Japanese financial services firm Orix Corp and Australian bank Macquarie Group Ltd have emerged as leading candidates to buy the asset management arm of Dutch bank Rabobank, Robeco, writes Reuters. The Netherlands-based retail bank also received bids from a private equity consortium of Advent International and CVC Capital Partners and Boston-based asset manager AMG partnered with buyout firm Permira, Reuters previously reported.
2 min read · 16 October 2012
Abraaj Capital, the Middle East's largest private equity firm, is considering selling shares in its Egyptian medical laboratories business in 2013 and hopes to deploy as much as $800 million in new deals, its chief executive said on Monday, Reuters reported. The Dubai-based firm's portfolio company, Al Borg Laboratories, entered into a merger agreement with Al Mokhtabar Laboratories in August to create Integrated Diagnostics Holding, the biggest medical laboratories business in the region. Before that deal, Abraaj owned about 99 percent of Al Borg.
3 min read · 15 October 2012
Virgin Mobile is raising up to $100 million (62 million pounds) from investors and private equity groups to roll out the Virgin Mobile brand to at least six new markets, the Financial Times reported on Monday. Virgin Mobile, a mobile virtual network operator that aims to reach $3 billion in worldwide revenues by 2020, is seeking to expand to Brazil, Colombia, Chile, Poland, South Africa and Oman. It currently has 18 million subscribers in nine countries.
1 min read · 15 October 2012
Singapore precision engineering firm United Test & Assembly Center is the latest private equity-backed company in Asia to turn to the high-yield bond markets to refinance buyout loan debt, seeking to raise around $600 million, sources with knowledge of the matter told Reuters. UTAC was acquired by buyout funds Affinity Equity Partners and TPG Capital for $1.25 billion in 2007 using loan debt of around $725 million.
2 min read · 15 October 2012
Private equity investor Advent plans to make a formal takeover offer for Douglas after reaching a deal with the biggest shareholders of the German retailer, writes Reuters. Advent is joining forces with one of Douglas's current shareholders in an effort to take the books-to-perfumes retailer private, writes Reuters.
2 min read · 15 October 2012
Private equity firm Cinven has raised 4 billion euros ($5.2 billion) from investors for new deals, writes Reuters. The private equity group started raising its fifth buyouts fund last year, seeking about 5 billion euros to buy companies in Europe.
1 min read · 15 October 2012
Japanese mobile operator Softbank Corp said on Monday it will buy up to 70 percent of US carrier Sprint Nextel Corp for about $20.1 billion - the most a Japanese firm has spent on an overseas acquisition, writes Reuters. The deal will provide Softbank entry into a US market that still shows growth, while Japan's market is stagnating, writes Reuters.
5 min read · 15 October 2012
Virgin Money has emerged as a frontrunner in a small field of potential suitors to buy 316 branches from majority state-owned Royal Bank of Scotland, after Santander pulled out of a deal, writes Reuters. The collapse of the sale was a major blow to RBSas it is now likely to have to accept a price well under the 1.65 billion pounds ($2.65 billion) agreed with Santander, writes Reuters. US private equity firm JC Flowers is also interested in a potential bid, with the firm keen to expand its small regional lender One Savings Bank, the Financial Times reported.
3 min read · 15 October 2012
(Reuters) - Shares of Workday Inc soared 72 percent in their market debut on Friday, as the market for enterprise software continues to hold strong.
1 min read · 12 October 2012
Russian private healthcare company MD Medical Group's London share listing made a smooth start on Friday, Reuters reported. The health clinc and hospital operator said it expected the sale of new and existing shares to raise $311 million, assuming an over-allotment option was taken up, and put its market capitalisation at around $900 million. Russia's state-backed private equity fund RDIF, funds of asset manager BlackRock, private equity firm Siguler Guff's Russia Partners, and others spent $50 million in the share offer, Reuters wrote.
2 min read · 12 October 2012
