(Reuters) – French utility EDF (EDF.PA) has set June 21 as the deadline for financed offers in the sale of its British power grids, two people familiar with the matter said on Tuesday. The world’s largest utility by market value said earlier this month it would proceed with the sale, in which analysts say it […]
(Reuters) – As private equity firms continue their hunt for potential targets across the mid-tier restaurant landscape, rumors on who’s next to be taken private tend to swirl around fast food chain operator Jack in the Box (JACK.O). The stock exhibits some of the same features — cheap valuation and a low debt load — […]
Mistral Equity Partners has acquired a majority interest in LoveSac, a multi-channel retailer of bean-bag chairs and other furniture products. No financial terms were disclosed.
SunEdison, the solar energy unit of MEMC Electronic Materials Inc. (NYSE: WFR), has agreed to a joint venture with energy-focused private equity firm First Reserve Corp. The deal could result in First Reserve acquiring up to $1.5 billion in current and future SunEdison solar photovoltaic energy projects.
Jingle Punks Music LLC has raised an undisclosed amount of private equity funding from Hammerline Capital. The New York-based company publishes music for use in television, film, advertising and interactive to clients across the media and entertainment industries.
SYDNEY (Reuters) – Private equity firm Blackstone Group LP (BX.N) has joined a group bidding $1.5 billion for Australian hospital operator Healthscope (HSP.AX), a source familiar with the situation said. Blackstone had considered making its own bid but opted to join private equity firms TPG [TPG.UL] and Carlyle [CYL.UL] to provide extra financial backing, as […]
DLJ South American Partners has led the acquisition of a 25% stake in Grupo Santillana de Ediciones SL, a provider of educational book publishing for the Latin American market, from Grupo Prisa. The deal was valued at $370 million. Other participants included Gavea Investimentos, Highbridge Mezzanine Partners, Magna Capital, Stichting Pensioenfonds Zorg en Welzijin and DLJSAP limited partners like Albright Capital Management, Honeywell Capital Management, Partners Group and PCGI.
(Reuters) – Hampton Roads Bankshares Inc (HMPR.O) said it has entered into agreements with institutional investors to raise $255 million in capital, and also plans to conduct a $20 million rights offering. The company said private equity firm Carlyle Group and private investment firm Anchorage Advisors, L.L.C. would buy 168.8 million shares for about $73 […]
New York Magazine has a cover story today titled "Obama is from Mars, Wall Street is from Venus," about the toxic relationship between Washington and Wall Street. Not too much new, except for one head-scrating quote from a PE investor who seems to think that it's only bankers who don't get the politics of financial reform:
“'They’re not accustomed to being engaged in politics this way,' says a private-equity investor [about bankers]. 'Their skin isn’t toughened. They actually take [the attacks by Obama] personally. This is a profession with a lot of smart people, but who aren’t necessarily terribly introspective. They think they actually deserve to make all this money. So any attack on their livelihood is, ahem, unpleasant.'”
This is accurate of bankers. But, speaking of introspection, how is it possible for any private equity investor to think his industry is doing any better than those big babies on Wall Street?
Lloyds Development Capital has sponsored a £15 million management buyout of UK luggage maker Antler from Barclays Private Equity. No financial terms were disclosed. www.antler.co.uk