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KKR's Strategic Private Equity Deal with Eni in Biorefining ♻ This is a great example of private equity, strategic business planning, and the ongoing energy transition in action.  Let's dive in! 👉 Purpose of the Deal Eni aims to sell a 20% to 25% stake in its Enilive unit, potentially valued at over €3bn. This move aligns with Eni’s reorganisation strategy to fund its transition to gas and renewable energy. The sale is part of Eni CEO Claudio Descalzi’s satellite model, which involves listing divisions or partnering with external investors to develop them. 🎯 What's the goal of the transaction? The deal values Enilive at €11.5bn to €12.5bn, which exceeds market expectations. This positive valuation could improve investor sentiment, particularly as the public market view towards biofuels has been negative recently. The strong interest might even lead Eni to consider selling an additional 10% stake in Enilive. 🧠 Strategic Impact This potential sale is part of a broader strategy initiated by Eni in 2023, which included selling a minority stake in its green unit Plenitude. Future plans include spinning off the carbon-capture division and the biochemical subsidiary Novamont by 2027. These moves are designed to help Eni invest in sustainable energy and potentially return more cash to shareholders, similar to other major oil companies aiming to boost their stock valuations. 💰 What's in it for KKR? KKR gains a significant stake in a high-value, growth-oriented biorefining unit. This investment aligns with KKR’s focus on sustainable and renewable energy sectors, offering strong potential returns as Enilive develops further. 📊 Investor Sentiment Analysts at RBC Capital Markets have noted the positive surprise in Enilive’s valuation, indicating strong potential for investor interest. Eni shares rose as much as 1.4% in Milan trading following the announcement, reflecting market approval of the strategy. 📝 Conclusion By leveraging strategic partnerships and asset sales, Eni aims to fund its transition to sustainable energy while enhancing shareholder value. Source: Bloomberg #KKR #PrivateEquity #Deals #CorporateFinance

Payments group Ebury has appointed Goldman Sachs to lead work on its planned £2bn IPO in London ❔ Who are Ebury? Founded in 2009, Ebury specialises in managing international payments and collections for businesses and offers foreign exchange, trade finance, and cash management services. It operates in over 20 countries, serving over 49,000 clients worldwide, and has been recognised for its innovative solutions in the fintech industry. ⌚ Timing? According to the FT, the IPO could take place as soon as the first quarter of 2025. This timing is critical as it aligns with market expectations of improved economic conditions and possibly lower interest rates. 👉 Why is this important? A listing by Ebury would be closely watched by the rest of the fintech sector. Many companies have signalled their ambition to float, but choppy market conditions amid high interest rates have put off investors. Ebury’s successful IPO could pave the way for other fintechs, boosting investor confidence in the sector. Other London-based fintechs that have indicated an intention to float in coming years include Zopa Bank, Revolut, Starling Bank, and Zilch. Ebury’s IPO could set a benchmark for these companies and potentially revitalize the London IPO market, which has seen reduced activity in recent times. 📊 Market Context The fintech sector has been under pressure due to increased regulatory scrutiny and the broader macroeconomic environment. However, Ebury’s strong business model and growth trajectory might attract significant investor interest. Their IPO could be a bellwether for the sector’s resilience and future growth potential. 🧐 Strategic Implications Goldman Sachs’ involvement as the lead underwriter underscores the significance of this IPO. Their expertise and reputation could ensure a smooth process and successful listing, potentially setting a precedent for future fintech IPOs. #Ebury #IPO #GoldmanSachs #InvestmentBanking #Deals

🎙 The Deal Room: "Ask Me Anything" Q&A with our Student Community (Part 1) In this special 2-part series of The Deal Room, we dive into an "Ask Me Anything" session with the curious minds of the students on our Summer Analyst Training Programme. In part 1, the team responded to: - I missed out on Spring week, am I doomed? (2:01) - What is the timeline of career progression in IBD? (5:50) - What steps can I take as a fresh grad to stand out? (10:10) - How much programming experience do I need to be a quant? (14:01) - With the rise of algorithmic trading is there a threat to traditional roles? (17:18) Join Stephen Barnett, our Director of Corporate Finance, and Anthony Cheung, Chief Content & Culture Officer at AmplifyME, for an engaging discussion that covers everything from career advice to industry insights. 👉 Spotify https://lnkd.in/eRzskHYK 👉 Apple https://lnkd.in/e2AwW2cf #Finance #Careers #Students #Applications #Internships

