IBM to buy Weather Channel’s digital business

By Luisa Beltran — 3 months ago

IBM said Wednesday it agreed to buy The Weather Company‘s B2B, mobile and cloud-based web properties, including WSI, weather.com, Weather Underground and The Weather Company brand. IBM isn’t buying The Weather Channel TV segment. Instead, the Weather Channel will license weather forecast data and analytics from IBM. Financial terms weren’t announced. The Weather Channel is backed by NBC Universal, the Blackstone Group and Bain Capital.

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Blackstone to buy BioMed Realty for $8 bln

By Luisa Beltran — 4 months ago

The Blackstone Group has agreed to buy BioMed Realty Trust Inc. for $23.75 a share or $8 billion. Biomed owns office buildings that cater to life science tenants in Boston-Cambridge, San Francisco, San Diego and Seattle. The deal is expected to close in first quarter 2016.

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Berry Plastics closes $2.45 bln buy of Avintiv

By Luisa Beltran — 4 months ago

Berry Plastics Group Inc. said Thursday it closed its buy of Avintiv Inc. from the Blackstone Group for about $2.45 billion. Charlotte, North Carolina-based Avintiv develops, produces and markets specialty materials used in infection prevention, personal care, and high-performance solutions. Credit Suisse and Barclays advised Berry Plastics. Citi and BofA Merrill Lynch provided financial advice to Blackstone.

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Blackstone real estate Fund VIII closes at $15.8 bln

By Luisa Beltran — 4 months ago

The Blackstone Group said Thursday that its latest global real estate fund closed at $15.8 billion. Blackstone Real Estate Partners VIII is already 20 percent committed. Blackstone currently has two regional opportunistic real estate funds, the $8.2 billion Blackstone Real Estate Partners Europe IV and the $5 billion Blackstone Real Estate Partners Asia.

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Blackstone invests in PMI

By Luisa Beltran — 5 months ago

The Blackstone Group has acquired a “significant” equity stake in the PMI Group. Financial terms weren’t announced. Blackstone has also agreed to provide PMI with a loan for working capital needs in exchange for warrants and certain other rights. PMI is the holding company for PMI Mortgage Insurance, which provides residential mortgage insurance coverage in the United States. Peter J. Solomon Company advised PMI while Blackstone Advisory Partners L.P. advised Blackstone.

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