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CapMan Plc of Finland agreed to sell 30 percent of Paris, France-based Access Capital Partners Group SA to Pohjola Bank Plc. CapMan expects the transaction will impact its 2010 results by about EUR 23 million. The transactionis expected to close by the end of 2010. Access Capital has about EUR 2.9 billion in assets under management.
Takko is expected to attract at least four buyout shops, people familiar with the matter told Reuters. Apax Partners, Bain Capital, EQT and TPG are preparing proposals to take one of the Garmany’s largest clothing chains from Advent International. A another source told Reuters an initial public offering is also being considered.
WESCO International Inc.’s WESCO Distribution Inc. agreed to acquire TVC Communications LLC from Palisades Associates, a Bethesda, Maryland-based private equity firm. TVC of Annville, Pa., distributes broadband communications network infrastructure products.
Pamlico Capital of Charlotte, N.C., acquired ATX Networks from Trivest Partners. Members of management re-invested in partnership with Pamlico Capital to complete the transaction. Financial terms were not disclosed. ATX Networksof Ajax, Ontario, provides radio frequency management equipment.
Kirkland & Ellis International LLP relocated Partner Michel Debolt to Hong Kong from London. The move is designed to expand the firm’s private equity practice in Asia. Debolt advises private equity sponsors and their portfolio companies in Asia, Europe and North America. He focuses on mergers, acquisitions, joint ventures, interim and final liquidity realizations, equity restructurings and executive compensation, the firm said.
Avista Capital Partners of New York named Arthur Zuckerman as a partner and chief operating officer. Zuckerman, was chief executive of The TriCycle Group LLC, which is a consulting firm focused on administrative and operational issues at private equity firms.
Hana Financial Group is in talks to acquire Lone Star Funds’ stake in Korea Exchange Bank for $4.1 billion, Reuters reported. Hana, which is South Korea's fourth-largest financial services group by assets, confirmed the discussions with the Dallas, Texas-based firm. Australia & New Zealand Banking Group Ltd. is also interested in Korea Exchange Bank.
Partners Group AG of Switzerland opened an office in Seoul, Korea. The firm expects the new location will allow it to more directly target and invest in Korean companies. Partners Group already has more than 100 professional in five Asian countries.
Electra Private Equity PLC sold its minority stake in Rio Trens Corp., which owns interest in a transportation company in Brazil. Electra Private said the deal represents an uplift of 69 pence per share from Electra's net asset value on March 31 of 1,900 pence per share, based on exchange rates at the time of transaction. This valuation also reflects an additional investment made in June.
Far East Leasing plans to hold an initial public offering in Hong Kong in the first quarter of 2011, Reuters reported citing banking sources. Far East Leasing, which is a subsidiary of Sinochem, seeks to raise $500 million from the IPO. Kohlberg Kravis Roberts & Co. was one of the investors of the IPO, the source said.