Smartphone app developer Shazam has found an unlikely ally in the form of Carlos Slim, one of the world's richest men, who is investing $40 million to back the development of the start-up best known for helping music fans identify catchy songs, Reuters reported.
3 min read · 08 July 2013
Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to buy as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group, Sky News reported, writes Reuters. US private equity firm Corsair Capital, where Davies is a partner, will be part of the consortium but will not buy the stake on its own, Sky said, adding the deal will be structured to acquire the Lloyds stake close to the current share price, writes Reuters.
2 min read · 08 July 2013
Kate Swann, a former chief executive of British books and stationery retailer WH Smith, has been appointed chief executive of SSP, an operator of food and beverage brands in travel locations, writes Reuters. SSP is backed by EQT.
1 min read · 08 July 2013
Norwegian fish farmer Cermaq has received a rivalling indicative bid for its fish feed arm, EWOS, that it will pursue in parallel with the $1.1 bid from private equity firms Bain and Altor, writes Reuters. It aims to have a definitive agreement for the sale of EWOS executed in mid-July.
1 min read · 08 July 2013
Shares of Dell Inc fell more than 3 percent on Friday, as investors grew skeptical that founder Michael Dell and Silver Lake Partners will raise their $24.4 billion buyout bid in order to overcome growing opposition.
2 min read · 05 July 2013
Private equity firms 3i and Allianz Capital Partners may put the auction of ferry group Scandlines on hold after failing to agree on a price with the remaining bidder, a source told Reuters.
1 min read · 05 July 2013
Seibu Holdings Inc and top shareholder Cerberus Capital Management LP said they met on Friday as the two sought to end a highly public dispute over the Japanese railway and hotel group's planned stock listing, Reuters reported.
2 min read · 05 July 2013
Swedish private equity firm EQT has hired Morgan Stanley for the sale of gas grid operator Swedegas, which could fetch more than 500 million euros ($650 million), sources told Reuters.
1 min read · 05 July 2013
Some Dell Inc shareholders said on Wednesday they are pressuring the board to come up with a contingency plan should a proposed $24.4 billion buyout of the No. 3 PC maker fail in the face of investor opposition, Reuters reported.
2 min read · 05 July 2013
Buyout firm Francisco Partners LP said on Wednesday that GXS Worldwide Inc, the provider of electronic commerce services it has majority control of, was planning an initial public offering after it explored an outright sale of the company, Reuters reported.
3 min read · 05 July 2013
