Hopes for a recovering auto industry buoyed car parts maker Sensata Technologies Holding (ST.N) in its market debut on Thursday, sending its shares up as much as 5.6 percent.
(Reuters) – Kabel Deutschland’s premium pricing for its $1 billion IPO could invite a similar fate to other recent failed private equity-led offerings, and some still think it’s a ploy to smoke out trade buyers. On Wednesday, the price range emerged on the offering, valuing KDG at an enterprise value of 6.75-7.25 times earnings before […]
Courts Asia, a Singapore and Malaysia-based furniture and electronics retailer, is planning to raise more than $100 million in a Singapore initial public offering, Reuters reported. Courts was taken over in 2008 by Asia Retail Group, an entity partly owned by Barings Private Equity.
E-learning software maker SkillSoft Plc (SKIL.O) said the $1.1 billion offer made by a group of private-equity firms was the only option left at the end of its go-shop period, disappointing investors who were expecting better. The news sent the American depositary shares of the company down more than 5 percent on heavy volumes on Thursday. The cash offer of $10.80 per share was made last month by SSI Investments III Ltd, a company formed by funds owned by Berkshire Partners, Advent International and Bain Capital.
U.S. buyout firm Advent International has appointed advisors to assess a possible sale of budget store chain Poundland, the Financial Times reported on Friday. The private equity group, which also owns German fashion retailer Takko, has hired Close Brothers as it assesses its options for the single-price retailer, which could include a sale to a rival firm or another buyout house, the FT said.
(Reuters) – LyondellBasell said late on Thursday that it plans to raise $3.25 billion in debt, including an offering of senior secured notes, as the chemical company charts its course to emerge out of bankruptcy. The net proceeds from the sale of senior notes, coupled with borrowings under the term loan and proceeds from a […]
(Reuters) – Softbank Corp, Japan’s third-largest mobile phone operator, said it would invest in bankrupt rival Willcom Inc as it aims to expand its network and close the gap with NTT DoCoMo and KDDI Corp. Willcom, majority-owned by U.S. private equity firm Carlyle, last month filed for bankruptcy with 206 billion yen ($2.3 billion) in […]
Oaktree Capital Partners is preparing to take over Almatis, an alumina company based in Frankfurt, from Dubai International Capital in a debt for equity exchange worth $1 billion, Bloomberg reported. The plan will cut the company’s debt to $420 million. http://www.almatis.com/
Lineage Capital has sponsored a majoroity recapitalization of Bioreclamation Inc., a Westbury, N.Y.-based maker of control matrix material used by biotech and pharma companies in preclinical and clinical development. No financial terms were dislcosed. Mufson Howe Hunter & Co. advised Bioreclamation on the deal.
PHILADELPHIA (Reuters) – Mental health facilities operator Psychiatric Solutions Inc (PSYS.O) said it hired Goldman Sachs as its financial adviser after being approached by third parties about a possible acquisition of the company. The Wall Street Journal previously reported that private equity firm Bain Capital was in talks to buy the company, with Psychiatric Solutions […]