The post Blackstone Acquires International Gemological Institute appeared first on theprimarymarket.com.

Hipgnosis Songs’ board previously recommended a takeover bid from music company Concord Music, which valued the company at $1.4 billion. This prompted Blackstone to come back with an improved offer of $1.30 per share and close to $1.6 billion in total, which is now expected to be accepted by the shareholders.

Hipgnosis Songs was founded in 2018 by music industry veteran Merck Mercuriadis and record producer and The Chic frontman Nile Rodgers. The company heavily invested in purchasing music rights for songs from a wide range of artists, with the goal of acquiring a steady stream of revenue and becoming attractive to investors.

However, the company’s future looked murky in recent times due to a number of executive changes and rising interest rates that brought down the value of its assets and plummeted Hipgnosis Songs shares.

“The breadth of the Blackstone platform, combined with our operational expertise, will support and enhance the value of the acquired rights,” said Qasim Abbas, a senior managing director at Blackstone, announcing the purchashe agreement for Hipgnosis Songs.

The post Blackstone Reaches $1.6 Billion Takeover Agreement for Hipgnosis Songs appeared first on theprimarymarket.com.

Founded in 1975, IGI is the largest independent geological institute worldwide. Prior to the acquisition, Fosun owned 80% of the company while the remaining 20% of the company was owned by the Lorie family. The majority of the company’s profits and revenues come from India.

Since being founded by Marcel Lorie, IGI has established 29 laboratories and 18 schools of gemology spanning 10 countries, with the majority of its labs being located in India.

“IGI has spearheaded the certification of natural diamonds, lab-grown diamonds, and colored stones, becoming a global market leader and providing confidence to manufacturers, retailers, and consumers around the world,” Mukesh Mehta, a Senior Managing Director in Blackstone Private Equity Group said of the company following the purchase.

The post Blackstone Acquires International Gemological Institute appeared first on theprimarymarket.com.