Reuters: Private Equity: China's SMIC buying Hiroshima DRAM plant an option for Elpida -Nikkei

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

China's SMIC buying Hiroshima DRAM plant an option for Elpida -Nikkei May 1st 2012, 05:45 Tue May 1, 2012 1:45am EDT * Hony may sell Hiroshima ops to SMIC if Elpida bid a success -Nikkei * SK hynix, Toshiba, GlobalFoundries, joint plan possible -Nikkei * 2nd-round bids for Elpida due late this week TOKYO, May 1 (Reuters) - China's Hony Capital plans to sell or outsource the operations at Elpida Memory's Hiroshima DRAM plant to Semiconductor Manufacturing International Corp (SMIC) if its bid for the bankrupt Japanese chipmaker is successful, the Nikkei business daily said on Tuesday. The scenario involving Hony, which is bidding along with fellow private equity firm TPG Capital, and China's top chipmaker, was drawn up by the Chinese government, the Nikkei said citing a banking source, and is one of a few being mentioned surrounding the takeover of Elpida. Chipmakers such as U.S.-based Micron Technology, Japan's Toshiba Corp and South Korea's SK hynix , have all been linked to the auction for the world's third-largest maker of dynamic random access memory (DRAM) chips, in which second-round bids are due late this week. Hony's parent, Legend Holdings, is also the top shareholder in Lenovo Group, which relies on DRAM chips from Elpida and Samsung Electronics for its computers and smartphones, the Nikkei wrote. But price disputes with Samsung have led Lenovo to increase its dependence on Elpida for supply, causing Lenovo worries about chip supplies if Elpida fell into the hands of others, the Japanese paper added. Representatives of Hony Capital were not available to comment on Tuesday, a May 1 holiday in many Asian countries. Another plan under discussion involved a joint bid for Elpida, with SK hynix getting Elpida's main technology, Toshiba taking its Taiwan factory and U.S.-based GlobalFoundries receiving the Hiroshima plant, the Nikkei said. Last week, a source close to Toshiba told Reuters the Japanese company would not participate in the second round of bidding after talks stalled on a joint bid with potential partners including SK hynix, but did not rule out joining up with the eventual winner of Elpida. On Thursday, SK hynix said it is still reviewing the books of Elpida for a possible bid. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: India's UB Holdings in talks with Blackstone, KKR to sell office space-paper

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

India's UB Holdings in talks with Blackstone, KKR to sell office space-paper May 1st 2012, 05:38 Tue May 1, 2012 1:38am EDT May 1 (Reuters) - India's UB Holdings is in talks with private equity funds Blackstone and Kohlberg Kravis Roberts to sell some of its commercial real estate for 6.5 billion rupees ($123 million), the Times of India newspaper reported on Tuesday citing unnamed banking sources. UB Holdings, controlled by flamboyant liquor baron Vijay Mallya, is part of the UB Group that owns majority of United Spirits and United Breweries, apart from debt-laden carrier Kingfisher Airlines, which is desperately looking for funds to continue operations. The UB Tower in Bangalore, which Mallya is looking to sell, is occupied by companies like Apple, Citibank, and Yahoo, the report said. A UB Group spokesman, quoting Mallya, denied the company was in talks to sell the real estate space, the paper reported. Prakash Mirpuri, a UB spokesman, told Reuters there was no plan to sell UB Towers. He, however, could not immediately confirm whether other real estate assets from UB Holdings were up for sale. A Blackstone spokesman declined to comment, while KKR could not be immediately reached by Reuters on Tuesday, which is a local holiday in India. UB Holdings and the private equity players are considering a sale-and-lease-back model, with UB having the right to buy the property back after a specified period, the report said. For the newspaper story, please see: link.reuters.com/ruw87s ($1 = 52.70 Indian rupees) (Reporting by Anurag Kotoky in NEW DELHI; editing by Malini Menon) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 1-Maple extends bid for Canada's TMX Group; to buy Alpha

