Calgary-based oil and gas company Bellatrix Exploration Ltd (TSX, NYSE MKT: BXE) has completed its $240 million joint venture partnership with Troika Resources Private Equity Fund. Based in Seoul, South Korea, Troika is managed by Korea Development Bank, SK Energy and Samchully Asset Management Co. The partnership vehicle, called TCA Energy Ltd, will contribute $120 million to the drilling and developing of lands in the Ferrier Cardium region of Alberta. Investment proceeds will also be used to reduce the company's indebtedness.
4 min read · 11 November 2013
Ottawa-based Mitel Networks Corp (TSX:MNW) (Nasdaq:MITL), a provider of business communications and collaboration software and services, has agreed to buy Aastra Technologies Ltd (TSX:AAH), an enterprise communications company based in Concord, Ontario. The deal, which has been approved by the boards of directors of both companies, is valued at around $400 million. Aastra shareholders will vote on the acquisition agreement at a special meeting in January 2014. U.S. private equity firm Francisco Partners and Terry Matthews, who together control 63% of Mitel's shares, have both signed voting support agreements in favour of the transaction. Francisco Partners took a stake in the company when it helped finance Mitel's purchase of Inter-Tel-Corp in 2007.
10 min read · 11 November 2013
KKR & Co LP said it is buying Brickman Group Holdings Inc, the largest U.S. commercial landscaping company, from Leonard Green & Partners LP, in a deal valued at $1.6 billion.
2 min read · 11 November 2013
Manulife Financial said Monday that it has expanded its third party private asset management business. The new unit will be called Manulife Asset Management Private Markets and focus on providing investors access to Manulife Financial's other private asset investment teams that have primarily served its general fund. Based in Toronto, Manulife Financial is a financial services provider. Update: The firm has C$7.3 billion in private equity, infrastructure equity, mezzanine debt, and oil and gas. The private equity and mezzanine debt teams invest capital in Canada and the United States.
5 min read · 11 November 2013
Japan’s Government Pension Investment Fund (GPIF) is making initial moves toward investing in private equity, sources said, a potentially big step in the world’s biggest public pension fund’s strategy of shifting some of its $1.2 trillion in assets towards riskier investments, sister news service Reuters reported.
3 min read · 11 November 2013
Private equity firm Aquiline Holdings LLC is exploring a sale of Clear2Pay, a Belgian financial services electronic payments company it invested in four years ago, according to two people familiar with the situation, sister news service Reuters reported.
1 min read · 11 November 2013
Apax Partners LLP is in advanced talks to acquire medical cost containment services company One Call Care Management Inc from Odyssey Investment Partners LLC for more than $2 billion, three people familiar with the matter told sister news service Reuters.
2 min read · 11 November 2013
A handful of buyout firms, including Cerberus Capital Management LP, are exploring a deal for all or part of supermarket chain Safeway Inc, according to people familiar with the matter, in what could potentially shape up to be one of the largest leveraged buyouts since the financial crisis, sister news service Reuters reported.
3 min read · 11 November 2013
Bain Capital LLC, Crestview Partners LP and Goldman Sachs Group Inc’s private equity arm are among the firms preparing to submit final bids for events services company PSAV Presentation Services, three people familiar with the matter told sister news service Reuters.
2 min read · 11 November 2013
Capsugel, the Pfizer spin-off bought by private equity group KKR & Co in 2011 which makes capsules used for drugs, is the latest issuer to announce a payment-in-kind toggle structure that will fund a dividend payment to its owners, sister news service IFR reported.
4 min read · 11 November 2013
