Vishal Retail has completed the sale of its wholesale and retail businesses to private equity firm TPG Capital and Shriram Group respectively, Reuters reported. The company, which struggled during the economic downturn, will use the proceeds of the sales to pay down debt, Reuters reported.
2 min read · 14 March 2011
Private equity firm the Carlyle Group has joined with maritime investment firm Tiger Group to buy more than $5 billion worth of shipping vessels across Asia, Reuters reported. The joint operation, which also includes other investment partners, will buy container, dry bulk, tanker vessels and other shipping assets. The venture has committed to invest equity capital of $900 million in the next five years, Reuters said.
2 min read · 14 March 2011
Koronis Pharmaceuticals, a venture-backed developer of drugs for HIV, is planning an initial public offering in London for later this year, or early 2012, Reuters reported. Seattle-based Koronis has raised $43 million to date from investors. It is majority-owned by Pacific Horizon Ventures, a Seattle-based venture capital firm, Reuters said. The company’s drugs are designed to accelerate mutation of the virus that causes AIDS to the point where it collapses, Reuters wrote.
2 min read · 14 March 2011
Initial bids are expected for Fortune Brands’ golf unit, with potential suitors including several private equity firms, as well as Adidas AG and Nike Inc., Reuters reported. Facing pressure from activist investor William Ackman, the company announced in December that it would split off its golf and home products units.
2 min read · 14 March 2011
With help from private equity firm Leonard Green and Partners LP, Lextron Inc. will pay $111 million in cash to buy rival Animal Health International, Reuters reported. Lextron offered $4.25 per share for Animal Health, representing an 11% premium over the company’s closing price Friday. Animal Health distributes drugs, vaccines and other veterinary products.
1 min read · 14 March 2011
Private equity firm Mount Kellett Capital Management has partnered with two Indian firms to buy a 35% stake in MedPlus Health Services, Reuters reported, citing a story in the Times of India. The deal is valued at 4.1 billion rupees ($91 million). Mount Kellett will invest 3 billion rupees, and is joined in the deal by TVS Capital and Ajay Piramal group's healthcare fund, Reuters said.
1 min read · 14 March 2011
Buyout giant the Carlyle Group will begin ivesting in Peruvian companies as part of a partnership with the country's largest financial holding company Credicorp Ltd., Reuters reported. The partnership will focus on growth capital and buyouts in sectors including consumer and retail, healthcare, education and logistics, Reuters said.
1 min read · 14 March 2011
The Hillman Companies Inc., which is backed by private equity firm Oak Hill Capital Partners, will pay $40 million for TagWorks Inc. Formed in 2007, TagWorks provides a pet ID tag program to Petsmart. Hillman is a distributor of fasteners, key duplication systems, engraved tags and related hardware items. In May 2010, Oak Hill Capital Partners and Hillman's management team formed a partnership to acquire Hillman.
3 min read · 11 March 2011
U.S. private equity firm TPG Capital aims to sell its indirect stake in Indian commercial vehicle lender Shriram Transport Finance Co. for as much as $1 billion, Reuters reported, citing an article in the Times of India. In 2005, TPG's Newbridge fund invested $100 million for 49% in Shriram Holding. The firm’s indirect stake in the transportation financing unit is estimated at more than 20%, Reuters said.
1 min read · 11 March 2011
Silver Falcon Mining Inc., which is traded on the over-the-counter Bulletin Board, has inked a $7.2 million equity line of credit with Centurion Private Equity, an affiliate of Roswell Capital Partners. Silver Falcon Mining is a developer and explorer of mineral resource properties, primarily in Owyhee County, Idaho.
2 min read · 11 March 2011
