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Bankers on Sanofi deal bag $125m

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first_img Bankers on Sanofi deal bag $125m KCS-content Share Show Comments ▼ whatsapp whatsapp Tags: NULL Advisers to the $20.5bn-plus (£12.75bn) Sanofi-Aventis takeover of US biotech firm Genzyme will walk away with an estimated $125m in fees, corporate finance house Freeman & Co said yesterday.Banking teams for both sides, which include JPMorgan and Goldman Sachs, will earn around $60m each for the nine months of work it took to close the deal.Sanofi’s lead financial advisers – New York-based Evercore Partners and JPMorgan Chase – will earn $50m-60m, while Genzyme’s bankers, Credit Suisse and Goldman Sachs, should take home $53m-65m. A further $120m of lending and M&A fees will be paid to JP Morgan and French banks BNP Paribas and Societe Generale, which arranged an estimated $15bn in loans for Sanofi, Freeman said.Paris-based Sanofi will pay $74 in cash per share plus a contingent sum dependent on Genzyme’s experimental drug Lemtrada.Evercore’s team included founder Roger Altman and senior managing director Francois Maisonrouge, who advised on Pfizer’s $68bn takeover of Wyeth in 2009. JPMorgan’s work was led by its vice chairman of investment banking, Robbie Huffines. The Credit Suisse team included vice chairman Scott Lindsay while Goldman’s side included managing director Marshall Smith. Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Wednesday 16 February 2011 9:17 pmlast_img read more

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Raketech appoints Mühlbach as new chief executive

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first_imgMarketing & affiliates Online affiliate and content marketing provider Raketech has appointed Oskar Mühlbach, its former chief operating officer, as its new chief executive and president. Tags: Online Gambling Topics: Marketing & affiliates People Strategy Online affiliate and content marketing provider Raketech has appointed Oskar Mühlbach, its former chief operating officer, as its new chief executive and president.Mühlbach, who held the role of COO since April this year, will replace Michael Holmberg as CEO with immediate effect.Prior to his time with Raketech, Mühlbach spent just under three years with Mr Green, first serving as COO before going on to become chief ventures officer.Earlier in his career, Mühlbach also had spells with Swedish shoe store chain Footway AB and Nordic online beauty store eleven AB.“Oskar has a clear vision of how Raketech will develop towards becoming a global partner to players in the igaming industry,” Raketech chairman Christian Lundberg said. “With his excellent skills in the company’s core business, I am confident that we will ensure the right balance between organic development and expansion.“As we now enter a new phase in the company’s development, I am convinced that he is the right person to execute on our strategy and to lead the company through the challenges that we and the entire industry experienced in 2019.”Lundberg also paid tribute to the outgoing Holmberg, praising the impact he had on the business during his time as CEO.“Michael Holmberg has been a driving force in the transformation of a young and fast-growing company into one of the market’s leading players in affiliate marketing,” Lundberg said. “He has also been a leader in the process of preparing and taking the company public on Nasdaq First North Premier Growth Market.“I am very grateful for his efforts and wish Michael the best of luck in his future career.”Confirmation of Mühlbach as CEO comes after Raketech in October announced the appointment of Måns Svalborn as its new chief financial officer, replacing Andreas Kovacs.Svalborn joined the business in November, with Kovacs stepping aside from the role in order to take up the position as director of business development at the performance marketing specialist. 12th December 2019 | By contenteditorcenter_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Raketech appoints Mühlbach as new chief executive Email Addresslast_img read more

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