By Mike Spector and Jessica DiNapoli

NEW YORK (Reuters) – Purdue Pharma LP, the OxyContin maker controlled by members of the wealthy Sackler family, is nearing an agreement to plead guilty to criminal charges as part of a broader deal to resolve U.S. Justice Department probes into its alleged role in fueling the nation’s opioid crisis, six people familiar with the matter said.

Purdue lawyers and federal prosecutors are brokering a plea deal that could be unveiled as soon as within the next two weeks and include billions of dollars of financial penalties, four of the people said. They stressed that talks are fluid and that some of the terms could change as discussions continue.

In addition to the criminal case, U.S. prosecutors are negotiating a settlement of civil claims also carrying a financial penalty that allege unlawful conduct in Purdue’s handling of prescription painkillers, they said.

The Stamford, Connecticut-based company is expected to face penalties exceeding $8 billion. They consist of a roughly $3.54 billion criminal fine, $2 billion criminal forfeiture and $2.8 billion civil penalty, some of the people familiar with the negotiations said.

They are unlikely to be paid in the near term as the criminal fine and civil penalty are expected to be considered alongside other claims in Purdue’s bankruptcy proceedings and the company lacks necessary funds to fully repay all creditors.

The tentative agreement would draw a line under Purdue’s criminal exposure for what prosecutors and state attorneys general have described as aggressive marketing of a highly-addictive painkiller that minimized the drug’s potential for abuse and overdosing.

Over the years, Purdue reaped billions of dollars in profits from its opioids, enriching Sackler family members and funneling illegal kickbacks to doctors and pharmacies, federal prosecutors and state attorneys general have alleged. The company now faces thousands

Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.

Other trading exchanges also could be involved in the discussions, both sources said.

Nasdaq is planning a visit to Texas to meet with the governor, according to one of the sources. Leaders of the exchange have had “a great dialogue” with Abbott, the source said.

The exchange, which lists about 176 Texas companies and has 87 employees in the state, is intrigued by an opportunity touted by Abbott to power its electronic infrastructure with renewable energy from wind farms in the state, according to one of the sources. Nasdaq is the trading platform for many of the nation’s environmentally conscious companies.

When Facebook invested $1 billion in building its massive data center at AllianceTexas north of Fort Worth, it struck a deal to buy its electricity from a 17,000-acre wind farm under construction at the time. Facebook, which trades on Nasdaq, is now planning to add to its 150-acre campus, which opened in 2017.

Dallas-Fort Worth isn’t alone in wooing the stock exchanges. Officials in Virginia, North Carolina and Illinois have also had discussions with Nasdaq, one of the sources said.

In a statement to The Dallas Morning News, Nasdaq vice president of communications Joe Christinat said: “We are assessing all options, but our No. 1 priority is protecting the U.S. capital markets and its investors.”

A spokesman for the New York Stock Exchange’s parent company, the Intercontinental Exchange, couldn’t be immediately reached for comment.

A potential tax on financial transactions in New Jersey, where Nasdaq and other exchanges house the data systems that power Wall Street’s daily trades, is what’s driving the talks.

NYSE, Nasdaq and

By Nelson Bocanegra

BOGOTA, Oct 5 (Reuters)Colombia plans to substitute some of its planned 2020 financing in dollars for a local debt emission of about 5 trillion pesos ($1.28 bln), three market sources with knowledge of the plan told Reuters on Monday.

The ministry will extend auctions of local so-called TES bonds until November in order to raise the projected funds.

TES paper is the country’s second top source of financing after tax collection.

The Finance Ministry plans to move ahead with pre-financing needs for 2021 and is considering an internal debt swap on the local market, the sources said.

The ministry did not have an immediate response to a request for comment.

In early September, director of public credit Cesar Arias told Reuters Colombia would carry out public debt swaps with multilateral banks to reduce its exchange rate exposure amid higher debt due to coronavirus and evaluate opportunities to extend expiries on local bonds.