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Maple extends bid for Canada's TMX Group; to buy Alpha Apr 30th 2012, 21:28 Mon Apr 30, 2012 5:28pm EDT TORONTO, April 30 (Reuters) - Maple Group, the consortium of Canadian financial institutions bidding to buy the operator of the Toronto Stock Exchange, extended its C$3.8 billion ($3.85 billion) offer for a seventh time on Monday. Extending its bid for TMX Group to May 31, Maple also said it had agreed to buy Alpha Trading Systems, Canada's second biggest stock trading venue, and the Canadian Depository System for Securities clearing system. TMX also runs the TSX Venture Exchange and the Montreal Exchanges for derivatives. The buyers are waiting for several provincial regulatory bodies and the federal Competition Bureau to sign off on the deal before it can go ahead. Maple, whose 13 members include most of Canada's biggest banks as well as pension funds, a giant insurer and other financial groups, has always said it wants to combine TMX with bank-owned Alpha. It also wants to wrap in the CDS, the clearing system for trades. Critics have argued that the deal would concentrate too much power in the hands of a single player, creating a near monopoly of stock market trading and clearing operations, and TMX shares have consistently traded below Maple's C$50 a share offer. TMX shares closed up 40 Canadian cents, or 0.9 percent, at C$45.10 on the Toronto Stock Exchange on Monday. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 3-Allscripts shareholder demands CEO resignation

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 3-Allscripts shareholder demands CEO resignation Apr 30th 2012, 18:37 Mon Apr 30, 2012 2:37pm EDT * Healthcor Management demands CEO Tullman's resignation * Allscripts names Dennis Chookaszian chairman * Co expands stock repurchase program to $400 mln * Shares up 7 pct April 30 (Reuters) - One of Allscripts Healthcare Solutions Inc's largest shareholders demanded that its chief executive Glen Tullman resign, hours after the company named a new chairman as part of a major management overhaul. The fund, HealthCor Management LP, which owns about 5 percent of Allscripts's outstanding shares, cited problems with execution and leadership at the company for what it called the stock's underperformance compared with its peers. CEO Tullman, who led Allscripts through its initial public offering, has been with the company for the last 15 years, during which its size has doubled, according to Allscripts' website. "We believe the value of this company is significantly higher than the current public valuation," the private equity fund said in a regulatory filing. Speaking in the context of other acquisitions in the healthcare IT space, the fund said Allscripts' shares are "being valued well below any reasonable acquisition price" at its Friday close of $10.30. Earlier in the day, Allscripts appointed Dennis Chookaszian as chairman, replacing Phil Pead, whose contract was terminated last week prompting three other directors to resign. The management shakeup, announced along with a weak full-year profit forecast on Thursday, also included the resignation of chief financial officer Bill Davis. Citi Investment Research & Analysis, among other brokerages, downgraded the stock, suspecting a power struggle. The spate of bad news also triggered a wide selloff, sending the stock down 36 percent on Friday on the Nasdaq. The shares were up 7 percent at $10.97 on Monday. Chairman Chookaszian, who has been a board member since September 2010, also serves as a director on the boards of for-profit education company Career Development Corporations and real-estate information provider LoopNet. Allscripts' poor profit forecast followed weaker-than-expected quarterly results, as the healthcare IT service provider sees high software development costs and fewer bookings. The Chicago-based company also doubled its share repurchase program to $400 million. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: Lion Capital in final talks to buy Alain Afflelou

