Reuters News

The PE firm slightly sweetens an LBO offer--but will the former SPAC partner bite?

Private Equity-backed Community Choice Financial Inc. lowered the expected price range of its planned initial public offering of 10.7 million shares to $10 to $12 per share. The lender, which offers short-term consumer loans, title loans and check cashing services, was earlier expecting to price its IPO between $13 and $15 per share. The company […]

(Reuters) – Carl Icahn won control of oil refiner CVR Energy Inc. on Monday as shareholders backed his $2.6 billion takeover, ending a three-month long tussle with the company’s board. Icahn said at least 63 percent of CVR’s shares had been tendered to his $30-a-share offer. With the purchase of these shares, which will occur […]

(Reuters) – India will slash the tax on long-term capital gains for private-equity investors to 10 percent from 20 percent, a finance ministry statement said on Monday. India will also exempt long-term capital gains on the sale of unlisted securities in initial public offerings from tax, the statement said. New Delhi also proposes to levy […]

Rovio Entertainment, creator of Angry Birds games, said its finances were good enough for a listing after revealing a strongly profitable 2011 in its first public disclosure of business results, Reuters reported. The company forecast a strong year ahead, and said it was now preparing for an offering by ensuring it meets corporate governance requirements. […]

Private equity group Blackstone Group has made its first acquisition in Singapore, buying the StarHub Green project from Germany’s SEB Asset Management for S$215 million ($173 million). Blackstone bought the 400,000-square-foot business park as part of an opportunity real estate fund, according to a source familiar with the deal. SEB and Blackstone agreed to the […]

Blackstone's stock may not be up, but CalPERS is set to open up a major managed account with the listed investment firm.

Hawker Beechcraft Inc., the aircraft maker owned by Goldman Sachs‘s private equity arm and Onex Corp., on Thursday filed for bankruptcy protection as part of a prearranged deal with lenders that will eliminate about $2.5 billion in debt and $125 million in annual interest expenses. Hawker, which was bought by the private equity firms in […]

South Korea’s SK hynix dropped out of the race to buy Elpida Memory Inc., dimming the prospects for a deal that the ailing Japanese chipmaker was counting on to sustain operations and repay creditors. Elpida filed for bankruptcy protection in late February with 448 billion yen ($5.6 billion) in liabilities. SK hynix decided to pull […]

(Reuters) – China’s state-owned Bright Food Group has agreed to buy a 60% stake in British cereal firm Weetabix Food Co. from private equity firm Lion Capital, which, if completed, would be its second successful overseas acquisition in less than a year. The deal, which gives Weetabix an enterprise value of 1.2 billion pounds ($1.94 […]