Reliance Steel & Aluminum has forged a $766 million deal to buy Metals USA Holdings Corp, writes Reuters. Private equity firm Apollo Global Management owns about 53 percent of Metals USA, which went public in April 2010 at an initial offer price of $21.00. The $20.65 offer from Reliance is almost 2 percent below the IPO price, writes Reuters.
2 min read · 07 February 2013
Venture firm VantagePoint Capital Partners, known for its investments in clean technology, has pulled the plug on a planned $1.25 billion fund due to lack of investor interest.
1 min read · 06 February 2013
Private equity funds completed $1.16 billion worth of deals in sub-Saharan Africa in 2012, a near 10 percent increase from the previous year, a survey showed on Tuesday. Funds raised for the region also grew to $1.4 billion last year, from $1.3 billion the previous year, but still far below a 2008 peak, according to data from the Emerging Markets Private Equity Association. Private equity investors are increasingly targeting sub-Saharan Africa, drawn by some of the fastest economic growth rates in the world and an expanding middle class, Reuters wrote. The region is projected to grow around 5 percent in 2013, according to the IMF.
2 min read · 06 February 2013
2 min read · 06 February 2013
2 min read · 06 February 2013
Computer maker Dell Inc. will go private in a $24.4 billion deal that also involves Microsoft Corp and private equity firm Silver Lake, the parties said on Tuesday.They are paying $13.65 per share for the world's No. 3 computer maker.
2 min read · 05 February 2013
Philippine Long Distance Telephone Co. said it will sell a majority stake in its business process outsourcing unit to private equity firm CVC Capital Partners Ltd - a deal that underlines rising interest in the Philippines as an investment destination, Reuters reported. Terms of the PLDT deal were not disclosed, but a source familiar with the matter said last month that PLDT was in exclusive talks with CVC for a deal valued at about $320 million including debt. The deal is also the second that CVC has closed in Southeast Asia in less than a month, after leading a consortium to acquire Malaysia's two main KFC fast food franchises for $1.7 billion.
2 min read · 05 February 2013
WhiteHat Security has secured $31 million in a round of funding that will allow it to expand internationally and help it win more small and medium sized businesses as customers, Reuters reported. The investment was funded by existing financial backer Investor Growth Capital and new investor JMI Equity, bringing total funding to $49 million. WhiteHat, which helps prevent website attacks, was founded in 2001 by former Yahoo information security officer Jeremiah Grossman -- now WhiteHat's Chief Technology Officer.
2 min read · 05 February 2013
The closely guarded performance of some top-tier venture capital funds in which the University of California invested a portion of its $10.65 billion endowment must become public, a judge said on Monday, Reuters reported. No information will come out immediately. The court is giving the university a stay until March 11 to allow the regents a chance to appeal.
4 min read · 05 February 2013
Investment banks Lazard and Messier Maris have been mandated to sell Maisons du Monde, a furniture store chain owned by private equity firms Apax and LBO France, writes Reuters. Lazard and Messier Maris, the boutique bank controlled by former Vivendi chief executive Jean-Marie Messier, were chosen last week to run the process, writes Reuters.
1 min read · 05 February 2013