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Lion Capital in final talks to buy Alain Afflelou Apr 30th 2012, 18:02 PARIS, April 30 | Mon Apr 30, 2012 2:02pm EDT PARIS, April 30 (Reuters) - Private equity firm Lion Capital said on Monday it was in final talks to buy rival Bridgepoint's majority stake in French eyewear retailer Alain Afflelou, in a deal to be finalised in June. The talks with Bridgepoint, together with minority shareholders Apax Partners and Altamir Amboise, are exclusive, and the terms of the deal will be submitted to employee representatives this week, Lion said in a statement. No price was given in the statement. Banking sources in March said that the sale was expected to be backed by around 300 million euros ($397.1 million) of debt. Founded in 1972, Alain Afflelou's 1,100 shops across Europe and Africa posted revenue of almost 800 million euros in 2011. Bridgepoint is advised by Rothschild and Latham & Watkins, while Lion Capital is advised by Lazard and S.J. Berwin. ($1 = 0.7555 euros) (Reporting by Lionel Laurent, editing by Jane Baird)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: Seat PG says Lighthouse bondholders to own 88 pct

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Seat PG says Lighthouse bondholders to own 88 pct Apr 30th 2012, 18:19 MILAN, April 30 | Mon Apr 30, 2012 2:19pm EDT MILAN, April 30 (Reuters) - Italian yellow pages publisher Seat Pagine Gialle said on Monday its board approved a restructuring plan that will give the Lighthouse bondholder group an 88 percent stake in the company. The 1.2 billion-euro debt swap hands control of the company to the bondholder group, all but wiping out private equity and stock market investors. Seat Pagine Gialle also said it sees revenue falling 4 percent in 2012 and confirmed its 2015 business plan targets on Monday.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: RLPC-Kloeckner Pentaplast sale kick off

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

RLPC-Kloeckner Pentaplast sale kick off Apr 30th 2012, 15:38 Mon Apr 30, 2012 11:38am EDT * Kloeckner attracting PE and trade interest * SVP not submitting bid * Bid will have to cover payout of 850 mln euros of snr debt By Claire Ruckin LONDON, April 30 (Reuters) - The sale of debt-laden German plastic films group Kloeckner Pentaplast, struggling with higher raw materials costs in a difficult economic climate, has kicked off, with first round bids due this week, banking sources said on Monday. Lazard is pushing ahead with a sale of the company triggered after hedge fund SVP and junior lenders rejected a consensual restructuring of Kloeckner's 1.3 billion euro ($1.7 billion) debt pile put forward by owners Blackstone and senior lender Oaktree. [ID: nL6E8FB56P] The firm has attracted interest from private equity and trade buyers, the banking sources said. Blackstone and SVP declined to comment. SVP and junior lenders are trying to find investors to back a bid for Kloeckner. They will not put in a bid for the company this week after failing to sign a non-disclosure agreement. Instead, they are preparing a separate proposal which they will put to the company - in their capacity as lenders - at a later stage, banking sources said. The junior lenders and SVP have threatened litigation against the company to avoid a 450 million euro junior debt write-off being included in the debt restructuring proposal, hiring litigation boutique Quinn Emanuel. The expectation is that the threat of litigation is being used as an M&A tactic which will be removed if their offer to buy the company is accepted and the wider sale process stopped, bankers said. It is likely an offer would be accepted if it repays senior lenders their 850 million euros debt. The M&A process can continue until June 22. At that point, a covenant breach waiver expires and senior lenders can enforce the debt restructuring proposal as the company will be in default of its loan repayments, bankers said. Blackstone bought Kloeckner from Cinven in 2007, backed by 1.25 billion euros of leveraged loans. A debt restructuring proposed that Blackstone would reduce its majority stake and co-own Kloeckner with Oaktree, wiping out junior debt. They would reduce senior debt to 500 million euros from 850 million in a debt-for-equity swap and wipe out 450 million euros junior debt split between mezzanine and second lien loans, taking leveraged to around 3.8 times the company's 130 million euro EBITDA compared to the current level of 10 times. ($1 = 0.7542 euro) (Editing by Dan Lalor) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: BTG Pactual buys stake in Brazilian fitness chain

