NEW YORK (Reuters) – CIT Group (CIT.N) is likely to file for bankruptcy in the coming days, analysts and experts said. The lender to small and medium-sized businesses is trying to restructure its debt, and is offering investors two options. One path would be getting its unsecured debt holders — who hold a total of […]
LONDON (Reuters) – The administrators of First Quench Retailing have cut 81 head-office jobs at the owner of British off-licence chains Threshers and Wine Rack and expects to make more redundancies as they look for a buyer. “Trading in the off-licence sector has become increasingly competitive in recent years, with the recession proving too much […]
TORONTO, Oct 29 (Reuters) – Cossette Inc (KOS.TO), Canada’s largest homegrown advertising agency, on Thursday urged shareholders to wait until its board reviewed a sweetened takeover offer from a North American private equity group before tendering their stock. Cosmos Capital Inc, made up of U.S. and Canadian investors, late Wednesday said it would make a […]
CHICAGO/NEW YORK (Reuters) – Shares of private equity firm Blackstone Group (BX.N) rose 7.5 percent on Thursday, which options analysts attributed to expectation of positive earnings when the firm reports on Friday, Nov. 6. Shares rose to $13.87. Still, that is less than recent highs above $17 and the price remains far below the summer […]
WINNIPEG, Manitoba (Reuters) – Seamark Asset Management Ltd (SM.TO) and Growthworks Ltd have agreed to merge and form a mid-sized diversified asset management company, Seamark Chief Executive Brent Barrie said on Thursday. The new company will be called Matrix Asset Management Inc, headed by current Growthworks President and CEO David Levi. Under the agreement, […]
LONDON (Reuters) – Hedge fund Och-Ziff (OZM.N) has emerged as the buyer of TPG’s [TPG.UL] stake in British department store chain Debenhams PLC (DEB.L) after the U.S. buyout firm made its exit from the business earlier this week. Och-Ziff, one of the world’s largest hedge fund managers, said in a regulatory filing on Thursday it […]
Collection Associates LLC, a portfolio company of LaSalle Capital Group, has acquired Money Recovery Nationwide, a Landsing, Mich.-based provider of debt collection services to the healthcare industry. No financial terms were disclosed.
NEW YORK (Reuters) – The drawn-out sale of Bank of America’s (BAC.N) $1 billion wealth management business ultimately came down to how much protection against any unforeseen losses bidders demanded, rather than price. The fact that asset quality was a key issue in the First Republic auction shows just how concerned many investors still are […]
Black Opal Equity has launched as a Jersey City, N.J.-based private equity firm focused on U.S. middle-market businesses in the infrastructure, essential service and government sectors. Managing partner Matthew Day previously focused on infrastructure and essential services investments with Macquarie.
ComVest Group has been completed its $81 million acquisition of Cynergy Data LLC, a payments processor that filed for Chapter 11 bankruptcy protection earlier this fall.