DETROIT (Reuters) – Chrysler LLC Chief Executive Bob Nardelli said on Monday that German automaker Daimler AG is working with Cerberus Capital Management to divest its 19.9 percent stake in struggling U.S. automaker. The top priority was to preserve Chrysler and the entire leadership team was focused on completing the required deals to qualify for […]
Monomoy Capital Partners has acquired Global Thermoplastics LP, a Houston, Texas-based maker of engineered compounds for plastic molding applications. No financial terms were disclosed. Monomoy will merge Global Thermoplastics into Fortis Plastics LLC, a plastic injection molding and extrusion platform that the firm formed late last year.
Invesco and its WL Ross affiliate announced that they are prepared to commit $1 billion to the Public-Private Investment Program (PPIP).
TOKYO (Reuters) – Shares of Japan’s Shinsei Bank (8303.T) and Aozora Bank (8304.T) soared on Monday after sources said the two money-losing lenders were in merger talks to form Japan’s sixth-largest bank. Both lenders were nationalised during Japan’s banking crisis in the 1990s and later sold to foreign funds. A new, merged bank would be […]
Power-One Inc. (Nasdaq: PWER), a Camarillo, Calif.–based provider of power conversion and power management solutions, has raised $60 million in PIPE financing from Silver Lake Sumeru. The deal includes $23.6 million in convertible preferred stock, $36.4 million in senior convertible notes due 2019 and 8.7 million warrants for Power-One common stock.
Performance Designed Products LLC, a maker of video game accessories, has sued Dreamgear LLC for patent infringement and trade dress infringement. PDP is a portfolio company of Patriarch Partners. The complaint is not yet available via the PACER system, but we'll post it once it's there.
NEW YORK (Reuters) – American International Group Inc (AIG.N) has received second-round bids from three groups for its aircraft leasing business, valuing the unit at under $5 billion, a source familiar with the matter said on Monday. The bids for International Lease Finance Corp (ILFC) have come from groups led by private equity firms Thomas […]
HONG KONG (Reuters) – HSBC Private Equity and Actis Capital LLP are preparing bids for a stake in Franklin Offshore International, sources said on Monday, as struggling private equity firm 3i Group Plc seeks to sell its majority stake in the oil services company. A deal for Franklin Offshore may fetch about $400 million for […]
SEOUL (Reuters) – Anheuser-Busch InBev (INTB.BR) has picked private equity firm Kohlberg Kravis Roberts & Co (KKR) as preferred buyer of South Korea’s Oriental Brewery (OB), a company official said on Monday, confirming a report. Online news outlet MoneyToday cited an unnamed industry source as saying that KKR had revised upwards its bid price for the […]
Madrid (Reuters) – Private equity house Terra Firma [TERA.UL] plans to lodge a bid for UK airports operator BAA’s London’s Gatwick Airport, Spanish newspaper El Pais reported on Saturday without citing a source. Separately, El Pais cited sources close to the bidding process as saying that The Lysander Gatwick Investment Group is the favourite of […]