KENNETT SQUARE, Pa. Phoenix Services LLC (“Phoenix” or the “Company”), a premier provider of outsourced slag handling, metal reclamation, and other complementary services to leading steel mill customers around the world,  announced that Apollo Natural Resources Partners II, L.P. (“ANRP II”), a fund managed by affiliates of Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), has agreed to acquire the Company from its existing shareholders, including majority shareholder Olympus Partners. Terms of the transaction were not disclosed.

Phoenix, founded in 2006, is a leading global provider of value-added industrial services to steel mills serving world class customers such as ArcelorMittal, Nucor Steel, and US Steel, among others. The Company has a global workforce of approximately 2,100 employees and operates in 34 locations on four continents.

“We are excited to work with Phoenix Services and its outstanding management team and employees. We have been extremely impressed with the Company’s customer focus, track record of operational excellence, and strong commitment to safety,” said Gareth Turner, Senior Partner at Apollo. “We look forward to leveraging Apollo’s global platform and expertise to support Phoenix’s continued growth and superior customer service.”

About Phoenix Services LLC

Phoenix Services provides responsive world-class service to steel producers around the globe. Core services include slag handling utilizing slag pot carriers or the traditional slag pit digging with front-end loaders; the recovery and sizing of scrap metal to its customer’s specification; and processing slag for use by its steel mill customer or marketing processed slag material for aggregate use.

About Apollo Global Management, LLC

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $242 billion as of September 30, 2017 in private equity, credit, and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit

Cathay Bank Signs Agreement to Implement the Empower Now! Solution to Support Mortgage and Home Equity Originations

Black Knight, Inc. (NYSE:BKI) announced that Cathay Bank, a subsidiary of Cathay General Bancorp (NASDAQ:CATY) and listed on the Forbes list of “Best Banks in America,” has signed an agreement to implement the Black Knight LoanSphere Empower loan origination system (LOS) leveraging the Empower Now! implementation model. Empower Now! is a lower-cost implementation approach designed specifically for mid-tier financial institutions to provide a quicker deployment of Black Knight’s enterprise platform.Empower Now! offers mid-market lenders the option of implementing LoanSphere Empower functionality under a core configuration that has been developed based on common practices among many of the nation’s top lending institutions. Once deployed, lenders can then refine that configuration as their needs dictate, and the scalability of Empower Now! allows them to remain on the same system as their businesses grow.

LoanSphere Empower is a comprehensive origination platform that many of the nation’s top lenders use to support their retail, wholesale, consumer direct and home equity channels. Empower helps lenders electronically capture, process, underwrite and close loans. Empower Now! delivers the same enterprise Empower components and integrations, but can be implemented in a reduced timeline and at a significantly lower cost.

“We are ready to deliver all of the competitive advantages that the Empower Now! solution offers to help Cathay Bank as it expands its lending operations,” said Rich Gagliano, president, Black Knight Origination Software division. “By providing robust LOS capabilities with an accelerated implementation timeline and a cost structure that aligns with mid-market lenders’ needs, we believe Cathay Bank is well-positioned to support its successful lending operation today, as well as in the future.”

About LoanSphere

LoanSphere is Black Knight’s premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. The platform delivers business process automation, workflow, rules, and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight’s LoanSphere helps lenders and servicers reduce risk, improve efficiency, and drive financial performance.

About Black Knight

Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit

Anadarko Announces Open Season For West Texas Oil Gathering And Treating System

HOUSTON-Anadarko Petroleum Corporation (NYSE: APC)  announced its wholly owned subsidiary, DBM Oil Services, LLC (DBMOS), is holding a binding open season to identify interest in a new high-vapor-pressure oil-gathering and treating system serving portions of Reeves, Loving, Ward, and Winkler Counties in West Texas. The DBMOS system is expected to have a gathering capacity of approximately 400,000 barrels of oil per day (BOPD) and a treating capacity of 120,000 BOPD by the end of 2018, increasing to 180,000 BOPD in 2019 with future expansions as needed.

Subject to satisfaction of regulatory requirements and other project considerations, DBMOS expects the initial phase of the system to be operational in the second quarter of 2018.

The binding open season begins today and ends at 5 p.m. Central time on Dec. 28, 2017, unless extended pursuant to the terms of the open season notice.

Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2016, the company had approximately 1.72 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies. For more information about Anadarko and APC Flash Feed updates, please visit

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko’s ability to successfully satisfy regulatory requirements, meet the project in-service dates, and achieve the capacity rates identified in this news release. See “Risk Factors” in the company’s 2016 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.

