Update: IDFC is denying the Economic Times report MUMBAI (Reuters) – The private equity arm of India’s Infrastructure Development Finance Co (IDFC.BO) is buying energy giant BP’s (BP.L) wind power assets in India for 6.5 billion rupees ($134 million), the Economic Times reported on Friday. This signals BP’s exit from India’s renewable energy market and underscores […]
TOKYO (Reuters) – Japan’s Asahi Breweries (2502.T) said it was not in talks to buy soft drinks maker Orangina, denying a newspaper report it was competing with domestic rival Suntory Holdings in a $3.8 billion auction. Private equity firms Blackstone (BX.N) and Lion Capital, which bought Orangina in 2006, are considering an approach from Asahi […]
TOKYO (Reuters) – Japan’s Asahi Breweries (2502.T) is in talks to buy soft-drinks maker Orangina, competing with domestic rival Suntory Holdings in a $3.8 billion auction, the Financial Times said on Friday. Private equity firms Blackstone (BX.N) and Lion Capital, which acquired Orangina in 2006, are considering an approach from Asahi after an exclusive negotiation […]
NEW YORK (Reuters) – Hotel chain Extended Stay Inc agreed to an investigation into the buyout of the company in 2007 and its bankruptcy filing this year, according to court documents. Jacqueline Marcus, a lawyer with Weil, Gotshal & Manges representing Extended Stay, said during a bankruptcy court hearing that she expects the court to […]
Cotton Creek Capital has acquired Waste Partners of Texas, a Dallas-based provider of solid waste collection, sweeping, portable sanitation and related services in the Southwestern U.S. No financial terms were disclosed for the deal, which was followed by a bolt-on acquisition of Texas Toilets of Texas.
Business Monitor International Ltd., a London-based provider of country risk analysis and macroeconomic forecasting, has received a minority equity investment from Spectrum Equity Investors. No financial terms were disclosed.
Tejas Completion Solutions, a Houston-based provider of design, engineering and testing services to the completions segment of the oilfield services market,has acquired the inflow control device and reservoir fluid modeling business of Ziebel Tulsa LLC. The deal was financed by Tejas sponsor Intervale Capital. No pricing terms were disclosed.
LONDON (Reuters) – Britain’s National Express (NEX.L) has started talks with the consortium led by its largest shareholder that has made a $1.3 billion approach for the bus and train operator. “The independent board confirms that it is discussing certain aspects of the final proposal with the consortium,” National Express said in a statement on […]
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts "Seeking Buyers" list. For prior lists, see below, and send any additions my way. Landry's Restaurants Inc announced it was exploring strategic alternatives after it received a letter from Tilman J. Fertitta, Chairman, President and CEO, expressing his desire to enter into formal discussions with the Special Committee regarding a going-private transaction and a related tax-free spin-off of the Company's wholly-owned subsidiary, Saltgrass, Inc. ("Saltgrass"). Helicos Biosciences retained investment bank Thomas Weisel partners to advise it on various strategic business options.
While we wait for a Cadbury counterbid that may never come, I ran some data to get an idea of private equity’s historic appetite for sweets. In the last five years, there have only been 11 US-based LBOs in the candy, confectionary, chewing gum and chocolate sectors, and they’ve all been pretty small (see chart below). That’s not necessarily for a lack of targets, either. In 2007, Campbell Soup sold its chain of Godiva chocolate stores for $750 million to a strategic buyer. At the time, reports claimed the confectioner received “several” private equity bids, but no firms were called out by name (and I have reason to believe those rumors were planted by the sell side). The company ultimately sold to Yildiz Holding, a Turkish candy company, for much less than the price it originally was reported to be seeking.