Five buyout firms are expected to bid next week for a stake in Deutsche Telekom’s online classified advertising business Scout24, valuing the equity and debt of the whole unit at $2.2-2.3 billion, three sources close to the process said, sister news service Reuters reported.
2 min read · 11 October 2013
Singapore-listed Del Monte Pacific Ltd will buy the canned food business of private equity-backed Del Monte Foods Consumer Products Inc for $1.7 billion, gaining a direct presence in the key U.S. market and reuniting a substantial portion of the Del Monte brand family, sister news service Reuters reported.
2 min read · 11 October 2013
Warburg Pincus-controlled oil and natural gas company Antero Resources Corp went public earlier this month with a valuation of over $11 billion, after the company priced its upsized initial public offering above its indicated range, sister news service Reuters reported.
2 min read · 11 October 2013
Generational Capital Markets, an M&A advisory firm in Dallas, has sold JewelPop to Lynx Equity. No financial terms were disclosed. The transaction closed on August 22, 2013. Based in Dartmouth, Nova Scotia, JewelPop is a jewelry brand. Lynx Equity is a private equity fund manager in Toronto.
2 min read · 11 October 2013
JPMorgan Chase & Co, one of Wall Street’s biggest advisers and financiers of leveraged buyouts, is set to lose its chief private equity banker to cosmetics maker Revlon Inc this month, sister news service Reuters reported.
2 min read · 11 October 2013
Toronto-based KIK Custom Products Inc has agreed to acquire the consumer products business of Chemtura Corp for $315 million in cash. The deal is expected to close on December 31, 2013. Headquartered in Lawrenceville, Georgia, Chemtura's consumer products business is known as BioLab in North America and Bayrol in Europe. KIK is a portfolio company of U.S. private equity firm CI Capital Partners. Update: The company, a manufacturer of consumer, institutional and industrial products, was taken private by CI Capital Partners for $826 million in May 2007.
3 min read · 11 October 2013
407 International Inc, which is engaged in the operation, maintenance and management of Highway 407 in the greater Toronto area, this week completed an offering of $200 million senior secured 4.68% medium-term notes. Net proceeds were approximately $186.5 million. Forty percent of the company is owned by Canada Pension Plan Investment Board. Torys LLP represented 407 International in the transaction.
2 min read · 10 October 2013
Canadian private equity firm Lynx Equity has bought JewelPop Inc and Lotus Imports Ltd, both designers, importers and distributors of several sterling silver jewellery lines, and based in Halifax, Nova Scotia. Financial details of the transaction were not disclosed. The deal follows Lynx's August acquisition of Toronto-based fashion wholesaler Fine Line Imports Inc. The firm indicated that it plans to pursue similar acquisitions during the balance of 2013.
2 min read · 10 October 2013
Bain Capital and the Caisse de dépôt et placement du Québec have closed their previously announced sale of 8 million subordinate voting shares in Valcourt, Québec-based Bombardier Recreational Products Inc (BRP, TSX: DOO). The secondary transaction generated gross proceeds of about $223 million. BRP, which develops, manufactures and distributes power sports vehicles, was bought in 2003 by Bain, the Caisse and members of the Bombardier family. The company completed an initial public offering on the Toronto Stock Exchange earlier this year.
4 min read · 10 October 2013
The number of global distressed debt and restructuring deals rose in the first nine months of 2013, reports Thomson Reuters' Distressed Debt and Bankruptcy Restructuring Review. Completed transactions totaled 342 at the end of September, up 33% from one year ago. However, deal values, totaling US$99.6 billion to date, fell 74% over the same period. Market activity in the United States, reflecting 95 transactions valued at US$40.9 billion, also showed growth in volume, and a slight dip in dollar flows. Media and entertainment companies accounted for 22% of U.S. distressed debt and restructuring activity.
1 min read · 10 October 2013
