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Dechert Advises Yodel on the Sale of its Business

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LONDON, Feb. 14, 2024 /PRNewswire/ — Dechert advised the Board of Yodel Delivery Network Limited and its various group companies on the sale of Yodel, a parcel delivery business, with Weil acting as transaction counsel on the sale. The sale allowed the business to be sold on a solvent basis and save 10,000 jobs.

The transaction involved the Yodel business being acquired by YDLGP, a newly formed company. YDLGP was backed by Shift, a rapidly growing logistics platform and a consortium of investors. The new business will form a ‘super scale’ logistics platform and use Shift’s AI driven technology.

The Dechert team advising Yodel was led by Restructuring partners Adam Plainer and Kay Morley with counsel Tayyibah Arif, associate Ola Majiyagbe and trainee Amandeep Mann. Specialist advice was provided by Corporate partner Chris Field, Employment partner Jason Butwick and associate Alexis Westwood, and Tax associate Nicolas Kokkinos.

Dechert has a market-leading financial restructuring team across the United States, Europe and Asia with experience representing clients across the globe. Our lawyers are known for representation on ground-breaking matters, innovative deal structuring, creative solutions, seamless cross-border advice and national and international court victories. We represent a wide range of creditor and debtor clients on the full spectrum of complex cross-border restructuring, bankruptcy and insolvency matters. To read more about Dechert’s financial restructuring practice, click here.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our 1,000+ lawyers across 21 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.

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TCI Network: Cluster development policies in Latin America need continuity

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MEXICO CITY, Sept. 20, 2024 /PRNewswire/ — Latin America is a region in the world where “cluster policies have been developed more,” mainly in Mexico and Colombia. However, these initiatives have had “boom periods that later have not had continuity,” says Alberto Pezzi, founder of TCI Network, a global network dedicated to exchanging and improving practices in this sector.
“The main problem in several Latin American countries has been the initial implementation of certain norms and institutions to support the cluster policy that later, with a change of government (…) or due to a lack of trained personnel, are abandoned,” he said. 
For Pezzi, who has been working in this field for 25 years, clusters have helped to strengthen dialogue between the public and private sectors, to understand the problems companies have, and for small and medium-sized businesses to implement “strategic changes” to increase their competitiveness.
The also former CEO of TCI was optimistic about the promotion of cluster policies. He also recognized the work members of the Economic Commission for Latin America and the Caribbean (ECLAC) have done in Colombia in creating the Cluster Initiatives Platform.
To continue to strengthen these ecosystems in the region, Pezzi highlighted that this year the city of Chihuahua, in northern Mexico, will host the 27th TCI Global World Conference from October 8 to 10. There attendants will talk about the application models of artificial intelligence in clusters and the construction of a more collaborative future, considering the emergence of disruptive technologies.
“TCI’s annual event is the point of reference for professionals who are dedicated to the development of clusters around the world and the expectation is, on the one hand, to learn about methodologies, projects, good cluster practices and, at the same time, innovation ecosystems,” he said.
Also, the organizers said that the intention is to publish a white book for all the conclusions of the meeting. These would contain lessons learned from local networks and internationally recognized panelists, such as the expert in artificial intelligence, Rebeca Hwang, and Mariana Mazzucato, an economist specializing in development issues.
Regarding this year’s event, Pezzi said that Chihuahua is a special place for TCI. The state was where the American economist Michael Porter and other “cluster methodology pioneers” met in 1997 to celebrate the first International Cluster Workshop.

https://tciglobalconference.com/2024/
https://desec.mx/

View original content:https://www.prnewswire.co.uk/news-releases/tci-network-cluster-development-policies-in-latin-america-need-continuity-302254087.html

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This Week in Finance News: 10 Stories You Need to See

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A roundup of the most newsworthy financial press releases from PR Newswire this week, including a new Volkswagen/Wells Fargo agreement and Americans’ worries about the election’s impact on their finances.

