U.S. private equity firm Lone Star is closer to taking control of Portugal's Novo Banco with an offer to inject up to 1 billion euros ($1.07 billion) into the bank in return for a 75 percent stake, sources told Reuters.
3 min read · 16 March 2017
Retailer Canada Goose Holdings Inc said on Wednesday it has priced its initial public offering at $17 (US$12.78) per share, above its target range. The issue will raise $340 million. The maker of luxury winter down jackets had earlier expected to price the offering of 20 million shares at $14 to $16 per share. Canada Goose, which started in a small warehouse in 1957, sold a majority stake in 2013 to Bain Capital LLC, for an undisclosed amount.
1 min read · 16 March 2017
Retailer Canada Goose Holdings Inc said on Wednesday it has priced its initial public offering at C$17 ($12.78) per share, above its target range, Reuters reported.
1 min read · 16 March 2017
TransCanada Corp plans to build a new crude oil storage facility in Cushing, Oklahoma in partnership with M2 Infrastructure LLC, an affiliate of U.S. private equity firm Lone Star Capital, Reuters reported. The facility will be able to store 6.2 million barrels of crude oil and will be located at TransCanada's terminal in Cushing, M2 said, adding TransCanada will operate the storage. The project is expected to begin in late 2017.
1 min read · 15 March 2017
Packaging company Ardagh Group (ARD.N) surged 19 percent in its New York debut on Wednesday, valuing the firm at about $5.3 billion after it raised $307.8 million in an initial public offering to help to pay down debt, Reuters reported.
2 min read · 15 March 2017
Brazilian construction conglomerate Odebrecht SA is close to announcing the sale of its stake in Rio de Janeiro's international airport to Canadian pension fund manager PSP Investments, a source with direct knowledge of the matter told Reuters. The sale of Odebrecht's 60 percent stake in Rio de Janeiro's airport operator RioGaleão is expected to bring a solution to an impasse over debts with the Brazilian government. RioGaleão, in which Singapore's Changi Airports International also has a stake, needs to pay around 4 billion reais (US$1.26 billion) to the government to maintain rights over the terminal's management, the source said.
2 min read · 15 March 2017
Savanna Energy Services Corp said it accepted a higher offer from fellow Canadian oilfield services provider Western Energy Services Corp, while again rejecting a hostile bid from Total Energy Services Inc, Reuters reported. The new Western Energy offer values Calgary-based Savanna at about $386 million, up from about $348 million earlier. The company is backed by Alberta Investment Management Corp, which last year agreed to provide it with about $219 million in debt and equity financing.
1 min read · 15 March 2017
The former chief executive of human resources software firm Zenefits, Parker Conrad, on Tuesday made public a new startup that will compete with his old company, marking a comeback by the Silicon Valley entrepreneur who left Zenefits under a cloud, Reuters reported.
2 min read · 15 March 2017
A Japanese state-backed fund may invest in Toshiba Corp's (6502.T) memory chip business as a minority partner - a move that would help the government prevent a sale to bidders it deems risky to national security, sources told Reuters.
2 min read · 15 March 2017
The two private equity consortia vying for Stada have made binding takeover offers each worth 4.7 billion euros ($5.0 billion) including debt, paving the way for a deeper look into the German generic drugmaker's books, sources told Reuters.
1 min read · 15 March 2017