Alibaba Group Announces Pricing of Offering of US$7.0 Billion of Senior Unsecured Notes

Hangzhou, China- Alibaba Group Holding Limited (“Alibaba”) (NYSE: BABA) announced the pricing of an underwritten registered public offering of US$7.0 billion aggregate principal amount of senior unsecured notes, consisting of:

US$700,000,000 2.800% notes due 2023 at an issue price per note of 99.853%;
US$2,550,000,000 3.400% notes due 2027 at an issue price per note of 99.396%;
US$1,000,000,000 4.000% notes due 2037 at an issue price per note of 99.863%;
US$1,750,000,000 4.200% notes due 2047 at an issue price per note of 99.831%; and
US$1,000,000,000 4.400% notes due 2057 at an issue price per note of 99.813% (collectively, the “notes”).
The offering is expected to close on December 6, 2017, subject to customary closing conditions.

Alibaba plans to use the net proceeds for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. An automatic shelf registration statement (including a prospectus) relating to the offering of debt securities was filed with the SEC on November 24, 2017 and became effective upon filing. The offering of the notes will be made only by means of a prospectus included in that registration statement, the preliminary prospectus supplement and the final prospectus, when available.

This press release contains information about the pending offering of the notes, and there can be no assurance that the offering will be completed.

This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “propose,” “plan,” “expect” and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements, including statements relating to the timing and completion of the Company’s proposed offering, are not guarantees of future performance or results or the completion of any offering on any announced terms, or at all, and involve risks and uncertainties, and that actual results, developments or timing of events may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the company and its business, operations, financial condition and the industries in which it operates, market conditions, the satisfaction of customary closing conditions related to the proposed offering and the factors described in the company’s filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The company disclaims any obligation to update any forward-looking statements contained herein, except as required under applicable law.

About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.

ArcelorMittal and the Fonds Kirchberg announce the winner of architecture contest to design new headquarters for the world’s leading steel company

ArcelorMittal and the “Fonds d’Urbanisation et d’Aménagement du Plateau de Kirchberg,” (“the Fonds Kirchberg”) have  announced that the architectural practice Wilmotte & Associés (“W&A”) is the winner of the architectural consultation to design ArcelorMittal’s new global headquarters building in Luxembourg.

W&A was selected by a nine-person jury chaired by Aditya Mittal, CFO of ArcelorMittal and CEO of ArcelorMittal Europe, following a highly competitive process with designs proposed by many of the world’s leading architects.

Other landmark buildings designed by W&A include the Ferrari sporting management centre in Maranello, Google’s UK headquarters in London, the LVMH corporate headquarters in Paris and the five-star Mandarin Oriental Hotel also in Paris.

What I personally love is that this building visibly features steel, which is so often hidden from view. In fact, we believe that no other building of this size and scale has been designed specifically to feature steel throughout. Wilmotte & Associés have developed a truly innovative design that shows how beautiful steel is.” Aditya Mittal.

The ambitious winning design – which was unveiled in Kirchberg, Luxembourg today – is primarily steel and glass, and will showcase the diverse benefits of steel over other building materials* in addition to highlighting the use of steel in ‘green’, sustainable construction. As well as being ArcelorMittal’s headquarters, housing around 800 employees, some of the space will be leased for other uses. There will also be a restaurant, sports facility and a 200-seat auditorium available to the public.

W&A’s design responds to a detailed brief to design a modern, sustainable building that harnesses all the potential of steel from top to bottom. The result is a truly unique building that includes numerous design firsts, including innovative new products and features that are the result of a close collaboration between the designer and ArcelorMittal’s research and development teams. Technical innovations include:

  • A fluid and flexible ground floor space featuring no columns, a feature that is only possible with steel due to the use of a suspended steel exoskeleton
  • An integrated flooring system fully designed in steel which removes the need for false ceilings, resulting in high quality acoustics and improved aesthetics
  • A curtain wall completely designed in steel which results in a lighter, more airy building due to steel’s higher strength and superior elasticity
  • New section bars adapted from products designed for the automotive sector

The W&A design also responds to ArcelorMittal’s desire to have a sustainable building that promotes steel’s contribution to the circular economy.

The building follows the “cradle-to-cradle” concept, meaning that it can be dismantled and nearly all the steel products re-used in a new building without the need for recycling.

The building is also a low-carbon, energy-efficient building and will be “BREEAM outstanding,” “DGNB Gold,” and “BBCA” certified. Environmental credentials include solar power generation – featuring 4000 square metres of ArcelorMIttal steel photo voltaic cells on the roof – rain water management, and automatic window opening for natural ventilation.

It also features a bioclimatic public atrium, ventilated by a Canadian well system, which naturally cools the air in summer and heats it in winter.

The atrium is designed to evoke the Luxembourg countryside and will feature trees and plants in a woodland style that will bring additional environmental benefits, acting as a buffer for the temperature. Further green space will be created by setting the building back from the limit of the plot, creating new outdoor public spaces. The building will also be certified by a Gold level “WELL” label.

