(Reuters) – SKS Microfinance, an Indian firm that makes small loans to the poor, has raised about $358 million in an IPO after pricing the sale at the top end of the indicated price band, a source with direct knowledge of the matter said. People were attracted by the business model of the company, which […]
LONDON (Reuters) – Buyout firm JC Flowers on Tuesday outlined an innovative plan to invest in building society Kent Reliance, and said it was likely to clinch similar deals with other mutually-owned British lenders. “It’s fair to say we wouldn’t be surprised if in time other societies had an interest in a similiar partnership,” JC […]
Morrie Yohai, one of the inventors of the Cheez Doodle, has passed away. Yohai, 90, died last week of cancer, a Wise spokeswoman confirmed. Yohai, along with a team, helped develop the cheese-powder-covered baked corn puff. After World War II, Yohai took over his father’s snack food business in the Bronx and created the snack, according to Newsday. The Cheez doodle is an innovation that only comes along every 15 to 20 years, a banker says. "I can only hope that there are still people out there innovating new products which could become as successful in the future."
Freeman Spogli & Co. has acquired Brooks Equipment Co. from Behrman Capital for an undisclosed amount. Brooks is a Charlotte-based wholesale distributor of first response fire protection equipment and related parts.
NEW YORK, Aug 2 (Reuters) – Proceeds from initial public offerings in July soared on a global basis, hitting their highest level since before the 2008 financial meltdown, according to Thomson Reuters data. The $30.5 billion that new issues raised globally in July was the most since November 2007 and exceeded the amount raised by […]
It's official. The Washington Post Co. late Monday announced that they are selling Newsweek to Sidney Harman, the man who made his fortune selling stereo equipment. Terms of the deal were not announced but the Washington Post Co. said it will retain the pension assets and liabilities and certain employee obligations. Harman has said he will retain 250 of Newsweek’s 325 employees. It’s not clear what Harman will be paying although the New York Times, quoting one source, says he will pay $1 in exchange for absorbing Newsweek’s considerable financial liabilities.
Aspen Surgical Products, a portfolio company of RoundTable Healthcare Partners, has bought the Bard-Parker surgical blades and scalpels business from Becton, Dickinson and Co. As part of the deal, Aspen acuqired a plant in Las Piedras, Puerto Rico. Financial terms were not announced.
We finally know who the mystery bidder is for Modern Luxury. According to the New York Post, the Dickey Family, which controls Cumulus Media, is near a deal to buy the magazine publisher. Last week, peHUB reported that one of the two bidders for Modern Luxury was a radio owner with some publishing assets. We ruled out Jeffrey Smulyan of Emmis Communications. In truth, I was told it could be Cumulus but I didn’t have enough to go with.
Sonneborn, a Sun Capital Partners affiliate, has bought the natural sodium sulfonate and oxidized petrolatum businesses of Chemtura Corp. Inc. The U.S. Bankruptcy Court of the Southern District of New York has approved the sale to Sonneborn.
Boomerang Systems Inc., a maker of automated parking systems, has completed the sale of a $7 million private offering of securities to a group of private equity investors. The offering was for the sale of 28,000,000 shares of the Company's Common Stock, $0.001 par value, and an equal amount of Common Stock Purchase Warrants to purchase shares of common stock.