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

BTG Pactual buys stake in Brazilian fitness chain Apr 30th 2012, 16:07 Mon Apr 30, 2012 12:07pm EDT * BTG Pactual joins controlling bloc of fitness chain * BodyTech says is South America's largest fitness chain * Deal is first following BTG Pactual's $1.99 bln IPO By Guillermo Parra-Bernal and Aluísio Alves SAO PAULO, April 30 (Reuters) - BTG Pactual, Brazil's largest independent investment bank paid an undisclosed sum to join the controlling bloc of Brazilian fitness chain BodyTech, seeking to tap into the nation's growing health-conscious middle class. In a joint statement, São Paulo-based BTG Pactual's merchant banking unit and BodyTech did not provide details on terms of the transaction, including the stake that had been purchased. BodyTech is South America's largest fitness chain by revenue, which is seen rising rise 67 percent to 280 million reais ($149 million) this year. Members of BodyTech's controlling bloc include Chief Executive Luiz Urquiza, entrepreneur Alexandre Accioly and João Paulo Diniz, the son of retail tycoon Abílio Diniz. Management will stay while BTG Pactual vowed to support BodyTech's growth plan in different aspects, the statement said. "The partnership with BTG Pactual will help us accelerate growth, boost our know-how and attain synergies with other activities in the health business," Urquiza, also a partner at BodyTech, in the statement. BTG Pactual's private equity arm is stepping up acquisitions of consumer-related companies in Brazil, where the emergence of about 40 million people from poverty over the past decade has sparked a boom in demand for fitness, entertainment and healthcare services. Brazil is the world's second biggest market for gyms, but only the 10th in terms of revenue, BTG Pactual said. Enrollment has risen at an average compound rate of 12 percent a year since 2007, totaling 5.5 million people signed up for fitness chains, the statement said. The deal took place less than a week after BTG Pactual, controlled by billionaire financier André Esteves, raised $1.99 billion in Brazil's first IPO of an investment bank. Since being founded in 2009, BTG Pactual's buyout unit has purchased stakes in Mitsubishi Corp's car assembly plant in Brazil, car parking company Estapar, hospital chain Rede D'or and commercial real estate developer BR Properties. Private equity firms are flush with cash after raising more than $7 billion for their Brazil investments last year. Three out of four Latin American private equity-led mergers and acquisition deals last year took place in Brazil, industry group LAVCA said last month. Shares of BTG Pactual fell 0.1 percent to 31.22 reais on Monday. ($1 = 1.88 Brazilian reais) (Editing by W Simon) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: RLPC-NCP gets debt in gear as court approves restructure

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

RLPC-NCP gets debt in gear as court approves restructure Apr 30th 2012, 13:59 By Claire Ruckin LONDON, April 30 | Mon Apr 30, 2012 9:59am EDT LONDON, April 30 (Reuters) - National Car Parks received approval in the High Court for a restructuring that will see lenders wipe out 500 million pounds ($811.87 million) of debt in return for a 15 percent stake in the business, banking sources said on Monday. NCP will now have debt of around 150 million pounds and owner Macquarie has agreed to inject an additional 50 million pounds of new money into the business, massively reducing its debt load and leverage. "A load of debt has been written off so it should operate more efficiently and become a viable and strong business again," one of the banking sources said. NCP declined to comment. NCP received over 75 percent lender approval for the restructuring to take place and National Australia Bank, Japan's Mizuho, Royal Bank of Canada and Lloyds Banking Group were part of a lender steering committee. A restructuring was dependent on NCP obtaining approval for a rent reduction from its main landlord, Israeli investment group Delek, which controls 59 percent of Powerfocal - a company which leases 127 car parks to NCP. Delek agreed to lower rent by 9 million pounds to 40 million a year as part of the restructuring. Macquarie acquired the car parks operator from 3i for $1.5 billion in 2007, backed by 500 million pounds in primary loans and additional debt in swap costs. NCP has suffered from expensive rent and a decline in customers as consumers have tightened their belts in the economic gloom. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 2-LPL Investment to begin paying qtly dividend

