U.S. grocery store operator Safeway Inc is in advanced talks with private equity firm Cerberus Capital Management LP over a leveraged buyout deal that may come within the next few weeks, according to people familiar with the matter, sister news service Reuters reported.
3 min read · 21 February 2014
U.K.-based private equity firm Hilco Capital recently flagged plans to find purchasers for Denby Holdings Group, a manufacturer of high-quality tableware. A potential sale would include British pottery manufacturer Denby, Burleigh Poole. A key part of Denby, Burleigh Poole's operations is Denby Canada, the company's marketing and distribution subsidiary based in Etobicoke, Ontario. As reported by peHUB Canada last June, Hilco established Denby Canada in 2012. The firm said it has received a number of unsolicited approaches from strategic investors to buy Denby Holdings Group, and for that reason has appointed Canaccord Genuity to explore possible options.
2 min read · 21 February 2014
Canadian alternative asset manager Brookfield Asset Management has formed a joint venture with APM Terminals Management B.V., a Dutch provider of international shipping ports and terminals. The joint venture company, APM Terminals Elizabeth, is located in APM Terminals' Port Elizabeth, New Jersey facility. Brookfield and APM Terminals will own equal shares in the company. The undisclosed transaction, which is subject to regulatory approvals, is expected to be completed within the next couple of months.
2 min read · 21 February 2014
Onex Partners IV has raised a total of US$3.7 billion in capital commitments to date, according to the fund's manager Canadian private equity firm Onex Corp (TSX: OCX). That puts the firm's flagship partnership, launched in 2013, within reach of its US$4.5 billion target. Buyouts, a sister publication to peHUB Canada, last month reported that Fund IV is expected to reach its final close by mid-2014. Releasing its full-year financial results, Onex also said that distributions from its private equity funds totaled US$2.9 billion in 2013, which is the second highest year in the firm's history. Additionally, the private companies of Onex Partners and mid-market platform ONCAP last year generated returns of 34% through combined distributions and realizations.
7 min read · 21 February 2014
Spain’s largest cable operator Ono has hired Deutsche Bank and JPMorgan to coordinate its plans for a stock market flotation, a source with knowledge of the situation told sister news service Reuters.
1 min read · 21 February 2014
German industrial machinery and process engineering group GEA will shortly narrow the list of contenders for its heat exchangers division to about three bidders, possibly including the same groups eyeing rival Alstom’s heat exchanger unit, two people familiar with both deals told sister news service Reuters.
2 min read · 21 February 2014
Canadian alternative assets manager Brookfield Asset Management (TSX: BAM.A) (NYSE: BAM) announced "the strongest results in our history" in 2013. The firm's consolidated net income totaled $3.8 billion as of December 31, up 40% from 2012, and funds from operations totaled $3.4 billion, up 149%. As a consequence, Brookfield's total assets under management increased to $187 billion. The private equity group at Brookfield and other alternative investment platforms were key to the firm's performance last year, as reported earlier this month by peHUB Canada.
9 min read · 20 February 2014
As lenders, co-investors and limited partners, a number of insurance companies are placing big bets on the high-risk, high-reward middle market. Canada’s third-largest insurance company, Sun Life Financial Inc, earlier this month rolled out an alternative investment management business, including a fund ear-marked in part for mid-market senior loans, expected to grow to the billions of Canadian dollars over the next few years.
3 min read · 20 February 2014
DNA Precious Metals Inc (OTCQB: DNAP) said Thursday that it has received a revolving credit facility of up to $10 million from an unnamed Chicago-based private equity firm. According to the company, the financing will be used for operating capital, to fund mining acquisitions, and for future production. Headquartered in Saint-Léonard, Québec, DNA is an exploration-stage mining producer. Update: the company is currently focused on near-term production of the Montauban tailings mine in Portneuf County, Québec.
3 min read · 20 February 2014
Private equity firm Blackstone Group LP and Singapore sovereign wealth fund GIC are in advanced talks to buy minority stakes in Kronos Inc that could value the human resources software company at around $4.5 billion, including debt, three people familiar with the matter told sister news service Reuters.
2 min read · 20 February 2014