NEW YORK, Sept. 20, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

Volkswagen Financial Services U.S. and Wells Fargo announce cooperation agreement for vehicle purchase financing of Volkswagen, Audi, and Ducati brands in the United States
Wells Fargo will provide new U.S. consumer retail financing for vehicle purchase as a co-branded offering, with an estimated transition beginning in April 2025.Credit Builders Alliance Launches New Financial Inclusion Pilot Program Using VantageScore 4plus™ Open Banking Credit Score
The program, with support for technical assistance from JPMorganChase, will select and lead a cohort of ten CBA nonprofit members to test the VantageScore 4plus credit score that uses both credit report data and alternative open banking data to generate a more predictive credit score, especially for underserved or “thin” credit file consumers. Eight in 10 Americans worry about the impact of the election on their retirement plan Two in 10 (19%) Americans believe the election will affect when they retire—a concern most prevalent among Gen Z (29%), according to the study of 1,000 U.S. adults. Americans who have not retired yet also fear inflation has set back their retirement goals, delaying them by nearly 8.5 years on average (55%).Carver Bancorp, Inc. Names Donald Felix President and CEO, Effective November 01, 2024
Donald Felix is only the sixth CEO in Carver’s 76-year history and will also serve as a member of the Carver Board. Carver continues to pay its mission forward, focusing on Minority and Women Business Enterprises and the growing middle-income neighborhoods it serves.National Real Estate Brokerage REALTY OF AMERICA Announces Launch
Four industry titans come together to launch Realty of America. The virtual brokerage invests in agents through technology, training, culture, and an innovative compensation structure.Two Boxes Secures $5.3M in Oversubscribed Funding Round
The oversubscribed funding round led by Peterson Ventures more than doubled the company’s valuation and saw participation from new investor Assembly Ventures, alongside renewed support from existing backers Vinyl, Range Ventures, and Matchstick Ventures. With Two Boxes, brands and 3PLs optimize returns inspection, prioritization, processing, tracking, and a growing list of obstacles.Stratix and Samsung Drive Financial Services Innovation with Mobile-First Solutions
Stratix services and Samsung’s state-of-the-art devices powered by Android empower financial service organizations to improve workflows, increase automation, and create better experiences for users and customers. AES Announces Strategic Partnership with CDPQ to Support AES Ohio’s Robust Growth Plans
The AES Corporation announced that it reached an agreement to sell a 30% indirect equity interest in AES Ohio to CDPQ, a global investment group, for approximately US$546 million, with closing expected in the first half of 2025.Announcing the 2024 Most Powerful Latina Summit at L’ATTITUDE: Celebrating the Trailblazers Powering the $3 Trillion U.S. Latino Economy
Now in its 8th year, the Most Powerful Latinas list continues to highlight the critical contributions of Latina leaders across multiple industries. Released at the Most Powerful Latina Summit during L’ATTITUDE, this year’s list reflects the growing influence of Latinas in shaping the New Mainstream Economy.IEX Enters Options Market with Top Talent and Innovative Solutions
IEX Group, Inc. announced that it will launch a U.S. options exchange to partner with liquidity providers to uniquely tackle risk management challenges experienced in the options markets, pending regulatory approvals.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

About PR Newswire

PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.

For questions, contact the team at media.relations@cision.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/this-week-in-finance-news-10-stories-you-need-to-see-302253705.html

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ATFX Connect Wins “Institutional Forex Broker of the Year 2024” Award

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HONG KONG, Sept. 20, 2024 /PRNewswire/ —  ATFX Connect, the institutional division of ATFX Group, has been recognised for its exceptional service and innovative technology platform, earning the prestigious “Institutional Forex Broker of the Year 2024” award from Corporate Vision. This accolade reflects ATFX Connect’s client-first approach, advanced liquidity solutions, and leadership in the institutional brokerage industry.

This accolade acknowledges ATFX Connect’s contributions in the field of institutional brokerage services and affirms its continuous efforts in driving industry progress and innovation.

Corporate Vision magazine, an internationally renowned business and financial information platform, presents its annual Corporate Excellence Awards to honor companies and individuals who demonstrate excellent leadership, innovation, and performance in their respective fields. This year, ATFX Connect, earned unanimous praise from the judging panel for its professional service team, efficient trade execution system, and comprehensive solutions tailored for institutional clients.

The magazine also featured an extensive report on ATFX Connect, highlighting its customer-centric approach. The core focus is providing clients with fast and straightforward access to financial markets, along with all the necessary tools, which has always been a hallmark of the brand.

ATFX Connect continues to customise liquidity solutions based on client needs while maintaining competitive pricing. Clients benefit from competitive spreads across 65 different currency pairs and access to over 20 liquidity providers, including Tier 1 banks and non-bank liquidity. Looking ahead, ATFX Connect plans to offer services specifically tailored for professional traders.

With the establishment of its Australian office, the brand’s influence continues to grow. ATFX has laid out an ambitious development blueprint, to enhance its brand influence and leverage its unique advantages to expand into broader international markets.

About ATFX
ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.

For further information on ATFX, please visit the ATFX website: https://www.atfx.com.

About ATFX Connect
ATFX Connect is a trading name of AT Global Markets (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. ATFX Connect’s bespoke liquidity offerings are available to institutions, hedge funds, broker-to-broker, family offices, asset managers, and High-Net-Worth Individuals.

ATFX Connect supports institutional clients by providing them with direct market access to liquidity from T1 banks and non-bank providers in Spot FX, Precious Metals, and CFDs. In addition, the flexible infrastructure enables ATFX to manage aggregation and pricing and allows integration with any third-party platform.

AT Global Markets (UK) Limited is part of the ATFX Group. For further information on ATFX Connect, please visit the ATFX Connect Website: https://www.atfxconnect.com

View original content:https://www.prnewswire.com/apac/news-releases/atfx-connect-wins-institutional-forex-broker-of-the-year-2024-award-302254088.html

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