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 2-LPL Investment to begin paying qtly dividend Apr 30th 2012, 13:28 Mon Apr 30, 2012 9:28am EDT * To pay quarterly dividend of up to 12 cents a share * Declares special dividend of $2 a share * Shareholders Hellman & Friedman, TPG Capital to sell 14.5 mln shares * Q1 adjusted EPS 56 cents vs Street view 54 cents April 30 (Reuters) - LPL Investment Holdings Inc, t he largest U .S. independent brokerage, said i ts private-equity backers would sell about $540 million of stock in a public offering, and the firm detailed plans for a special dividend and regular quarterly dividends starting in the second half. The Boston company, a beneficiary of the movement by investors and brokers toward independent firms, also reported better-than-expected quarterly earnings, fueled by recruiting and improving markets. LPL Chief Executive Mark Casady said the movement of advisers from traditional firms to independents was increasing. "The pipeline is strong," Casady said in a conference call. "C urrent conditions have resulted in us elevating our expectations for new adviser additions and related expense in the coming quarters." LPL added 115 net new advisers during the first quarter. Excluding 146 advisers who left after a merger integration last year, LPL has added 554 advisers in the past 12 months, Casady said. LPL ended March with 12,962 advisers, up 3.2 percent from a year earlier. The firm's low capital needs and rising revenue have led to a growing cash pile. L PL declared a special dividend of $2 a share LPL also said it would pay regular quarterly dividends, initially up to 12 cents a share, beginning in the second half. Sh ares of LPL closed Friday at $36.98 on the Nasdaq, up 21 percent this year. LPL said its two largest shareholders, private-equity investors Hellman & Friedman and TPG Capital, would sell 14.5 million shares in a secondary offering. Based on the stock's Friday closing price, those shares are worth about $540 million. UBS brokerage analyst Alex Kramm said LPL's first-quarter revenue beat expectations thanks to higher commissions, but he warned the stock sale could weigh on the stock price in the near term. LPL sells technology, clearing and other services to self-employed brokers, w ho retain the lion's share of the fees and commissions they generate. The brokers pay their own overhead expenses. For the first quarter, LPL posted a profit of $41.2 million or 37 cents a share, down from $49.0 million, or 43 cents a share, a year ago, primarily due to charges related to debt refinancing. Excluding certain non-cash charges, the company earned 56 cents a share, topping analysts' average estimates of 54 cents, according to Thomson Reuters I/B/E/S. Revenue rose about 3 percent to a record $901.3 million. Analysts had expected $890.5 million. Advisory assets in LPL's fee-based platforms, which generate income regardless of investor trading activity, rose 11 percent to $110.8 billion. Total advisory and brokerage assets were up 7.3 percent to $354.1 billion. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: BRIEF-Moody's afrms Lecta's B1 CFR, assigns (P)B1 rtg to new secured nts

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

BRIEF-Moody's afrms Lecta's B1 CFR, assigns (P)B1 rtg to new secured nts Apr 30th 2012, 12:40 Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: Lloyds gets approach for Scottish Widows - report

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Lloyds gets approach for Scottish Widows - report Apr 30th 2012, 12:43 LONDON, April 30 | Mon Apr 30, 2012 8:43am EDT LONDON, April 30 (Reuters) - Lloyds Banking Group has received a multi-billion-pound takeover approach for Scottish Widows, its life assurance, pensions and savings business, a newspaper reported on Monday. London's Evening Standard said the approach is from Edmund Truell, the founder of private equity firm Duke Street, who is bringing 500 million pound ($812 million) bid vehicle Tungsten to the stock market. The report said Lloyds, which is 40 percent owned by the UK taxpayer and reports first-quarter results on Tuesday, has received a number of other approaches for Scottish Widows recently. Lloyds refused to comment. Truell could not immediately be reached. Lloyds CEO Antonio Horta-Osorio ruled out a sale of Scottish Widows last year after a strategic review of businesses, despite increasing regulatory demands on both banks and insurers to carry more capital. The Evening Standard said Truell has teamed up with his brother Danny to launch Tungsten and has found cornerstone investors for his bid vehicle.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: EU mergers and takeovers (April 30)

