News

Marex Group plc announces that it has launched the initial public offering of its ordinary shares. 15,384,615 ordinary shares are being offered, 25% of which are being offered by Marex and 75% of which are being offered by certain selling shareholders (including Amphitryon Limited, in which JRJ Group and BXR Group have an indirect ownership interest). The expected IPO price is currently estimated to be between $18 to $21 per share. The selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 2,307,692 ordinary shares to cover over-allotments. Marex’s ordinary shares are expected to trade on Nasdaq under ticker symbol “MRX”.

Marex Group plc announces that it has confidentially submitted a draft registration statement to the SEC relating to its proposed IPO. The size and price range for the offering have not yet been determined. The IPO is expected to commence after the completion of the SEC review process, subject to market and other conditions. Not an offer to sell, or the solicitation of an offer to buy, any securities. Issued pursuant to Rule 135 under the US Securities Act of 1933. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of that Act.

A BXR shareholder led the $3.2 million Series A equity financing for Treos Bio Limited, whose disruptive computational technology is changing the paradigm of cancer immunotherapy development. Treos uses proprietary therapeutic peptides, produced through commercially scalable processes without need for tumour biopsy, to stimulate clinically effective cancer-specific immune responses in patients predicted to respond by diagnostic tests.

RV Real Estate Investment Fund, owned by BXR shareholders and managed by Hungarian fund manager Hermes, acquired the RoseVille office building in the North Buda district of Budapest from Belgian property developer Atenor. RoseVille is a 15,538 square metre low-rise office building, construction of which was recently completed and which is being let to a combination of international corporates and local businesses.

Uni-select Inc. (TSX:UNS) announces the completion of its sale to LKQ Corporation by way of a plan of arrangement, under which the LKQ’s subsidiary has acquired all of the issued and outstanding shares of Uni-Select for CAD 48.00 per share in cash, representing an enterprise value of approximately CAD 2.8 billion. Uni-select is a leader in the distribution of automotive refinish and industrial coatings and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada and in the U.K. LKQ is a competitor with operations in North America, Europe and Taiwan.

BXR shareholders co-acquired Phoenix Tower, a 34-storey Grade A office tower in Parkway Plaza, Houston as part of a consortium led by US & Canadian fund manager Group RMC.

Aareal Bank AG is a Germany-headquartered provider of financing solutions and services, with a focus on the property industry. A BXR shareholder co-invested with Petrus Advisers in a take-private by a consortium led by Advent, Centerbridge and CPPIB.

Marex Group reports record full-year results for the period to 31 December 2022, including a 29% increase in net revenue to USD 701.5 million and a 53% increase in adjusted operating profit before tax to USD 121.7 million.

Marex plc, the commodity broker, held the third completion of its acquisition of the global ED&F Man Capital Markets business which was announced on August 1, 2022. The UK, US, Australia and Dubai operations are now part of Marex.

XCentric Hotels has completed the sale of its portfolio of budget hotels operated as master franchisee for Benelux of the easyHotel brand to the franchisor easyHotel plc.