The private equity arm of French insurer AXA is buying a majority stake in telecom provider Outremer, Reuters reported. Apax Partners and Outremer’s Chief Executive Jean-Michel Hegesippe are selling the 52.26% stake, Reuters wrote.
1 min read · 27 June 2011
South African buyout firm Ethos Private Equity is exiting its investment in sporting goods retailer Holdsport via a $170 million listing on the Johannesburg Stock Exchange next month, Reuters reported. Ethos paid 681 million rand ($99.14 million) for a majority stake in the company in 2006.
2 min read · 27 June 2011
UBS has hired John Dyment as global head of hedge fund distribution, based in New York. He joins from Shumway Capital Partners, which at its peak was a $9 billion multi-asset hedge fund based in Greenwich , Conn. Previously, Dyment held various posts at Deutsche Bank and Goldman Sachs.
2 min read · 24 June 2011
Spark Ventures said that it sold half of its stake in social online gaming company Mind Candy Inc., sealing a 15x return. The London-based firm first invested in Mind Candy in 2004. According to the firm, Mind Candy is now valued at $200 million.
2 min read · 24 June 2011
OpenGate Capital has acquired two boxboard-manufacturing subsidiaries of Cascades Inc., the firm said Friday. The two subsidiaries, based in Kentucky and Connecticut, will operated under the brand name Fusion Paperboard. Financial terms of the deal were not released. OpenGate Capital is based in Los Angeles.
2 min read · 24 June 2011
Baidu has paid $306 million to buy Chinese travel site Qunar, the company announced Friday. Formed in 2005, Qunar sealed at least $25 million from investors including GSR Ventures, Mayfield Fund, Tenaya Capital and GGV Capital. The company’s site provides real-time searches for air and rail tickets, hotels, and tour packages. The deal is expected to close in the third quarter of 2011.
5 min read · 24 June 2011
Private equity firms Bain Capital and Hellman & Friedman have agreed to buy Swedish alarm company Securitas Direct from Swedish buyout firm EQT, Reuters reported. The deal reportedly values the business at about 20 billion Swedish Kronor ($3.1 billion). Bain and Hellman & Friedman beat out a rival consortium of Stanley Black & Decker and Carlyle Group in the deal. Terms of the acquisition were not released.
2 min read · 24 June 2011
Buyout shop Providence Equity Partners is in talks to buy learning software maker Blackboard Inc., Reuters reported. Blackboard, based in Washington DC, hired Barclays Capital in April to advise it on unsolicited, non-binding acquisition proposals. A deal could happen as early as next week, Reuters said.
1 min read · 24 June 2011
Australian fast-food company Collins Foods, which is owned by private equity firm Pacific Equity Partners, is planning a $263 million initial share offering, Reuters reported. Deutsche Bank and UBS have been appointed as joint lead managers for the IPO. Collins Foods manages more than 380 KFC and Sizzler franchises.
2 min read · 24 June 2011
Universal Music Group is reportedly working on a bid to buy EMI, Reuters reported. EMI was put up for sale this week by Citigroup, which took control of the music company when private equity owner Terra Firma defaulted on a loan.
2 min read · 23 June 2011
