Siemens is in talks to merge its rail business with that of either France's Alstom or Canada's Bombardier and will pick a preferred partner within days for further negotiations, a source told Reuters. Rail mergers have become a recent trend as global companies seek to contain costs and Western ones struggle with competition from China’s state-backed CRRC Corp. Sources told Reuters in July that Bombardier and Siemens were in the final stages of talks to combine their rail operations. Caisse de dépôt et placement du Québec owns 30 percent of Bombardier’s train business.
2 min read · 21 September 2017
Carlyle Group (CG.O) is targeting the first closing of a new Asia buyout fund within the next couple of months at over $4 billion, three people familiar with the matter said, bulking up in a region that has become a key market for global funds, Reuters reported.
2 min read · 21 September 2017
Albertsons Cos Inc (ABS.N), one of America’s biggest supermarket chains, said on Wednesday it would buy meal-kit delivery service Plated, as it looks to attract more customers to its stores amid increased competition, Reuters reported.
1 min read · 21 September 2017
Private equity firm Permira has postponed plans to sell German business software maker TeamViewer in the hope of fetching a higher price at a later date, German daily Frankfurter Allgemeine Zeitung reported, citing financial sources.
1 min read · 20 September 2017
H.I.G. Capital is nearing a deal to re-acquire Vantage Specialty Chemicals, a US manufacturer of natural additives for personal care, food, consumer and industrial end markets, from fellow private equity firm The Jordan Company for around US$1 billion, sources told Reuters.
2 min read · 20 September 2017
U.S. private equity firm Carlyle Group is quitting its decade-long mining services play in Australia through the A$517 million ($414 million) sale of its controlling stake in the highly leveraged earth-moving equipment provider Coates Hire, Reuters reported.
2 min read · 20 September 2017
A consortium led by Poh Tiong Choon Logistics’ chief executive is offering to take over the Singapore-listed firm in a deal that values it at about S$276 million ($205 million), the latest in a trend of management-led buyouts in the city-state, Reuters reported.
1 min read · 20 September 2017
BAWAG PSK, the Austrian bank majority owned by U.S. private equity group Cerberus Capital Management, expects to formally announce next week whether it will go ahead with a share offer, sources told Reuters.
1 min read · 20 September 2017
Japan’s embattled Toshiba Corp (6502.T) has chosen a group led by U.S. private equity firm Bain Capital to buy its prized memory chip unit, three people with knowledge of the talks said on Wednesday, a last-minute dramatic twist to a highly contentious auction, Reuters reported.
3 min read · 20 September 2017
Brookfield Asset Management is considering increasing its offer for Renova Energia SA by 25 percent, in a bid to sway the two largest investors in the Brazilian renewable power company to exit their controlling stakes, sources told Reuters. Under terms of a revised bid, Brookfield would offer power utility Cia Energética de Minas Gerais SA and subsidiary Light SA 11.25 reais per unit of Renova, the sources said. Brookfield had originally submitted a bid valuing Renova at about 9 reais per unit. Brookfield would have to disburse about 1 billion reais (US$321 million) to win control under a revised bid. It could either pump an extra 800 million reais into Renova or take the company private.
2 min read · 19 September 2017
