Heavily indebted casino operator Caesars Entertainment Corp said it would split itself into two companies, with private-equity firms Apollo Management LP and TPG Capital intending to invest $250 million each in a new growth-oriented business, Reuters is reporting.
1 min read · 23 April 2013
Kallista has acquired two wind farms, writes Reuters. Axa Private Equity has backed the transaction.
1 min read · 23 April 2013
Tony Fadell, the designer known as the godfather of Apple Inc's iPod, is enlisting several of the country's largest power utilities to get his power-saving creation, the Nest thermostat, into more U.S. households, writes Reuters. Nest Labs, the company he co-founded in 2010 with designers and engineers from Silicon Valley firms like Apple and Google Inc, is teaming up with six utilities to provide incentives for using its thermostats.
3 min read · 23 April 2013
CA Technologies is to acquire Layer7, according to VentureBeat, writes Reuters. Neither company disclosed the terms of the acquisition. Layer7, founded in 2003, had raised about $20 million from BDC Venture Capital, GrowthWorks Capital, and Shoreline Venture Management.
2 min read · 23 April 2013
French hotel chain Accor's chief executive may be ousted by the company's board following shareholder impatience with its weak share performance in recent months, writes Reuters. Denis Hennequin, the former CEO of McDonald's Europe who took the top job at Accor after his predecessor quit in 2010, has been accused of taking too long to overhaul the company, writes Reuters.
2 min read · 23 April 2013
(Reuters) - GlaxoSmithKline said on Monday it will partner with venture capital firm Avalon Ventures in a deal worth up to $495 million to fund as many as 10 drug-discovery startups over the next three years.
2 min read · 23 April 2013
(Reuters) - Credit Suisse Group AG has agreed to sell a private equity business to Blackstone Group. The business, named Strategic Partners, has $9 billion in assets under management and has completed over 700 transactions and acquired over 1,400 underlying limited partnership interests since its launch in 2000.
2 min read · 23 April 2013
Reuters - A debt financing of more than 2 billion euros ($2.62 billion) backing the 3.1 billion euro ($4.06 billion) purchase of German metering firm Ista by private equity firm CVC will be a mix of leveraged loans and high-yield bonds, writes Reuters. CVC trumped rival BC Partners to buy a 76 percent stake from co-owner Charterhouse last week in Germany's largest private equity deal since 2008, writes Reuters.
2 min read · 22 April 2013
TPG Capital is putting China's UniTrust Finance & Leasing Corp up for sale, seeking $800 million, writes Reuters. Morgan Stanley and UBS are handling the deal.
2 min read · 22 April 2013
London-based private equity fund Pamplona Capital Management is in talks to buy a majority stake in Turkish hospitals group Medical Park, writes Reuters. U.S. private equity firm Carlyle Group acquired a 40 percent stake in Medical Park in 2009 for an undisclosed amount alongside businessmen Muharrem Usta and Haydar Sancak, who each own 30 percent.
1 min read · 22 April 2013
