U.S. private equity fund Warburg Pincus has hired Goldman Sachs to sell Safetykleen Europe , which provides used oil collection, recycling and parts cleaning services, Reuters reported.
1 min read · 23 January 2017
ING Life Korea, backed by private equity firm MBK Partners, plans to raise more than $1 billion in an initial public offering in 2017, IFR reported on Friday, citing a person close to the deal.
1 min read · 20 January 2017
Fairfax Financial Holdings (FFH.TO) is in early talks to sell 25 percent of India's largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources told Reuters.
3 min read · 20 January 2017
Fairfax Financial Holdings is in early talks to sell 25 percent of India's largest private general insurer ICICI Lombard in a deal that could fetch up to US$1 billion, as the Canadian firm looks to cash out and start a new insurance joint venture, sources told Reuters. ICICI Lombard is a joint venture formed in 2001 between ICICI Bank, India's second largest bank, and Fairfax, which is led by Canadian billionaire Prem Watsa. Private equity firms, including Blackstone Group and KKR & Co, as well as some Canadian pension funds, have expressed interest in Fairfax's stake, the sources said.
3 min read · 20 January 2017
Canada's MEG Energy Corp is testing the capacity for oil-related loans with a US$1.235bn deal that will be used to refinance debt and is part of a capital restructuring, Reuters reported. The company could open the door for other leveraged energy borrowers to tap the loan market. Access to this pool of money has been largely shut off to the sector over the last year after oil prices started plummeting in 2014. With oil stabilizing, private equity firms may also see an opening and look to pull the trigger on buyout situations with the help from the banks that want their business.
4 min read · 19 January 2017
League Inc, a Toronto startup that has excited investors because of its potential to streamline health benefits and the insurance market, will soon offer insurance products in the United States and complete its Canadian roll-out, CEO Michael Serbinis told Reuters. The two-year-old company is also eyeing overseas expansion and broadening its services this year, which could prompt another round of funding this fall or next spring, he said. "Coming out of the summer-September, if we're on plan to do this, we'll probably raise at least $100 million," said Serbinis, who founded Kobo, a Canadian digital reading platform.
2 min read · 19 January 2017
A unit of private investment firm Starwood Capital Group said it would buy Canada's Milestone Apartments Real Estate Investment Trust (MST_u.TO) in a deal valued at about $2.85 billion.
1 min read · 19 January 2017
Malaysian offshore drilling services company UMW Oil & Gas Corp Bhd (UMW-OG) said it would buy Icon Offshore Berhad in a deal that values the offshore support vessel provider at 588.6 million ringgit ($132 million).
2 min read · 19 January 2017
A unit of U.S. private investment firm Starwood Capital Group said it would buy Canada's Milestone Apartments Real Estate Investment Trust in a deal valued at about US$2.85 billion, Reuters reported. Milestone Apartments' portfolio consists of 78 multi-family residential properties, comprising 24,061 apartment units, located throughout the Southeast and Southwest United States. The transaction implies an average price of about US$120,000 per apartment unit, the Toronto-based REIT said.
1 min read · 19 January 2017
Private equity firm Apax Partners plans to gradually cut its stake in Norwegian technology firm Evry ASA through an initial public offering, daily Finansavisen reported on Thursday, quoting unnamed sources.
1 min read · 19 January 2017
