1 min read · 20 September 2012
The head of CVC Capital Partners' Australian unit has resigned, as the company stares at losses of up to $1.8 billion from its Nine Entertainment buy, dealing a blow to the private equity firm's plans to bed down with the world's elite, Reuters reported Thursday. The departure of Adrian MacKenzie, a key player in the A$5.3 billion ($5.6 billion) debt-funded acquisition of Nine and 17-year veteran at CVC, means the television network could fall into the hands of its lenders while wiping out CVC's equity.
4 min read · 20 September 2012
2 min read · 20 September 2012
1 min read · 20 September 2012
Mutual fund giant Franklin Resources said it will buy a majority stake in funds of hedge funds K2 Associates, writes Reuters. Franklin, which oversees roughly $731 billion in assets, will pay an undisclosed amount for the bulk of K2, which manages $9.3 billion. K2 will use the proceeds to buy back a stake in itself from TA Associates and to retire all of its deb obligations, writes Reuters.
2 min read · 20 September 2012
Bain Capital is in final discussions to buy Apex Tool Group - a joint venture between Danaher Corp and Cooper Industries - for more than $1.5 billion, according to Reuters. Bain is expected to pay between $1.5 billion and $1.8 billion for the business, writes Reuters.
2 min read · 20 September 2012
Private equity firms Advent International and Rhone Group have emerged as the lead bidders for Cytec Industries Inc's coating resins business that could fetch around $1 billion, writes Reuters. The specialty chemicals company has narrowed the list of potential buyers to Advent and Rhone after reviewing final bids, and is expected to make a decision about a buyer soon, writes Reuters.
2 min read · 20 September 2012
How hot are online property listing companies? In the wake of Zillow's successful IPO, Trulia's will price above range, and Accel Partners and Sequoia Capital are not selling any stock--to be priced at $17 per share.
2 min read · 19 September 2012
1 min read · 19 September 2012
LifeLock Inc, a provider of theft and fraud protection services, said it expects to sell 15.7 million shares for between $9.50 and $11.50 per share in an initial public offering.
1 min read · 19 September 2012
