Supervalu Inc said it would sell its Save-A-Lot business to Canadian private equity firm Onex Corp for US$1.37 billion, more than a year after making public plans to spin off the discount grocery chain, Reuters reported. Save-A-Lot has a network of about 1,370 company-owned and licensed stores across 37 states in the United States, the Caribbean and Central America. Onex made the best offer in an auction for Save-A-Lot, Reuters reported in September.
2 min read · 17 October 2016
Supervalu Inc (SVU.N) said it would sell its Save-A-Lot business to Canadian private equity firm Onex Corp (OCX.TO) for $1.37 billion, more than a year after making public plans to spin off the discount grocery chain, Reuters reported.
1 min read · 17 October 2016
BC Partners, Blackstone and CVC are among the private equity firms expected to make non-binding bids on Monday for German bandage and plaster cast maker BSN Medical, several people close to the matter said.
2 min read · 14 October 2016
PepsiCo Inc (PEP.N) is nearing a deal to acquire sparkling probiotic U.S. drinks company KeVita Inc, sources told Reuters, in the latest push by the carbonated beverage giant to diversify its soft drinks business.
2 min read · 14 October 2016
European equity funds posted their 36th straight week of outflows, with money that has left the asset class this year now approaching $100 billion, Bank of America Merrill Lynch said, citing data from EPFR Global.
1 min read · 14 October 2016
A number of buyout groups are expected to hand in tentative offers for building materials maker Xella by a Monday deadline in a potential 2 billion euro ($2.2 billion) deal, as its private equity owners try to benefit from high company valuations, sources told Reuters.
2 min read · 14 October 2016
India's Reliance Communications Ltd is selling a 51 percent stake in its tower assets to Canada's Brookfield Infrastructure Group for US$1.65 billion, in a deal that will help cut the phone carrier's huge debt, Reuters reported. The company will use the proceeds of the deal with Brookfield "solely" to repay debt, it said. Controlled by billionaire Anil Ambani, Reliance Communications is the most leveraged among listed Indian phone carriers with its US$6.3 billion net debt being more than five times its operating profit.
2 min read · 14 October 2016
A leading hedge fund investor in British betting company William Hill Plc, Parvus Asset Management, said it would oppose any reverse takeover of Canadian company Amaya Inc, given its "limited strategic logic," Reuters reported. Amaya and William Hill confirmed this week that they are in talks about combining in a merger of equals. Parvus said a deal would "destroy shareholder value" and wanted William Hill to pursue alternative options.
3 min read · 13 October 2016
Power tool maker Stanley Black & Decker Inc (SWK.N) is working with investment bank Goldman Sachs Group Inc (GS.N) on a sale process for its mechanical locks business, which could fetch as much as $1 billion, sources told Reuters.
2 min read · 13 October 2016
Belgian plant in German car parts maker Robert Bosch has attracted interest from private equity firms as well as Chinese groups for its starter motor and generator business, sources told Reuters.
1 min read · 13 October 2016
