Samsonite International, which is backed by private-equity firm CVC Capital Partners, has set a new price range of HK$14.50 to HK$15.50 per share for its IPO from HK$13.5 to HK$17.5 previously, Reuters reported. Samsonite plans to sell 671 million shares, putting its IPO size as high as HK$10.4 billion ($1.3 billion), compared with up to HK$11.7 billion ($1.5 billion) before. Goldman Sachs Group Inc., HSBC Holdings Plc and Morgan Stanley are managing the offering.
3 min read · 09 June 2011
Private equity investor EQT Infrastructure has acquired a majority stake in Argos Terminals, the storage and terminal business of BeNeLux-based oil company Argos Group. Financial terms of the deal were not disclosed, though the company said Argos Group would retain a minority stake. The deal is expected to close in July.
4 min read · 09 June 2011
Visa will pay $110 million to buy mobile financial services tech company Fundamo. Fundamo’s technology provides mobile financial services to unbanked and under-banked consumers. The company is based in Cape Town, South Africa, and is backed by investors including Sanlam, Remgro Limited and HBD Venture Capital. The deal is expected to close by September.
5 min read · 09 June 2011
Schneider Electric SA will pay $650 million to acquire China’s Leader & Harvest Technologies Holdings Ltd., Reuters reported. The deal provides a strong exit for owners Affinity Equity Partners and Unitas Capital, which are pulling in more than three times their initial, $200 million investment, made in 2009.
2 min read · 09 June 2011
Harris Williams & Co. announced Wednesday the sale of Northern Digital Inc., a portfolio company of Audax Group, to strategic buyer Roper Industries. Terms of the deal, which closed June 3, were not released. Harris Williams & Co. acted as an advisor to Waterloo, Ontario-based Northern Digital. Audax focuses on small cap and lower-middle market investments. Audax manages more than $4.5 billion of equity, mezzanine debt, and senior loan capital.
3 min read · 08 June 2011
Samena Capital, based in Hong Kong, is raising a $700 million fund for investments in listed securities in Asia, the Middle East and North Africa, Reuters reported. The firm currently manages more than $400 million.
1 min read · 08 June 2011
Australian private equity firm Archer Capital will pay $246 million to buy hospital operator Healthe Care from CHAMP Ventures, Reuters reported Wednesday. Archer outbid rival private equity firm Pacific Equity Partners. Healthe Care which owns 12 private hospitals in Australia.
1 min read · 08 June 2011
China’s SunSun Lighting, which makes LED lighting products, has raised $10 million in Series A financing from GSR Ventures. The company will use the money for growth. GSR Ventures has offices in Beijing and Palo Alto, Calif.
3 min read · 08 June 2011
Seattle-based buuteeq has closed on $3.5 million in Series A financing from angel investor Geoff Entress, Benaroya Capital and other, unnamed investors. Buuteeq is a developer of a digital marketing system for independent hotels. The newest round brings the company’s total funding to $5 million.
3 min read · 08 June 2011
Seyfarth Shaw has added partner Matthew Hafter to the firm’s Chicago office. Hafter joins from Grippo & Elden. In his new role, Hafter will focus across a broad range of transactions, including mergers and acquisitions, venture capital, public and private securities offerings, and secured lending, the firm said in a statement.
2 min read · 08 June 2011
