Canadian pension fund Ontario Municipal Employees Retirement System has sealed additional financing for its acquisition of Scotland-based shipping services company V.Group, Reuters reported Friday. HSBC and Citi joined the Royal Bank of Canada in underwriting a $260 million loan for the acquisition. OMERS acquired V.Group in July from private equity firm Exponent for $520 million backed by leveraged loans solely underwritten at the time by RBC, Reuters wrote.
2 min read · 04 November 2011
Vestar Capital Partners said Friday that it had closed its office in Munich, and has plans to close its Paris office by year-end. Each office had four employees. Speaking of the decision, Vestar Chief Daniel O'Connell said that the firm continues to be concerned about the volatile investment outlook for Europe.
2 min read · 04 November 2011
Phoenix Asset Management has acquired DAVID Corp., provider of risk management and insurance software and services. Terms of the deal were not released. Phoenix is a private equity firm focused on middle market investments.
2 min read · 04 November 2011
India's Videocon Industries is looking to sell a 25% stake in its direct-to-home broadcast services business for roughly $75 million to $100 million. The company has hired UBS to help it find an investor, and is reportedly in talks with private equity firms, Reuters wrote Friday. Potential investors include ICICI Venture.
1 min read · 04 November 2011
Great Atlantic & Pacific Tea Co., once the Unites States’ largest supermarket owner, has lined up $490 million in financing for its plans to emerge from bankruptcy as a private company, Reuters reported Friday. The debt and equity financing will come from Yucaipa Cos, an investment vehicle of billionaire Ron Burkle; Goldman Sachs Asset Management; and Mount Kellett Capital Management.
2 min read · 04 November 2011
Silicon Valley Bank has named Robert Curley managing director and sector head for software in its corporate finance group. He worked previously as senior vice president and managing director of MMV Financial in Palo Alto, Calif.
2 min read · 04 November 2011
A House of Representatives panel voted on Thursday to subpoena the White House for emails and other documents related to a $535 million loan to Solyndra, the solar panel maker that went bankrupt and was raided by the FBI, Reuters reported. The subcommittee vote in the Republican-controlled House means the White House -- unless it invokes executive privilege -- may be asked to release a broad range of emails, including any received about Solyndra on President Barack Obama's personal Blackberry, Reuters wrote.
2 min read · 04 November 2011
Great Point Partners, a Greenwich, Conn.-based firm focused on the healthcare investments, has put an undisclosed amount into Aris Teleradiology. Hudson, Ohio-based Aris was formed in 2007 and provides radiology services to hospitals, imaging centers, and radiology groups. Terms of the deal were not released.
3 min read · 04 November 2011
The Gores Group, via its Gore Logistics Holdings LLC, has acquired supply chain company Clark Holdings, the company announced. The deal closed on November 4. Gores Group is a private equity firm with offices in Los Angeles and Boulder, Colo.
2 min read · 04 November 2011
Mandarin Capital Partners is planning to launch a 1 billion euro ($1.4 billion) fund next year to meet the rising demand for overseas acquisitions by Chinese firms, Reuters reported Friday. The firm launched its first fund in 2007. Mandarin Capital's first fund, backed by two Chinese policy banks -- China Development Bank and the Export-Import Bank of China -- and Italy's Intesa Sanpanlo, will be fully invested by the end of April next year, Reuters wrote.
1 min read · 04 November 2011
