Japan's Sumitomo Mitsui Financial Group and private equity firms the Carlyle Group and JC Flowers are among the bidders in the first-round of an auction for a 25% stake in Malaysian lender RHB Capital, Reuters reported. The stake being sold by Abu Dhabi Commercial Bank has a market value of $1.6 billion. Abu Dhabi Commercial Bank will announce a shortlist of bidders by the end of the month, Reuters wrote.
3 min read · 20 May 2011
GoWireless Inc. has closed on a credit facility with Kayne Anderson Mezzanine Partners, designed to help fuel growth and acquisition opportunities. Financial terms were not disclosed. Las Vegas-based GoWireless is one of the largest Verizon Wireless resellers in the U.S. Kayne Anderson Mezzanine Partners manages $600 million in committed capital and invests in middle market companies.
2 min read · 19 May 2011
Praesidian Capital has invested $15.5 million of first lien debt in overnight shipping company Lone Star Overnight. The funding is designed to support its acquisition by a sponsor group comprised of Pilgrim Capital Partners, Fort Point Capital, and MRL Capital, the firm said Thursday. Lone Star Overnight is an express and ground parcel delivery company working in Texas, Oklahoma and Louisiana.
2 min read · 19 May 2011
Laboratory equipment company Thermo Fisher Scientific Inc. will pay about $3.5 billion for Phadia, a maker of allergy and autoimmune tests, Reuters reported. Phadia is owned by European private equity firm Cinven. The deal, expected to close during the fourth quarter of this year, will help Thermo Fisher expand its reach in specialty diagnostics.
1 min read · 19 May 2011
Healthcare focused investment fund Enhanced Equity Fund, along with MedTest Chief Executive James White, have invested an undisclosed amount in medical diagnostics company MedTest DX Inc. Based in Cortlandt Manor, New York, MedTest was created to purchase the chemistry diagnostics business from Polymedco Inc. Terms of the deal were not disclosed. Enhanced Equity is based in New York.
2 min read · 19 May 2011
Kohlberg Kravis Roberts & Co. paid 240 million euros ($342 million) for Versatel, Reuters reported. Major Versatel shareholders Apax Partners with 41.7 percent, Cyrte and United Internet, with about 25 percent each, agreed to sell their shares for 5.50 euros apiece. The deal is set to close in the third quarter.
1 min read · 19 May 2011
Private equity firm BC Partners is about to lose control of Greek casino operator Regency Entertainment, handing over the company to lenders in a debt-for-equity swap, Reuters reported. The move comes after a breach of covenants on a 700 million euro ($998.4 million) loan. Lenders include Deutsche Bank and Park Square Capital.
2 min read · 19 May 2011
Toshiba Corp. has entered into an agreement to buy Swiss-based smart metering company Landis+Gyr for $2.3 billion, including net debt. Landis+Gyr is owned by several investors including Bayard Capital of Australia. Toshiba beat out buyout shops TPG Capital and EQT Partners in the auction for Landis+Gyr.
4 min read · 19 May 2011
Japan’s largest drugmaker, Takeda Pharmaceutical Co., will pay $13.6 billion to buy private equity backed rival Nycomed, Reuters reported. Zurich-based Nycomed is majority owned by four private equity firms, led by Nordic Capital with 41%. Credit Suisse's DLJ Merchant Banking has 25.6%, Coller International Partners 9.7% and Avista 8.9%.
4 min read · 19 May 2011
Japan's Sumitomo Mitsui Banking Group and buyout shop Carlyle Group are expected to place first round bids for a stake in Malaysian lender RHB, Reuters reported. Carlyle is expected to bid for the stake and is in discussions with other potential partners, sources with knowledge of the deal told Reuters.
3 min read · 19 May 2011
