(Reuters) – The following corporate finance-related stories involving U.S., European and Asian companies were reported by media on Friday: * The new chief executive of London Stock Exchange (LSE.L) Xavier Rolet has told La Tribune newspaper that he is ready to look at acquisitions and alliances but is not treating them as a priority. [ID:nLM494984] […]
(Reuters) – Kohlberg Kravis Roberts & Co KKR.UL may take advantage of the U.S. government’s infrastructure stimulus plan but is not as keen on buying banks or their troubled assets, the private equity firm’s co-founders Henry Kravis and George Roberts told the Financial Times. Kravis told the paper that there may be some programs where […]
(Reuters) – U.S. bank regulators seized troubled Florida lender BankUnited FSB and sold it to some of the most powerful private equity firms in the world. Firms including Wilbur Ross’s WL Ross & Co, Carlyle Group [CYL.UL], Blackstone Group (BX.N), and Centerbridge Partners are putting up $900 million of capital to rescue the bank, the […]
Reprinted with permission from Reuters Dealzone. By Paritosh Bansal Some people thought Florida lender BankUnited would be sold months ago as regulators fretted over its health amid the housing downturn. The Federal Deposit Insurance Corp tends to take over banks on Fridays as it gives them the weekend to put an institution’s business in order and re-open it under new management by Monday. So the question was, is this the Friday? The government has given BankUnited some leeway to try to work out a deal. That flexibility may be because the bank has some $13 billion of assets, and disposing of a bank that big could result in a real hit to the FDIC’s insurance fund, Raymond James analyst Michael Rose told Reuters in February.
(Reuters) – Two bidders remain in the running to buy Dutch waste manager Essent Milieu, and are likely to submit final offers of less than 700 million euros ($965 million) in the coming days, sources said. U.S. waste firm Covanta and the so-called “Orange” consortium are competing for Essent Milieu after a third suitor, private […]
Lombard Investments, a buyout firm based in Bangkok, has purchased a stake in Thai retail operator Robinson Department Store Public Company Limited. Press release: Lombard Investments, Inc. (“Lombard”) is pleased to announce the purchase by Lombard Asia III of 48 million shares of Robinson Department Store Public Company Limited (“Robinson”), a leading Thai retail operator, […]
(Reuters) – Software-maker SumTotal Systems Inc (SUMT.O) said the latest buyout offer it received from its largest stockholder, Vista Equity Partners, is superior to that offered by Accel-KKR. Technology-focused private equity firm Vista Equity Partners on Wednesday raised its bid for SumTotal Systems for the third time in a month to $4.85 per share in […]
(Reuters) – Pension funds and wealthy middle-east sovereign wealth funds are buying up investments in private equity funds, pushing up prices and sidelining secondary firms that specialize in acquiring the assets. The market for second-hand private equity assets — where private equity investors offload assets to specialist buyers — has mushroomed as the credit crisis […]
PNC Equity Partners has completed a dividend recapitalization of portfolio company Griffith Energy Inc., a New York-based propane and heating oil distributer. The deal realized a return of 1.5x on the firm’s invested equity; Manufacturers and Traders Trust Company, JPMorgan, HSBC and TriState Capital provided debt financing. Press release: PNC Equity Partners announced today the […]
Emerisque, a London private equity firm, has submitted a sweetened bid to purchase Hartmarx Corp., a bankrupt Chicago-based suitmaker, Crain’s reported. Buyout firm Mistral Equity and Yucaipa Corp. were also reported to be interested in complimentary parts of the company.