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Private equity groups hit this year $42 billion worth of transactions They sell their portfolio companies to their own funds, and in 2020, this type of niche transaction that once brought huge returns to executives has increased dramatically.

These transactions, known as “continuing fund” sales, involve an acquiring group selling a company it has owned for many years to a new fund recently raised. This allows it to return cash to early investors within an agreed time frame, while holding a company that has growth potential or is difficult to sell.

Many acquiring groups turned to such transactions for the first time in the early stages of the coronavirus pandemic, when trading and stock market freezes left them with little exit options.

Thank you for reading FirstFT Europe/Africa. We will have a short Christmas holiday and will return to your inbox on Tuesday, December 28. This is the rest of the news today — Jennifer

There are five more stories in the news

1. Putin: The United States and Russia will hold talks on Ukraine The Russian President stated that the two sides will Meet in january During the talks on Ukraine in Geneva, he said it was essential to protect Moscow from what he claimed was an existential threat from NATO.This crisis challenged U.S. President Joe Biden’s Vow to fight against the dictator Such as Putin.

• Related Reading: France, as well as 13 other European countries and Canada condemned “The deployment of mercenaries” It has something to do with Russia in Mali, a West African country, because the government there is fighting against Islamic radicals.

2. The former TSB chairman is responsible for overseeing the reorganization of NHS England Richard Meddings overhauled TSB’s IT system and improved its customer relationships. pick Oversee the reorganization of the NHS. A colleague of the British Minister of Health said: “We believe that bringing in this outsider’s vision will help achieve the accountability we need to promote reform.”

3. The third point is that the chairman of the fund resigns after “personal threats” Steve Bates, a former U.S. equity analyst and JPMorgan Chase executive who has been Chairman of Third Point since 2019, is gaining the “Personal threats” In the escalating struggle with rebel investors.

4. Europe’s largest energy user warns of soaring costs Alvans of Dunkirk is the largest aluminum producer on the African continent. Decrease in production Electricity prices in France have risen due to power outages at nuclear power plants, which have risen by nearly 4% since the beginning of December.

5. Low supply and high demand boost champagne prices Vintage champagne such as Dom Pérignon 2008 and Krug 2000 Price increase this year, Outperforms global stocks because wealthy investors look for returns in previously neglected asset classes.

Coronavirus Digest

• Infected person Omi Kron Coronavirus variants are Not too possible According to a study by the Public Health Agency of England, the admission rate is higher than that of Delta patients.

• Decline in restaurant reservations and coffee shop consumption UK Triggers expectations that reduced consumer spending will drive economic growth Economic contraction In December and January.

• Third dose Oxford/AstraZeneca The vaccine increases the level of antibodies against Omicron Far less than Than one BioNTech/Pfizer Booster, a study showed.

• Omicron brought a slow reopening Asia arrive Trembling stop As governments are eager to re-implement travel restrictions.

• America president Joe Biden Acknowledge that he should promote a larger national plan Distribute the free fast Covid-19 test as early as possible.

• U.S. stocks Set a record high closing price Yesterday, it rose for the third time in a row, as promising economic data helped offset concerns about Omicron.

• More than half of 31 shows Broadway have to Cancel show Due to the Coronavirus in December.

the day before

Libya election postponed The Libyans intended to vote, but after the National High Election Commission ordered the dissolution of the National Election Commission, the final list of candidates was not designated. The commission stated “Impossible” Persist vote. The Election Commission has proposed January 24 as the new date for voting. (Al Jazeera)

Christmas Eve Pope Francis will hold a midnight mass in St. Peter’s Basilica. Midnight Mass will also be held at the birthplace of Jesus, which is the Nativity Church in Manger Square in Bethlehem, West Bank.

What are we still reading

One year of Brexit: the impact on the British economy The overall impact of the decision to leave the EU on people’s living standards seems to be Negative but uncertain, According to economists. The focus of contention is rarely whether growth and living standards will be hit, but how much it will be hit.

Where was the weather record this year broken? The temperature this year is gradually higher than in previous years, and the global temperature is slightly higher than average month by month. The British “Financial Times” is tracking extreme weather events around the world. Explore our interactive tracker.

How bad is 2021? Chief Diplomacy Columnist Gideon Rahman joins with colleagues Martin Wolf and Gillian Tate Looking back on the year As Donald Trump’s chaotic withdrawal from the White House and Vladimir Putin’s threat to Ukraine ended, the ever-present inflation raged throughout the process.

Afghan female football player gets a new lease of life in England After encountering rocket explosions and exchanges of fire, some of the most talented female players fled the Taliban, and Looking for a new beginning In the north of England, thanks to supporters including Leeds United Football Club.

What happened to holiday TV? The hard work of Christmas lunch usually gives way to the quiet hustle and bustle of prime-time comedy. But since the 1970s, things have changed.Henry Mans Review The golden age of Christmas TV And consider what might replace it.

diet

“We always drink good wine on Christmas, but the only time we have opened a very, very good wine [read: seriously expensive] The bottle was from last year, when the social gathering was limited to one family, and for the first time in history there were only two of us,” Jancis Robinson wrote The best time to drink expensive wine.