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Brunswick Group is handling TheStreet’s deal to sell its B2B business (The Deal and BoardEx) to Euromoney Institutional Investor PLC for $87.3M.
The divestiture of the units, which combined for $23.8M revenues in 2017, is part of TheStreet's strategic review to bolster shareholder value. It follows the sale of The Rate.
TheStreet CEO Dave Callaway plans to resign, once the divestiture of The Deal and BoardEx is approved early next year.
With Callaway’s departure, CFO Eric Lundberg will add the CEO title and Margaret de Luna, consumer president chief, will become COO.
Jim Cramer, host of CNBC’s “Mad Money,” founded TheStreet.
Brunswick Americas CEO Nik Deogun, partner Darren McDermott and director Kate Beers handle TheStreet deal.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
