Activist hedge fund Third Point LLC reached an agreement to sell two-thirds of its stake in Yahoo Inc back to the company, pocketing a tidy profit and relinquishing three seats on the board of a company trying to effect a tricky turnaround, Reuters reported.
4 min read · 23 July 2013
Private equity-backed Taiwan cable television operator China Network Systems Co is raising a loan of NT$40 billion ($1.34 billion) to restructure its debt ahead of a proposed Singapore IPO, writes Reuters. MBK Partners, which owns a majority stake in CNS, has hired banks for a business trust IPO worth about $1 billion after Taiwan's regulators blocked its sale of the company, Reuters reported last week.
2 min read · 23 July 2013
Hotel chain Extended Stay America Inc, which is backed by investors including Centerbridge Partners and Blackstone, has filed with regulators to raise up to $100 million in an initial public offering less than three years of emerging from bankruptcy protection, Reuters reported.
2 min read · 22 July 2013
Google Inc will take a 6.3 percent stake in the unit of Taiwanese chipmaker Himax Technologies Inc that develops display technology for devices such as Google Glass, Reuters reported.
1 min read · 22 July 2013
At least four peers of Europe's biggest bathroom equipment maker Grohe submitted exploratory offers for the private-equity owned company by Friday's deadline, writes Reuters. Grohe's owners, TPG Capital and the private equity arm of Credit Suisse, are running a dual-track process that may result in a stock market listing in the autumn, writes Reuters.
2 min read · 22 July 2013
Private equity group CVC Capital Partners has raised 10.5 billion euros ($13.8 billion) for its latest buyout fund to make investments in Europe and North America, writes Reuters. CVC started fundraising in January for Fund VI with a 9 billion euro target, and a cap of 10.5 billion euros which it could not exceed without consent from existing fund investors.
2 min read · 22 July 2013
Buyout firm GTCR LLC is exploring a potential sale of Six3 Systems Inc, which provides intelligence services to national security and defense agencies, and hopes to fetch as much as $1 billion, sources told Reuters.
2 min read · 19 July 2013
Private equity firm Cinven has agreed to buy internet domain and hosting company Host Europe Group from Montagu Private Equity for 438 million pounds ($666 million), sources told Reuters.
2 min read · 19 July 2013
A federal judge on Thursday allowed investors to pursue a closely watched lawsuit accusing several of the world's largest private equity firms of colluding to depress prices on companies they sought to buy, Reuters reported.
3 min read · 19 July 2013
U.S. hedge funds Oaktree Capital Management and Centerbridge Partners on Friday asked Australia's takeover regulator to intervene in surfwear company Billabong International Ltd's $359 million refinancing deal with Altamont Capital Partners, Reuters reported.
2 min read · 19 July 2013
