CVC Capital Partners is in early talks with investors with a view to raising $14.1 billion for a European buyout fund in the first half of 2017, Bloomberg reported, citing people familiar with the matter.
1 min read · 21 June 2016
The world's private equity funds, with a cash pile of around US$1 trillion, are stepping up their interest in the oil and gas industry, with almost a half expecting to buy assets in the sector over the next year, Reuters reported, citing the findings of a new survey. Funds' appetite for investments in the sector fell sharply after the start of the oil price route two years ago. But recent signs of a rebound, coupled with abundant assets around the world, are turning the tide, advisory firm EY said in a survey of 100 private equity firms.
2 min read · 21 June 2016
German forklift truck and robotics maker Kion has agreed to buy Dematic from AEA Investors and Ontario Teachers’ Pension Plan to expand into the market for automated warehouses and supply chains that have ballooned with the growth of e-commerce, Reuters reported. Excluding certain liabilities, the purchase price will be about US$2.1 billion. The proposed takeover, which values Atlanta, Georgia-based Dematic at US$3.25 billion, will allow Kion to combine its industrial forklift trucks systems with Dematic's fully automated warehouses to become a one-stop supplier for retailers and logistics companies, Kion said.
2 min read · 21 June 2016
Real estate investment trust Dream Office REIT said it would sell a 50 percent interest in Scotia Plaza, Canada's second tallest office building, to KingSett Capital and Alberta Investment Management Corp (AIMCo), Reuters reported. Dream Office, which would continue to own a 50 percent interest in the property, said it will receive net proceeds of about US$115 million before closing costs and adjustments.
1 min read · 21 June 2016
Intent Media, a privately held company that provides advertising tools for online travel agencies such as Expedia, is buying software startup Voyat in a bid to take travel ad dollars from search giants such as Alphabet Inc's Google, the companies said on Tuesday.
2 min read · 21 June 2016
The world's private equity funds, with a cash pile of around $1 trillion, are stepping up their interest in the oil and gas industry, with almost a half expecting to buy assets in the sector over the next year, Reuters News reported citing a survey.
2 min read · 21 June 2016
McKesson Corp (MCK.N), one of the largest U.S. drug distributors, has held talks about merging its information technology unit with healthcare technology company Change Healthcare Inc, sources told Reuters News.
2 min read · 21 June 2016
Four private equity funds have made it through to the final stages of an auction to buy the Italian wealth arm of Old Mutual as the financial services group presses ahead with a break-up plan, sources told Reuters.
2 min read · 20 June 2016
Essar Steel Algoma Inc said it had agreed to sell its assets to a consortium formed by New York-based private equity firm KPS Capital Partners and its lenders, Reuters reported. The Canadian steel company, which had been purchased nearly a decade ago by Indian energy and resources conglomerate Essar Group, had put itself up for sale while operating under creditor protection. The company manufactures steel products and sells them to the automotive, light manufacturing, construction, shipbuilding and energy industries.
1 min read · 20 June 2016
Electra Private Equity, which has been the focus of a campaign by activist investor Edward Bramson, said on Monday that board members Kate Barker and Francesca Barnes were resigning with immediate effect, Reuters reported.
2 min read · 20 June 2016
