Warburg Pincus has agreed to invest $138 million into Sterling Financial Corp. (Nasdaq: STSA), as part of the bank holding company’s recapitalization. THL Partners previously had agreed to invest $175 million, but will adjust its investment to match that of Warburg Pincus. PRESS RELEASE Sterling Financial Corporation (NASDAQ:STSA) (“Sterling”), the bank holding company of Sterling Savings […]
Morgan Stanley Private Equity has formed a strategic partnership with Bill Mitchell, former chairman and CEO of Arrow Electronics, to form an IT services provider focused on serving small and medium sized businesses (SMBs). The new platform will be created via investments and/or acquisitions.
MELBOURNE (Reuters) – Australian private hospital operator Healthscope Ltd (HSP.AX) on Monday said it would let its private equity suitors review its books over the next several weeks as they look to seal a $1.5 billion offer for the group. Healthscope advised shareholders take no action on the offer of A$5.75 a share from TPG […]
TOKYO (Reuters) – TPG Capital and Advantage Partners are among the bidders left in the competition to buy Anabuki Construction Inc, a Japanese apartment developer that failed last year with about $1.6 billion in debt, two sources with knowledge of the deal said. Anabuki, based on the southern Japanese island of Shikoku, announced in February […]
NEW YORK (Reuters) – Private equity firm Blackstone Group LP (BX.N) is considering investing $500 million alongside a group that has offered to help General Growth Properties Inc (GGP.N) exit bankruptcy protection, a source familiar with the matter said on Friday. Brookfield Asset Management Inc (BAMa.TO), William Ackman’s Pershing Square Capital Management and Fairholme Capital […]
FRANKFURT (Reuters) – Billionaire Nicolas Berggruen has made an offer to buy insolvent department store chain Karstadt a week before an extended deadline for bids runs out, A spokesman for the investor said on Friday. Until Berggruen’s offer, European buyout firm Triton was the only bidder to emerge. Berggruen Holdings is a private equity firm […]
NEW YORK (Reuters) – Goldman Sachs Group Inc’s (GS.N) private equity unit is to buy food supplier Michael Foods from private equity firm Thomas H. Lee Partners THL.UL in a deal valued at $1.7 billion, Michael Foods said in a press release on Friday. THL, which invested in the eggs and refrigerated potatoes supplier in […]
The Harvard Drug Group, has acquired Spectrum Pharmacy Products, a maker of fine chemicals and laboratory products, from Spectrum Chemical Manufacutring Corp. No financial terms were disclosed. Harvard Drug is a portfolio company of Court Square Capital Partners.
(Reuters) – Terra Firma, the private equity firm run by Guy Hands, has raised its investment in renewable energy by buying the Ardrossan Windfarm in Ayrshire, Scotland from Scottish & Southern Energy (SSE.L). Terra Firma’s Infinis, which also has landfill gas operations, will pay 28.1 million pounds ($40.38 million) in cash and assume debt of […]
LONDON (Reuters) – Britain’s Royal Bank of Scotland (RBS.L) is mulling a private sale of health group The Priory, abandoning plans for a flotation due to turbulent financial markets, the Financial Times reported on Thursday. RBS has held talks with private equity groups over a potential sale of The Priory, favoured by celebrities for its […]