Private equity owners are preparing to take HD Supply public, nearly six years after buying the industrial distribution company out of Home Depot Inc for $8.5 billion, Reuters reported on Monday. Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, the buyout firms who jointly led the deal in 2007, plan to interview investment banks next week to select underwriters for the proposed initial public offering.
2 min read · 05 March 2013
KKR is nearing a deal to buy industrial machinery maker Gardner Denver Inc and could announce the agreement in the next few days, writes Reuters. The two parties have been negotiating a final deal price and other last-minute details over the past week, after KKR bid $75 per share, or nearly $3.7 billion, for Gardner Denver, on Feb. 21, writes Reuters.
1 min read · 05 March 2013
Goldman Sachs Group Inc is trying to work around a financial reform regulation to keep investing in the profitable, albeit risky, business of buying and selling companies, sources tell Reuters.
5 min read · 04 March 2013
Carlsberg has launched a partial take-over bid worth 2.65 billion Danish crowns ($461.49 million) for 30.31 percent of the shares in Chongqing Brewery Company, Reuters reported Monday. If the bid of RMB 20 per share is successful Carlsberg, which announced its immediate plans to up its stake in the Chinese brewery last week, will gain control of CBC and potentially own up to 60 percent of the shares.
2 min read · 04 March 2013
Buyout group CVC Capital Partners has appointed former Lloyds Banking Group boss Eric Daniels as a senior adviser in its Global Financial Institutions Group. Daniels was group chief executive at Lloyds. He stepped down in 2011 from Lloyds, which he first joined in 2001 as a group executive director, Reuters wrote..
1 min read · 04 March 2013
Berkshire Hathaway Inc. is on the hunt for more deals like its planned purchase of H.J. Heinz Co, Warren Buffett, the conglomerate's chief executive, said on Monday, Reuters reported. Berkshire likes the ketchup maker's business, the price of the $23 billion deal, and its partner in the transaction, private equity firm 3G Capital, Buffett said in an extended interview.
1 min read · 04 March 2013
Chinese e-commerce giant Alibaba Group is back in the loan market with an eye on a jumbo financing of up to $8 billion to refinance existing debts, barely a year after borrowing $4 billion in loans, according to Basis Point. The borrower is said to have approached lenders seeking proposals for the loan, proceeds from which will refinance US$4bn in loans put in place last year as well as fund Alibaba's obligations under a $7.1 billion share buyback deal it struck with Yahoo Inc. last May.
2 min read · 04 March 2013
Private equity firm Carlyle Group LP and its Dutch asset manager arm AlpInvest Partners said on Monday the Indiana Public Retirement System has committed $150 million for the firm to invest in companies and other funds based in, or affiliated with, the state, Reuters reported. Investments can be in private equity, credit, real estate or infrastructure, said Carlyle, which will run Indiana Investment Fund II on behalf of the state's public pension fund.
2 min read · 04 March 2013
Private equity firm CVC is in talks on a bid for Britain's largest retirement home builder McCarthy & Stone, writes Reuters. The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and hedge funds.
2 min read · 04 March 2013
Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze's three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world's largest electronics retailer, writes Reuters.
1 min read · 04 March 2013
