(Reuters) – First-round bidding for MBK Partners LP’s stake in China Network Systems Co Ltd (CNS) and Gala Television Corp (Gala TV) has started, marking MBK’s exit from Taiwan’s cable TV industry. Private equity house MBK, which invested in cable TV multiple systems operator (MSO) CNS in July 2007 and cable TV content provider Gala […]
LONDON (Reuters) – Unilever (ULVR.L) (UNc.AS) has agreed to sell its slow-growing Italian frozen foods unit Findus to Birds Eye Iglo, which belongs to private equity group Permira, for 805 million euros ($1.05 billion). The disposal of Unilever’s last remaining frozen foods business in Europe reunites it with Birds Eye Igloo which the consumer goods […]
SYDNEY (Reuters) – Private equity firms TPG and Carlyle won a bidding war for Australian hospital owner Healthscope Ltd (HSP.AX), agreeing to pay $1.73 billion in the country’s largest buyout deal since 2007. Kohlberg Kravis Roberts & Co (KKR.N) was trumped by a higher-than-expected offer by TPG and Carlyle following last-minute negotiations at the weekend […]
(Reuters) – Australian hospital group Healthscope (HSP.AX) has received final takeover bids from private equity group Kohlberg Kravis Roberts & Co (KKR.N) and a consortium of TPG [TPG.UL] and Carlyle [CYL.UL], sources close to the deal said on Saturday. Healthscope’s board was expected to meet at the weekend to consider the offers for Australia’s second-largest […]
Bank of America has put its Balboa Insurance unit on the block, and should expect to see some private equity interest. The Irvine, Calif.-based group provides insurance coverage on foreclosed homes and properties occupied by distressed borrowers. It was not clear what price Balbo would fetch. BofA, in its second quarter earnings announcement Friday, did not list Balboa. However, BofA’s net loss for home loans and insurance increased by $808 million to $1.5 billion for the three months ended June 30.
(Reuters) – Energy Future Holdings Corp on Friday launched a new debt exchange as the energy company seeks to reduce its heavy debt load and high interest expense, caused by its leveraged buyout in 2007 The Dallas, Texas-based company offered to exchange its 11.25 percent pay-in-kind notes due 2017 and 10.875 percent bonds due 2017, […]
(Reuters) – A handful of private equity firms are still interested in U.S. electronics chain RadioShack Corp (RSH.N), sources familiar with the situation said. Private equity firms Blackstone Group LP (BX.N), TPG Capital [TPG.UL] and Advent International are interested, the sources said. Some potential suitors, such as Bain Capital, had been interested earlier but are […]
SunTrust Banks finally announced some good news Friday when it said Federated Investors has agreed to buy RidgeWorth’s money market assets. Federated is acquiring RidgeWorth’s money market mutual funds which have $17 billion in assets. The deal includes nine RidgeWorth money market funds that will be transitioned into six Federated money market funds.
Manoir Industries SAS, a portfolio company of Sun Capital Partners, has acquired Kartik Steels Ltd., an Indian manufacturer of steel castings for the petro-chemical industry. No financial terms were disclosed.
Vantage Specialty Chemicals, a portfolio company of H.I.G. Capital, has recapitalized Lipo Chemicals Inc., a Paterson, N.J.-based provider of ingredients and ingredient technologies to the personal care and cosmetics industry. No financial terms were disclosed.