American Securities is in the lead to buy auto parts suppliers from Carlyle Group LP and KPS Capital Partners LP, in deals that could collectively top $1.5 billion, Reuters reported. Private equity firm American Securities is in advanced stages of negotiating the acquisition of U.S. auto parts supplier Metaldyne from Carlyle for over $800 million, the people said on condition of anonymity because discussions are confidential. New York-based American Securities is also in advanced discussions to buy HHI Group Holdings, which makes forged parts, wheel bearings and powdered metal engine and transmission components for the automotive and industrial sectors, from KPS Capital Partners for more than $700 million, the people added.
3 min read · 01 October 2012
Abu Dhabi Investment Authority, the cash-rich emirate's sovereign wealth fund, has hired Colm Lanigan to head principal investments at its private equities department, it said on Monday. Lanigan was most recently the managing partner of Tara Capital, a New York-based boutique private equity firm that he started in 2005, Reuters wrote.
1 min read · 01 October 2012
Italian notebook maker Moleskine has filed with Italian regulators for an initial public offering of stock in Milan to be held possibly by early November, a partner at majority owner Syntegra Capital told Reuters. The maker of thread-bound jotters based on originals favoured by Vincent Van Gogh and Ernest Hemingway has hired Goldman Sachs, Mediobanca and UBS to run the offering which would make it the third premium Italian brand to go public in little over a year despite a tough economic environment, Reuters wrote.
2 min read · 01 October 2012
Bahrain-based Investcorp acquired a 35-percent stake in Kuwait's car leasing and rental firm Automak Automotive Co., marking the alternative asset manager's sixth investment through its $1 billion Gulf Opportunity Fund. Investcorp did not give financial details of the transaction but said in a statement on Sunday that the deal will be done through a capital injection, Reuters wrote.
1 min read · 01 October 2012
U.S. private equity firm JC Flowers is investing 65 million pounds ($105 million) to help establish a new British mortgage provider and investment company called Castle Trust, Reuters reported Monday. Castle Trust said on Sunday that it will provide UK home-buyers with an extra source of funding in addition to bank lending, as well as offering people the chance to invest in the housing market through saving products linked to house prices.
2 min read · 01 October 2012
Private equity investor KKR has bought UK offshore oil and gas services group Acteon from rival First Reserve, it said on Monday, Reuters reported. Texas-based private equity firm White Deer Energy will take a minority stake alongside KKR, with the remainder of the company owned by management, the groups said. No financial details were disclosed but two people familiar with the situation said the deal valued the company at 800 million to 900 million pounds ($1.3-1.45 billion). First Reserve bought a 52 percent stake in Acteon in 2006 for 70 million pounds.
2 min read · 01 October 2012
Part-nationalized Royal Bank of Scotland has set a price for the planned stock market listing of its Direct Line insurance business which is at the lower end of analysts' expectations, Reuters reported. RBS said on Friday that it would sell the shares at a price between 160 pence and 195 pence per share. The mid-point of that range values the business at 2.66 billion pounds ($4.31 billion).
2 min read · 28 September 2012
BlackRock, the world's largest asset manager, has bought a stake in Moscow's MICEX-RTS bourse ahead of its expected IPO from Russia's state-backed private equity fund, the Russian fund said on Friday. The sale to New York-based BlackRock represents a quick sale for the Russian Direct Investment Fund, which bought a 1.25 percent in the bourse in January and later raised its holding to 2.7 percent, Reuters reported.
1 min read · 28 September 2012
Blackstone Group has agreed to buy the investment unit of real estate finance company Capital Trust Inc., whose chairman is real estate magnate Sam Zell, and to take an 18.2% stake in the company in a deal worth about $30 million, Reuters reported. Blackstone will take over management of CT Investment Management Co. LLC, as well as Capital Trust's co-investment in the fund, for $20 million. It also will spend about another $10 million for the equity stake in the company, which Blackstone will manage.
2 min read · 28 September 2012
Heineken NV won full control of the maker of Tiger beer in a S$7.9 billion ($6.4 billion) deal on Friday, ending a two-month battle aimed at strengthening the Dutch brewer's position in fast-growing Asian beer markets, Reuters reported. Shareholders of Singapore conglomerate Fraser and Neave Ltd. backed the sale of their stake in Asia Pacific Breweries to the world's third largest brewer. Their vote ended the battle between Heineken and companies linked to Thai billionaire Charoen Sirivadhanabhakdi for control of APB, which operates 30 breweries across 14 countries from Mongolia to New Zealand, Reuters wrote.
4 min read · 28 September 2012
