News Corp. is expecting to see bids for Myspace by the end of the week, Reuters said, with a price tag estimated at around $100 million – less than 20% of what News Corp. paid to acquire the once popular social networking site. News of the latest planned bids and expected valuation was first reported by Wall Street Journal on Tuesday. THL Partners, Redscout Ventures and Criterion Capital have all been named as potential buyers. News Corp. paid $580 million for Myspace in 2005.
Buyout shop Kohlberg Kravis Roberts said it will pay $104 million for properties in the Barnett shale in Texas, Reuters reported. The firm is buying the properties from explorer and producer Carrizo Oil & Gas. The acquisition, via KKR Natural Resources, the firm’s partnership with privately held Premier Natural Resources, marks the private equity fund's second venture in Barnett, Reuters wrote.
Another New Yorker? Former Mayor Giuliani weighs White House bid Better Put… Groupon is struggling to extend its competitive advantage into China The George Jung Fund? Pot growers look to take on some legit capital Yeah, Um, Good Luck With That: MySpace to be sold, for north of $100M?
Thomson Reuters’ Buyouts New York conference kicked off today with a star-studded list of speakers. Among the big names on today’s bill were David Rubenstein (pictured), co-founder of The Carlyle Group, Volkert Doeksen, CEO of AlpInvest, Scott Sperling, co-president of Thomas H. Lee Partners, and Erik Hirsch, CIO of Hamilton Lane. Take a peek into […]
Today was the first day of the Buyouts conference here in New York. David Rubenstein, CEO and co-founder of the Carlyle Group, spoke again about the importance of China. Scott Sperling, the co-president of Thomas H. Lee Partners, said they are "basically" comfortable with Carlyle owning AlpInvest. But I had my own take on the big issue facing the industry: Will private equity make a play for the Dodgers?
Josh Harris/Apollo
(Reuters) – New York elected officials, lobbyists and placement agents will be permanently barred from dealing with the state’s pension fund under new rules Governor Andrew Cuomo proposed on Tuesday. “The pension fund should be kept pure, and money belonging to taxpayers should not be the plaything of elected officials,” said the freshman Democratic governor. […]
Fifth Street Finance, a White Plains, N.Y.-based specialty finance company, has hired Gregory Browne as a managing director in its Chicago office, where he will cultivate and manage PE sponsor relationships and source debt financing opportunities in healthcare. Browne last worked at CapitalSource; he was also previously a senior VP at GE Capital’s Healthcare FInancial Services […]
BANGALORE/NEW YORK, April 26 (Reuters) – Lawson Software Inc has agreed to be bought by private equity firm Golden Gate Capital in a cash deal valuing the business software maker at about $2 billion, weeks after hiring bankers to look into a possible sale. Mid-sized business software makers are looking to consolidate in a bid […]
The Philippines' Rizal Commercial Banking Corp. is in talks with Hong Kong-based CVC Asia Pacific, and is negotiating to sell 127 million shares to the private equity firm, Reuters reported, citing the Manila Bulletin. The stake is worth roughly $83 million, and would be part of the banking company’s capital raising plans. In March Rizal sold a 7.2% stake to the International Finance Corp., the World Bank's private sector arm, for about $50 million.