LONDON (Reuters) – A €970 million ($1.25 billion) loan backing the buyout of German building materials company Xella has been closed and signed as a club deal, banking sources said on Wednesday. Arranging banks provided the loan after wider syndication was cancelled due to adverse market conditions, the sources said. German conglomerate Haniel Group sold […]
It's true: Peter Kaufman is a managing director at Bacchus Capital Management, a wine-focused investment fund, and he doesn't really care for wine. He's "more of a beer and shot guy," he said at a conference earlier this year. I bring this up because Bacchus Capital announced its first investment today. The firm provided a mezzanine loan to Cameron Hughes Wine, a sourcer of super- and ultra-premium wine for stores like Sam's Club and Costco. You must be thinking, the words "premium" and Costco sure do not belong in the same sentence. Could that contradiction be a result of the Joe Six Packs on Bacchus Capital's deal team?
Cameron Hughes Wine has raised an undisclosed amount of mezzanine funding from Bacchus Capital Management, a San Francisco-based provider of mezza and equity capital to wineries and wine businesses.
Greatwide Logistics Services, a Dallas, Texas-based provider of third-party logistics, has filed for Chapter 11 bankruptcy protection. Investcorp and Hicks Holdings had acquired a majority stake in the company for $730 million in late 2006, with seller Fenway Partners retaining a minority position. In its bankruptcy filing, the company reported around $600 million in debt. Greatwide also announced a deal to be acquired by a group of its first-lien secured lenders, including affiliates of Centerbridge Capital Partners and D. E. Shaw.
Windjammer Capital Investors has made a $25 million follow-on investment in BBB Industries, a Mobile, Ala.–based supplier of remanufactured and new starters and alternators for the vehicle aftermarket. Windjammer had originally sponsored a recapitalization of BBB Industries in June 2007.
SINGAPORE/HONG KONG (Reuters) – Indonesian private equity firm Northstar Pacific and U.S. hedge fund Farallon Capital are among investment firms interested in a stake in Indonesia’s top coal miner Bumi Resources (BUMI.JK: Quote, Profile, Research, Stock Buzz), according to sources close to the matter, a deal that may be worth over $1.5 billion. Bakrie & […]
MELBOURNE, Oct 22 (Reuters) – Asciano Ltd (AIO.AX: Quote, Profile, Research, Stock Buzz), Australia’s biggest port and rail operator, said a private equity consortium led by TPG may seek further discussions with the company after being rebuffed on a A$2.9 billion ($1.9 billion) approach earlier this year. Asciano is trying to sell assets to help […]
TOKYO (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) is proposing to buy about 20 percent of Chrysler and bring the troubled U.S. automaker into the Franco-Japanese alliance with Renault SA (RENA.PA: Quote, Profile, Research, Stock Buzz), the Detroit News reported on Wednesday, citing sources familiar with the situation. The offer is […]
NEW YORK (Reuters) – General Motors (GM.N: Quote, Profile, Research, Stock Buzz) is looking for a large investment from outside investors as a possible alternative to a deal with Chrysler LLC, the Financial Times reported on its website on Tuesday. The hoped for capital injection would be similar to recent investments by billionaire investor Warren […]
MTS Health Investors has acquired DNA Diagnostics Center Inc., a Fairfield, Ohio-based DNA testing lab. No financial terms were disclosed. The seller was company founder Richard Lee.