Confie Seguros, an acquisition platform focused on insurance brokerages, has acquired San Antonio-based auto insurance brokerage Alamo Auto Insurance. No financial terms were disclosed. Confie Seguros was formed earlier this year by Genstar Capital.
EQT Partners has opened a new office in Warsaw. It will be led by new partner Piotr Czapski, who previously was on the board of Polish telecom operator Netsia SA and, before that, led McKinsey & Co.’s business tech practice in Eastern Europe.
NEW DELHI (Reuters) – India’s cabinet on Thursday approved private equity Providence Equity Partners’ $640 million purchase of 20 percent in Aditya Birla Telecom Ltd (ABTL), a unit of fifth-largest mobile operator Idea Cellular (IDEA.BO). ABTL owns telecom licences in the eastern states of Jharkhand and Bihar. The cabinet also approved Idea’s plan to transfer […]
BEIJING (Reuters) – A private equity unit of General Electric (GE.N) said on Thursday that it would focus on its existing investment portfolio in China rather than investing in new projects over the next 2-3 years amid poor market conditions. Zhu Wenqian, head of private equity and business development, Greater China at GE Commercial Finance, […]
Wohler Technologies Inc., a Hayward, Calif.-based provider of in-rack audio and video monitoring solutions, has acquired Europa Australia, a provider of high-end solutions to the broadcast industry. No financial terms were disclosed. Wohler Technologies is a portfolio company of Hanover Partners.
Pantheon, a private equity fund-of-funds, reckons private equity groups should tap into changes in the pension fund industry. The days of defined pensions are steadily coming to an end with almost no new policies of this type issued now. Pensions are now based on performance models. “The pensions industry is a good source of funding […]
Chevron Mining Inc. has completed the sale of its Mountain Pass rare earth mining operations to an acquisition company formed by Pegasus Partners, Goldman Sachs, Traxys North America and Carint Group. No financial terms were disclosed. The Englewood, Colo.-based company has be renamed Molycorp Minerals LLC.
DUBAI/KARACHI (Reuters) – Private equity firm Abraaj Capital has bought a controlling stake in KES Power, the parent company of Karachi Electric Supply Co (KESC.KA), to boost generating capacity in Pakistan’s largest city. Dubai-based Abraaj, which manages about $5 billion in funds, said in a statement on Wednesday it was buying new shares in KES […]
MACAU (Reuters) – U.S. private equity giant Blackstone Group said on Wednesday that it still aims to complete a pair of property deals in Shanghai, although a company official said valuations in China need to come down and regulations should be friendlier to foreign investors. “The challenge is that pricing is inflated generally beyond expectations […]
LONDON (Reuters) – Troubled Icelandic retail investor Baugur has attracted interest from a number of private equity firms seeking to buy its 1 billion pound ($1.75 billion) debt-pile, The Financial Times said on Wednesday. The Icelandic government, already in talks with British retail entrepreneur Philip Green about selling the debt, has received approaches from private […]