Shares of Banco Bradesco SA (ADR) (NYSE:BBD) ended Friday session in red amid volatile trading. The shares closed down -0.68 points or -7.24% at $8.71 with 17.75 million shares getting traded. Post opening the session at $9.07, the shares hit an intraday low of $8.71 and an intraday high of $9.10 and the price vacillated in this range throughout the day. The company has a market cap of $49.46 billion and the numbers of outstanding shares have been calculated to be 2.76 billion shares.
Banco Bradesco S.A. (Bradesco) is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment. In its banking segment, the Company offers a range of banking products and services to its clients, including deposit-taking, granting of loans and advance payments, debit and credit card services, and capital market solutions, through its distribution network. Its products and services comprise banking operations, such as loans and advances and deposit-taking, credit card issuance, purchasing consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services.
Shares of Morgan Stanley (NYSE:MS) ended Friday session in red amid volatile trading. The shares closed down -0.45 points or -1.40% at $31.59 with 16.49 million shares getting traded. Post opening the session at $31.98, the shares hit an intraday low of $31.59 and an intraday high of $32.27 and the price vacillated in this range throughout the day. The company has a market cap of $61.06 billion and the numbers of outstanding shares have been calculated to be 1.91 billion shares.
On September 6, 2016 Investment funds managed by Morgan Stanley Global Private Equity (collectively, “MSPE”) announced that they have completed an investment in Cadence Education, Inc. (“Cadence Education” or the “Company”). Financial terms of the transaction were not disclosed.
Cadence Education, headquartered in Scottsdale, AZ, is one of the United States’ leading providers of early childhood education, focusing on the care and curriculum-based education of children between the ages of six weeks and twelve years old. The Company’s national platform of more than 150 schools has the capacity to serve more than 20,000 students across 20 different states.
Aaron Sack, Co-Head of Morgan Stanley Global Private Equity, said, “We are excited to invest in Cadence Education, which is a leading provider of high quality early childhood education in the U.S. We look forward to supporting the talented management team during the coming years of organic and acquisition-fueled growth.”
Jim Howland, Managing Director and Operating Partner of Morgan Stanley Global Private Equity, added, “We are delighted to partner with a management team committed to providing an exceptional educational experience for children and peace of mind for parents. As with our prior investments in education, we look forward to supporting management as they further strengthen the company and its educational offering through investing in sophisticated marketing, technology and educational capabilities.”
Dave Goldberg, President and Chief Executive Officer of Cadence Education, said, “We are excited to partner with Morgan Stanley Global Private Equity and enter a new phase of growth. We are proud of the accomplishments of the entire Cadence Education team and expect this new partnership to help us continue to deliver the highest quality care and education to families. We expect this partnership to help us to deliver on our brand promise and continue our mission of becoming the leading provider of early childhood education.”