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 […]
(Reuters) – British bank Barclays (BARC.L) is close to selling its Barclays Global Investors asset management unit to U.S. money manager BlackRock (BLK.N), the Financial Times said in a blog post on Friday. Citing “usually knowledgeable sources,” the newspaper’s Alphaville blog said the bank was preparing a release for after the close of trading in […]
DETROIT (Reuters) – General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday. The tentative deal for Saturn, which the companies hope to complete in the third quarter, would be […]
NEW YORK (Reuters) – The sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA (FIA.MI) was upheld by a U.S. appeals court on Friday, but the deal is expected to be appealed to the Supreme Court by a group of investors. A three-judge panel of the U.S. Court of […]
MILAN (Reuters) – Italy’s Safilo (SFLG.MI) expects to receive shortly offers from private equity funds interested in becoming shareholders in one of the world’s biggest eyewear makers. Safilo, which works for many designer brands like Dior and Gucci, said on Friday it would present the offers to its board for an “in-depth” review. Two sources […]
LONDON (Reuters) – Silverfleet Capital, formerly PPM Ventures, is finalising debt financing to back its proposed acquisition of German sausage casing maker Kalle Nalo from Montagu Private Equity, banking sources said on Friday. A group of seven or eight banks are currently working on the financing, three bankers said, adding that the loan was likely […]