SunPower Corp. (Nasdaq: SPWRA) has agreed to acquire SunRay Renewable Energy, a Malta-based developer of European solar energy projects. The deal is valued at approximately $277 million, including $235 million in cash and $42 million in a letter of credit and promissory notes. Last year, SunRay received a $200 million equity commitment from Denham Capital Management.
NEW YORK (Reuters) – Private equity-backed generator company Generac Holdings Inc (GNRC.N) priced shares in its initial public offering below the expected range and sold fewer shares than anticipated on Wednesday, according to an underwriter. The Wisconsin-based company sold 18.75 million shares for $13 each, raising about $243.8 million. It had planned to sell 20.3 […]
NEW YORK (Reuters) – Blackstone-controlled plastic container maker Graham Packaging Co Inc (GRM.N) priced shares in its initial public offering at the low end of the expected range on Wednesday, according to an underwriter. York, Pennsylvania-based Graham Packaging sold 16.7 million shares for $10 each, raising about $167 million after reworking the deal to be […]
(Reuters) – U.S. private equity firm Blackstone Group (BX.N) will reopen its office in Germany this fall, thereby gaining a foothold in Europe Union’s biggest economy, the Wall Street Journal said. The company has hired Axel Herberg, the chief executive of German packaging company Gerresheimer AG, to set up the Dusseldorf office, the paper said. […]
FRANKFURT (Reuters) – German conglomerate Evonik is amenable to financial investors as it looks to sell a minority stake in its energy division, chief executive Klaus Engel said in a newspaper interview on Thursday. “We are open to any attractive partner. Anyone with a good business concept and and sound finances is attractive,” the CEO […]
BERLIN(Reuters) – Large banks will likely pare back their private equity-related operations in anticipation of the so-called “Volcker rule”, despite it being unclear if it will be adopted, the co-founder of Carlyle Group said on Wednesday. U.S. President Barack Obama’s plan, inspired by White House economics adviser Paul Volcker, includes proposals that banks or financial […]
PARIS/AMSTERDAM (Reuters) – French power company EDF (EDF.PA) said it was pressing on with the next stage of a potential sale of its British distribution arm, ending speculation that management changes had blocked the process. An EDF spokeswoman said on Wednesday details had been sent to potential buyers, confirming what two sources familiar with the […]
LONDON/FRANKFURT (Reuters) - British mobile phone giant Vodafone (VOD.L) has decided against bidding for Germany's largest cable televison operator Kabel Deutschland, leaving a cluster of private equity firms in the driving seat. "We reject media reports along these lines," a spokesman for Vodafone Germany said when asked if Vodafone was bidding. Reuters reported this week that private equity firms including Advent, BC Partners and Carlyle were set to submit offers and could team up because of the amount of equity that would be needed to launch a credible bid.
NEW YORK (Reuters) – Penton Business Media Holdings Inc, a publisher of 113 trade magazines such as Ward’s AutoWorld, Restaurant Hospitality and National Hog Farmer, has filed for bankruptcy protection as part of a restructuring intended to eliminate $270 million of debt. Wednesday’s filing came after Penton, like many other publishers, struggled with a decline […]
LONDON (Reuters) – British budget fashion retailer Matalan has abandoned a process that could have seen founder and owner John Hargreaves sell the business. Matalan said in a statement it had closed down the potential sale process for the business, without giving a reason. However, a source close to the sale discussions said offers that […]