All of these features will serve to underpin ArcelorMittal’s commitment to sustainable development (SD) as encapsulated in our 10 SD outcomes, which are aligned with the United Nations Sustainable Development Goals (SDGs). Today’s announcement demonstrates in particular our commitment to creating sustainable infrastructure, our SD outcome 3 (aligned with SDG 11), and our determination to become a responsible energy user that contributes to a low carbon future – our SD outcome 6 (aligned with SDG 13).

Speaking in Luxembourg at an event to announce the winner, Aditya Mittal, chairman of the jury, said: “Taking the decision to invest in a new headquarters shows ArcelorMittal’s long-term commitment to Luxembourg. As the world’s leading steel company, it is also a great opportunity to have a new headquarters that showcases the flexibility, creativity and sustainability of steel as a construction material.

All the architects that participated in the competition submitted interesting designs and on behalf of my colleagues on the jury, I would like to thank them all for their creativity. Ultimately though we could only select one project and W&A stood out for their complete respect of every aspect of our brief, including practicality, aesthetics, economics and sustainability, as well as their enthusiastic engagement with our R&D team. They have developed a truly innovative design.

What I personally love is that this building shows the beauty of steel, which is so often hidden from view. In fact, we believe that no other building of this size and scale has been designed specifically to feature steel throughout. And, equally important, it will be a great place to work for our employees, a fantastic platform to show our customers what steel can do and an exceptional open space for visitors to this part of the city.”

The building is also a low-carbon, energy-efficient building and will be “BREEAM outstanding,” “DGNB Gold,” and “BBCA” certified. Environmental credentials include solar power generation – featuring 4000 square metres of ArcelorMIttal steel photo voltaic cells on the roof

Jean-Michel Wilmotte, Architect, President of W&A, said: “To be asked to design a new steel-based headquarters for the world’s leading steel company is an important commission. I love working with steel and am confident that we have developed a design that will showcase the very best of the material.

I am particularly excited about the ambition of the building, which is to show how creativity, coupled with modern techniques, can advance the sustainability, economics, and practicality of modern office building design and so improve the lives of those who work and interact with it. I hope that the employees of ArcelorMittal will be proud of the building and will enjoy coming to work there for many years and decades to come.”

Michel Wurth, President of ArcelorMittal Luxembourg, added: “As a Luxemburger, I’m proud and excited that such a forward-thinking design will be built here largely with steel made in Luxembourg. Our steel features in so many iconic buildings around the world, it’s great to have an opportunity to create another one here in our home country. I believe W&A’s design fully captures the atmosphere of tomorrow which is appropriate for ArcelorMittal as a company on the cutting edge of its industry and will also provide a great place for our employees to work. It will be a new addition to the Kirchberg plateau and of course we will work closely work with the municipality of Luxembourg during the planning phase to fully integrate this new building into the already iconic urban landscape and skyline.“

The consultation was initiated in February 2017 following ArcelorMittal’s decision in April 2016 to build a new head office in Luxembourg. ArcelorMittal is the principal industrial employer of the Grand Duchy with over 4,000 employees. The construction of a new, landmark headquarters building illustrates the Group’s commitment to maintaining its presence in the country, where the company has not only its head offices, but also seven industrial sites producing or processing steel, and developing steel solutions for the construction, automotive, general industry and agriculture sectors of the economy.

In the first phase, eight internationally renowned practices were invited to submit initial designs on April 27 and 28. Bernard Tschumi Architects, Foster + Partners, JSWD Architekten, Massimiliano Fuksas Architecture, Rafael Vinoly Architects, Rem Koolhaas OMA, Von Gerkan, Marg and Partners and Wilmotte & Associés were the architects included. In the second phase, three shortlisted practices – Foster + Partners, Rem Koolhaas OMA, and Wilmotte & Associés – were asked to develop a more advanced architectural design. These were then submitted to the jury which evaluated the proposals and then recommended Wilmotte & Associés to ArcelorMittal and to the Board of Fonds Kirchberg as the selected winner.

Groundbreaking is expected during the summer of 2019 with completion in the last quarter of 2021

*This includes the ability to include additional storeys without compromising ceiling height, due to reduced floor thicknesses; fewer internal columns due to the strength of the most modern steel beams, permitting more flexible internal layouts; and, due to the lighter weight of steel buildings as opposed to those using conventional materials, less deep foundations, bringing timing and cost benefits. Use of steel also brings efficiency to site operations given that even the most complex forms are pre-fabricated off site and only come to site for assembly. Compared to traditional construction methods, this saves time and manpower on site, and lessens road congestion caused by deliveries.