London-based private equity firm CVC Capital Partners, European buyout firm Cinven and London-based Advent Venture Partners are all in the running for a stake in Turkish drug maker Bilim Ilac, Reuters said. The size of the potential deal is unclear.
1 min read · 08 April 2011
Bolstering its intellectual property practice, Lowenstein Sandler has added an eight-person patent prosecution team led by Dan Ovanezian and Marina Portnova. The group, which recently left the firm of Blakely Sokoloff Taylor & Zafman to join Lowenstein, will be based in Palo Alto, Calif.
2 min read · 08 April 2011
Dutch chip maker NXP Semiconductors is in takeover talks with Intel, Qualcomm and Broadcom, Reuters reported, citing an article by Dutch paper De Telegraaf. NXP was bought out by private equity investors, including Kohlberg Kravis Roberts & Co., Bain Capital, Silver Lake, Apax Partners and AlpInvest in 2006. The firm was partly listed by its private equity owners in August 2010.
1 min read · 08 April 2011
Indian construction and energy firm Gayatri Projects Ltd. is hoping to raise $250 million from private equity firms, Reuters reported, in effort to fund its power projects. The company is aiming to close on a round this summer, and may launch its rights issue by June, Reuters reported.
1 min read · 08 April 2011
J Trust Co., which reportedly had backing from Goldman Sachs to help fund its bid for failed Japanese lender Takefuji Corp., has dropped out of the running, Reuters reported. J Trust, a real estate and financial holding firm, said that it was not certain bidding would be handled in a fair and transparent manner, Reuters wrote. Private equity firms Cerberus Capital Management and TPG Capital both reportedly bid in a final round of the auction last month.
2 min read · 08 April 2011
Promus Equity Partners LLC, the private equity arm of Promus Capital, has acquired ProSteel Security Products Inc. Terms of the deal were not released, though the firm said that senior debt was provided by US Bank. Provo, Utah-based ProSteel is a provider of gun safes marketed under the Browning ProSteel brand. Chicago-based Promus Equity has roughly $400 million under management.
2 min read · 08 April 2011
Buyout shops Cinven and BC Partners sold a combined 10% stake in Spanish travel and tourism IT services company Amadeus IT Holding, pulling in a total of 613 million euro ($883 million), Reuters reported. Amadeus returned to the public market in 2010, five years after its private equity buyout, Reuters said. Other shareholders include Air France and Deutsche Lufthansa.
1 min read · 08 April 2011
Seattle-based early-stage cleantech investment group Northwest Energy Angels has formed an advisory council to help guide its investments. The new council’s members are: Rob Wiltbank, a partner at Montlake Capital; Ron Pernick, managing director of Clean Edge; Amory Lovins, co-founder, chairman and chief scientist at the Rocky Mountain Institute; Rick LeFaivre, a partner at OVP Venture Partners; Nancy Floyd, founder and managing director of Nth Power; and KC Golden, who oversees the Policy Leadership Program.
3 min read · 07 April 2011
Sweden-based broadcaster Modern Times Group is among the three remaining bidders for ProSiebenSat.1's assets in Scandinavia, Reuters reported, citing an article in the Swedish trade journal Resume. ProSiebenSat.1 is owned by private equity firms Kohlberg Kravis Roberts & Co. and Permira. According to Reuters, the biggest sticking point on a potential deal is price: ProSiebenSat.1 is reportedly asking for 12 billion Swedish crowns ($1.9 billion) for the assets.
1 min read · 07 April 2011
Canadian gym operator GoodLife Fitness Centres Inc. has raised $125 million in debt financing. Penfund, a provider of junior capital to middle-market companies, led the round, which included participation from Macquarie Bank, Manulife Capital, GRI Investments Inc., The Canadian Medical Protective Association and the Teachers' Retirement Allowances Fund Board. The money is aimed at helping GoodLife financing growth, and re-finance its existing debt.
3 min read · 07 April 2011
