AMSTERDAM (Reuters) – Dutch waste management firm Van Gansewinkel said it was looking to divest a stake, preferably through an initial public offering (IPO), as its private equity owners look for an exit. Van Gansewinkel is owned by Kohlberg Kravis Roberts & Co and CVC Capital Partners and is the second private equity-owned Dutch firm after […]
(Reuters) – Sterling Financial Corp (STSA.O) said Boston-based Thomas H. Lee Partners L.P. (THL) agreed to invest $134.7 million in the company, as the company posted a quarterly loss and its shares fell 25 percent. The investment is contingent on the company’s converting $303 million of preferred stock held by the U.S. Treasury into common […]
Gresham Private Equity has sponsored a £32.8 million management buyout of UK-based telecom services company Team Telecom Group from Spice PLC.
Warburg Pincus has agreed to invest around €79.2 million into AmRest, a listed restaurant operator in Eastern and Central Europe. The PIPE transaction would give Warburg Pincus nearly a 25% ownership stake, with an option to increase its position to 33 percent. www.warburgpincus.com
Vision Capital has acquired a majority stake in Nordax Finans AB from Palamon Capital Partners. The deal valued Nordax Finans at approximately €105 million. The Stockholm-based company provides unsecured loans to individuals with "good credit standing" across the Nordic region.
CVC Capital Partners has agreed to acquire a 19% stake in listed Hong Kong brokerage Sun Hung Kai & Co., for approximately $272 million. Once closed, the deal would make CVC the company’s largest minority shareholder. www.cvc.com
HONG KONG (Reuters) – The CEO of HSBC Holdings said on Tuesday it would not bid for a $4.2 billion controlling stake in Korea Exchange Bank (004940.KS), ending speculation that Europe’s biggest bank would once again take part in the auction. When asked by Reuters whether HSBC (HSBA.L) (0005.HK) was bidding for U.S. private equity […]
LONDON (Reuters) – Privately owned Swiss drugmaker Nycomed, which is aiming for an eventual IPO, has signed up Merck & Co (MRK.N) to help sell its key lung drug Daxas in Europe and Canada, boosting its commercial prospects. Monday’s deal with one of the world’s biggest pharmaceutical manufacturers is an important validation for the once-daily […]
Ten days ago, private equity firm Quadrangle Group was in the news for all the wrong reasons. It was sued by the SEC for its alleged role in a pay-to-play pension scheme in New York, and then settled for $5 million. It also settled with New York for another $7 million, and threw in a public statement about how firm co-founder Steve Rattner's actions were "wrong, inappriate and unethical." Quadrangle had been hoping to settle for quite some time, in order to put the ugliness behind it and refocus on making new investments and selling old ones. And it would appear to be mission accomplished, as the firm today announced an agreement to sell portfolio company Protection One (Nasdaq: PONE) to GTCR for approximately $828 million, via a tender offer.
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. OptimumBank, based in Florida, is exploring strategic alternatives to help it regain the capital levels requested by the FDIC. The bank plans to raise capital through a public or private offering. Eastman Chemical Co said on Friday that it might put its struggling plastic packaging business up for sale. (Reuters) Atlantic Station LLC, a unit of Jacoby Group Inc. and AIG Global Real Estate, is seeking a buyer for its retail division. Nielsen, the world's largest TV and consumer measurement company, plans to begin hiring bankers for its initial public offering, the Financial Times reported on Sunday. (Reuters)