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

EU mergers and takeovers (April 30) Apr 30th 2012, 11:05 BRUSSELS, April 30 | Mon Apr 30, 2012 7:05am EDT BRUSSELS, April 30 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- Infrastructure fund Global Infrastructure Partners (GIP) to acquire a stake in the Transitgas pipeline from Belgian gas transport company Fluxys (approved April 27) NEW LISTINGS - Dow Europe Holding, a unit of U.S. company, Dow Chemical Company, to aquire joint control of carbon products company Aksa Karbon which is now solely controlled by Turkish conglomerate Aksa Akrilik (notified April 26/deadline June 7/simplified) -- Spanish oil product company Disa Corporacion Petrolifera to acquire joint control of Shell Aviation Espana S.L. from Shell Espana S.A, which is part of Royal Dutch Shell Plc (notified April 26/deadline June 7) EXTENSIONS AND OTHER CHANGES -- Compagnia Italiana di Navigazione to acquire Italian state-owned ferry group Tirrenia (Commission closed the investigation on April 27 after the companies abandoned the transaction) FIRST-STAGE REVIEWS BY DEADLINE APRIL 30 -- CVC Capital Partners to acquire Nordic construction products and machinery distributor Ahlsell from Cinven and Goldman Sachs Capital Partners (notified March 21/deadline April 30) MAY 4 -- Austrian brickmaker Wienerberger to acquire the remaining 50 percent share in plastic pipe maker Pipelife International from Belgian chemicals group Solvay (notified March 26/deadline May 4/simplified) -- Scholz Austria to acquire joint control of waste management company Asaler Familienholding GmbH (notified March 26/deadline May 4/simplified) MAY 7 -- Dutch retailer Ahold to acquire Dutch non-food online retailer Bol.com from Cyrte Investments and NPM Capital(notified March 27/deadline May 7) MAY 8 -- U.S. cereal company Kellogg Co to acquire Pringles potato chips from U.S. household products maker Procter & Gamble Co (notified March 28/deadline May 8/simplified) -- British packaging company DS Smith to acquire the recyclyed packaging operations of Svenska Cellulosa Aktiebolaget (SCA) (notified March 28/deadline May 8) MAY 10 -- Dong Energy and Boston Holdings to set up a wind park joint venture (notified March 29/deadline May 10) -- French power utility EDF to acquire control of Italian utility Edison (notified March 29/deadline May 10) MAY 11 -- Swiss engineering group ABB to acquire U.S. electrical components maker Thomas Betts (notified March 30/deadline May 11/simplified) -- French dairy product group Lactalis to acquire Swedish dairy cooperative Skanemejerier (notified March 30/deadline May 11) May 14 -- Miner Rio Tinto to acquire sole control of miner Richards Bay Minerals (notified April 2/deadline May 14/simplified) -- Irish investment fund ESB NM and oil group BP to acquire joint control of British start-up Heliex Power Ltd (notified April 2/deadline May 14/simplified) -- Swedish group Freudenberg & Co and Swedish car parts company Trelleborg to set up a car parts joint venture (notified April 2/deadline May 14) MAY 16 -- Royal Bank of Canada to acquire British fund services company RBC Dexia Investor Services Ltd (notified April 4/deadline May 16/simplified) MAY 21 -- Finnish group Outokumpu to acquire German group ThyssenKrupp's Inoxum stainless steel unit (notified April 10/deadline May 21) MAY 22 -- German sugar company Suedzucker to acquire a 25 percent stake in British commodities trading company ED&F Man (notified Sept. 19/deadline extended for the third time to May 22 from April 25 after Suedzucker offered more commitments) MAY 25 -- Eastman Chemical Co. to acquire chemicals firm Solutia Inc. (notified April 16/deadline May 25) MAY 29 -- Belgian-based AGC Glass Europe to acquire majority stake in Germany's Interpane International Glas (notified April 17/deadline May 29) JUNE 4 -- German property services provider RGM and builder Alpine Bau to acquire joint control of property developer BIP (notified April 23/deadline June 4/simplified) -- Mexican industrial conglomerate Mexichem to acquire Dutch peer Wavin (notified April 23/deadline June 4) JUNE 5 -- French insurer CNP Assurances Swiss Life France (notified April 24/deadline June 5/simplified) JUNE 6 -- Pratt & Whitney which is a unit of U.S. maker of elevators and air conditioners United Technologies Corp, British company Rolls-Royce plc, Japanese Aero Engines Corp and Germany's MTU Aero Engines GmbH to set up a joint venture called International Aero Engines (notified April 25/deadline June 6/simplified) AUG 9 -- U.S. conglomerate United Technologies Corp to acquire U.S. aircraft components maker Goodrich (notified Feb. 20/deadline extended to Aug. 9 from March 26 after the Commission opens an-depth investigation) AUG 27 -- Telefonica UK and Vodafone UK to set up a joint venture providing mobile commerce services (notified March 6/deadline extended to Aug. 27 from April 13 after the Commnission opens an in-depth investigation) SEPT 6 -- Vivendi's Universal Music Group to buy British record label EMI's recorded music unit from Citigroup Inc (notified Feb. 17/deadline extended for the second time to Sept. 6 from Aug. 8 after the Commission asked for more time) GUIDE TO EU MERGER PROCESS DEADLINES: The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that by 10 working days to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case. Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days. SIMPLIFIED: Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified -- that is, ordinary first-stage reviews -- until they are approved. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 1-LPL Investment to begin paying dividends in second half

