The Bank of Jerusalem has bid 515 million shekels ($150 million) for the Israeli unit of Franco-Belgian retail bank Dexia SA, the company said Tuesday. Bank of Jerusalem plans to turn Dexia Israel into a wholly owned subsidiary, Reuters reported.
1 min read · 31 May 2011
Buyout giant the Carlyle Group and Japanese brewer Suntory are leading a race to buy a 30% stake in Indonesian consumer firm GarudaFood, Reuters reported, adding that the stake is worth more than $200 million. If Carlyle wins the bid it would be the firm’s first direct investment in Southeast Asia's biggest economy, Reuters wrote. The sale had attracted interest from private equity firms 3i Group Plc and Unitas Capital, but only Carlyle and Suntory made it to the final bidding.
2 min read · 31 May 2011
Kohlberg Kravis Roberts & Co. will acquire Academy Sports + Outdoors, a sports, outdoor and lifestyle retailer, the company announced Tuesday. As part of the deal, the company’s owners, the Gochman family, will retain a minority stake. Financial terms were not disclosed. Academy Sports + Outdoors is based in Katy, Texas, and owns 131 locations across 11 states in the southeast United States.
3 min read · 31 May 2011
Private equity-owned REDGroup Retail, which was once Australia’s largest bookstore owner, is urgently looking for a buyer, and will close shop if one is not found, Reuters reported. Administrators for the company began looking for a buyer after they were unable to reach a deal with creditors. REDGroup is owned by Pacific Equity Partners.
2 min read · 31 May 2011
A consortium including private equity firm Clayton Dubilier & Rice, Axa Private Equity and Canada's Caisse des Depots du Quebec will acquire French engineering group Spie in a deal valuing it at 2.1 billion euros ($3 billion), Reuters reported. The group is buying the electrical and mechanical engineering firm from French private equity group PAI Partners.
1 min read · 31 May 2011
Kenneth Lee, a principal at growth capital firm SAIF Partners, has joined the board of Sinovac Biotech Ltd. Sinovac is a provider of biopharmaceutical products in China. focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases including hepatitis A and seasonal influenza.
2 min read · 31 May 2011
London-based Millhouse Inc. has acquired Australia-based Alliance Capital Group, a provider of residential mortgages, construction finance, car finance and business asset finance. Terms of the deal were not released. Millhouse focuses on acquisitions in the funds management, investment management, and asset management sectors.
2 min read · 31 May 2011
Private equity fund EQT Expansion Capital II has put 40 million euro ($57.4 million) into a management buyout of Nordic data center builder Coromatic Group. The financing, in a combination of equity and loans, enables the company’s management to take over the majority of Coromatic from private equity fund Litorina Kapital III. EQT Expansion II is a 474 million euro fund focused on investments in privately owned mid-market companies.
4 min read · 31 May 2011
Billionaire Nicolas Berggruen's Justice Holdings may make a 1 billion pound ($1.65 billion) offer for breakfast cereal company Weetabix, Reuters reported, citing a story in the Sunday Times. UK-based Weetabix is owned by private equity firm Lion Capital, which bought it for 642 million pounds in 2003, Reuters wrote.
1 min read · 31 May 2011
Private equity firm Oaktree Capital will float Stock Spirits on the Warsaw bourse in June in an offer worth around 350 million euros ($500 million), Reuters reported. Stock Spirits is one of central Europe’s largest alcohol makers. Oaktree plans to sell as much as 50% of the company.
1 min read · 31 May 2011
