NEW YORK (Reuters) – Assured Guaranty Ltd (AGO.N) shares have been hammered amid the credit crunch, but underwriting business at the bond insurer was “very good” at the end of last year, billionaire investor and Assured director Wilbur Ross told Reuters on Friday. Despite Moody’s Investors Service cutting Assured’s credit rating to double-A last month, […]
LONDON (Reuters) – Debt-laden UK food group Premier Foods (PFD.L) said on Sunday it had received a 50-million-euro ($66 million)offer from two private equity funds for its French frozen patisserie business, Martine Specialites SAS. Premier Foods said it considered the offer from Cerea Capital and Banexi Capital to be acceptable and had started consultation with […]
LONDON (Reuters) – Private equity firm CVC Capital Partners is drawing up plans to take a stake in Britain’s state-owned postal operator Royal Mail, the Sunday Telegraph said, without citing sources. A spokeswoman for CVC declined to comment. British business minister Peter Mandelson said in December the Royal Mail should be part-privatised to improve its […]
It's been expected for months, even years now, but it finally happened today. The Star-Tribune filed for Chapter 11. The company has been a bruise on Avista Capital’s portfolio almost since firm plunked down $530 million for it two years ago. peHUB has covered the development, or rather, deterioration, of the investment pretty extensively here, here, here and here. For non-subscribers, the gist of the coverage is that the deal was both a failed investment thesis and foolish capital structure. Avista entered
Edmonds Capital, a buyout firm located in Arlington, Va., purchased two restaurant chains from franchiser Raving Brands: Shane’s Rib Shack and Planet Smoothie. No deal terms were disclosed. Raving Brands, global multi-concept franchisor, today announces the sale of Shane’s Rib Shack, a national rib shack and barbecue concept founded by Shane Thompson in 2002, and […]
Main Street Capital, a buyout firm based in Houston, Texas, has purchased trucking company Smokey Point Distributing alongside Dallas investor Don R. Daseke and Smokey Point CEO Dan Wrikkala, for $34 million. Allegiance Capital advised the sell side. Allegiance Capital Corporation, a full-service investment banking firm servicing middle market companies worldwide, announces the sale of […]
(Reuters) – Private-equity firm Golden Gate Capital has emerged as one of three bidders in the auction for retailer Circuit City Stores Inc, which filed for bankruptcy protection in November, the Wall Street Journal reported. The San Francisco-based firm has made a bid for the entire company but has requested 30 days to analyze the […]
The company is backed by Versa Capital Management. (Reuters) – The parent of the Black Angus Steakhouse restaurant chain filed for Chapter 11 bankruptcy on Thursday, the latest in a fast-growing list of business bankruptcies caused by the troubled economy and lower consumer spending. Pecus ARG Holding Inc, based in Los Altos, California, filed for […]
* Bain Capital also weighing joining joint bid – source * HeidelbergCement shares rise 8.5 pct, topping MDAX gainers By Philipp Halstrick (Reuters) – U.S. private equity firm TPG is considering taking a stake in HeidelbergCement jointly with Goldman Sachs sources familiar with the matter said on Friday, confirming an earlier report. One of the […]
NEW YORK, Jan 15 (Reuters) – The Minneapolis Star Tribune, the 15th-largest daily U.S. paper based on circulation, filed for bankruptcy on Thursday, one of the biggest U.S. newspapers yet to financially flame out under a heavy debt load and a punishing decline in advertising revenue. The paper, which McClatchy Co (MNI.N) sold to private […]