Deutsche Telekom is close to a deal to sell 70 percent of its online classified advertising business Scout24 to private equity firm Hellman & Friedman, Bloomberg reported. Citing unidentified sources, Bloomberg reported that the purchase would value the business, including debt, at about 2 billion euros ($2.71 billion) and that an announcement from the German telecoms firm could come this week.
1 min read · 20 November 2013
November 19 (Reuters) - The co-head of Permira, one of Europe's biggest private equity firms, has warned his industry not to get carried away with the cheap credit that has been abundant since central banks flooded financial markets with trillions of dollars.
3 min read · 19 November 2013
PharMEDium Services LLC, a venture capital-backed provider of pharmacy compounding services to hospitals, is in discussions to sell itself for close to $1 billion, sources told Reuters.
2 min read · 19 November 2013
Singapore warehouse and industrial park developer Ascendas has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate, focusing on business space, writes Reuters. Singapore sovereign wealth fund GIC is a principal investor in the programme.
1 min read · 19 November 2013
Dutch food and chemicals group DSM is spinning off its pharmaceuticals division in a $2.6 billion deal with private equity firm JLL, pushing DSM's shares up more than 3 percent, writes Reuters. The new company will develop and manufacture drugs under contract for the pharmaceutical industry and is expected to have annual sales of about $2 billion, DSM and JLL said in a statement.
2 min read · 19 November 2013
Blackstone Group's Antony Leung is leaving his role as greater China chairman to lead a Hong Kong-based property conglomerate, writes Reuters. Blackstone is the second global buyout firm in a week to announce a senior leadership change in Asia, after TPG Capital brought senior partner Tim Dattels back from the United States to co-lead the region.
2 min read · 19 November 2013
Aberdeen Asset Management is to buy Lloyds' fund management arm Scottish Widows for about 660 million pounds ($1.1 billion), creating Europe's No. 1 listed stand-alone fund manager, Reuters reported.
3 min read · 18 November 2013
Former U.S. Treasury Secretary Timothy Geithner, who played a major role in combating the global financial crisis, is joining private-equity firm Warburg Pincus as president and managing director, the firm said on Saturday.
2 min read · 18 November 2013
Food maker Strauss Group is preparing a public offering of its coffee subsidiary on the New York Stock Exchange in 2014, TheMarker financial newspaper reported, writes Reuters. The offering is in accordance with an agreement with private equity firm TPG Capital, which has expressed interest in selling its 25 percent stake in Strauss Coffee.
1 min read · 18 November 2013
Washington-based private equity firm Carlyle Group is keen on potential buys in Malaysia for its part-held businesses in the Middle East and North Africa, according to the The Malaysian Reserve. The decision rides on Carlyle's past experience in Malaysia from the acquisition of a local lighting manufacturer Davex Holdings Bhd at $60 million for its part-owned Saudi Arabian company General Lighting Co Ltd last year, writes the publication.
1 min read · 18 November 2013
