December 2, 1987 |
Paine Webber Group, the latest Wall Street beneficiary of Japan's financial clout, said Tuesday that it will use some of the $300-million cash infusion it received from Yasuda Mutual Life Insurance Co. for acquisitions. "We're looking at brokerages and asset management firms," Paine Webber Chairman and Chief Executive Donald Marron said.
December 1, 1987 |
Paine Webber Group said Monday that it has agreed to sell an equity stake of up to 25% to Japan's Yasuda Mutual Life Insurance Co. to raise capital that it needs to compete more effectively in world securities markets. Paine Webber, a middle-sized investment firm that has lagged behind competitors in the growth of its capital resources, said Yasuda will pay $300 million for common stock warrants and convertible preferred stock that will give it an 18% voting interest.
November 30, 1987 |
The investment firm PaineWebber Group Inc. announced today it has agreed to sell an equity stake of up to 25% to Yasuda Mutual Life Insurance Co., one of Japan's biggest life insurance concerns. Yasuda agreed to buy about 6.74 million shares of PaineWebber's Series A cumulative convertible exchangeable voting preferred stock for $300 million and will receive warrants to buy an additional 375,000 common shares. The transaction, which had been under negotiation since Aug.
September 19, 2001 |
Only a year after selling one of Century City's most prominent skyscrapers, Los Angeles billionaire and real estate investor Marvin Davis has purchased one of Chicago's most prestigious office towers. Financial details of the transaction were not released, but people familiar with the deal say Davis paid about $235 million for 181 West Madison in Chicago. The 50-story tower in the heart of downtown has almost 1 million square feet of space and is close to full occupancy.
January 6, 1990 |
American Express Co. said Friday that it will receive a $200-million cash infusion from Nippon Life Insurance Co., strengthening an alliance between the two financial services giants that began more than two years ago. Under terms of their agreement, Nippon will purchase American Express exchangeable preferred shares, which can be converted at any time to American Express common stock at a share price of $42.50.