Qatar Investment Authority, one of the world’s most aggressive sovereign wealth funds, will set asset allocation targets for the first time and restructure internal decision-making, sources say, in response to a drop in oil prices that has crimped available funds as competition for assets grows, Reuters reported.
3 min read · 15 June 2015
Famed U.S. gun maker Colt Defense LLC said it filed for Chapter 11 bankruptcy protection and its current sponsor, Sciens Capital Management LLC, agreed to act as a “stalking horse” bidder, Reuters reported.
1 min read · 15 June 2015
Charterhouse Capital Partners has agreed to sell its stake in U.K. environmental consultancy Environmental Resources Management (ERM) to the private equity arm of the Ontario Municipal Employees Retirement System (OMERS) for an enterprise value of US$1.7 billion, Reuters reported. The Alberta Investment Management Corporation (AIMCo) is co-investing in the deal.
2 min read · 15 June 2015
Chip Wilson, who founded Lululemon Athletica Inc and left its board earlier this year after disagreements with fellow directors, is now looking to potentially sell his family's estimated US$1.3 billion stake in the yogawear maker, Reuters reported. The Vancouver-based Lululemon averted a proxy war last year when Wilson agreed to sell half his stake in the company to Advent International, a U.S. private equity firm.
2 min read · 12 June 2015
International Flavors & Fragrances Inc (NYSE: IFF) has agreed to purchase Lucas Meyer Cosmetics, a maker of ingredients for the cosmetics and personal care industry based in Québec City. IFF, a U.S. developer of flavours and fragrances used in consumer products, said it will pay about €283 million ($392 million) for the company, which is owned by Unipex Group Inc. The deal, which is expected to close in the third quarter, follows the sale in April of Unipex Solutions Canada Inc to KODA Distribution Group. Headquartered in Paris, Unipex Group is a portfolio company of European private equity firm IK Investment Partners.
5 min read · 12 June 2015
Banks have lined up 2.2 billion euros ($2.48 billion) of loan and bond financing to back private equity firm Apollo Global Management’s acquisition of Saint-Gobain’s glass bottle unit Verallia, banking sources told Reuters on Thursday.
2 min read · 12 June 2015
Spanish drinks company J.Garcia Carrion, owner of the Don Simon juices brand, wants to find a financial partner, a senior executive told Reuters on Thursday, part of plans to expand internationally.
2 min read · 11 June 2015
The Caisse de dépôt et placement du Québec has made an investment totaling $53 million in the Québec City Jean Lesage International Airport. The investment, which is a term loan, will be used to help finance expansion and maintenance projects at the airport, including development of its international terminal. The Caisse's investment is part of a private transaction that will provide the airport with about $265 million in funding.
2 min read · 11 June 2015
Solitario Exploration & Royalty Corp and Ely Gold & Minerals Inc have agreed to sell their combined interests in the Mount Hamilton gold project to an affiliate of Canadian private equity firm Waterton Global Resource Management for US$30 million in cash. According to the terms of the deal, Solitario will sell its 80 percent stake in Mount Hamilton, while Ely Gold will sell its 20 percent stake. Maxit Capital LP provided financial advice to both Solitario and Ely Gold on the transaction. Waterton said the acquisition will add another key development asset to its growing portfolio of assets in Nevada.
9 min read · 11 June 2015
Specialty pharmaceuticals company Pozen Inc said it would acquire Tribute Pharmaceuticals Canada Inc for about US$144 million, in a deal that would shift its domicile to Ireland and cut its tax bill. The merged company, to be called Aralez Pharmaceuticals Plc, will focus on cardiovascular treatments. As part of the transaction, a group of investors, including U.S. healthcare investment firm Deerfield Management and Canadian biotech company QLT Inc, will invest up to US$350 million in growth capital for Aralez.
3 min read · 10 June 2015
