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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

With a New Billionaire Owner, What's Next for Utah's Powder Mountain Resort?

Less than five months ago, Netflix Co-Founder and former CEO, Reed Hastings, became a minority owner of Utah's Powder Mountain Resort by acquiring the bulk of the shares previously held by the four 30-something-year-old founders of the "Summit Series" events held at Powder Mountain. But now,

Salt Lake City-based Millburn & Company Acquires 276-Unit Apartment Complex in Arizona for $85.35 Million

Millburn has now acquired over $3.0 billion in multifamily real estate holdings during its 13-year history across nine states, with 8,725 doors "under management" today. EDITOR'S NOTE: During the short 10-week period since the formal launch of Utah Money Watch, we have been pleasantly

ICYMI: Utah's Top Eight Money Stories from the Second Half of August 2023

ICYMI: Utah's Top Eight Money Stories from the Second Half of August 2023

From the death of one of Utah's top inventors / technologists to an apparent new record set by Utah-HQ'd firms, we deliver our perspectives on each of the Top 8 Money Stories in Utah for second half of the month (August 16th through the 31st). AUTHOR'

Dominion Energy Agrees to Sell Questar to Enbridge for $4.3 Billion

Dominion Energy Agrees to Sell Questar to Enbridge for $4.3 Billion

Virginia-based Dominion Energy (NYSE:D) announced yesterday it is selling Questar to Calgary, Alberta-based Enbridge (NYSE:ENB) for $4.3 billion* ($3.0 billion in cash and $1.3 billion in assumed debt). According to Enbridge's Form 8-K filing with the U.S. Securities and Exchange Commission, Dominion

Salt Lake City-based Quotient Technology has Been Acquired in an All-Cash, $430 Million "Take Private" Transaction by New Jersey-based Neptune Retail Solutions

Salt Lake City-based Quotient Technology has Been Acquired in an All-Cash, $430 Million "Take Private" Transaction by New Jersey-based Neptune Retail Solutions

Roughly 10 weeks after the proposed agreement was initially disclosed, New Jersey-based Neptune Retail Solutions (with the backing of Charlesbank Capital Partners, its majority owner), announced yesterday, 5 September 2023, that it has closed its acquisition of Salt Lake City-based Quotient Technology (NYSE:QUOT) in a $430 million, all-cash, "

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

Salt Lake City-based Maverik Completes its Acquisition of Kum & Go and Solar Transport from Krause Group for a Reported $2.25 Billion

In under four months, Maverik — Adventure's First Stop, has more than doubled in size by acquiring the over 400 locations of Kum & Go, a midwestern fuel/convenience store chain producing $3 billion in annual revenue. Additionally, Maverik also acquired Solar Transport in the same transaction, a 60-year-old

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

Mea Culpa: Updating my Story About Swig's Move Into Franchising and Its Coming Transition to Multi-Unicorn Status

AUTHOR'S NOTE: One week ago, 25 August 2023, I published this story on Utah Money Watch: "Swig Lands an Estimated $134 Million in One-Time Revenue as it Sells 250 New Stores to 12 New Franchise Partners." Unfortunately, several of the underlying financial assumptions included in that