Latest news with #DavidTrujillo
South China Morning Post
a day ago
- Business
- South China Morning Post
Chinese investors likely to keep USMCA benefits despite China-US rivalry: Mexican envoy
Chinese-funded factories in Mexico are 'very unlikely' to be excluded from preferential treatment under the United States-Mexico-Canada Agreement (USMCA) despite the free trade deal being up for review next year, a Mexican envoy said on Thursday. 'There is no indication that there are going to be restrictions targeting Chinese companies,' David Trujillo, deputy commercial counsellor at the Mexican Embassy in China, told the Post on the sidelines of the China International Supply Chain Expo. Tariffs imposed during US President Donald Trump's first term prompted many Chinese companies to relocate, with Mexico becoming a popular destination for overseas investment. The USMCA allows imports from the country to enter the US market tax-free as long as a certain share of the goods is produced in North America. But with US-China trade tensions escalating since Trump's return to office, questions have arisen over whether Chinese firms in Mexico will retain these benefits – especially as Washington's recent tariffs on steel and aluminium imports have already been seen as undermining the free trade agreement. Beijing has also warned other countries against reaching trade deals with the US that come at China's expense. However, Trujillo said revisions to the USMCA would likely focus on tightening rules-of-origin requirements – meaning companies would need to make more of their product locally to qualify – rather than introducing restrictions on specific countries. 'For key industries like the automotive industry, the requirement is now 75 per cent,' he added. 'It might be higher.'
Business Wire
02-07-2025
- Business
- Business Wire
TPG Completes Acquisition of AT&T's 70% Stake in DIRECTV
SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--TPG (NASDAQ: TPG), a leading global alternative asset management firm, today announced the completion of its acquisition from AT&T of the remaining 70% stake in DIRECTV it did not already own. With the completion of this transaction, DIRECTV is now a wholly owned portfolio company of TPG Capital, the firm's U.S. and European private equity platform. This transaction strengthens TPG's existing partnership with DIRECTV and extends TPG's successful track record partnering with internet, digital media and communications companies. DIRECTV expects to accelerate investments in its innovative video offerings that bring value and choice to consumers. Since TPG's initial investment, DIRECTV has grown its next generation streaming service to millions of subscribers, delivering consistently high ratings for customer satisfaction and support, and significantly reducing churn. 'DIRECTV is a proven pay TV innovator, and we are excited to deepen our highly successful partnership at a pivotal time for the industry,' said David Trujillo, Partner at TPG. 'This transaction reflects our confidence in DIRECTV's management team and their ability to continue delivering exceptional value and a truly innovative streaming service to customers.' 'DIRECTV has the broadest diversity of programming available today, a portfolio of innovative video products and a legacy of providing better value than incumbent providers,' said John Flynn, Partner at TPG. 'The company is well-positioned to compete and thrive in a rapidly evolving content and technology landscape.' 'We are thrilled to build on our terrific partnership with TPG for DIRECTV's next chapter,' said Bill Morrow, CEO of DIRECTV. 'We have big plans to increase investments in innovative video services to deliver the best entertainment experience at the right value for our customers nationwide.' With the completion of the transaction, Thaddeus Arroyo, Lori Lee and Jamie Barton, all AT&T appointees to DIRECTV's Board of Directors, and Steve McGaw, independent board member, have stepped down from DIRECTV's Board. Tony Vinciquerra, former CEO of Sony Pictures Entertainment, has joined the DIRECTV Board. In that role, Mr. Vinciquerra oversaw content production and distribution, operations of global media networks and new product development. Mr. Vinciquerra currently serves on the Board of Madison Square Garden Sports, and has previously served as an advisor or Board member for numerous media, entertainment and technology businesses, including Qualcomm, Pandora Media, Univision Communications, Motorola and Fox Networks Group. About TPG TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $258 billion 1 of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
Yahoo
07-05-2025
- Business
- Yahoo
TPG Boosts Digital Infrastructure Portfolio With $660 Million Peppertree Acquisition
TPG Inc. (NASDAQ:TPG) shares are trading lower on Wednesday. On Tuesday, the company disclosed a deal to acquire Peppertree Capital Management, Inc. in a cash and equity deal worth up to $660 million. The transaction involves a combination of cash and equity, estimated at up to $242 million in cash and up to $418 million in equity payable upon closing, with both amounts subject to certain adjustments. The agreement also includes potential earnout payments of up to $300 million based on Peppertree's future performance. Also Read: Sabre Divests Hospitality Arm To TPG For $1.1B, Plans Debt Reduction The transaction has been approved by TPG's Board of Directors and is anticipated to close in the third quarter of 2025, subject to standard closing conditions. Upon completion, Peppertree is poised to significantly enhance TPG's capabilities in developing wireless communication towers and network infrastructure. This increased scale is anticipated to complement TPG's existing leading position across its Internet, Digital Media & Communications (IDMC) platform. The combined assets under management (AUM) of TPG and Peppertree is projected to be $253.6 billion on a pro forma basis, and the transaction is expected to immediately increase TPG's fee-related earnings and after-tax distributable earnings per share upon closing. David Trujillo and John Flynn, Partners at TPG, added, 'Peppertree's track record of investing in high-quality wireless communications towers and critical digital infrastructure assets, combined with TPG's thematic investing approach and legacy of scaling innovative internet and communications companies, positions us to leverage our collective insights and expertise to build high-quality, growing digital infrastructure-related businesses.' In a separate release, TPG, in partnership with Corpay, agreed to acquire AvidXchange Holdings, Inc. for $10 per share in a cash transaction valued at $2.2 billion. As of December 31, TPG's cash and cash equivalents stood at around $147 million. TPG plans to release first-quarter earnings before the market opens on May 7, 2025. Investors can gain exposure to the stock via Invesco Global Listed Private Equity ETF (NYSE:PSP) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO). Price Action: TPG shares are down 1.28% to $45.60 at the last check on Wednesday. Read Next: Photo by PreciousJ via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
