Potential bidders for troubled UK retailer Woolworths have voiced significant concerns about a sale of the company’s brand and part of its retail and distribution business reaching a conclusion, at least in 2008. A source told The Financial Times that the complexity of the Woolworths group’s leases and restocking of stores have made a deal […]
Bain Capital, a US-based private equity fund, is leading the chase for Reed Business International, a unit of publisher Reed Elsevier that houses titles such as New Scientist, Variety and Estates Gazette. According to reports, Bain Capital is favourite to win RBI, which has an expected value of approximately US$1bn, although Reed Elsevier management is […]
Terra Firma Capital Partners may need to inject further cash into UK music group EMI, which it took private in a €6.2bn (US$8bn) transaction in 2007, in order to avoid defaulting on a loan from Citigroup. The Wall Street Journal reported that Terra Firma put £10m into EMI three months ago to avoid defaulting on […]
Senior Care Centers of America, a portfolio company of Clearview Capital, has acquired Crozer Adult Day Health Center, which provides care to elderly and disabled adults on the campus of the Crozer-Chester Medical Center in Chester, Pennsylvania. No financial terms were disclosed.
Wayzata Investment Partners has acquired a majority stake in Portola Packaging Inc., a Batavia, Ill.-based provider of packaging solutions. The deal helps bring Portola out of Chapter 11 bankruptcy, and includes a senior loan facility from Wells Fargo Foothill.
Maxum Petroleum Holdings Inc., an Old Greenwich, Conn.-based energy logistics company, has secured a $300 million private equity commitment from Metalmark Capital and Waud Capital Partners. The company had been formed in October 2003 as an acquisition platform sponsored by Waud, Northwest Capital Appreciation and RBC Capital Partners. Northwest and RBC will retain an equity interest. No word yet if this deal will result in Maxum withdrawing its IPO registration. The company’s most recent filing indicated plans to sell 16.7 million shares at between $14 and $16 per share, with Credit Suisse, Bear Stearns and UBS serving as co-lead underwriters.
We’re heading into the home stretch of 2008. The next three weeks of holiday sales may make or break many of the LBO-backed retail and consumer products companies teetering on the edge of default. Either way, Cerberus aside, we won’t likely see a slew of bankruptcies till those holiday results are booked in the new […]
HONG KONG (Reuters) – Private equity and venture capital investors on Monday called on China to set clear and stable rules for investments in a country where it has become notoriously difficult to complete a deal. While Beijing is eager to lure foreign capital to support small- and medium-sized enterprises hungry for funding as bank […]
DETROIT (Reuters) – The United Auto Workers is open to moves by Chrysler LLC to seek an alliance with a rival automaker provided that it preserves as many jobs as possible, a senior union official said on Sunday. General Holiefield, a UAW vice president who oversees the union’s relations with Chrysler, also said UAW workers […]
Months after defaulting on its massive debt load, Avista Capital’s troubled newspaper investment continues to create negative headlines. The private equity firm’s latest attempt to save its investment in Star Tribune is an ultimatum to the paper’s union: Cough up $20 million in employee givebacks, or else this ship is goin down. And by down […]