MILAN/PARIS (Reuters) – Italy’s Fiat took a 35 percent stake in Chrysler, launching a venture designed to secure the beleaguered U.S. carmaker’s future, as France asked its auto industry to commit to output targets in exchange for aid. Chrysler said on Tuesday the deal, which involves no cash investment, formed a key component of plans […]
JAKARTA/SINGAPORE (Reuters) – Indonesia’s Bakrie group appears to have links to one of the funds involved in its $1.2 billion debt restructuring last month, reigniting questions about disclosure and corporate governance in one of Asia’s most corrupt economies. The Bakrie group owns stakes in plantations, coal, telecoms and property firms and is controlled by the […]
HONG KONG (Reuters) – Mongolia’s government will soon hire an investment bank to sell part of a massive coal mine valued at around $2 billion in a historic deal that could bring a windfall to the sleepy country of windswept grasslands. While some mining companies may be starving for access to such a large deposit, […]
HONG KONG/MUMBAI (Reuters) – Blackstone Group (BX.N) has invested more than $730 million in India since arriving three years ago, only to see much of it wiped out by the country’s weakening economy and stock market plunge. Blackstone’s tough start in India is a cautionary tale to other Western private equity firms such as Kohlberg […]
TURIN, Italy (Reuters) – Fiat (FIA.MI) is talking with Chrysler LLC about giving it access to its technology in exchange for a stake in the U.S. car maker, a source close to the Italian group said on Monday. “Between the two groups there is talk about Chrysler possibly using Fiat technology in exchange for a […]
HELSINKI (Reuters) – Britain-based buyout firm Bridgepoint launched a 162 million euro ($215.5 million) approved takeover bid on Monday for Finland’s Terveystalo Healthcare Oyj (SUT1V.HE). Bridgepoint said it was offering 2 euros per share in cash for healthcare provider Terveystalo, a premium of 203 percent on the firm’s closing price on Friday. Terveystalo shares soared […]
American Hardwood Industries Inc., a portfolio company of H.I.G. Capital, has defaulted on an interest payment to Fifth Street Finance Corp., according to a Fifth Street filing with the SEC. www.rossiwood.com
Golden Gate Capital has entered into a partnership agreement with Kevin O’Meara, former president and COO of Builders FirstSource Inc., to explore strategic investments in the building products industry. No financial terms were disclosed for the effort, which will focus on opportunities in the manufacturing sector.
Turkish airport operator TAV is planning to sell a 30% stake in Havas its ground-handling subsidiary to help it pay off debts which fall in 2009. A strategic partner will be sought to buy the stake in Havas in a deal expected to value the subsidiary at between €275m to €350m, reports the Financial Times. […]
NEW YORK (Reuters) – Hell may yet freeze over again in a second wave of the global credit crisis. Despite some evidence of a bank lending thaw, some analysts worry that the fragile recovery in credit markets is based almost entirely on gargantuan central bank liquidity programs and government bailouts which have yet to be […]