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India's Reliance Communications is in exclusive talks with private equity firms Blackstone Group and Carlyle Group to sell its telecoms tower unit, Reuters reported, citing the Times of India. A consortium of Blackstone and Carlyle was likely to complete a deal by December that was expected to value the towers at more than $3.5 billion, the newspaper said, citing an unnamed source familiar with the process.
Advent International, Apollo Global Management and Bain Capital are among those bidding for Belgian chemicals company Taminco, which is owned by CVC Capital Partners. Buyout houses Rhone Capital and Carlyle Group are no longer in the process after their bids were deemed too low, Reuters wrote Thursday.
Canada Pension Plan Investment Board, one of the world's top private equity players, said on Thursday the value of its assets under management slipped in its fiscal second quarter, but were up on a year-over-year basis, Reuters reported.
Regions Financial Corp. has re-opened talks with rival Stifel Financial Corp. to bolster the unit's auction, Reuters reported Thursday. Regions resumed talks with Stifel after bids from two potential private-equity groups came in lower than expected. Thomas H. Lee Partners and a consortium that includes Blackstone Group and Carlyle Group submitted bids in the $750 million range that included financing from Regions, Reuters wrote.
OMERS Ventures, the investment arm of the OMERS pension plan, has added Howard Gwin as a managing director. Previously, Gwin has worked as president of Solect Technology Group and as EVP of Worldwide Operations at Peoplesoft Inc.
Top shareholders of Hynix Semiconductor Inc. will decide on Friday whether to pick sole bidder SK Telecom as the preferred investor, a lead shareholder said on Thursday, raising hopes that the long-delayed sale may finally succeed, Reuters wrote Thursday.
TPH Partners has sold Midland, Texas-based portfolio company Storm Peak Energy. Storm Peak owns oil properties in Culberson County, Texas. Lantana Oil & Gas Partners Inc. and Kelly Hart & Hallman LLP advised Storm Peak on the asset sale. Details of the sale were not released.
H.I.G. Capital announced Thursday that it had completed the sale of Securus Technologies to Castle Harlan. Terms of the deal, which closed at the end of May, were not released. Securus, based in Dallas, was formed by H.I.G. in September 2004 through the merger of Evercom Systems and T-Netix. The Company provides detainee communications and information management technology for correctional facilities.
Vantiv Inc., a payment processor, has filed to raised up to $100 million in an initial public offering, Reuters reported Thursday. The company, owned by Fifth Third Bancorp and buyout firm Advent International, said it planned to list on the New York Stock Exchange or Nasdaq.
Harvest Partners has completed its acquisition of TruckPro Inc., buying the auto parts distributor from Oaktree Capital Management. Oaktree will continue to hold a “significant ownership stake” in TruckPro, the firms said. Terms of the deal were not released. TruckPro is a distributor of heavy duty aftermarket truck parts and accessories.