Britain-based hedge fund Meditor Capital Management Ltd said it would shut down its European equity business, citing an internal review and new European rules that restrict short-selling, Bloomberg reported.
1 min read · 06 December 2013
Private equity firm Thoma Bravo LLC is exploring a sale of two of its portfolio companies, Hyland Software Inc and LANDesk Software Inc, which could collectively be worth more than $2 billion, sources told Reuters.
2 min read · 06 December 2013
Italian utility Enel said on Friday it had signed a deal with investment fund F2i and private equity firm Ardian to sell its 14.8 percent stake in Enel Rete Gas in a deal valued at 122.4 million euros ($167 million), Reuters reported.
1 min read · 06 December 2013
Sanders Walker had been working for 13 years at a BWAY Corp factory in Macon, Georgia, when the word came down one September 2011 morning: The company, a maker of plastic and metal containers, was closing the plant. Walker, a quality manager, and about 70 other employees were out of work.
10 min read · 06 December 2013
Private equity group KKR has struck a deal to restructure the debt of loss-making German car repair chain Auto-Teile Unger (ATU), drawing a line under an ill-fated investment.
1 min read · 05 December 2013
French private equity firm Wendel said on Thursday that its building materials business Materis is in exclusive talks to sell calcium aluminates maker Kerneos to buyout firm Astorg Partners for 610 million euros ($827 million), writes Reuters. The deal, which represents a multiple of 8.4 times earnings before interest, tax, depreciation and amortisation over the 12 months to Sept. 30, could be finalised in 2014 after consultation with employee representative bodies and subject to regulatory approvals.
1 min read · 05 December 2013
UBS said its operations chief Ulrich Koerner would run its asset management arm when its head retires next year, writes Reuters. The Swiss bank said Koerner would hold onto his job as head of Europe, the Middle East and Africa but would no longer be head of operations from January 1, when he replaces John Fraser as chief executive of asset management. In turn, the operations role will go to finance chief Tom Naratil, who adds it to his existing brief, writes Reuters.
2 min read · 05 December 2013
Private equity group KKR has struck a deal to restructure the debt of loss-making car repair chain Auto-Teile Unger, writes Reuters. KKR and ATU's management have agreed on the main points of a debt-for-equity swap with the repair firm's main creditors, credit investment groups Centerbridge and Babson Capital as well as funds managed by Goldman Sachs, writes Reuters.
1 min read · 05 December 2013
Zalora, an online fashion start-up in Southeast Asia, has raised $112 million (68 million pounds) in new capital from investors including billionaire Leonard Blavatnik's Access Industries and U.S. asset management firm Scopia Capital Management, Reuters reported.
2 min read · 04 December 2013
Shares in Australian electronics retailer Dick Smith Holdings Ltd debuted around their offer price on Wednesday after its $315 million initial public offering generated solid demand and a strong, swift return for its private equity owners.
2 min read · 04 December 2013
