Japanese property firm Daito Trust Construction Co shelved a planned buyout that could have exceeded US$6bn, after the funds behind the deal failed to raise enough money amid the global credit crunch. Reuters had reported on Monday that Daito was unlikely to go private this year after Mizuho Corporate Bank had decided not to lend […]
Tandberg, a US$2bn Norwegian video conferencing business, has announced that discussions with a potential private equity bidder have been terminated. The talks regarding a potential stake purchase or even takeover bid ended as it has “become impossible to achieve acceptable pricing and financing conditions” in the current economic climate, Tandgerg said in a statement. In […]
Seaport Capital has led an acquisition of American Internet Services Inc., a San Diego-based provider of data center co-location services. Also participating were Viridian Investment Partners and DuPont Capital Management. No financial terms were disclosed.
High Road Capital Partners has acquired All Current Electrical Sales Inc., a wholesale reseller of electrical parts and components used in heavy duty industrial, infrastructure and energy applications. No pricing terms were disclosed. Debt financing was provided by US Bank, PNC Bank and Babson Capital Management.
NEW YORK (Reuters) – Sprint Nextel Corp (S.N), which has been considering a sale of its Nextel unit, has received interest from Latin American service provider NII Holdings Inc (NIHD.O) and private equity firms, according to a report on the Wall Street Journal website. But the story, which cited unnamed people familiar with the situation, […]
WASHINGTON (Reuters) – TPG-Axon Capital Management reported on Thursday it owns a 3.86 percent stake, or about 81 million shares, in the common stock of regional bank National City Corp (NCC.N). The hedge fund said in a regulatory filing that it had owned more than 5 percent of the troubled bank’s outstanding shares as of […]
SunGard Data Systems Inc. has completed its $585.3 million acquisition of a majority interest in trading software company GL Trade (Paris: GLT). SunGard was acquired for $11.4 billion in 2005 by Bain Capital, Blackstone Group, GS Capital Partners, KKR, Providence Equity Partners, Silver Lake Partners and TPG Capital.
Infineon Technologies AG has sold its bulk acoustic wave business to Avago Technologies, a portfolio company of KKR and Silver Lake Partners. The deal is valued at approximately €21.5 million. Avago is currently in registration for a $400 million IPO.
Elm Creek Partners has agreed to acquire FreeFlight Systems Ltd., a Waco, Texas–based provider of navigation systems for commercial and military aircraft. No financial terms were disclosed.
The Star Tribune Co. this week missed $9 million in debt payments, which were a quarterly installment of second-lien and senior loans. The newspaper publisher originally went into default nearly four months ago, and raises new worries that it may declare bankruptcy. Avista Capital Partners bought the company last year for $530 million. www.startribunecompany.com