NEW YORK (Reuters) – Troubled U.S. discount clothing retailer Filene’s Basement has been acquired by an affiliate of the Buxbaum Group, a firm that specializes in corporate turnarounds and retail liquidations. Filene’s parent company, Retail Ventures Inc (RVI.N), said on Tuesday it had disposed of the unit for no net proceeds, after the discount clothing […]
FRANKFURT (Reuters) – U.S. financial investor Cerberus has no interest in taking a stake in General Motors’ (GM.N) Opel business, a source close to the situation told Reuters on Wednesday. Speculation of this was unfounded, the source said, also denying German newspaper reports that officials from Cerberus — majority owner of U.S. carmaker Chrysler — […]
LONDON (Reuters) – The staple financing backing Dutch utility Essent’s sale of its waste management unit pays interest margins ranging from 425-525 basis points over EURIBOR, a banking source close to the deal said on Wednesday. The auction is one of a handful of live sale processes to have attracted private equity interest as sponsors […]
Rite Ventures, a Swedish private equity firm has acquired Frank Dandy Superwear, a bankrupt maker of men’s underwear. www.riteventures.com
CHICAGO (Reuters) – The soured U.S. and global economy has killed a deal for a $2.52 billion long-term lease of Chicago’s Midway Airport, the city’s chief financial officer said on Monday. Chicago CFO Gene Saffold said the Midway Investment and Development Company, the group that successfully bid on the 99-year airport lease in September, was unable […]
SEOUL (Reuters) – Three private equity houses — Affinity Equity Partners, Kohlberg Kravis Roberts and MBK Partners — have made final offers for South Korea’s Oriental Brewery (OB), an official of the beer maker said on Tuesday. Anheuser-Busch InBev (INTB.BR), the world’s largest brewer and the owner of OB, had accepted the offers on Friday, […]
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co [KKR.UL] could make its money back on a two-year-old investment in the debt of Sun Microsystems Inc (JAVA.O), which agreed to be sold to Oracle Corp (ORCL.O) on Monday. The private equity firm, whose Amsterdam-listed fund KKR Private Equity Investors (KKR.AS) (KPE), invested $700 million in […]
GE Capital has sold its stake in SAFE Security, a San Ramon, Calif.-based security alarm company, to Rustic Canyon/Fontis Partners. No pricing terms were disclosed, except that the deal included a $25 million senior credit facility from Bank of America.
Dayton Superior Corp., a Dayton, Ohio-based concrete forming and shoring rental company, has filed for Chapter 11 bankruptcy protection. Odyssey Investment Partners acquired the company in 2000, and still maintained a sizable stake following a 2006 IPO. As of March 31, Odyssey held nearly 48% of Dayton Superior's common stock. www.daytonsuperior.com
LONDON (Reuters) – Lenders to UK chemicals group British Vita have agreed a debt for equity deal that will see its current owner TPG Capital and lenders inject extra cash into the company, a person close to the company said. More than 75 percent of creditors approved the deal at a meeting on Friday, the source […]