NEW YORK (Reuters) – U.S. hotels firm Extended Stay is favoring a new planned bid for it from investment companies Centerbridge Partners and Paulson & Co over a rival one on the table from a group led by Starwood Capital Group, a source familiar with the situation said on Sunday. The Starwood-led group had agreed […]
NEW YORK (Reuters) – Billionaire investor Wilbur Ross said on Sunday he is prepared to commit up to 500 million pounds ($760 million) to support Virgin Money in its bid to buy the branch network of the Royal Bank of Scotland (RBS.L). Ross said he has also invested $100 million ($152 million) in Virgin Money, […]
(Reuters) – SkillSoft Plc (SKIL.O) said SSI Investments III Ltd , a consortium of private equity firms, raised its cash offer for the e-learning software maker to $1.2 billion, sending its shares up 8 percent. The consortium of funds owned by Berkshire Partners, Advent International and Bain Capital has revised its offer for SkillSoft to […]
TAIPEI (Reuters) – Carlyle Group’s $1 billion deal to take a stake in mobile carrier Taiwan Mobile (3045.TW) has hit a regulatory hurdle and it was unclear if a June 30 completion deadline would be met, according to an official of the mobile firm. Under the deal, agreed last September, Carlyle will exchange its stake […]
Extreme Makeover: Wall Street edition. (NY Times) Growing Pains: American Apparel is having some issues after its explosive growth. Is anyone surprised or upset by this news besides investors in the American Apparel SPAC? Probably not. Maybe this means the company will buy fewer exploitative billboards... (WWD) Going Up: Deal multiples, that is. Apparently buyout barons are ready to start paying more for companies. I wonder if that loosening of the all-important "discipline" coincides at all with a return of leverage... (Reuters) I Knew It! Back when Berkshire, Advent and Bain struck their deal to acquire Skillsoft, we wrote that analysts and shareholders seemed unimpressed by both the price and the opportunity for a counterbid. Lo and behold, the buyout firms have sweetened their bid. (Reuters) Opportunity is EVERYWHERE: David Rubenstein is the biggest private equity cheerleader out there. While other accomplished buyout barons such as Kravis or Bonderman may sit back with the attitude that they don't have to explain themselves to us, Rubenstein is out there beating the buyout drum. (CNN)
Sun Capital Partners has acquired certain assets of 3D Entertainment Group Ltd., a UK-based operator of late night bars targeting the 25 to 40 year old market. No financial terms were disclosed for the deal, which was done via a prepackaged bankruptcy.
GE Energy Financial Services has invested $150 million for a 30% stake in a liquefied natural gas receiving terminal under construction in Mississippi. The seller was Crest Group.
(Reuters) – Privately held Papa Murphy’s, known for its take ‘n’ bake pizzas, said it was being bought by private equity firm Lee Equity Partners for an undisclosed amount. Lee Equity bought Papa Murphy’s from another private-equity firm, Charlesbank Capital Partners LLC, which owned a majority stake in Vancouver, Washington-based pizza chain. Papa Murphy’s, which […]
Crestview Partners and MidOcean Partners have agreed to acquire a combined 42% equity position in Insight Communications Company Inc., the nation's ninth-largest cable operator. Sellers include The Carlyle Group, which will retain a 42% equity stake.
Crystal Financial has launched as a new commercial finance company that will originate and underwrite secured term loans of up to $150 million. It has received an undisclosed amount of private equity funding from Soros Fund Management.