cnolan

The Stephens Group, a Little Rock, Ark.-based private equity firm, is taking a majority stake in Summit Industrial Construction. Atlanta-based Summit is a heavy industrial construction company focusing in the power, chemical, paper, plastics, minerals and mining, and food/beverage markets. Terms were not released.

Malaysian buyout firm Navis Capital has acquired Australia firm Photon Group's Field Marketing & Retail Agencies division for A$146.5 million ($152 million), Reuters reported Thursday. Navis this week also agreed to sell its safety footwear asset Kings Safetywear to U.S. diversified manufacturer Honeywell International for $338 million.

Hogan Lovells, a London-based law firm, announced Thursday that it advised Exponent Private Equity on the sale of Magicalia Media Ltd. to Immediate Media Co. No terms were released. The sale was completed on October 31.

Chinatrust Financial, Taiwan’s top credit card issuer, is planning to raise $300 million for its first venture capital fund, Reuters reported Thursday. The company aims to invest in Taiwan companies operating in China.

Billionaire activist investor Carl Icahn has increased his stake in U.S. truck and engine maker Navistar International Corp. to 9.99% from 9.8%, Reuters reported. Reuters reported last month that Icahn wants Navistar to consider a merger with rival Oshkosh Corp.

Sycamore Partners has acquired a 51% stake in Mast Global Fashions, Limited Brands Inc.'s apparel sourcing division, Reuters reported. The private equity firm plans to run the sourcing and production business as a stand-alone company. Terms were not released. Limited will retain a 49% stake in the business.

Yunfeng Capital, Silver Lake and other investors have completed the purchase of a 5% stake in Alibaba Group, parent of listed Alibaba.com, worth $1.6 billion on November 1, Reuters reported Thursday.The private equity firms were purchasing the shares by leading a tender offer for employee shareholders, option holders and certain other shareholders of Alibaba Group, Reuters wrote.

Blackstone Group has completed its acquisition of Emdeon Inc., a provider of healthcare revenue, payment cycle management and clinical information exchange technology. The deal was valued at roughly $3 billion. Hellman & Friedman will maintain a “significant minority equity interest” in Emdeon, the company said in a press release.

McDermott Will & Emery advised Speyside Equity in the sale of a majority stake in portfolio company United Initiators GmbH, and a minority stake in portfolio company Sweet Ovations, to Vision Capital, the law firm announced Wednesday. Vision Capital is based in London. Terms were not released.

Germany's biggest steelmaker ThyssenKrupp invited private equity buyers to a roadshow about a sale of its stainless business, Reuters reported Wednesday. Among the firms invited to participate were Apollo, Blackstone Group and Kohlberg Kravis Roberts & Co., Reuters said.