Buyout shop Apollo Management plans to buy a portfolio of commercial real estate loans from Credit Suisse, Reuters reported. Apollo will pay $1.2 billion for the soured real estate loans, which have a face value of $2.8 billion. Credit Suisse is providing Apollo with debt financing for the deal, Reuters said.
U.S.-based Colony Capital is in talks to sell a minority stake in the French soccer club Paris Saint Germain, Reuters reported. The firm declined to release the name of potential investors, Reuters said.
Hana Financial Group plans to extend the deadline for a $1 billion share sale designed to help fund its $4.1 billion acquisition of Korea Exchange Bank, Reuters reported. The firm, which is buying the bank from private equity firm Lone Star, plans to accept letters of interested until mid-January. Reuters also said private equity firms Carlyle Group, Corsair Capital and MBK Partners have submitted letters of interest to buy the shares.
High Road Capital Partners’ Accentus, a Canadian medical transcription business, bought a pair of companies to boost its presence in outsourced medical transcription services and technology. The company, which High Road targeted for investment in 2009, will expand its footprint in the U.S. with Illinois-based Transolutions, Inc., and Florida-based ZyloMed. Bank of Montreal and BMO […]
Apax Partners announced that it has agreed to acquire Telgte, Germany-based Takko Fashion, a value fashion company. Nomura, Unicredit, Lazard and Ferber & Co. worked for Apax as advisors and Bain Consulting, PwC and Linklaters provided due diligence support to the investor. Other Apax fashion investments include Tommy Hilfiger, Phillips-Van Heusen/ Calvin Klein, rue21, inc., New […]
Buyout shop High Road Capital Partners has acquired Montvale, New Jersey-based Dowden Health Media. Financial terms of the deal were not released, although High Road said the deal was the seventh platform investment from its debut fund. The acquisition closed on December 22. Dowden provides marketing, communications and information technology services for pharmaceutical companies and hospitals.
InSite One Inc., the shared portfolio company belonging to PE shop Primus Capital Funds and VC firm Allegra Partners, has entered into an agreement to be bought by Dell Inc. Harris Williams’ Jeff Bistrong, Derek Swaim, Sam Hendler, and Eric Kim worked on the transaction. PRESS RELEASE: Harris Williams & Co. announces that InSite […]
Private equity firm Symphony Technology Group will pay $265 million in cash for the employer services and litigation support businesses of publicly traded CoreLogic. The newly spun-out businesses will operate under the name First Advantage. Palo Alto, Calif.-based Symphony Technology Group focuses on software and services companies. CoreLogic is based in Santa Ana, Calif.
Wine company Constellation Brands will sell its Australian and U.K. business to Champ Private Equity for about 290 million Australian dollars ($290.5 million). Constellation will retain a roughly 20% stake in the business unit. The deal is expected to close by the end of January. Formed in 1987, Champ has offices in Sydney, Brisbane, Singapore and New York.
Private equity shop Leonard Green & Partners will pay $1.6 billion to acquire fabric retail chain Jo-Ann Stores. The deal, at $61 per share, represents a 34% premium over the company’s closing price yesterday. J.P. Morgan, Bank of America Merrill Lynch and TCW/Crescent Mezzanine will provide financing for the deal. Jo-Ann Stores sells fabrics and craft supplies in 756 stores across 48 states. Los Angeles-based Leonard Green & Partners has more than $9 billion under management.