Deutsche Telekom is close to a deal to sell 70 percent of its online classified advertising business Scout24 to private equity firm Hellman & Friedman, Bloomberg reported. Citing unidentified sources, Bloomberg reported that the purchase would value the business, including debt, at about 2 billion euros ($2.71 billion) and that an announcement from the German telecoms firm could come this week.
November 19 (Reuters) - The co-head of Permira, one of Europe's biggest private equity firms, has warned his industry not to get carried away with the cheap credit that has been abundant since central banks flooded financial markets with trillions of dollars.
Patheon Inc (TSX:PTI), a provider of drug development and manufacturing services, has agreed to be taken private in a deal that values the company at around US$1.4 billion. The buyers are U.S. private equity firm JLL Partners, which has had a major stake in Patheon since 2007, and Dutch food and chemicals group DSM (DSMN.AS). The proposed takeover offer of US$9.32 per share, or US$582 million for investors other than JLL, has been recommended by independent members of the company's board of directors. On closing of the transaction, which will be put to a shareholders' vote at a special meeting in 2014, Patheon and DSM's existing pharmaceutical business will be combined. Founded in Fort Erie, Ontario in 1974, Patheon continues to be incorporated in Canada, and has its head office in Durham, North Carolina.
Novik Inc (TSXV: NVK), a designer, manufacturer and distributor of polymer exterior siding, roofing coverings and accessories, has agreed to be acquired by U.S. private equity firm Clearview Capital. The proposed acquisition price is $0.85 per share, or a total cash consideration of approximately $45 million, including the assumption of debt. It is anticipated that the transaction shall proceed by way of a court approved plan of arrangement pursuant to the Business Corporation Act (Québec). Founded in 2004, Novik is based in Saint-Augustin-de-Desmaures, Québec.
PharMEDium Services LLC, a venture capital-backed provider of pharmacy compounding services to hospitals, is in discussions to sell itself for close to $1 billion, sources told Reuters.
Brookside Mezzanine Partners has made an undisclosed investment in Stagnito Partners. Headquartered in Deerfield, Illinois, Stagnito, a portfolio company of Topspin Partners LBO, is a publisher of trade publications that targets food, gourmet and convenience store retailers.
The Wall Street Journal reported that Aviva is selling 39% of its stake in Eurovita Assicurazioni to JC Flowers for $44.25 million. The paper also said that Eurovita's other owner, Banco Popolare, has agreed to sell its entire stake in the company to JC Flowers. No financial terms were disclosed for that exit. Eurovita is an Italian life insurance company.
Noodles & Company said Tuesday that it has filed for a secondary public offering. The company has not disclosed the number of shares it plans to sell; however, it expects to ink an agreement with certain company executives to buy back shares in a private transaction. Noodles & Company currently trades its stock on the NASDAQ under the ticker symbol "NDLS." Morgan Stanley & Co. and UBS Securities are serving as lead underwriters. Noodles & Company, which is backed by Catterton Partners and Argentia Private Investments, is a fast casual restaurant chain.
European private equity firm 21 Partners said Tuesday that it has agreed to buy Synerlab from investment firm Ardian. No financial terms were disclosed. The transaction will be done in partnership with Synerlab's management team. Also, Ardian will subsequently reinvest in Synerlab. Based in France. Synerlab is a pharmaceutical contract manufacturing firm.
Hostmark Hospitality Group said Tuesday that it has teamed up with Pendo Investments and acquired the Hampton Inn Austin Airport. No financial terms were disclosed. Based in Austin, Hampton Inn Airport is a 102-room hotel located near the airport.