STOCKHOLM, Nov 3 (Reuters) – Ivytan AB, owned by private equity firm EQT and Lyftet Holding, said on Monday it was making an offer for Q-Med (QMED.ST: Quote, Profile, Research, Stock Buzz) in a bid which valued the Swedish biotech firm at about 3.9 billion Swedish crowns ($502 million). The 39 crown per share cash […]
KUALA LUMPUR, Nov 3 (Reuters) – U.S. private equity firm Texas Pacific Group Capital [TPG.UL] will invest up to $150 million in Malaysia’s Bumiputra-Commerce Holdings Bhd (BCHB), the listed vehicle of CIMB Group, the Malaysian group said on Monday. TPG will make the investment through BCHB’s Labuan subsidiary CIMB Bank (L) Ltd, by subscribing to […]
NEW YORK (Reuters) – Stephen Girsky, a veteran auto-industry analyst and private equity executive, is working with the United Auto Workers union with regards to any potential General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) and Chrysler LLC deal, a source familiar with the situation said on Sunday. Girsky is president of Centerbridge Industrial […]
JAKARTA (Reuters) – Indonesia’s Bakrie & Brothers Tbk (BNBR.JK: Quote, Profile, Research, Stock Buzz) said on Saturday it has agreed to sell a 35 percent stake in coal miner Bumi Resources (BUMI.JK: Quote, Profile, Research, Stock Buzz) for $1.3 billion to investment group Northstar. Jakarta-listed Bakrie & Brothers, a holding company with interests in energy, […]
NEW YORK (Reuters) – A New York judge denied a bid by Apollo Management LP’s Hexion Specialty Chemicals unit on Friday to extend a commitment by two banks to fund its proposed $6.5 billion buyout of chemicals firm Huntsman Corp (HUN.N). The ruling by New York State Supreme Court Judge Eileen Bransten means that a […]
LONDON (Reuters) – Private equity firm Charterhouse Capital plans to sell UK chemicals company Lucite International, investors said on Friday after a briefing from the firm late the previous day. Charterhouse told the briefing it had reached an agreement to sell Lucite to a Japanese trade buyer, investors said. The buyer is chemicals, fibres and […]
Is private equity the next financial shoe to drop? That’s the question answered affirmatively by Doug Kass over at TheStreet.com, and then seconded by Jim Cramer (vid after jump). None of what Kass argues should be terribly surprising to readers of this space, but the very existence of his argument may portend a revival of private equity as public whipping boy. It might have to wait its turn behind the credit card companies and hedge fund managers, but there certainly would be plenty of thong and cracker left for the onetime kings of capitalism. The Kass case is basically that private equity firms binged on leverage, and that the repercussions will be devastating both for the firms and for their investors. That latter class is particularly vulnerable, Kass says, because illiquid private equity investments “will result in a crowding out of inflows into other alternative strategies.” Kind of the denominator effect’s flipside. Kass doesn’t explicitly say it, but he hints that LP troubles would have a trickle-down effect to the economy at large, because so many of them are
Fortress Investment Group and Quicken Loans Inc. have entered into an exclusive joint venture, to “help Fortress implement a comprehensive refinancing and loan modification strategy for its mortgage portfolio and investments.”
Graham Capital Group of Seattle has acquired LaFarge and Egge Inc., a Lynnwood, Wash.-based aerospace parts supplier. No financial terms were disclosed. The news was first reported by the Puget Sound Business Journal. www.lafargeinc.com
Paradigm Precision, a Phoenix-based portfolio company of American Capital, has acquired TM Industries Inc., a maker of machined components for the aerospace, power generation, oil and gas and defense industries. No financial terms were disclosed.