In 1995, First Data merged with First Financial Management Corp., whose holdings included Western Union. In February, the company said it was closing a check and money order division for financial institutions to focus on its other operations. With more people shifting from cash and checks to credit and debit cards, First Data has potential to grow. The deal is not contingent on financing by the investor group, and First Data expects the deal to be completed by the end of the third quarter.Ĭitigroup, Credit Suisse, Deutsche Bank, HSBC, Lehman Brothers, Goldman Sachs and Merrill Lynch have committed to provide debt financing for the transaction subject to customary terms and conditions, and are acting as financial advisers to KKR.įirst Data has become one of the leading electronic payment processers since it was spun off by American Express and went public in 1992. In a written statement, KKR member Scott Nuttall praised First Data’s management team and said KKR looked forward to working with them.įirst Data’s board has approved the transaction, but it requires shareholder and regulatory approval as well as other customary closing conditions. Other amenities include a 53-foot brass and glass waterfall made from materials culled from a Los Angeles bank and a six-car garage boasting a hydraulic lift.Digital Replica Edition Home Page Close Menu The meticulously landscaped grounds are dotted with rose gardens, 100-year-old olive trees and fountains imported from Europe, and host an oceanfront pool and spa with a cabana and an adjacent event lawn. Previous listings for the house show a commercial-grade kitchen equipped with Carrara marble countertops and a Bonnet Maestro range, while the sumptuous master retreat has dual baths and closets nearly all of the living spaces open via galleries and loggias to picturesque ocean views. Glitzy amenities range from a screening room with bar and 10,000-bottle wine cellar to a gym sporting a massage room. Perched atop a one-acre bluff overlooking the Pacific, with direct access to an essentially private beach, the resort-like property includes a Tuscan-style main house with four bedrooms and six baths spread across nearly 10,000 square feet, plus a two-story guest house patterned after Philip Johnson’s Glass House in Connecticut. Loder and his wife Yolanda the couple purchased the land from one of the last heirs of the Irvine family, who had owned it since Spanish land grants were issued in the 19th century. Built over eight years and completed in 2010, the place was originally owned by entrepreneur Ronald K. Moore acquired the Italianate-style structure back in 2018 for “just” $32.7 million, more than doubling the property’s value in just three years. Moore - who owned the house through his Abalone Point LLC and also previously owned two Newport Coast homes - is also a major landlord of commercial properties, though he remains low profile. credit card processing company Merchant Services. Per records, the home’s seller was Jason Moore, the Puerto Rico-based owner of Irvine, Calif. As was first reported by the Wall Street Journal, Edelman and his wife Susan Lebovitz-Edelman now hold the keys to a nearly 18,000-square-foot mansion in northern Laguna’s ultra-exclusive, guard-gated Irvine Cove community. The buyer is Joseph Edelman, founder and CEO of the New York-based biotech hedge fund Perceptive Advisors. The sale bests the recent $61 million transfer of a house in nearby Newport Coast, and blows away a $55 million compound deal in Corona Del Mar from a few years back. Though it was never officially on the market, a lavish oceanfront estate in Laguna Beach has sold for a jaw-dropping $70 million - the priciest Orange County residential real estate transaction ever recorded.
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