Sabre Corp, the owner of online travel agency Travelocity, filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock as it attempts to become a publicly traded company again, sister news service Reuters reported.
2 min read · 24 January 2014
Final bids for French construction and concessions firm Vinci’s parking concession business are due by early February, in a deal expected to fetch around 2 billion euros ($2.7 billion), three people close to the deal told sister news service Reuters.
1 min read · 24 January 2014
Canadian industrial chemicals and services provider Chemtrade Logistics Income Fund (TSX: CHE.UN) has closed its previously announced buy of General Chemical Holding Co. The final cash purchase price is approximately US$900 million, which will be financed by Chemtrade through a mix of debt and equity. The acquisition, which Reuters first reported in Nov. 2013, adds significant size, scale and scope to Chemtrade's existing product and service platform, according to the company. The seller of the Parsippany, New Jersey-based chemicals and sulphuric acid manufactuer was U.S. private equity firm American Securities, which took General Chemical private in 2009 for US$673 million. Osler, Hoskin & Harcourt LLP acted as legal advisor to Chemtrade in the deal.
5 min read · 24 January 2014
Aqua Terra Water Management LP, which was formed last year by U.S. private equity firm Bregal Partners, said Friday that it has acquired saltwater disposal assets from Canadian companies Ceiba Energy Services Inc and Phyllis Disposal Ltd. No financial terms were disclosed. Canaccord Genuity advised Aqua Terra on the deal. Update: The acquisition was made by Aqua Terra subsidiary Four Winds Energy Services Ltd, a Grande Prairie, Alberta-based operator of Class 1b and Class II water disposal facilities that was bought in Nov. 2013. Aqua Terra said the latest transaction marks its initial entry point into the Canadian Bakken and the heavy oil corridor around Lloydminster, Saskatchewan
2 min read · 24 January 2014
GP clawbacks can be calculated net of tax distributions already made to the general partner, net of the general partner contribution, or net of both.
1 min read · 24 January 2014
Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG and Russia’s VTB Capital, plans a stock market flotation in London before the end of next month, two financial market sources told sister news service Reuters.
1 min read · 24 January 2014
KKR & Co and BlackRock Inc are among leading global investors in talks to buy a stake in China Huarong Asset Management Co Ltd as the bad debt manager seeks to raise more than $2 billion, people familiar with the matter told sister news service Reuters.
3 min read · 24 January 2014
The U.S. Justice Department accused United States Investigations Services (USIS), the largest private provider of security checks for the government, of bilking millions of dollars through improper background verifications, sister news service Reuters reported.
3 min read · 24 January 2014
As we start the new year, there seems to be one topic of conversation that continually pops up: “Can it continue?”
4 min read · 23 January 2014
Onex Corp’s flagship buyout vehicle Onex Partners IV LP is expected to reach a rapid close at or near its US$4.5 billion target by the middle of 2014, an LP familiar with the firm told Buyouts, a sister publication to peHUB Canada. “Onex will have it done within six months,” the LP said of Toronto-based Onex, which has been visible with deals and capital commitments of late. Onex Partners IV disclosed about US$3.1 billion commitments in a Form D filing on Dec. 16 with 38 investors participating in the offering.
2 min read · 23 January 2014
