Home Authors Posts by cnolan

cnolan

London-based private equity firm Actis has paid $58 million for a minority stake in Brazilian independent brokerage firm XP Investimentos. Actis, which focuses on emerging markets, said it will work with XP to help it prepare for an initial public offering. The deal is London-based Actis’ third Brazilian investment in as many months. XP Investimentos is based in Sao Palo, Brazil.
Private equity shop Apax Partners will acquired a majority stake in Advantage Sales & Marketing, a marketing agency owned currently by J.W. Childs Associates and BAML Capital Partners. Financial terms of the deal, which is expected to close by the end of this year, were not disclosed. Irvine, Calif.-based Advantage Sales & Marketing has more than 1,200 clients and 66 offices across the U.S. Under the terms of the acquisition, Advantage’s current management team will continue to lead operations. Apax Partners is based in New York.
Buyout shops Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners will acquire Del Monte for $5.3 billion. The deal values Del Monte at $19 per share, a 40% premium over the company’s average closing price during the past three months. The deal includes the assumption of roughly $1.3 billion in assumed debt. Debt financing will come from Bank of America, Merrill Lynch, Barclays Capital Inc., JPMorgan Chase, Morgan Stanley and KKR Capital Markets.
The Carlyle Group has offered 1.9 billion Malaysian ringgit ($618.8 million) for Malaysia’s QSR Brands, the majority owner of KFC and Pizza Hut in Malaysia, Reuters reported. QSR is currently owned by Malaysian planter Kulim. The offer by Carlyle tops a previous offer by Malaysian businessman Halim Saad, Reuters said.
South Korea’s Hana Financial Group will look to private equity firms to fund its $4 billion acquisition of Korea Exchange Bank, Reuters reported. Hana is in early talks with firms including The Carlyle Group and Kohlberg Kravis Roberts & Co., Reuters said, adding that Hana will tap private equity firms for roughly half the cost of the buyout.
UK-based medical staffing company Healthcare Locums is in talks to buy Healthcare Australia, which provides nursing and homecare services, Reuters reported, citing an earlier report by the Australian Financial Review. Healthcare Australia is majority owned by CHAMP Private Equity.
The Carlyle Group, through its 5.4 billion euro ($7.2 billion) Carlyle Europe Partners III fund, has acquired six retail businesses from Primondo Specialty Group, a subsidiary of German holding company Arcandor. Financial terms of the deal were not released. The companies acquired include board-sports and street-wear retailer Planet Sports; Danish mail-order business Bon’A Parte; and women’s apparel company Elégance.
Private equity firm Elbrus Capital divested its stake in Mail.ru with the company’s initial public offering on the London Stock Exchange. Mail.ru is a Russian internet company that holds a 2.4% stake in Facebook, as well as stakes in U.S. internet start-ups Groupon and Zynga Game Network, the maker of the popular “FarmVille” Facebook game. Elbrus Capital invested in Mail.ru in 2007, and the exit represents Elbrus’ first from the fund’s portfolio, the firm said. The IPO valued Mail.ru at nearly $6 billion. Elbrus is based in Moscow.
China’s foreign exchange regulator has approved a $3 billion pilot program that will allow foreign currencies to be converted into yuan for private equity investments, Reuters reported. The program would benefit private equity firms such as The Carlyle Group and Blackstone Group, which have been raising yuan-denominated funds, Reuters said, adding that the program would also give overseas pension funds and other investors a new avenue for investment in China. The program could begin as soon as December.
Pipeline company Kinder Morgan filed Tuesday for an initial public offering of up to $1.5 billion, Reuters reported. The company was taken private in 2007 through a $14.6 billion management buyout, and is backed by investors including The Carlyle Group, Goldman Sach’s buyout fund, Highstar Capital and Riverstone Holdings. All the common stock in the offering will be sold by existing investors, Reuters said.
pehub
pehub

Copyright PEI Media

Not for publication, email or dissemination