South Korea’s Hana Financial Group will look to private equity firms to fund its $4 billion acquisition of Korea Exchange Bank, Reuters reported. Hana is in early talks with firms including The Carlyle Group and Kohlberg Kravis Roberts & Co., Reuters said, adding that Hana will tap private equity firms for roughly half the cost of the buyout.
UK-based medical staffing company Healthcare Locums is in talks to buy Healthcare Australia, which provides nursing and homecare services, Reuters reported, citing an earlier report by the Australian Financial Review. Healthcare Australia is majority owned by CHAMP Private Equity.
The Carlyle Group, through its 5.4 billion euro ($7.2 billion) Carlyle Europe Partners III fund, has acquired six retail businesses from Primondo Specialty Group, a subsidiary of German holding company Arcandor. Financial terms of the deal were not released. The companies acquired include board-sports and street-wear retailer Planet Sports; Danish mail-order business Bon’A Parte; and women’s apparel company Elégance.
The private equity arm of New York Life Investments has named Alan Weinfeld as managing director and head of business development, a newly created position. Weinfeld comes to the firm from Darby Private Equity in New York, where he was a director of business development. PRESS RELEASE: New York Life Capital Partners (NYLCAP), the private […]
Phoenix Technologies said Tuesday that it has become an indirect subsidiary of Marlin Equity Partners, a Los Angeles-based private investment firm. Phoenix, of Milpitas, Calif., provides core systems software products. Earlier this month, Marlin agreed to buy Phoenix for $4.20 a share, or $152 million. Phoenix stockholders approved the merger on Nov. 19.
The Blackstone Group said Tuesday that its agreed to manage Bank of America Merrill Lynch's Asia real estate assets. Blackstone will also act as the GP for the Merrill Lynch Asia Real Estate Opportunity Fund. Financial terms weren't announced. BofA said that it has decided that the Merrill Lynch real estate assets in Asia aren't core to its strategy for the region. Most of the Merrill Lynch Asia real estate team has agreed to join Blackstone. Blackstone is a New York PE firm.
USI Holdings, a portfolio company of Goldman Sachs Capital Partners, said Tuesday that it has bought the New Jersey operations of Kinloch from Kinloch Holdings. West Orange, N.J.-based Kinloch specializes in commercial property & casualty and employee benefits insurance for middle-market businesses. Kinlock is expected to contribute about $5.1 million revenues to USI on an annual basis. Financial terms weren't announced. Briarcliff Manor, N.Y.-based USI distributes property and casualty insurance and employee benefits products to businesses throughout the US. Goldman Sachs Capital Partners is the PE arm of Goldman.
Welsh Carson Anderson & Stowe’s exit from Concentra caps a busy month in the healthcare space for the New York PE firm. Yesterday, Humana announced it agreed to buy Concentra for about $790 million cash. The sale follows a 12-year hold for Welsh Carson, which acquired the Addison, Texas-based Concentra in 1998 for about $772 million, plus $328 million in debt. New York-based Welsh Carson, a PE firm, hired Barclays earlier this year to shop Concentra, which is a national provider of occupational health services. Concentra has 300 medical centers in 40 states that offer occupational medicine, urgent care, physical therapy, and wellness services, according to its web site. Recently, the company has been trying to morph itself into a provider of primary care clinics.
KSL Capital Partners will pay an undisclosed amount for The Squaw Valley Development Company, which operates the Squaw Valley ski resort. Financial terms of the deal were not released, though the companies said the acquisition would close by the end of the year. Squaw Valley is located near Lake Tahoe in Northern California and is comprised of more than 4,000 acres. KSL Capital Partners has offices in Denver and New York, and focuses on investments in the travel and leisure industries.
Paris-based private equity firm PAI Partners is expecting offers to buy its 50% stake in Yoplait, Reuters reported. One offer, an unsolicited $1.9 billion bid from European dairy group Lactalis, was rejected last week as too low, and because it would have forced out French shareholder Sodiaal, Reuters said. Possible new bidders for the stake could include Nestle and General Mills.