Danish life science investor Novo A/S said on Wednesday it was raising its stake in Synlab to about 20 percent through a 250 million euro ($265 million) subscription to new shares, ahead of a potential listing of Europe's second largest lab operator.
2 min read · 12 April 2017
Private equity firm Blackstone has reached an agreement in principle to hand over control of German outdoor brand Jack Wolfskin to a group of its lenders in a debt for equity swap, sources told Reuters
2 min read · 12 April 2017
Italy's Cassa di Risparmio di Rimini (Carim) said on Wednesday its board had granted access to its books to a private equity firm that offered to buy a controlling stake in the regional bank as it seeks to fill a capital gap.
1 min read · 12 April 2017
Pillarstone, the platform set up by US private equity firm KKR to buy or manage non-core bank assets in Europe, has hired Mark Knight as a partner and general counsel, Reuters reported.
1 min read · 12 April 2017
Ride-services company Lyft has raised US$600 million in fresh funding, fuel for the company's growth as it continues to compete fiercely with larger rival Uber, Reuters reported. The round values the San Francisco company at US$7.5 billion, a sharp increase from the US$5.5 billion valuation at Lyft's last financing more than a year ago. The funding comes from previous investors, including Japanese internet company Rakuten Inc and investment fund Janus Capital Group, and first-time Lyft investors, including U.S. private equity firm KKR & Co, large asset manager Baillie Gifford, and one of Canada's largest pension funds, the Public Sector Pension Investment Board (PSP Investments).
2 min read · 12 April 2017
Private equity firm Waterous Energy Fund is seeking investment opportunities in the Canadian oil and gas sector as valuations turn attractive after a prolonged slump in the oil price, making a contrarian bet as global players pull back, Reuters reported. Calgary-based Waterous Energy, which invests $100 million to $400 million per deal in energy assets, is targeting companies in Canada and the United States, and is finding Canada particularly appealing, said Adam Waterous, head of Waterous Energy and a former top investment banker at Bank of Nova Scotia. This week, Waterous Energy agreed to pay about $244 million for a 67 percent stake in Canadian energy company Northern Blizzard Resources Inc.
2 min read · 12 April 2017
Japan's Toshiba Corp has narrowed down the field of bidders for its chip unit to four suitors including Broadcom Ltd and Western Digital Corp, Reuters reported.
1 min read · 12 April 2017
Orbital Systems, which makes water-saving showers, said on Wednesday it had raised 15 million pounds ($18.7 million) from a group of investors including its board member Niklas Zennstrom, co-founder of Skype, to finance its expansion plans, Reuters reported.
1 min read · 12 April 2017
Germany's Siemens and Canada's Bombardier are in talks to combine their rail operations, sources told Reuters, a move that could strengthen their hand against Chinese state-backed market leader CRRC Corp. Siemens' and Bombardier's transport businesses are roughly comparable in size. With a combined 2016 operating profit of US$1.28 billion, the joint venture could be valued anywhere between US$14 billion and US$27 billion, according to the multiples of listed peers. Caisse de dépôt et placement du Québec made a $2.1 billion convertible share investment in Bombardier's rail arm last year, giving the pension fund a 30 percent interest.
4 min read · 11 April 2017
Altice USA, the cable operator that Netherlands-based Altice NV (ATCA.AS) put together by acquiring Cablevision and Suddenlink Communications, on Tuesday filed for an initial public offering that seeks to raise $1 billon to $2 billion, according to a source familiar with the matter.
2 min read · 11 April 2017
