HALISTER: KKR and CDPQ to Buy USI Insurance From Onex for $4.3b

KKR and CDPQ to Buy USI Insurance From Onex for $4.3b

(Bloomberg) -- KKR, CDPQ and USI employees to acquire USI Insurance from Onex and its affiliates for $4.3b; KKR and CDPQ will have equal ownership.
  • Deal expected to close by end of 2Q
  • Investment will primarily be made via KKR and CDPQ’s PE partnership
  • USI has more than 4,400 employees in 140 U.S. offices
  • March 16, KKR Said to Near Deal to Buy Onex’s USI Insurance For $2b: WSJ
Statement

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
KKR US (KKR & Co LP)
ONEX CN (Onex Corp)
1118Z CN (Caisse de depot et placement du Quebec)

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UUID: 7947283

HALISTER: Onex Corp. to Sell USI Insurance to KKR and CDPQ for $4.3b

Onex Corp. to Sell USI Insurance to KKR and CDPQ for $4.3b

(Bloomberg) -- Follows WSJ story from March 16 that said KKR near deal to buy USI from Onex for $2b, or $4b including debt. Statement: KKR and CDPQ Acquire USI, a Leading Insurance Brokerage and Consulting Firm To contact the reporter on this story: Arie Shapira in New York at ashapira3@bloomberg.net

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
KKR US (KKR & Co LP)
ONEX CN (Onex Corp)

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UUID: 7947283

HALISTER1: *KKR & CDPQ BUY USI FROM ONEX IN DEAL VALUED AT $4.3B

*KKR & CDPQ BUY USI FROM ONEX IN DEAL VALUED AT $4.3B

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
KKR US (KKR & Co LP)
ONEX CN (Onex Corp)
1118Z CN (Caisse de depot et placement du Quebec)

People
Edward Bowler (USI Holdings Corp)
Kristi Huller (KKR & Co LP)
Michael Sicard (USI Holdings Corp)
Tagar Olson (KKR & Co LP)

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UUID: 7947283

HALISTER1: Wall Street Journal: Brazil cases against politicians include corruption, money laundering on.wsj.com/2nfenUY

Wall Street Journal: Brazil cases against politicians include corruption, money laundering on.wsj.com/2nfenUY

Brazil cases against politicians include corruption, money laundering on.wsj.com/2nfenUY
Wall Street Journal @WSJ
 
Sent With: SocialFlow
 

Original tweet on Twitter.com found here.

Twitter profile information as of March 17, 2017

Description: Breaking news and features from the WSJ.

Tweets: 192,343  Following: 1,066  Followers: 13,341,158  Tweeting Since: 4/1/2007  Twitter Verified

Alert: HALISTER1
Source: TWT (Twitter)

Topics
Major Media Tweets
Twitter Verified Handles

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UUID: 7947283

HALISTER1: Use Recent Tightening to Add Short 10Y France vs Bunds: Barclays

Use Recent Tightening to Add Short 10Y France vs Bunds: Barclays

(Bloomberg) -- Dutch election results undershot worst fears from a populism perspective, yet uncertainty around French elections is unlikely to disappear until the second round has passed; initiate short 10y France vs Germany, writes Barclays strategists including Cagdas Aksu in a client note.
  • Given much bigger negative consequences of a Le Pen victory from a markets’ perspective, this is not a risk that will be priced out soon
    • 10y French spreads currently at around 60bp are not too far from where they would be even if Le Pen loses (project ~50bps)
  • Recommend closing 10y Austria–Germany wideners trade, and initiate short FRTR 0.50% 05/2026 vs DBR 0% Aug 26
    • Keep EGB widening view in the form of short 10y Spain vs Germany; even if Le Pen’s prospects diminish in coming weeks, ECB’s less dovish stance should help keep a high risk premium in EGB spreads associated with ECB normalization

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Cagdas Aksu (Barclays PLC)

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UUID: 7947283