FRANKFURT, Oct 30 (Reuters) – German fashion house Hugo Boss (BOSG_p.DE: Quote, Profile, Research, Stock Buzz) slashed its 2008 forecasts on Thursday, citing a decline of retail sales in important regions, and reported a decrease in nine-month operating profit. Hugo Boss, which sells luxury clothes wear and accessories, lowered its forecast for full-year sales growth […]
SEOUL (Reuters) – South Korea’s National Pension Service (NPS) on Thursday said it had signed a preliminary agreement with private equity firm Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) to invest $2 billion each in the north Asian country. “Blackstone plans to invest in alternative asset categories such as infrastructure and real estate as […]
SAN FRANCISCO (Reuters) – ON Semiconductor Corp (ONNN.O: Quote, Profile, Research, Stock Buzz) has reached out to private equity for a cash infusion as it seeks alternatives to issuing debt to buy some Atmel Corp (ATML.O: Quote, Profile, Research, Stock Buzz) assets, people familiar with the matter said. TPG is one of the private equity […]
NEW YORK (Reuters) – A unit of private equity firm Apollo Management LP [APOLO.UL] has sued two banks that refused to finance its $6.5 billion leveraged buyout of chemical company Huntsman Corp (HUN.N). Apollo unit Hexion Specialty Chemicals sued Credit Suisse Group AG (CSGN.VX:) and Deutsche Bank AG (DBKGn.DE) on Wednesday in the Supreme Court […]
HarbourVest Partners has backed out of a signed agreement to acquire a large LP stake on the secondary market, peHUB has learned. The Boston-based firm is using a material adverse change (MAC) clause as one of its causes of action, having originally agreed to the transaction prior to the past month’s market volatility. Sources say […]
NEW YORK (Reuters) – Private equity firms, battered by the financial meltdown, are now thankful for deals that were cushioned with looser loan covenants and debt restructuring terms as they steer acquired companies through stormy seas. But while the new wriggle room allows temporary relief to PE-owned companies it isn’t clear whether the softer covenants […]
NEW YORK/DETROIT (Reuters) – General Motors Corp and Cerberus Capital Management have resolved the major issues in a proposed GM-Chrysler merger, but the final form of any deal would depend on the financing and government support available, sources familiar with the talks said on Wednesday. Both sides have agreed that GM Chief Executive Rick Wagoner […]
The Blackstone Group has completed its take-private acquisition of home healthcare services company Apria Healthcare Group Inc., for approximately $1.7 billion. Apria stockholders received $21 per share. www.blackstone.com
Loring Ward International Ltd. (TSX: LW) announced that its pending buyout by Werba Reinhard Inc. and Lovell Minnick Partners may not be completed, due to a decline in the company’s assets under management.
TORONTO (Reuters) – Borealis Infrastructure Management Inc said on Tuesday it will cut its takeover offer for Teranet Income Fund (TF_u.TO) by nearly 7 percent as market conditions have deteriorated and the cost of capital has risen. Borealis, an investment arm of the Ontario Municipal Employees Retirement System pension fund, said it will now offer […]