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-LPL Investment to begin paying dividends in second half Apr 30th 2012, 11:22 Mon Apr 30, 2012 7:22am EDT * Expects to pay regular divs of up to $0.12/shr * Declares special dividend of $2/shr * Shareholders Hellman & Friedman, TPG Capital to sell 14.5 mln shares * Q1 adj EPS $0.56 vs est $0.54 April 30 (Reuters) - Private equity-backed LPL Investment Holdings Inc, the top U.S. independent brokerage, declared a special dividend of $2 per share on Monday, and said it would begin regular quarterly payouts in the second half of 2012. Boston-based LPL, which sells technology, clearing and other services to self-employed brokers, said it expected to pay regular quarterly dividends, initially up to 12 cents a share, or 48 cents a share annually, beginning in the second half. Separately, the company said its principal shareholders Hellman & Friedman and TPG Capital would sell 14.5 million shares in a secondary offering. For the first quarter, LPL posted a profit of $41.2 million or 37 cents a share, down from $49.0 million, or 43 cents a share, a year ago, primarily due to charges related to debt refinancing. Excluding certain non-cash charges, the company earned 56 cents a share, topping analysts' estimates of a profit of 54 cents a share, according to Thomson Reuters I/B/E/S. Revenue rose about 3 percent to $901.3 million. Analysts had expected revenue of $890.5 million. Advisory assets in LPL's fee-based platforms rose 11.1 percent to $110.8 billion. Total advisory and brokerage assets were up 7.3 percent to $354.1 billion. Shares of the company closed at $38.94 on Friday on Nasdaq. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: Indonesia's MNC Skyvision to launch IPO by June

