On Thursday, Shares of Blackstone Group LP (NYSE:BX), lost -0.82% to $30.39.
Hovnanian Enterprises, Inc. (HOV), a leading national homebuilder, and GSO Capital Partners LP (“GSO”), the credit arm of Blackstone (BX), declared a $175 million improvement to their land banking arrangement.
Funds managed by GSO expect to acquire a portfolio of land parcels from Hovnanian and option finished lots on a monthly takedown basis back to Hovnanian. As of November 30, 2015, GSO has closed on one land parcel totaling 186 lots with total acquisition and future development costs of $24.2 million. GSO and Hovnanian have also reached a non-binding letter of intent to land bank a portfolio of assets totaling about $95 million of land acquisition and future development costs with the expectation to close priority to December 31, 2015.
Over the next six months, GSO and Hovnanian will jointly evaluate other land banking opportunities totaling up to an additional $55 million in acquisition and development costs.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations.
Shares of Amazon.com, Inc. (NASDAQ:AMZN), declined -1.44% to $ 666.25, during its last trading session.
Amazon, declared that Fire, its fastest-selling tablet ever, is now available to customers in China for just RMB 499 Yuan. With access to hundreds of thousands of Kindle books and with English language learning features like Word Wise, Fire is an easy and affordable option for customers who want to read or learn English. Amazon China also recently declared a contract with Baidu, a leading internet services company, to provide a search, apps, and online video experience on Amazon tablets in China.
“We’ve already sold millions of Fire tablets since launch, and we’re excited to now make it available to customers in China,” said Neil Lindsay, Vice President, Amazon Devices. “With millions of readers already using Kindle e-readers in China, we’re excited to now offer another incredibly affordable option, particularly for customers learning to read English. With tools and features like Word Wise and Blue Shade, plus a large selection of Chinese and English content, we think readers will love the new Fire tablet.”
Amazon.com, Inc. operates as an online retailer in North America and internationally. It operates through the North America, International, and Amazon Web Services (AWS) segments. The company serves consumers through retail websites, such as amazon.com, amazon.ca, and amazon.com.mx, which primarily comprise merchandise and content purchased for resale from vendors and those offered by third-party sellers.
Finally, Shares of Vantiv Inc (NYSE:VNTV), ended its last trade with -2.81% loss, and closed at $51.11.
Vantiv, declared that Fifth Third Bank (the “Selling Stockholder”) has agreed to sell 13,374,592 shares of Vantiv`s Class A common stock in an underwritten secondary public offering (the “Offering”) following Vantiv`s shelf registration statement filed with the Securities and Exchange Commission (the “SEC”). The Selling Stockholder will receive all of the proceeds from the Offering.
In addition, Vantiv declared that it terminated the rights of Fifth Third Bank under its preexisting warrant to purchase 4,794,115 Class C Units of Vantiv Holding for aggregate consideration of $200 million. Net of certain anticipated tax related benefits from the partial cancellation of the warrant, the net cash required to cancel the warrant units would be equivalent to $124.0 million.
Assuming the partial cancellation of the warrant and the Offering are accomplished at the anticipated amounts, Vantiv anticipates accretion of about $0.03 to $0.04 in pro forma adjusted net income per share in 2016, primarily due to the anticipated reduction in share count associated with the partial cancellation of the warrant. Due to the anticipated December closing date, Vantiv does not expect a noteworthy impact on pro forma adjusted net income per share in 2015.
Vantiv, Inc., through its partner, Vantiv Holding, LLC. provides payment processing services in the United States. It operates through two segments, Merchant Services and Financial Institution Services.