TOKYO (Reuters) – U.S. investment fund Lone Star has been unable to get the green light from creditors for its planned acquisition of a failed Japanese real estate investment trust (REIT), the second time the deal has been blocked, an official of the REIT said. The rejection could lead to the liquidation of New City […]
NEW YORK (Reuters) – Sun-Times Media Group Inc., the bankrupt publisher of the Chicago Sun-Times, said on Tuesday that an investor group led by Chicago businessman James Tyree would be the lead bidder for its assets at a bankruptcy auction. Tyree’s group, STMG Holdings LLC, which will be the company’s “stalking horse” bidder, has offered […]
SINGAPORE/KUWAIT (Reuters) – Even after a news conference gave out names of the buyers planning to purchase a 46 percent stake in Kuwaiti telecom Zain (ZAIN.KW), questions still surround the $13.7 billion deal. Any large acquisition comes with uncertainties, but rarely does a deal this size fail to immediately identify key questions such as funding […]
NEW YORK (Reuters) – Private equity firm Blackstone Group (BX.N) and other backers are investing up to $780 million in a newly formed company created to acquire building materials businesses, the investors said on Tuesday. The new company, named Summit Materials, will be led by Tom Hill, the former CEO of Oldcastle Inc, the U.S. […]
The Internet is alive with the sound of memorializing. There's no shortage of retrospective Lehman Brothers coverage as we approach the one-year anniversary of the Wall Street stalwart's demise. The New York Times, CNN, Reuters, Forbes, Guardian, BBC and Times Online, have all chimed in, just to name a few. But since we at peHUB mostly care about private equity, we wanted to provide a "Where are they now" update on the fate of the buyout businesses affected by the collapses of Lehman, Merrill Lynch, AIG and, of course, Bear Stearns. Get it after the jump...
BUDAPEST (Reuters) – China’s Yantai Wanhua Polyurethane Co (600309.SS) is seeking to buy a stake in privately owned Hungarian chemicals firm BorsodChem as a long term strategic investor, business daily Napi Gazdasag said. The paper said on Tuesday, without naming its sources, that top executives from the Chinese firm have held talks this year with […]
Bluewater Broadcasting LLC, a Montgomery, Ala.-based radio broadcaster backed by Alta Communications, has filed for Chapter 11 bankruptcy protection. The company has between $10 million and $50 million in liabilities. www.altacomm.com
AMSTERDAM (Reuters) – Fortis Bank Nederland said on Friday it sold its trust and corporate management business Intertrust to private equity firm Waterland, removing a potential conflict of interest for the Dutch state. When Fortis’s Dutch operations were nationalised in Oct. 2008, Intertrust was included in the package — putting the government in charge of […]
TOKYO (Reuters) – Permira, CVC Capital and Bain Capital have been shortlisted for the second round of bidding for Bellsystem24, Citigroup’s (C.N) telemarketing company in Japan, sources with direct knowledge of the deal said. The sale of Bellsystem24 is expected to fetch more than $1 billion, making it the largest acquisition involving foreign private equity […]
MOSCOW (Reuters) – Private equity firm TPG Capital and the private equity arm of Russian state bank VTB (VTBR.MM) bought a large stake in Russian hypermarket chain Lenta, banking sources told Reuters on Monday. Their comments followed a report in Kommersant business daily that TPG and VTB had teamed up to buy 35.4 percent in […]