$64.130
-0.661 (-1.03%)收盤時
HHH 資訊
HHH 事件
Vantage Group Appoints Tim Nunziata as Head of Cyber Insurance
Vantage Group Holdings announced that Tim Nunziata has joined the company as Head of Cyber Insurance and Global Product Leader. He reports to Alex Blanco, Chief Executive, Insurance, and has joined Vantage's Insurance Leadership team. Vantage is backed by the permanent capital of Howard Hughes Holdings.
Howard Hughes Reports Q1 Revenue of $235.92M
Reports Q1 revenue $235.92M, consensus $196M. "Howard Hughes is building on the strength of its cash-generative real estate platform as we transform the Company into a diversified holding company focused on compounding intrinsic value per share," said Bill Ackman, Executive Chairman of Howard Hughes. "Our pending acquisition of Vantage is a key step in that evolution, adding a second engine of long-duration earnings alongside our communities. Vantage is a specialty insurance and reinsurance business that we believe will broaden our earnings base, add a complementary source of long-duration capital, and expand our opportunity set as we allocate capital across multiple platforms while preserving the value creation embedded in our real estate business. Everything is still on track to close this transaction during the second quarter and commence this new growth phase for the company."
Howard Hughes Corporation Launches $1B Senior Notes Private Placement
The Howard Hughes Corporation has commenced an offering through a private placement, subject to market and other conditions, to offer $1B in aggregate principal amount of HHC senior notes consisting of senior notes due 2032 and senior notes due 2034. HHC intends to use the net proceeds of the offering to redeem all of its outstanding 5.375% Senior Notes due 2028, including the payment of premiums, accrued and unpaid interest and expenses related to such redemption and for general corporate purposes. This press release shall not constitute a notice of redemption of the 2028 Notes.
Howard Hughes Acquires 100% of Vantage Group for Approximately $2.1B
Howard Hughes (HHH) announced that it has entered into a definitive agreement to acquire 100% of Vantage Group Holdings, a privately held leading specialty insurance and reinsurance company backed by Carlyle (CG) and Hellman & Friedman, for approximately $2.1B. The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals. Upon closing, Vantage will anchor Howard Hughes' transformation into a diversified holding company. The $2.1B acquisition will be financed through Howard Hughes Holdings' cash on hand, and up to $1B of non-interest-bearing, non-voting preferred stock issued by HHH to Pershing Square Holdings. The PSH Preferred will be split into 14 equally sized tranches that HHH will have the right to repurchase at the end of each fiscal year for the first seven years post-closing of the transaction. The repurchase price for each share of the PSH Preferred will be cash consideration equal to the greater of two values: the original issue price of the PSH Preferred plus 4% per annum through the repurchase date, or 1.5 times Vantage's book value, multiplied by the ownership percentage of Vantage represented by the PSH Preferred shares. The book value will be determined in accordance with GAAP as of the end of the fiscal year or quarter, as applicable, immediately preceding the exercise of the Call Option.
Pershing Square Commits to $1B Equity in Howard Hughes Holdings
Pershing Square Holdings announces that it has entered into an equity commitment letter to subscribe for up to $1B of non-voting exchangeable perpetual preferred stock to be issued by Howard Hughes Holdings in connection with HHH's agreement to indirectly acquire Vantage Group Holdings, a privately held specialty insurance and reinsurance company being sold by, among others, Carlyle and Hellman & Friedman, for approximately $2.1B in cash.
本頁僅供研究參考，不構成投資建議。模型可能出錯。過往表現不代表未來結果。