Private equity group HgCapital has mandated Goldman Sachs to look for a buyer for Schleich, the maker of Smurfs toys and other plastic figurines, two sources familiar with the plans said on Friday. The auction will start at the beginning of next year, one of the sources said. On its Internet page, HgCapital signalled that Schleich would eventually be put on the block .
2 min read · 05 October 2012
Apollo Global Management is proposing a merger of its Core Media Group and Endemol, the TV production house behind "Big Brother," a Wall Street Journal report said. Apollo owns about 30 percent of Endemol, and depending on the value put on Core, Apollo could emerge with control of the combined company if the deal goes through, Reuters wrote.
1 min read · 05 October 2012
Dave & Buster's Entertainment Inc. withdrew its planned IPO, citing volatile market conditions, a day before it was to start trading on the New York Stock Exchange. The Dallas-based company in September said it planned to sell about 7.7 million shares at between $12 and $14 each. It had filed for an IPO of up to $150 million last July. Dave & Buster's is majority backed by Oak Hill Capital Partners.
1 min read · 05 October 2012
CVC Partners is exploring the sale of Indonesia's PT Matahari Department Store, sources told Reuters, seeking a price tag of more than $2 billion after paying less than half that for the company two-and-a-half years ago. A successful sale of fast-growing Matahari, Indonesia's biggest department store chain, would likely allow CVC to earn a strong investment return ahead of an expected fundraising push for its next Asia fund, the sources said.
3 min read · 05 October 2012
Struggling clothing retailer Wet Seal Inc. said it has replaced four of its board members with Clinton Group nominees after several attempts by the shareholder to take control of the company. Clinton, which holds about 7 percent of the company, has argued that Wet Seal's management has made several mistakes in running the company, resulting in poor performance over the last five years.
1 min read · 05 October 2012
Cash-strapped Japanese semiconductor materials maker Covalent Materials Corp., backed by private equity firms Carlyle Group LP and Unison Capital, has struck a deal with its bondholders to buy back some of the securities, thereby averting a default, Reuters wrote. The company said in July that it did not have enough cash to repay 53.3 billion yen ($679 million) in bonds maturing in February and sought extension of the maturity date. Later it had also offered to buy back the bonds at 76 yen against the face value of 100 yen.
2 min read · 05 October 2012
(Reuters) - Shares of Berry Plastics Group Inc, backed by private equity firm Apollo Global Management, fell almost 5 percent in their stock market debut on Thursday.
1 min read · 04 October 2012
U.S. private-equity firm Carlyle Group is selling its 3.7 percent stake in India's top mortgage lender Housing Development Finance Corp. Ltd in a deal to raise as much as $861 million, according to a term sheet seen by Reuters on Thursday. Carlyle is selling about 57 million shares of HDFC in the price band of 760 rupees to 781.25 rupees a share, a discount of 1-3.7 percent from Thursday's closing price of 789.05 rupees, the term sheet said.
1 min read · 04 October 2012
TPG Capital Management LP's $700 million bid for Billabong International Ltd. is still on the table, although the struggling Australian surfwear retailer needs to address some concerns raised by the private equity firm. Texas-based TPG, the last remaining bidder for Billabong, was considering formally withdrawing its takeover bid after weeks of due diligence, the Australian Financial Review said earlier on Thursday, citing unidentified sources, sending the surfwear company's shares tumbling by almost a fifth, Reuters wrote.
3 min read · 04 October 2012
Private equity firm Carlyle Group has hired BNP Paribas and Deutsche Bank to arrange a 260 million pound ($418 million) loan for UK roadside rescue business RAC to pay itself a dividend. Bank of America Merrill Lynch, Credit Suisse, HSBC, JPMorgan and UBS are also bookrunners on the deal, the banks and the company said in a statement.
1 min read · 04 October 2012
