Private equity firms Blackstone Group LP and Apollo Global Management LLC have teamed up to bid for the business of bankrupt U.S. nuclear power plant services firm Westinghouse Electric Co, sources told Reuters.
2 min read · 28 September 2017
Danone’s (DANO.PA) venture capital division is backing French organic baby food start-up Yooji, in the latest example of a big food company turning to a smaller rival whose products promote healthy lifestyles, Reuters reported.
2 min read · 28 September 2017
US buyout firm Leonard Green & Partners has picked lenders that are not subject to regulatory guidelines to lead a US$1.7bn debt financing backing its acquisition of UK intellectual property services provider CPA Global, banking sources told Reuters.
3 min read · 28 September 2017
Steel producer Stelco Holdings Inc, which emerged from bankruptcy protection three months ago, said this week it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of its shares, Reuters reported. Stelco, which is owned by U.S. private equity firm Bedrock Industries Group LLC, is seeking to raise about $185 million (US$150 million) in the share sale and could have a market value of about $1.2 billion (US$1 billion), a source said. Hamilton, Ontario-based Stelco emerged from nearly three years of bankruptcy protection on June 30 after it was able to extinguish its debt and sign new agreements with its unions. This was its second time in bankruptcy court after it emerged from protection in 2007 when U.S. Steel Corp bought the company for US$1.1 billion.
2 min read · 28 September 2017
The U.S. Securities and Exchange Commission suffered a defeat on Wednesday, as a judge said it failed to prove private equity fund manager Lynn Tilton defrauded investors by hiding the poor performance of assets underlying three debt funds, Reuters reported.
2 min read · 28 September 2017
Seagate Technology PLC said on Thursday it would contribute up to $1.25 billion towards the purchase of Toshiba Corp’s chip unit by a consortium led by Bain Capital LP, Reuters reported.
1 min read · 28 September 2017
Private trades in Spotify shares are valuing the music streaming company at about $16 billion, according to people familiar with the deals, raising the prospect of a bumper flotation next year, Reuters reported.
3 min read · 28 September 2017
Japan’s Toshiba Corp said on Thursday it had signed an $18 billion deal to sell its chip unit to a consortium led by Bain Capital LP, overcoming a key - albeit not its last - hurdle as it scrambles for funds to stave off a potential delisting, Reuters reported.
2 min read · 28 September 2017
strong>Lyft Inc is close to hiring an initial public offering (IPO) advisory firm, in the first concrete step by the second biggest U.S. ride service company to become publicly listed, Reuters reported.
3 min read · 28 September 2017
Kik Interactive, which created the global chat platform Kik, valued at US$1 billion, said this week it raised nearly US$100 million in the sale of its own token, below its expectations, Reuters reported. A volatile crypto-currency market has partially reduced demand for token offerings, the Waterloo, Ontario-based company said. In late August, Kik said it expected to raise US$125 million. Kik, a free chat and messaging application, is the first social media application to create its own digital currency. The company considers its token offering a success, noting that more than 10,000 people from 117 countries participated.
3 min read · 27 September 2017