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Indonesia's MNC Skyvision to launch IPO by June Apr 30th 2012, 09:38 JAKARTA, April 30 | Mon Apr 30, 2012 5:38am EDT JAKARTA, April 30 (Reuters) - PT MNC Skyvision, Indonesia's largest pay-TV provider, plans to launch an initial public offering by June this year as it aims to tap investor demand for consumer stocks in Southeast Asia's biggest economy, the CEO of its parent company said on Monday. Hary Tanoesoedibjo, CEO of PT Global Mediacom, said that several strategic investors have shown interest in participating in the IPO, including U.S private equity firm Saban Capital. He declined to give an amount the firm was looking to raise. Sources told Reuters in March that MNC Skyvision planned to raise $300-$400 million via an IPO in June after scrapping the plan last year. MNC Skyvision is Indonesia's market leader in satellite pay-TV with a 78 percent market share from its two brands Indovision and Top TV. (Reporting by Fathiya Dahrul; Editing by Neil Chatterjee)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 1-Nokia in talks to sell luxury Vertu unit-source

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Nokia in talks to sell luxury Vertu unit-source Apr 30th 2012, 10:06 Mon Apr 30, 2012 6:06am EDT LONDON, April 29 (Reuters) - Cellphone maker Nokia is in talks to sell its UK luxury subsidiary Vertu, which hand makes some of the world's most expensive mobile phones, a source familiar with the company's strategy said on Monday. Earlier the Financial Times reported that talks with private equity group Permira were at an advanced stage on a possible sale which would raise about 200 million euros ($265 million). Vertu's cellphones can feature crystal displays and sapphire keys, costing more than 200,000 pounds ($320,000) due to the precious metal components. Nokia, which had its credit rating cut to "junk" status by Standard & Poor's last week, first signalled its intention to sell Vertu in December, and recently said it plans to dispose of "non-core assets". Nokia, once the world's dominant mobile phone provider, d eclined to comment, while Vertu and Permira were not available for comment. The FT report, published on its website on Sunday, cited people familiar with the talks as s aying Goldman Sachs was advising on the possible sale, but said the outcome was not yet certain. EQT, the Northern European private equity group, has also been in talks about buying the company, although those close to the process, cited by the FT, say that these are not progressing at this stage. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »

Reuters: Private Equity: UPDATE 1-Terra Firma agrees 825 mln stg Four Seasons deal

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Terra Firma agrees 825 mln stg Four Seasons deal Apr 30th 2012, 09:54 Mon Apr 30, 2012 5:54am EDT * Deal will repay all existing Four Seasons debt * New debt package arranged by Goldman Sachs, Barclays * Four Seasons is Britain's largest care homes operator By Simon Meads LONDON, April 30 (Reuters) - Private equity group Terra Firma is to buy Britain's biggest care home operator Four Seasons Health Care in a deal worth 825 million pounds ($1.34 billion), hoping to benefit from the long-term growth market in care for the elderly. The deal will mark a reprieve for Four Seasons, some 40 percent owned by Royal Bank of Scotland, which has been looking to refinance some 780 million pounds of debt before a September repayment deadline. The deal is expected to close on or before July 16, at which point all Four Seasons' liabilities will be repaid in full. Terra Firma, the private equity group founded by Guy Hands, is backing its deal with a new, smaller debt package, being arranged by Goldman Sachs and Barclays. Four Seasons is the largest independent health care provider in a 15 billion pound British market, operating 445 care homes, and 61 specialist care centres. Private equity's activities in the health care sector have come under intense scrutiny since the collapse of Southern Cross, a listed group that had been previously owned by Blackstone. But unlike Southern Cross, which collapsed because of its inability to meet a crippling rental bill on a largely leased estate of homes, Four Seasons owns around 60 percent of its homes limiting its exposure to rental costs, Terra Firma said. Not only did Four Seasons take over the mantle of Britain's largest care home group from Southern Cross, it acquired some 140 of its failed rival's homes. Despite the public and political controversy in the sector, the requirement for elderly and specialist care provision is forecast to grow annually by 3.1 percent over the next 10 years driven by the needs of a growing elderly population, Terra Firma said. Most of this need will be met by the independent sector offering services that complement the National Health Service. Four Seasons was advised by Rothschild, Gleacher Shacklock and Deutsche Bank. Terra Firma was advised by Barclays and Goldman Sachs. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

Read more »