Get prepared for the week ahead in Global Markets in only 2 minutes 🌎 📅 MONDAY Joe Biden has withdrawn from the US presidential election race. Following the announcement on Sunday evening, President Biden gave his endorsement in the presidential race to Vice President Kamala Harris. The People’s Bank of China is expected to maintain its one and five-year loan prime rates unchanged, consistent with the hold on the medium-term lending facility and recent pressure on the yuan after the CCP’s Third Plenum refrained from signaling immediate stimulus measures. 📅 TUESDAY In Germany, the GfK Consumer Climate Indicator is expected to improve, and the Ifo Business Climate Indicator (Weds) is predicted to rise after three consecutive months of decline. Big tech names Tesla and Alphabet Inc. (Google) report after the close. 📅 WEDNESDAY Expectations are for Eurozone Flash Manufacturing PMI to tick higher to 46.0 from 45.8, and Services to rise to 53.0 from 52.8. Attention will in part on whether any of the political uncertainty has filtered its way into the data and to what extent. Meanwhile in the UK, analysts at Investec note that the certainty provided by the outcome of the General Election and the “new government’s key focus on strengthening growth, should help companies to firm up their own plans for the future.” Money markets currently assign an 80% probability of a rate cut in July by the Bank of Canada after soft data while ING, RBC, and Scotia all look for the BoC to follow up with another 25bp rate cut after cutting by 25bp in June. 📅 THURSDAY In the US, the Q2 advance estimate for GDP growth is expected to show the economy expanded 2%, faster than 1.4% in Q1, driven by a rise in consumer spending. 📅 FRIDAY US Core PCE for June, the Fed's preferred gauge of inflation, is expected to have risen 0.1% in June for a second straight month. That would bring three-month annualized core inflation down to the slowest pace this year, and below the Fed’s 2% target. Sources: Bloomberg, Newsquawk, TradingEconomics #Markets #Trading #Investing #Applications #Internships

🌠 Marco Tempestini: A Rising Star in Investment Banking within the AmplifyME Community! Marco just smashed AmplifyME's flagship 24-hour M&A challenge, a key part of our Summer Analyst Training Programme. This challenge has interns step into the shoes of M&A analysts for a major investment bank, tasked with creating a full financial model and a compelling pitch deck for Microsoft's proposed acquisition of Activision Blizzard. Marco's financial model, which included a thorough valuation of Activision and detailed merger analysis, ranked in the top five out of over 100 interns. His pitch deck? Number one! 👏 Showcasing exceptional professionalism, clarity, and top-notch recommendations. Think you've got what it takes? Or just curious to learn more? Join our next M&A Finance Accelerator in partnership with UBS and see where it takes you! 👉 www.amplifyme.com/mafa #MergersandAcquisitions #InvestmentBanking #CorporateFinance #Finance #Simulation

Klarna is said to lining up the likes of J.P. Morgan, Morgan Stanley and Goldman Sachs for a long-awaited IPO, according to the FT The report suggests that the process could happen as soon as the first half of next year but that no final decisions have been made as yet. As a reminder, Klarna was last valued at $6.7bn in 2022 in a fundraising round that was deeply discounted amid rising interest rates and falling tech stock prices. It had previously been priced at $46bn in a 2021 deal that made it Europe’s most valuable start-up group. Klarna’s backers include its largest investor Sequoia Capital, alongside others such as Japan’s SoftBank, Bestseller Group and Abu Dhabi’s sovereign wealth fund Mubadala. The three US banks listed are dominating the Equity Capital Market (ECM) Bookrunner Ranking YTD 2024: 🥇 J.P. Morgan: $33.98bn on 185 deals 🥈 Morgan Stanley: $31.12bn on 164 deals 🥉 Goldman Sachs: $30.42 on 184 deals Source: FT, WSJ #ECM #InvestmentBanking #Klarna #Payments

