Private equity firm CVC Capital Partners Ltd is in advanced talks to acquire MSC Software Corp, a U.S. company that makes simulation computer programs, for more than $800 million, including debt, sources told Reuters.
2 min read · 12 January 2017
Private equity firm Onex Corp (ONEX.TO) is exploring a sale of USI Insurance Services, hoping that a deal will value the U.S. insurance brokerage at as much as $4 billion, including debt, sources told Reuters.
2 min read · 12 January 2017
Canadian private equity firm Onex Corp is exploring a sale of USI Insurance Services, hoping that a deal will value the U.S. insurance brokerage at as much as US$4 billion, including debt, sources told Reuters. A sale of USI would underscore the wave of consolidation sweeping the commercial property and casualty insurance market, which has not grown quickly enough to support the smaller brokerages, and has attracted buyout firms keen to cut costs. Onex is working with Bank of America Corp on an auction for USI, the sources said.
2 min read · 12 January 2017
McDonald's Corp (MCD.N) is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co Japan Ltd (2702.T), the Wall Street Journal reported, citing people familiar with the situation.
1 min read · 12 January 2017
The former regional heads for Africa at private equity giants KKR and Carlyle are setting up an investment firm, Arkana Partners, to target local equity investments of up to $100 million, Reuters reported.
2 min read · 11 January 2017
Goldman Sachs Group Inc (GS.N) executive Ken Pontarelli, who helped lead the firm's private equity investments in the energy sector, is retiring, according to an internal memo, Reuters reported.
1 min read · 11 January 2017
U.S. venture capital investment continued its slide in the fourth quarter of last year, rounding out a restrained year in startup financing, but not the collapse many had feared, Reuters reported. Investments in venture-backed companies in the United States fell 16 percent to US$11.7 billion from the previous quarter. That was 19 percent below the same period the year before and marked a three-year quarterly low, according to the latest MoneyTree Report from PricewaterhouseCoopers and CB Insights. The decline ended a calmer year after venture capital reached fever pitch in 2015, driving valuations to record levels and raising concerns about another Silicon Valley bubble.
2 min read · 11 January 2017
Valeant Pharmaceuticals International Inc is selling its Dendreon cancer treatment business and three skincare brands for US$2.12 billion as the troubled Canadian drugmaker looks to reduce more than US$30 billion in debt, Reuters reported. The company is trying to regain investor confidence after its stock plunged over the past year amid disclosures that it worked secretly with a specialty pharmacy to boost sales of its medicines. Valeant's major shareholders include U.S. hedge funds, such as William Ackman's Pershing Square Capital Management.
2 min read · 11 January 2017
Brookfield Asset Management said it had submitted alternative proposals regarding its interest in buying bankrupt solar company SunEdison Inc's "yieldco", TerraForm Power IncReuters reported. Canada's largest alternative-asset manager said it would purchase all of TerraForm Power's outstanding shares for US$11.50 in cash for a total consideration of US$1.6 billion. It said it was open to raising the offer to US$12.50 per share in cash if it can also buy SunEdison's other "yieldco", TerraForm Global Inc. Brookfield is TerraForm Power's largest investor, with a 12.12 percent stake.
1 min read · 11 January 2017
GTM Holdings SA, Latin America's No. 1 independent distributor of chemical products, has agreed to pay 550 million reais ($172 million) for Brazilian peer quantiQ Distribuidora Ltda, in an effort to gain more foothold in the region's biggest country, Reuters reported.
2 min read · 11 January 2017
