I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Gala Kerzen, which is backed by Equistone Partners, said Feb. 28 that it is buying a majority of Ramesh Flowers. Financial terms were not disclosed. Ramesh Flowers, of Tuticorin, India, makes and exports potpourri, air fresheners, incense sticks, candles and decorative products.
3 min read · 28 February 2018
Alibaba is in talks to buy Ele.me in a deal that could value the Chinese food delivery platform at $9.5 billion, the Financial Times said. Alibaba and Ant Financial already own 40 percent but are looking to buy the remaining 60 percent from existing investors including Baidu, the story said.
1 min read · 27 February 2018
Cerberus Capital Management LP said Feb. 27 that it has agreed to buy Bluestone Holdings Australia. Financial terms weren’t announced. The Australian Financial Review pegged the sale at $103 million. The deal includes Bluestone’s Australasian mortgage lending and portfolio servicing operations.
3 min read · 27 February 2018
Chicago Policeman’s Annuity & Benefits Fund sold a portfolio of private equity fund of funds on the secondary market at the end of 2017, Pension & Investments is reporting. Evercore advised the pension fund’s board in the sale, the story said. With the transaction, Chicago Policeman’s Annuity & Benefits Fund switched to private credit from private equity to provide more cash flow, the story said
1 min read · 27 February 2018
HG Capital has hired Arma Partners to sell Iris Software Group Ltd, in a deal that could value the software company at over 1 billion pounds ($1.4 billion), Sky News is reporting. Iris, of the U.K., provides accounting and payroll software to the U.K. accounting market. HG has held a stake in Iris for 14 years, the story said.
1 min read · 27 February 2018
Epris has acquired Time Inc UK, which publishes Marie Claire, NME and Country Life, according to The Guardian. The deal is pegged at 130 million pounds ($181.6 million), the story said. Time Inc UK is one of Britain’s biggest magazine publishers, owning What’s on TV, Woman’s Weekly and Horse & Hound, the story said.
1 min read · 27 February 2018
Starwood Capital Group said Feb. 26 that it has acquired a portfolio of seven Hilton hotels throughout the United Kingdom for 135 million pounds ($188.6 million). Park Hotels & Resorts is the seller. The portfolio, totaling over 1,300 rooms, is located in several of the UK's top hotel markets, including London, Edinburgh, Bath and Belfast.
3 min read · 27 February 2018
Francisco Partners said Feb. 26 that it agreed to buy a majority of Discovery Education from Discovery Communications Inc for $120 million. Discovery will retain a minority equity interest and license the “Discovery Education” brand to the business. Discovery Education partners with administrators, teachers, students and like-minded organizations worldwide to create digital learning environments.
3 min read · 27 February 2018
Catalyst Development, which is backed by Livingbridge, has acquired Knadel. Financial terms weren’t announced. Knadel, an investment management consultancy, provides business and technology consulting. Livingstone advised Catalyst.
3 min read · 27 February 2018
LeapFrog Investments said Feb. 27 that it has sold its stake in Petra Trust to African Capital Alliance. Financial terms weren’t announced. Petra Trust is Ghana’s largest independent pensions trustee.
4 min read · 27 February 2018