Colombia has been obliged to look for billions of dollars in funding by issuing bonds and obtaining credit with organizations like the Inter-American Development Bank to deal with economic upheaval from the coronavirus pandemic. The efforts have increased its exposure to international exchange rates.

The International Monetary Fund increased the country’s flexible credit line late last month to $17.3 billion to help it weather the crisis. The government may release about $5.3 billion.

The credit line, valid until April 2022, was originally for $10.8 billion.

($1 = 3,881.80 Colombian pesos)

(Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Leslie Adler and David Gregorio)

(([email protected]; +57-316-389-7187))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article

By Carolina Mandl

SAO PAULO, Oct 5 (Reuters)Private equity firms Warburg Pincus WP.UL and Gavea Investimentos are planning an initial public offering by Grupo GPS, a Brazilian facilities services provider in which they are key stakeholders, two sources familiar with the matter said.

Part of the proceeds of the offering, which are expected to reach 3 billion reais ($537.44 million), will go to the two private equity firms, with the rest going to the company for possible investment purposes, one of the sources added.

The company has hired investment banking units of Goldman Sachs GS.N, Itau Unibanco ITUB4.SA, BTG Pactual BPAC11.SA, Citigroup Inc C.N, Morgan Stanley MS.N and Bank of America Corp BAC.N to manage the IPO, according to the sources.

Founded in 1962, GPS has more than 86,000 employees and 2,400 clients, according to its website. It provides services such as cleaning, security, logistics and catering for companies.

If successfully listed, GPS will be the first facilities company listed on Brazil’s stock exchange, B3 SA.

Warburg Pincus and Gavea acquired minority stakes in GPS in 2015 and 2017, respectively.

The company, which has bought up a series of smaller rivals, consolidating an extremely fragmented sector, posted net income of 192 million reais last year.

GPS would be the third Brazilian company in which Warburg Pincus has a stake to go public this year, following pet store chain Petz PETZ3.SA and logistics company Sequoia Solucoes Logisticas SEQL3.SA, whose IPO is expected to price later on Monday.

($1 = 5.5820 reais)

(Reporting by Carolina Mandl in Sao Paulo Editing by Matthew Lewis)

(([email protected]; +55 11 5644 7703; +55 11 97116-3806;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

By Joshua Franklin

Oct 5 (Reuters)Danimer Scientific has agreed to go public by merging with blank-check acquisition company Live Oak Acquisition Corp LOAK.N, in a deal that values the U.S. bioplastics company at around $890 million, according to people familiar with the matter.

It is the latest example of a company opting to go public by merging with a so-called special purpose acquisition company (SPAC), rather than through a traditional initial public offering (IPO).

A wave of companies, including sports betting platform DraftKings Inc DKNG.O and U.S. healthcare-services company MultiPlan Inc, have agreed to deals with SPACs to go public this year. [nL1N2GQ1JK]

A SPAC is a shell company which raises cash in an IPO with the goal of buying an unidentified private company, usually within two years. It can offer a privately held company immediate certainty on the valuation it will achieve when it goes public, as opposed to punting on a traditional IPO. The downside often is the compensation of SPAC executives, who can request to receive significant stakes in the combined company for themselves.

For Bainbridge, Georgia-based Danimer, the deal with Live Oak will give it funding to continue its plans to expand capacity which were stunted earlier this year by the COVID-19 pandemic.

Danimer sells renewable and sustainable biopolymers which are biodegradable and compostable, a greener alternative to traditional plastic products.

The global biopolymer market is seen exceeding $13 billion by 2021, according to data from Transparency Market Research.

Live Oak raised $200 million in May 2020 through an IPO on the New York Stock Exchange.

Danimer will continue to be led by Chief Executive Stephen Croskrey.

ANALYSIS-Wall Street’s IPO enemies ready one-two punch

(Reporting by Joshua Franklin in New York; Editing by Lisa Shumaker)

(([email protected]; +1 646-223-6356; Reuters Messaging: [email protected]))