NEW YORK (Reuters) – Harrah’s Entertainment Inc. has won approval from lenders to extend the maturity date on a $5.5 billion real estate loan, giving it until 2015 to pay off the debt, the company said on Monday. Harrah’s, the world’s largest operator of casinos, will also have the ability to buy back the commercial […]
H.I.G. Capital has acquired Albertville Quality Foods (Albertville, Ala.) and Southern Quality Meats (Pontotoc, Miss) both providers of further processing services for protein-based products. No financial terms were disclosed. Sellers included Tennessee Valley Ventures.
LONDON (Reuters) – HgCapital is in exclusive talks to buy UK commercial laundry equipment supplier John Laithwaite (JLA), in a deal that could be worth around 150 million pounds ($225.5 million), people familiar with the matter said. HgCapital saw off competition from other private equity houses to enter exclusive talks for the business, which provides […]
(Reuters) – Private equity firm CCMP Capital has agreed to buy data and marketing services company Infogroup Inc (IUSA.O) for about $460 million, the Wall Street Journal said, citing people familiar with the situation. Infogroup had hired investment bank Evercore in December 2008 to evaluate its options, the Journal said. An auction had drawn bids […]
LONDON (Reuters) – The remains of HBOS’s (HALp.L) investment portfolio could be sold this week with private equity group Coller Capital believed to be in pole position to buy what is left, reported the Sunday Times. The report said HBOS Integrated Finance, HBOS’s collection of investments in companies such as Vue cinemas and coffee chain […]
(Reuters) Global miner Anglo American said it had received “strong interest” in its zinc assets but would not confirm that Vedanta Resources (VED.L) and HudBay Minerals (HBM.TO) were the front-runners to acquire them. Britain’s Independent on Sunday reported that Indian-focused mining group Vedanta and Canadian miner HudBay were keen on buying Anglo’s zinc assets, which […]
NEW YORK (Reuters) – Penton Business Media Holdings Inc, a publisher of 113 trade magazines such as Ward’s AutoWorld, Restaurant Hospitality and National Hog Farmer, won court approval of its reorganization plan, and expects to emerge from bankruptcy within a few days. Judge Arthur Gonzalez confirmed the New York-based company’s Chapter 11 plan on Friday […]
Sorry for the light posting so far today, but I've been sidetracked by dozens of emails about my argument that Permira should tell portfolio company Hugo Boss to keep open its Ohio suit-making plant. Specifically, I said that Permira might be making a poor financial decision for itself, in that the resulting loss of future LP commitments could exceed -- or at least offset -- savings generated by outsourcing the Ohio jobs to [insert your own Asian nation here]. In response, the collective you has accused me of "hypocrisy," "populist buffonery" and of being a "raving protectionist." Some of these attacks are accompanied by compelling dissents, so let me try to address them:
Sun Capital Partners has acquired Arch Aluminum & Glass Co., a bankrupt architectural glass and aluminum fabricator and distributor based in Tamarac, Florida. No financial terms were disclosed.
(Reuters) – Broadband services provider RCN Corp (RCNI.O) said it agreed to be bought by investment fund ABRY Partners for about $536 million, excluding debt, as private-equity firms return to the deal market. ABRY’s offer of $15 a share in cash is 22 percent more than RCN’s closing price on Thursday. Shares of the company […]