Sweden's MTG has agreed to sell its Baltic broadcasting operations to Providence Equity Partners, the latest deal in its transformation from a traditional broadcaster to a digital entertainment firm, Reuters reported.
1 min read · 17 March 2017
Private equity firm KKR (KKR.N) and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) agreed to buy USI Insurance Services from Onex Corp (ONEX.TO) in a $4.3 billion deal, including debt.
2 min read · 17 March 2017
U.S. private equity firm KKR & Co and Canadian pension fund manager Caisse de dépôt et placement du Québec agreed to buy USI Insurance Services from Onex Corp in a US$4.3 billion deal, including debt, Reuters reported. The deal is the latest in a string of mergers in the insurance market, which has not grown quickly enough to support the smaller brokerages. Onex bought USI in 2012 for US$2.3 billion from Goldman Sachs Group's private equity arm. The Toronto-based investor said the sale of USI will generate a gross multiple of invested capital of 3.4 times and a 34 percent gross rate of return.
3 min read · 17 March 2017
Former Barclays (BARC.L) chief executive Bob Diamond marked a return to investment banking in Britain on Friday with a Qatari-backed takeover of stockbroker Panmure Gordon (PMR.L), one of the oldest names in the City of London, Reuters reported.
2 min read · 17 March 2017
German drugmaker Stada (STAGn.DE), at the center of a takeover battle between two private equity consortia, has raised its medium-term forecasts, pressing for a higher valuation after telling suitors their 4.7 billion euro ($5 billion) bids were too low, Reuters reported.
2 min read · 17 March 2017
Homebuilder Neinor Homes will price a planned March stock market flotation at 16.46 euros per share, it said on Thursday, valuing the company at 1.3 billion euros ($1.4 billion) in Spain's first listing of a residential builder in more than ten years.
2 min read · 16 March 2017
Canada Goose Holdings shares surged 40 percent in their trading debut on Thursday after the high-end parka manufacturer raised $340 million in an initial public offering, Reuters reported. The maker of $900 parkas priced the offer above the marketing range on Wednesday, underscoring strong investor appetite for a brand that celebrities have made popular. Founded in a small Toronto warehouse 60 years ago, Canada Goose was acquired by U.S. private equity firm Bain Capital in 2013. The IPO valued the company at about $1.8 billion.
3 min read · 16 March 2017
Hong Kong's Chow Tai Fook Enterprises (CTFE) on Thursday said it had agreed to purchase Australian gas and electricity retailer Alinta Energy, in a deal two sources familiar with the matter said was valued at about A$4 billion ($3 billion).
2 min read · 16 March 2017
Canada Pension Plan Investment Board (CPPIB), Singapore's sovereign wealth fund GIC and property owner Scion Group LLC said their joint venture had bought three U.S. student housing portfolios for about US$1.6 billion, in its second major deal in the United States, Reuters reported. CPPIB and GIC will each own a 45 percent stake in the three portfolios and Scion Group will own the remaining 10 percent. The investors said their joint venture, Scion Student Communities LP, plans to buy more student housing properties in the United States.
1 min read · 16 March 2017
Private-equity backed French clothing retailer Vivarte, in talks to restructure more than 1.3 billion euros ($1.4 billion) of debt, has sealed a deal with its lenders, chairman and chief executive Patrick Puy told French newspaper Les Echos.
1 min read · 16 March 2017
