Dell Inc moved closer to a nearly $24 billion buyout deal, with price negotiations narrowing to $13.50 to $13.75 a share in what would be the biggest leveraged buyout since the financial crisis.
2 min read · 04 February 2013
Shares of Malaysia's MISC Bhd rose as much as 17 percent after the shipping firm's major shareholder Petroliam Nasional Bhd made an 8.8 billion Malaysian ringgit ($2.8 billion) buyout offer, equal to 5.30 ringgit per share, Reuters reported. Petronas, Malaysia's state oil company, owns 62.7 percent of the shipping firm.
1 min read · 04 February 2013
British private equity group 3i said on Monday its head of Asia operations Anil Ahuja and a senior India executive will be leaving the company, writes Reuters. Samir Palod has been named head of the India team.
1 min read · 04 February 2013
RRJ Capital, a Hong Kong firm led by prominent Asia dealmakers the Ong brothers, has raised $3.5 billion for its second fund, making it the second-largest Asia Pacific-based private equity fund ever raised, Reuters reports.
2 min read · 01 February 2013
LDK Solar Co Ltd said China Development Bank Corp approved a loan of 440 million yuan ($71 million), adding to the billions of dollars Chinese state-run banks have already provided to support the country's solar industry, Reuters reported. LDK shares were up 8.4 percent at $1.67 in afternoon trading on the New York Stock Exchange. The loan will be used to finance LDK's investment in hydrochlorination technology for the Mahong polysilicon plant in Jiangxi province, in which LDK has invested more than 12 billion yuan to date.
2 min read · 01 February 2013
U.S. college and university endowments posted an average loss of 0.3 percent for fiscal 2012, a sharp reversal from a gain of 19.2 percent a year earlier, pressured by volatile international equity markets, according to a study released on Friday. Institutions with the biggest endowments reported the highest returns, according to a study by Commonfund Institute and the National Association of College and University Business Officers, Reuters wrote. For the fiscal year ended June 30, 2012, endowments of more than $1 billion had the best returns, with a gain of 0.8 percent. The lowest rate of return was for endowments with assets between $51 million and $100 million, at a loss of 1.0 percent, the study showed.
3 min read · 01 February 2013
Dell Inc. is nearing an agreement to sell itself to a buyout consortium led by its founder and Chief Executive Michael Dell and private equity firm Silver Lake Partners, possibly announcing a deal as soon as Monday, Reuters reported, citing two people familiar with the matter. Michael Dell is expected to take majority ownership of the world's third-largest personal computer maker, which currently has a market value of $23 billion, while Silver Lake and Microsoft Corp. would become minority investors, a third person familiar with the matter said. The final price the group is expected to pay Dell shareholders could not be immediately learned. The deal would mark the largest leveraged buyout since the global financial crisis.
2 min read · 01 February 2013
RRJ Capital, a Hong Kong firm led by prominent Asia dealmakers the Ong brothers, has raised $3.5 billion for its second fund, Reuters reported, making it the second-largest Asia Pacific-based private equity fund ever raised. The firm - run by Malaysia-born Richard Ong, formerly of Goldman Sachs Group Inc, and Charles Ong, who worked for Temasek Holdings Pvt Ltd and Lazard - is expected to finalise the fund in early March, after setting out to raise $5 billion, Reuters reported.
2 min read · 01 February 2013
Private equity firms including Carlyle and KKR this week submitted non-binding offers for control of French fashion brands Maje, Sandro and Claudie Pierlot, sources familiar with the transaction told Reuters. First-round bids submitted on Tuesday gave the three brands - partly controlled by France's richest man, luxury goods mogul Bernard Arnault - an enterprise value of more than 650 million euros ($880 million), the sources said.
3 min read · 01 February 2013
British private equity group 3i is to focus on further asset disposals over the coming months, saying that it intends to build on strong progress made in its efforts to restructure the business, Reuters reported. Since shareholder frustration at poor share price performance and weak results from its buyout business forced a change in chief executive last year, the owner of women's fashion retailer Hobbs and Tommee Tippee baby bottle maker Mayborn has been on a drive to reboot its flagging fortunes.
3 min read · 31 January 2013
