Private equity group 3i has sold all of its remaining 16.7 percent stake in German engineering group Norma for about 109 million euros ($142.2 million). Britain's 3i on Thursday said it placed 5.3 million Norma shares with investors for 20.50 euros each and was no longer a shareholder in the German company. That was a discount of about 4.5 percent to Norma's closing share price on Wednesday and below its Frankfurt listing price of 21 euros per share in April 2011.
1 min read · 10 January 2013
Galena, the fund arm of commodities giant Trafigura, said on Thursday it had launched a private equity fund for investing in small to mid-sized miners, filling a void left by banks, Reuters reported. The fund, which has so far raised $275 million, aims to grow to $600 million by year end when it will close to investors, Galena said in a statement. Banks are more wary about the junior mining market due to the fallout from the European debt crisis and new rules designed to shore up balance sheets.
2 min read · 10 January 2013
Leon Black's private equity firm Apollo Global Management and veteran food executive C. Dean Metropoulos have teamed up to bid for bankrupt Hostess Brands' snacks business, the New York Post said.
1 min read · 09 January 2013
U.S. buyout giant KKR & Co. has invested an additional $200 million in Vietnam's noodle and fish sauce retailer Masan Consumer Corp. in the largest single private-equity investment in the Southeast Asian country. KKR did not disclose details of how much of Masan Consumer it holds after its latest purchase of primary and secondary shares. KKR bought a 10 percent stake in Masan Consumer through a $159 million investment in 2011 in what was then the biggest private equity deal in Vietnam. Masan Consumer is a private unit of Ho Chi Minh City listed Masan Group Corp, one of Vietnam's largest private sector business groups with interests from mining to banking and which has a market value of $3.6 billion.
2 min read · 09 January 2013
Global cruise line operator Norwegian Cruise Line Holdings Ltd nearly doubled the estimated size of its initial public offering to up to $487.1 million from $250 million.
1 min read · 08 January 2013
KKR & Co LP has agreed to make a US$40 million follow-on investment in China-focused water treatment and recycling company United Envirotech through a share purchase, the companies said in a statement on Tuesday.
1 min read · 08 January 2013
Computer maker Dell has reported that senior vice president for corporate strategy David Johnson has left the company to take a senior position with Blackstone Group LP, writes Reuters.
1 min read · 08 January 2013
Nuclear waste management company EnergySolutions Inc will be bought by a unit of private equity firm Energy Capital Partners II LLC for $338.5 million in cash, Reuters wrote. The deal has an enterprise value of $1.1 billion, the companies said in a statement.
1 min read · 07 January 2013
Passport Health Communications Inc., a healthcare software company partly controlled by private equity firm Spectrum Equity, is close to announcing a deal to buy Data Systems Group, Reuters reported. Data Systems develops software products that process medical claims. Spectrum and a group of investors including Great Hill Partners and Goldman Sachs Specialty Lending Group, provided $232 million in equity capital to Passport, in a 2008 deal that gave the new investors a controlling stake in the Franklin, Tennessee-based software service company.
2 min read · 07 January 2013
Dutch property group Wereldhave has agreed to sell all its U.S. assets for $720 million to U.S. private equity group Lone Star Funds, Wereldhave said on Monday. Wereldhave, which had earlier announced its intention to leave the U.S. market, said in a statement the total proceeds were about 5 percent above the properties' book value.
1 min read · 07 January 2013
