Bank of China is a leading contender to buy the Royal Bank of Scotland’s aircraft leasing business, RBS Aviation Capital, Reuters reported, citing the Sunday Times. The unit has also attracted interest from General Electric and private equity firm Terra Firma. According to Reuters, both submitted “expressions of interest” for the business.
1 min read · 25 July 2011
The Export-Import Bank of Korea will sell a 6.25% stake in Korea Exchange Bank to Hana Financial Group, under the same terms as U.S. private equity fund Lone Star's $4.1 billion sale to Hana, Reuters reported Monday. Under what is called a “tag along” right, the bank can ask Hana to buy its stake, which is valued at about 540 billion won ($513.3 million), Reuters wrote.
2 min read · 25 July 2011
Private equity firms Blackstone Group and the Carlyle Group, TPG Capital, Apollo Global Management and Warburg Pincus are among those interested in buying Morgan Keegan, the brokerage unit of Regions Financial Corp., Reuters reported. The firms, as well as Stifel Financial Corp., are expected to submit bids for Morgan Keegan Monday. Morgan Keegan has a book value of about $1.5 billion, Reuters wrote.
3 min read · 25 July 2011
Gordon Brothers Europe and OpCapita have joined together to make an offer for British electricals chain Comet, Reuters reported. Restructuring firm Hilco UK is also reportedly interested in the company. First round bids for the company, currently owned by Kesa, were due July 20. Bidders are to be notified within seven days if they are going through to a second round, Reuters said.
3 min read · 22 July 2011
Buyout shop Charterhouse has collected roughly 510 million euros ($724 million) in loans to back its buyout of Dutch company Bureau Van Dijk Electronic Publishing from rival firm BC Partners, Reuters reported Thursday. The debt includes 370 million euros of senior loans and roughly 140 million euro of mezzanine loans, Reuters wrote. Credit Suisse, Goldman Sachs, JP Morgan and Nomura are arranging the senior financing.
1 min read · 22 July 2011
Bristol-Myers Squibb Co. will acquire privately held Amira Pharmaceuticals in an all-cash transaction worth up to $475 million. The deal includes $325 million upfront, with potential additional milestone payments totaling $150 million, the companies announced Thursday. Amira Pharmaceuticals was backed by investors including Novo A/S, Avalon Ventures, Prospect Venture Partners and Versant Ventures.
4 min read · 22 July 2011
Marwyn European Transport, a subsidiary of Marwyn Management Partners, will acquire German bus operator Axel Tucks for 3.75 million euros ($5.38 million), the company announced Friday. Axel Trucks operates more than 100 buses within the Rhine-Ruhr region of South West Germany. Marwyn European Transport was launched in February 2011.
2 min read · 22 July 2011
Private equity firm Paine & Partners has made a strategic investment in Australia’s Costa Group, which is a grower and marketer of fresh produce. Terms of the deal, which is expected to close later this year, were not disclosed. Paine & Partners focuses on investments in the food and agribusiness industries.
4 min read · 22 July 2011
Apollo Residential Mortgage, a specialty finance company controlled by buyout shop Apollo Global Management, priced its initial public offering Thursday at $20 per share, Reuters reported. Apollo Residential sold 10 million shares in the offering, raising $200 million, Reuters wrote. Morgan Stanley, Credit Suisse and J.P Morgan were the underwriters on the offering.
1 min read · 22 July 2011
Moelis Capital Partners, the private equity business of Moelis & Co., has added Doug Corbett as an operating partner. Corbett was most recently executive partner at Apta Capital. In his new role, he will focus on consumer-related investments. Moelis Capital is a middle-market private equity firm.
2 min read · 22 July 2011
