(Reuters) – Canadian logistics services provider Livingston International Income Fund (LIV_u.TO) agreed to be taken private by Canada Pension Plan Investment Board and Sterling Partners in a deal valued at about C$225.3 million ($213.6 million). Under the deal, Livingston’s unit holders would receive C$8 per unit in cash, representing a premium of 20 percent based […]
Capital Partners Inc. has sponsored a recapitalization of AMES Inc., a Wilmington, N.C.-based provider of maintenance project and workforce management solutions to the U.S. commercial nuclear power industry. No financial terms were disclosed. Cobblestone Harris Williams advised AMES on the transaction.
Argos Soditic has acquired a majority stake in Misapor, a Surava, Switzerland-based maker of foam glass granulate for the European construction market. The deal was structured as a management buyout. PRESS RELEASE ARGOS SODITIC announces the acquisition of a majority stake in MISAPOR, the leading foam glass granulate producer in Europe through an MBO. Located in Surava, […]
(Reuters) – Kohlberg Kravis Roberts and Co’s plan to restructure the debt of Energy Future Holdings Corp (EFH), following a leveraged buyout in 2007, is in jeopardy due to opposition from its key bondholders, the New York Post said, citing sources. Franklin Templeton Investments, one of the major lenders holding more than half the bonds […]
BUDAPEST (Reuters) – Hungarian chemicals firm BorsodChem said its lenders want private equity owners Permira and Vienna Capital Partners to keep a majority stake in the company, potentially scuppering rival plans by China’s Wanhua Industrial Group. BorsodChem, which is in the middle of a debt restructuring, added that chemicals firm Wanhua may become a minority […]
MUMBAI (Reuters) – Global buyout giants such as Warburg Pincus and the Carlyle Group may have to wait a decade or more for Indian family business cultures to change before they can make big buyout deals, finance industry executives said. Meanwhile, growth capital funds have seen better opportunities in India finding bargains by taking stakes […]
The FDIC announced yesterday that the assets of failed Corus Bank will be sold to a private equity consortium that includes Starwood Capital Group, TPG Capital, WL Ross and Perry Capital. The firms will pay $554 million for a 40% stake, or around 60 cents on the dollar (FDIC retains a 60% equity stake). The bank’s deposits were sold separately in an earlier auction (TPG and Starwood began looking at Corus three or four months ago, before a decision was made to do the deposit/asset split). I spent some time on the phone last night with TPG senior partner Kelvin Davis, whose real estate experience includes the co-founding of Colony Capital. Most interesting was his assessment of the assets that TPG now holds. A lot of them are luxury condo properties, in all stages of development. I referred to them as “ghost towns,” which Davis said was unfair:
WARSAW (Reuters) – Private equity firm EQT plans to buy Polish specialised medical equipment maker HTL Strefa for 886 million zlotys ($310.1 million), the Polish company said on Thursday. EQT is offering to buy all of HTL Strefa’s 64.6 million shares at 13.71 zlotys apiece and has already reached an agreement to buy 77.8 percent […]
NEW YORK (Reuters) – The private equity firms that own U.S. radio operator Clear Channel Communications Inc, denied a story by The New York Post, which said banks have refused funding assistance. “The New York Post story about Clear Channel today is dead wrong, and we told them so,” a representative for private equity firms […]
BRUSSELS/NEW YORK (Reuters) – Blackstone Group LP (BX.N) plans to buy Anheuser-Busch InBev’s (ABI.BR) U.S. theme parks for up to $2.7 billion, the companies said on Wednesday, expanding the private equity firm’s entertainment portfolio. The sale by AB InBev was widely expected as the company focuses on paying off $45 billion in loans from the […]