🎙 The Trading Floor: Nasdaq Drops As Trump Rattles Markets Midweek turmoil hit global chip stocks following reports of tighter US export restrictions and rising geopolitical tensions, spurred by remarks from former President Donald Trump. In this podcast episode, we also unpack comments from the former US President on his thoughts on Federal Reserve Chair Jerome Powell, his view on interest rates, and why he may draft in help from J.P. Morgan CEO Jamie Dimon. Meanwhile, UK inflation held steady in June, aligning with the Bank of England's 2% target. However, traders were more focused on the unexpected surge in inflation within the UK services sector. A must-listen for anyone looking to understand the interplay between current events and market dynamics! 👉 Spotify https://lnkd.in/eTp5cPJM 👉 Apple https://lnkd.in/e8yRqjCb 👉 YouTube https://lnkd.in/e6xNK3XG #Nasdaq #Stocks #WallStreet #Trading #Investing #Finance

📈 The Pound Strengthens on Sticky UK Services Inflation as Traders Push Back Rate Cut Timing UK inflation held steady in June, remaining at the Bank of England's target rate of 2%. However, what caught traders' attention was the stronger-than-expected inflation in the UK services sector for June. This development has led traders to reconsider their expectations for an interest-rate cut by the Bank of England on August 1st. The rise in service sector inflation was primarily driven by higher prices in hotels and restaurants, influenced by a nearly 10% increase in the minimum wage and the economic boost from Taylor Swift’s The Eras Tour. As a result, traders have adjusted their bets on a rate cut next month, now pricing in a roughly 30% chance of an August move, down from almost 50% earlier in the week. These inflation figures come just days after the economy recorded a 0.4% growth in May, double the anticipated pace. #UK #Inflation #BankofEngland #InterestRates

Halfway through your internship? Here are FIVE tips to increase the likelihood of converting it to a full-time offer 👇 ▶ **Ask for a Midpoint Evaluation** Request a formal or informal midpoint evaluation from your supervisor to gain insight into your performance and areas for improvement. ▶ **Highlight Accomplishments** Prepare a summary of your achievements so far and share it with your supervisor to demonstrate your progress and value. ▶ **Intensify Networking Efforts** Now that you’ve established some connections, deepen your relationships with colleagues and mentors, and seek advice on navigating the remainder of your internship. ▶ **Increase Visibility** Attend more meetings and actively participate to raise your profile within the organisation and demonstrate your engagement. ▶ **Plan for Post-Internship** Start discussing potential return offers with your supervisor or HR, expressing your interest in a permanent position and seeking feedback on what you need to achieve to secure an offer. Good luck! #Internship #Student #Careers #InvestmentBanking #Trading #AssetManagement

Bank of America Tops Estimates on Better-Than-Expected Investment Banking - Q2 Earnings Per Share (EPS) $0.83 vs Exp. $0.80 - Q2 Revenue $25.54bn vs Exp. $25.22bn ▶ 29% increase in investment banking fees to $1.56bn vs Exp. $1.51bn. No. 3 in investment banking fees according to Dealogic as of June 20, 2024. ▶ Fixed Income, Currencies and Commodities (FICC) revenue up 3% to $2.7bn, and Equities revenue up 20% to $1.9bn. Highest 2Q sales and trading revenue in over a decade with 9 consecutive quarters of YoY sales and trading revenue growth. ▶ Asset management fees rose 14% to $3.37bn, buoyed by higher stock market values, helping the firm’s wealth management division post a 6.3% increase in revenue to $5.57bn, essentially matching the estimate. ▶ Expects Net Interest Income (NII) on a fully taxable-equivalent basis to increase to about $14.5bn in the fourth quarter vs Exp. $14.3bn. #BankofAmerica #InvestmentBanking #Trading #AssetManagement