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Stock Market & Financial Investment News

News Breaks
April 10, 2014
09:16 EDTBX, RTKRentech announces $150M investment from Blackstone's GSO Capital
Rentech (RTK) announced that GSO Capital Partners LP, the credit investment arm of Blackstone (BX), will invest $150M in Rentech in the form of $100M of convertible preferred stock and a $50M term loan. The transactions closed on April 9. In connection with this investment, Blackstone/GSO appointed two members to Rentech’s Board of Directors: Douglas Ostrover, a senior managing director of Blackstone and co-founder of GSO Capital Partners, and Patrick Moore, the former chairman and chief executive officer of Smurfit-Stone Container Corporation, a paper-based packaging company with significant wood fibre operations. Rentech also announced a settlement with Concerned Rentech Shareholders, whereby CRS will approve an additional member to join Rentech’s Board of Directors and the board’s newly formed Finance Committee. Proceeds from Blackstone/GSO’s investment will fund identified growth opportunities in Rentech’s wood fibre processing business. Rentech also announced changes to its Board of Directors today: Douglas Ostrover, senior managing director of Blackstone and co-founder of GSO Capital Partners, has joined the board. Mr. Ostrover brings shareholder representation and significant finance experience. He has personally overseen GSO’s deployment of $65 billion of capital. Mr. Ostrover will be the chairman of the board’s Finance Committee. Blackstone/GSO appointed Patrick J. Moore, former chairman and chief executive officer of Smurfit-Stone Container Corporation, to the board.
News For RTK;BX From The Last 14 Days
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March 31, 2015
09:11 EDTBXBlackstone to hold a webcast
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08:04 EDTBXBlackstone announces new electric transmission company GridLiance
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07:27 EDTBXBlackstone quickly raises $14.5B for new real estate fund, WSJ says
In less than four months, Blackstone raised $14.5B from institutional investors for a new real estate fund, which plans to increase its total capital to $15.8B by raising an added $1.3B from retail investors, according to The Wall Street Journal, citing a memo sent Friday to investors in the new fund. The same day Blackstone agreed to use its previous real-estate fund to buy three hotels in Florida and Arizona from a group led by John Paulson’s firm for more than $1.2B, the report added, citing people familiar with the matter. Reference Link
07:23 EDTBXBlackstone to buy three hotels for over $1.2B, WSJ reports
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March 19, 2015
07:55 EDTBXMolycorp bondholders led by Apollo close to hiring Blackstone, Bloomberg says
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06:06 EDTBXSunrun powers up for IPO later this year, WSJ reports
Sunrun, a solar-energy company, is said to be working with Credit Suisse (CS) and Goldman Sachs (GS) on a potential IPO for later this year, sources tell The Wall Street Journal, which adds that the company was valued at $1.3B as of March 2014. Other solar companies that have gone public in recent years include residential solar installers like Vivint Solar (VSLR), backed by Blackstone (BX), and SolarCity (SCTY), backed by Tesla's (TSLA) Elon Musk. Reference Link
March 18, 2015
15:22 EDTBXMolycorp creditors close to hiring Blackstone, Bloomberg says
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07:27 EDTBXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:08 EDTBXSome senior Blackstone execs may leave due to spin-off with PJT, Reuters says
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March 17, 2015
14:21 EDTBXBlackstone unlikely to lead bid for Macerich, Bloomberg says
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07:23 EDTRTKRentech sees FY15 Fulghum adjusted EBITDA $16M-$17M
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07:09 EDTRTKRentech reports Q4 EPS excluding items (6c), two estimates (3c)
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