NEW YORK (Reuters) – Hexion Specialty Chemicals said on Monday it received additional funding commitments to support its buyout of rival Huntsman Corp (HUN.N: Quote, Profile, Research, Stock Buzz), saying it is moving expeditiously to close the deal. The deal has teetered on collapse for months, after Hexion and its parent Apollo Management filed suit […]
TORONTO (Reuters) – BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz)(BCE.N: Quote, Profile, Research, Stock Buzz), Canada’s biggest telecommunications company, reiterated on Monday that it still expects a C$34.8 billion ($27.2 billion) buyout to make the company private will close in December, suggesting the deal isn’t facing delays because of market turmoil. In brushing aside […]
NEW YORK (Reuters) – Value City Department Stores has filed for Chapter 11 bankruptcy and will liquidate its remaining 66 stores, citing a slide in consumer spending and tougher credit markets. An economic downturn, higher gasoline prices and increasing unemployment have decimated the discount department store chain’s core market, according to documents filed with a […]
Boot Barn Holding Corp., a portfolio company of Marwit Capital, has completed its acquisition of 22 retail stores in Arizona, New Mexico and Nevada from BTWW Retail LP. No financial terms were disclosed. The stores will rebrand to Boot Barn after the holiday season.
Summer Street Capital Partners has acquired Tulsa Welding School, the nation’s largest accredited private welding school. No financial terms were disclosed, except that HSBC Capital and company management also provided equity for the transaction.
Austin Ventures has committed up to $75 million in equity capital for the formation of Avron Partners Inc., an acquisition platform focused on the supply chain services market. The effort will be led by Ronald Sorrow, former CEO of both RoadLink USA and CSX Intermodal.
EDP Investment Holdings, an acquisition platform focused on the hospital-based physician staffing and management sector, has acquired EDCare Management Inc., a Fort Lauderdale, Fla.-based provider of emergency department and hospitalist staffing and management services. No financial terms were disclosed. EDP is sponsored by Beecken Petty O’Keefe & Co.
Goldman Sachs has purchased an undisclosed equity stake in Blue Source LLC, a Salt Lake City–based aggregator of greenhouse gas emission reduction offsets, as part of a larger strategic partnership. First Reserve Corp. acquired a 50% stake in Blue Source back in 2006, and Och-Ziff Capital Management has also invested.
Boscov’s Department Store LLC has extended the bankruptcy court-supervised sale process of its assets, with a hearing now scheduled for November 5. Earlier this month, the company agreed to sell substantially all its assets to Versa Capital Management.
The infrastructure fund of Citigroup and the Vancouver Airports Authority are planning a joint £2 billion (US$3.2bn) bid for Gatwick Airport, The Sunday Times reported without citing sources. Operator BAA put the London airport up for sale after Britain’s Competition Commission said in a provisional ruling in August that the unit of Spain’s Ferrovial must sell […]