PHILADELPHIA (Reuters) – Cerberus Capital Management, which owns 80 percent of Chrysler, has no plans to divest its stake in Chrysler and aims to own an interest in any combined company that may result from a merger with the U.S. automaker, a source familiar with Cerberus’ thinking said on Monday. Cerberus had held talks about […]
DUBAI, Oct 14 (Reuters) – Blackstone Group (BX.N) chief executive Stephen Schwarzman said on Tuesday that action by the U.S. government to inject cash into its banks, alongside other dramatic moves around the world, could break the back of the credit crisis. “We will be looking today to an absolute sea change in the global […]
Marlin Equity Partners has acquired the assets of Furitechnics Group, a Commerce, Calif.-based developer of houseware products for professional and home chefs, like the Rachael Ray branded line of cutlery. No financial terms were disclosed. Marlin has renamed the company Furi Brands Inc. www.marlinequity.com
DETROIT (Reuters) – Chrysler LLC Chief Executive Bob Nardelli said on Monday the automaker is talking with “third parties” interested in exploring tie-ups as it seeks to leverage its assets amid a global credit crunch. Nardelli declined to specifically confirm news reports that Chrysler has had talks with General Motors Corp about a deal to […]
DUBAI (Reuters) – Private equity bosses expect the financial crisis to get worse before it gets better, with soaring borrowing costs and stress in their portfolio companies the big concerns. The credit crisis and turmoil of the past week have been the latest piece of bad news for a private equity sector already hit hard […]
MUMBAI (Reuters) – The value of private equity deals in India fell 28 percent in September as the size of transactions shrunk because of the global markets turmoil, an independent industry tracking firm said on Monday. Private equity firms struck 116 deals worth $3 billion in July to September, compared with 115 deals worth $4.2 […]
Huntsman Gay Global Capital has bought Turner Bros. Holdings LLC from Saw Mill Capital for an undisclosed amount. Turner is a Houston, Texas-bhased provider of lifting and transportation solutions to the U.S. industrial and energy markets. Edgeview Partners managed the sale process.
Sichuan Zhiquan Special Cement, a Chinese cement maker, has raised $40 million in convertible preferred stock financing co-led by Merrill Lynch and Lunar Capital Management. Eos Asia Investments served as placement agent, and “is preparing the company for a possible overseas IPO in 2010.”
HONG KONG (Reuters) – Hong Kong telecommunications company PCCW (0008.HK) said on Sunday it has ended the sale of a stake in its new HKT unit, citing the market upheaval. The auction for HKT, a business estimated to be worth more than $3 billion which had attracted several private equity bidders, is the second major […]
LONDON (Reuters) – Premier Foods (PFD.L), Britain’s biggest food manufacturer, is in talks with private equity firm CCMP Capital about a major cash injection, the Sunday Telegraph reported. Premier Foods, which saw its shares fall in August over renewed concerns about debt levels, makes Hovis bread, Mr Kipling cakes, Branston pickle and Oxo cubes. The […]