WASHINGTON/DETROIT (Reuters) – A U.S. Supreme Court justice granted on Monday a request to put on hold the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA. U.S. Supreme Court Justice Ruth Bader Ginsburg, in a one-sentence order, said the orders of the bankruptcy judge allowing the sale “are […]
Arcapita has agreed to sell restaurant operator Church’s Chicken to Friedman Fleischer & Lowe, according to a source close to the situation. The deal, advised on the sell side by Bank of America, represents a rare exit of a stable, growing company. Church’s Chicken has annual revenues that have grown between 8% and 10% through the recession as consumers trade down to less expensive dining. Within the past two weeks, San Francisco-based Friedman Fleischer was selected as the winning bidder from an auction that started with as many as ten buyout suitors, the source said. In April peHUB reported the sellers had narrowed the bidding pool to three or four parties. At the time, Atlanta-based Arcapita was seeking a full valuation of up to 8x Ebitda for the company.
Golden Gate Capital has agreed to acquire the J. Jill apparel brand from The Talbots Inc. (NYSE: TB) for approximately $75 million.
Entrust (Nasdaq: ENTU), a Dallas–based company that secures digital identities and information for consumers, reiterated its recommendation that shareholders vote in favor of a $114 million buyout by Thoma Bravo, after no superior offer emerged during a “go-shop” period. Entrust stockholders would receive $1.85 per share. www.entrust.com
Sopra Capital has acquired Provo, Utah-based the parent company of quick-serve restaurants Hogi Yogi, Teriyaki Stix and Yoasis Brands. No financial terms were disclosed.
BOSTON (Reuters) – Boston mutual fund giant Fidelity Investments and New York private equity firm Kohlberg Kravis Roberts & Co.(KFN.N) have struck a deal to sell shares of KKR initial public offerings to retail customers, hoping for a comeback in the frozen market. KKR has investments in 50 companies with a combined $200 billion of […]
LONDON (Reuters) – British education and training company BPP (BPP.L) said on Monday it had received an agreed cash offer from Apollo Global at 620 pence per share, valuing the business at 303.5 million pounds ($482.3 million). The offer represents a 70 percent premium to BPP’s closing price on April 28, the day before it […]
(Reuters) – Clear Channel Communications Inc is confident of reaching an agreement with lenders who are threatening to turn down a proposed debt exchange with the radio and outdoor advertising group, the Financial Times said, citing the firm’s international business head. The recently appointed chief executive of Clear Channel International, William Eccleshare, told the paper […]
SINGAPORE (Reuters) – British private equity firm 3i (III.L) has shelved a plan to sell its majority stake in unlisted Singapore oil services firm Franklin Offshore International after bids for the stake came in below expectations, two sources with knowledge of the deal told Reuters. 3i had received three bids which valued the stake at […]
HONG KONG (Reuters) – U.S. private equity giant Bain Capital has agreed to buy a major stake in China’s top home appliance retailer GOME (0493.HK), beating rival bidders including KKR and Warburg Pincus, a source with direct knowledge of the deal said on Sunday. The two parties are still finalising financial details at the weekend […]