(Reuters) – Energy Future Holdings on Friday said debt holders have tendered $4.47 billion of notes, or 99.58 percent of the amount outstanding in its latest debt exchange offer. The privately held company said it has accepted about $3.59 billion of the notes tendered for exchange, including $1.428 billion of 10.875 percent senior notes due […]
Mistral Equity Partners today added its sixth portfolio company: Country Pure Foods, a producer and distributor of single-serve juices for convenience and grocery stores. One of the Country Pure's major segments is serving institutions like schools and hospitals, says Andy Heyer, Mistral Equity’s managing partner. Brands include Ardmore Farms, Glacier Valley, and Natural Country. First Atlantic Capital and DN Partners were the sellers. Country Pure’s management is retaining a stake, Heyer says, while Bank of Montreal is providing senior debt financing.
With only a few weeks left of summer, we’ve all heard about how fundraising is difficult, deals are taking longer to close and Tiger Woods seems to be suffering on the golf course. But a more important issue confronts us: What is everyone reading? The Wall Street Journal this week discovered that PE execs were mainly into non-fiction (only separate mentions of "The Brief Wondrous Life of Oscar Wao" and "The Alchemist.") More than one exec said they're reading “The Big Short: Inside the Doomsday Machine,” by Michael Lewis. peHUB conducted its own very unscientific poll and found that--surprise!-- fiction was indeed popular. In fact, many execs confessed to be reading “The Girl with the Dragon Tattoo.”
(Reuters) – Blackstone Group (BX.N) said on Friday it will buy power producer Dynegy Inc (DYN.N) for $543 million in cash and sell four of its power plants to NRG Energy (NRG.N) in the latest shake-up in the hard-hit power industry. Dynegy shareholders will receive $4.50 in cash per share, a 62 percent premium over […]
(Reuters) – Chinese state-run investment company Citic Group has acquired a majority stake in Tokyo-based cardboard maker Tri-Wall KK, the Nikkei business daily reported without citing sources. Citic’s private-equity arm Citic Capital Partners paid several billion yen for shares held by Tri-Wall investors. It plans to back Tri-Wall’s expansion and aims at listing the box […]
Francisco Partners has completed its take-private acquisition of EF Johnson Technologies Inc. (Nasdaq: EFJI), an Irving, Texas-based provider of secure communications solutions to organizations that protect and save lives. The deal valued EF Johnson at nearly $40 million, or $1.50 per share.
Irving Place Capital has agreed to acquire a majority stake in pet products retailer Pet Supplies Plus. No pricing terms were disclosed, although LBO Wire previously reported that the deal would include around $80 million in equity (including $18m from management). Debt financing was committed by BNP Paribas, Societe Generale and KeyBanc Capital Markets.
(Reuters) – Private equity firm TPG Capital’s [TPG.UL] debt investment team is looking at a restructuring plan for Australian power generator Alinta Energy (AEJ.AX), The Australian newspaper said on Friday. The TPG fund has teamed up with other lenders to draft a debt-for-equity plan to resurrect the company as a single entity, The Australian said, […]
SYDNEY (Reuters) – Australia’s Telstra Corp Ltd (TLS.AX) has agreed to offload its stake in SouFun, China’s second-largest online real estate website, to two private equity firms and existing shareholders for around $400 million ahead of a float. Telstra said on Friday private equity firms General Atlantic and Apax Partners APAX.UL and two SouFun shareholders […]
NEW YORK (Reuters) – Private equity firm CVC Capital Partners [CVC.UL] asked lenders to global chemicals distributor Univar to approve a new $300 million loan and extend existing debt as it readies a 49 percent stake sale, sources told Thomson Reuters LPC. The stake is expected to be sold to another private equity firm, one […]