Australia's Westfield Group has agreed to sell stakes in seven US shopping malls to an affiliate of Starwood Capital Group for $1.64 billion, writes Reuters. Shopping mall giant Westfield will keep a 10 percent equity interest in the centres, with Starwood, a private real estate investment company, owning and managing the majority interest.
2 min read · 16 September 2013
Twitter's use of a confidential initial public offering filing has reignited a debate about a 2012 U.S. law that critics say denies investors time to digest a company's financial information and erodes the widely-held value of market transparency, writes Reuters. The social media giant can use the more secretive process thanks to the Jumpstart Our Business Startups (JOBS) Act, which loosened a number of federal securities regulations in hopes of boosting capital raising, and thereby increasing job growth, writes Reuters.
6 min read · 16 September 2013
Henry Kravis, co-founder of private-equity firm KKR, said he sees rising opportunities for dealmaking in Japan as the country's firms open up to foreign partnerships in response to competition from South Korea and China, writes Reuters. KKR hopes to land more deals in the world's third biggest economy - where it had just 9 percent of the value of its Asian portfolio in March - as well as partner Japanese companies on more overseas deals, writes Reuters.
3 min read · 16 September 2013
Private equity firm KKR has teamed up with New Mountain Capital to bid for IMG Worldwide, joining a handful of companies interested in buying the sports, fashion and marketing agency from Forstmann Little & Co, writes Reuters. KKR and New Mountain would be competing for IMG against other buyout firms, as well as sports and entertainment companies, Creative Artists Agency and William Morris Endeavor Entertainment, writes Reuters.
3 min read · 16 September 2013
A handful of potential bidders, including private equity firms, are lining up to look at BlackBerry, but initial indications suggest interest is tepid and buyers are eyeing parts of the Canadian smartphone maker rather than the whole company, writes Reuters. However, one possibility is for a Canadian pension fund to team up with an investor to buy the whole company, which is currently worth a little more than $5 billion, writes Reuters.
3 min read · 16 September 2013
Bahrain-based Investcorp acquired a 25 percent stake in Saudi Arabia's sports and fitness business Leejam Sports Co, the ninth investment in the company's $1 billion Gulf Opportunity Fund, writes Reuters. As part of the deal, Investcorp will have a board seat at Leejam. Financial details were undisclosed.
1 min read · 16 September 2013
(Reuters) From accommodation service Airbnb and storage site Dropbox, to limo-providers Uber, a clutch of hot Silicon Valley names that have steered clear of the markets may now gravitate back if Twitter helps revive investor interest in consumer apps and dotcoms.
4 min read · 14 September 2013
A fund managed by Perella Weinberg Partners LP is looking to sell its rail car leasing business in North America, sources told Reuters this week.
1 min read · 13 September 2013
China's largest technology outsourcing company, Pactera Technology International Ltd, said it received a lower offer to be taken private by Blackstone Group LP and the company's management, Reuters reported.
1 min read · 13 September 2013
Private equity firm Kohlberg Kravis Roberts & Co (KKR) (KKR.N: Quote, Profile, Research, Stock Buzz) has sold its 11 percent stake in Danish telecoms firm TDC (TDC.CO: Quote, Profile, Research, Stock Buzz) for $744 million, taking advantage of a recent surge in telecoms stocks to make a long-expected exit from the business, Reuters reported.
2 min read · 13 September 2013
