Brookfield Property Partners L.P. (NYSE: BPY) (TSX: BPY.UN) announced today that one of its subsidiaries has entered into a joint venture with Qatar Investment Authority (QIA) on the mixed-use Manhattan West development project in New York City. In the transaction, Brookfield sold a 44% interest in the development to QIA. The total value of the development upon completion and stabilization is estimated to be $8.6 billion.
American Express Company (NYSE:AXP) today announced that it has signed an agreement to create a joint venture for its Global Business Travel division (“GBT”). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing. In exchange for an investment of $900 million in the joint venture, the investor group will hold the remaining 50%. American Express initially announced its intention to pursue this joint venture transaction in September 2013.
Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including SAP AG (NYSE:SAP) software and Oracle Corporation’s (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database and Hyperion software, today announced that in fiscal year 2012 it more than doubled new sales in EMEA, with 117 percent year-over-year growth in new client invoicing; achieved more than $42 million in new EMEA sales bookings, a 175-percent year-over-year increase; and nearly doubled the total number of clients in EMEA. The Company also announced its expansion and additional investment in EMEA to meet continued growing demand for its SAP and Oracle support services.
The World Energy Council’s (WEC) annual Energy Sustainability Index reveals that most of the over 90 countries assessed are still far from achieving fully sustainable energy systems…