NewPage Group Inc., a Miamisburg, Ohio-based coated paper manufactuer, has filed for an $805 million IPO. It plans to trade on the NYSE under ticker symbol NWP, with Goldman Sachs serving as lead underwriter. The company was formed in 2005, when Cerberus Management bought the coated paper operations of MeadWestvaco Corp. Last year it […]
GodTube, a Christian online video sharing and social networking site, has raised $30 million in funding from hedge fund GLG Partners, according to PaidContent. The deal gives GodTube a $150 million valuation, and follows $2.5 million in seed funding from individuals like Norm Miller of Interstate Batteries. www.godtube.com
RIYADH, May 6 (Reuters) – Saudi Arabia said it is setting up a $5.33 billion investment firm that may be open to partners, and could initially focus investments in the technology sector. Finance Minister Ibrahim al-Assaf also urged countries' to keep their doors open to foreign investment. “What we are setting up is an investment […]
TAIPEI, May 6 (Reuters) – Private equity firm TPG Capital [TPG.UL] said on Tuesday it hopes to use Taiwan as a base to buy into Chinese firms, in what could be a model for others ahead of expected rule relaxations under a new president. Global private equity firms, including TPG, Newbridge [NB.UL] and Carlyle Group […]
LONDON (Reuters) – European buyout firm PAI closed its PAI Europe V fund at 5.4 billion euros ($8.3 billion), which it said made it the largest private equity fund ever raised in continental Europe. The fund will target European businesses with an enterprise value between 500 million euros and several billion in the sectors covered […]
ZURICH (Reuters) – UBS (UBSN.VX: Quote, Profile, Research) will cut 5,500 jobs in one the biggest purges seen so far in the financial markets crisis, as the Swiss wealth-management titan slashes at the investment bank that plunged it into turmoil. UBS also said it has a preliminary deal with U.S. asset manager BlackRock Inc (BLK.N: […]
NEW YORK, May 5 (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research) said on Monday it intends to cut about 5 percent of its staff this year, mostly in the United States but excluding its retail brokerage force. Morgan Stanley, which has slashed some 3,000 jobs since October, had 47,050 employees at the end of […]
iCrossing Inc., a Scottsdale, Ariz.-based digital marketing company, has raised $15 million in Series F funding, according to a regulatory filing. Most of the money is being used for working capital, although $1.4 million was for an acquisition. No details were disclosed, although iCrossing last month did buy German competitor 3GNet. No financial terms were […]
Iamba Networks, a Cupertino, Calif.-based provider of gigabit passive optical networking solutions, has raised $7 million in new VC funding. Return backers include Pitango Venture Capital, Cedar Fund, Giza Venture Fund and Kreos Capital. The company has now raised over $23 million since 2001. PRESS RELEASE iamba Networks, a leading provider of Gigabit […]
Miles Flint, former president of Sony Ericsson Mobile Communications, has joined Silver Lake Partners as a senior advisor. PRESS RELEASE Silver Lake, the leading private investor in technology, technology-enabled, and related growth industries, announced today that Miles Flint, former President of Sony Ericsson Mobile Communications, has become a senior advisor to the firm. […]