Private Equity
Hana Financial Group plans to extend the deadline for a $1 billion share sale designed to help fund its $4.1 billion acquisition of Korea Exchange Bank, Reuters reported. The firm, which is buying the bank from private equity firm Lone Star, plans to accept letters of interested until mid-January. Reuters also said private equity firms Carlyle Group, Corsair Capital and MBK Partners have submitted letters of interest to buy the shares.
2 min read · 27 December 2010
Buyout shop High Road Capital Partners has acquired Montvale, New Jersey-based Dowden Health Media. Financial terms of the deal were not released, although High Road said the deal was the seventh platform investment from its debut fund. The acquisition closed on December 22. Dowden provides marketing, communications and information technology services for pharmaceutical companies and hospitals.
3 min read · 23 December 2010
Mistral Equity Partners has promoted Griffin Whitney and Christopher Bradley to the post of principal, and promoted Elizabeth Nations to senior associate. Whitney joined Mistral in 2007. Bradley and Nations joined the firm in 2008.
2 min read · 23 December 2010
Private equity firm Symphony Technology Group will pay $265 million in cash for the employer services and litigation support businesses of publicly traded CoreLogic. The newly spun-out businesses will operate under the name First Advantage. Palo Alto, Calif.-based Symphony Technology Group focuses on software and services companies. CoreLogic is based in Santa Ana, Calif.
3 min read · 23 December 2010
AES Solar, a joint venture between publicly traded AES Corp. and private equity firm Riverstone Holdings, has raised 103 million euros ($135 million) for a portfolio of solar photovoltaic projects in Italy. Specific terms of the financing were not released. Riverstone Holdings is an energy and power-focused private equity firm with roughly $17 billion under management.
3 min read · 23 December 2010
Oak Hill Capital Partners, which recently closed its acquisition of AccentCare, said it will merge the home healthcare firm with homecare and hospice service Guardian Home Care Holdings. Financial terms of the deal were not released. AccentCare is based in Irvine, Calif. Oak Hill Capital Partners has more than $8.2 billion under management.
4 min read · 23 December 2010
Wine company Constellation Brands will sell its Australian and U.K. business to Champ Private Equity for about 290 million Australian dollars ($290.5 million). Constellation will retain a roughly 20% stake in the business unit. The deal is expected to close by the end of January. Formed in 1987, Champ has offices in Sydney, Brisbane, Singapore and New York.
4 min read · 23 December 2010
Private equity shop Leonard Green & Partners will pay $1.6 billion to acquire fabric retail chain Jo-Ann Stores. The deal, at $61 per share, represents a 34% premium over the company’s closing price yesterday. J.P. Morgan, Bank of America Merrill Lynch and TCW/Crescent Mezzanine will provide financing for the deal. Jo-Ann Stores sells fabrics and craft supplies in 756 stores across 48 states. Los Angeles-based Leonard Green & Partners has more than $9 billion under management.
4 min read · 23 December 2010
Starwood Capital will sell the Paris landmark Hotel de Crillon to a Saudi investor, Reuters reported, pegging the value of the deal at roughly 250 million euros ($328.4 million). The name of the buyer was not released. Reuters reported that the buyer was an “eminent” member of the Saudi royal family.
1 min read · 23 December 2010
Brazilian dairy producers Bom Gosto and LeitBom plan to merger operations, Reuters reported, in order to compete better in global markets. LeitBom is owned by Monticiano Participacoes, a joint venture between private equity firms Laep Investments and GP Investments. The newly combined company, called Lacteos Brasil will have annual sales of roughly 3 billion reais ($1.8 billion), Reuters said.
2 min read · 23 December 2010
