Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Opening date set for new movie theater in Pagedale * A new four- screen movie theater, 24:1 Cinema, is slated to open Nov. 6. The digital theater at 6755 Page Avenue is owned by the 24:1 Community Land Trust and was developed by the nonprofit community development group Beyond Housing. The movie theater is near other businesses added in Pagedale in recent years as part of revitalization efforts, including a Save-A-Lot grocery store and a Midwest BankCentre branch. The Wehrenberg Theatres chain is supporting the theater by assisting in hiring and lending other expertise, 24:1 Cinema said in a statement.

Lindell Bank parent buying Concord Bank * First Illinois Bancorp, Lindell Bank's parent company, is buying the parent company of Concord Bank in south St. Louis County, Concord Bancshares. Financial terms of the sale, which is pending regulatory approval, were not disclosed. Concord Bank's sole branch at 12040 Tesson Ferry Road will become Lindell Bank's 11th branch, according to a statement announcing the acquisition. Concord has $122 million in assets. Following the sale, Lindell Bank's assets will total about $600 million.

Apple moves ahead with electric car plan * Apple Inc. has designated building an electric car as a "committed project" and has set a target shipping date for 2019, the Wall Street Journal reported on Monday. The project has been code-named Titan, and its leaders have been given permission to triple the 600-person team, the WSJ said, citing people familiar with the matter.

Surgery Partners valued at up to $1.25 billion in IPO * Surgical center manager Surgery Partners Inc.'s initial public offering is priced at $23 to $26 per share, valuing the company at up to $1.25 billion. The company, which operates in 28 states, plans to sell 14.3 million common shares in the IPO and expects to raise 324.9 million at the midpoint of the range, according to its regulatory filing. The Nashville, Tenn.-based company operates 94 ambulatory surgery centers, including six in the St. Louis area, and five hospitals. Patients can receive services including anesthesia, diagnostics and radiation oncology at these centers. …

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