Private Equity
China’s HNA Group is in talks with banks to find a buyer for its CWT logistics unit, nine months after it acquired the Singaporean business in a $1 billion deal, several people familiar with the matter told Reuters.
2 min read · 19 September 2018
South Africa-based financial technology firm JUMO plans to expand in high-growth Asian markets after securing the backing of Goldman Sachs (GS.N) in an equity funding round, the company’s chief executive said.
2 min read · 18 September 2018
Toshiba Corp is in talks with Canada’s Brookfield Asset Management for the potential sale of its U.K. nuclear unit NuGen, a source told Reuters. Brookfield has emerged as one of several new candidates since Korea Electric Power Corp lost its preferred bidder status in July, the source said. The NuGen project in Moorside, northwest England, was expected to provide around 7 percent of Britain’s electricity, but faced setbacks after Toshiba’s nuclear arm Westinghouse Electric Co LLC went bankrupt last year. Brookfield's private equity group acquired Westinghouse earlier in 2018 for US$4.6 billion.
1 min read · 18 September 2018
Shares in Danish jeweler Pandora (PNDORA.CO) jumped as much as 10 percent on Tuesday following a media report that private equity funds are studying a potential takeover bid, Reuters reported.
1 min read · 18 September 2018
The term loan financing backing U.S. private equity firm Blackstone Group’s purchase of a 55 percent stake in Refinitiv, Thomson Reuters’ Financial and Risk division, has been increased to US$9.25 billion from US$8 billion and the high-yield bonds have been reduced, Reuters reported. A strong response from the loan market, particularly from the United States, also allowed pricing to be cut, and relatively minor investor-friendly changes to be made to the documents. The successful conclusion of the jumbo new-money loan is expected to set a positive tone for the market until the end of the year, bankers said.
3 min read · 17 September 2018
Kinder Morgan Inc has hired investment bank TD Securities to facilitate a potential sale of its Canadian business, which could fetch as much as $2.4 billion, sources told Reuters. Should the move succeed, it would mark the exit of the U.S. pipeline giant from Canada, having closed its sale of the Trans Mountain pipeline to the Canadian government for about $4.5 billion at the end of last month. The bidding for the business is expected to come from midstream companies, private equity firms and infrastructure funds. Kinder Morgan would likely keep the assets if it does not get a good price as they generate solid cash flows.
3 min read · 14 September 2018
Australian office owner Investa Office Fund has postponed a shareholder meeting regarding a takeover offer from U.S. private equity firm Blackstone Group after receiving a rival bid, Reuters reported. Investa said it would engage with Oxford Properties Group over a possible binding proposal after the Canadian landlord sweetened its bid for the company this week. Oxford, the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS), had offered A$5.60 for each share in Investa, A$0.10 higher than Blackstone’s offer and valuing Investa at A$3.35 billion.
1 min read · 14 September 2018
Canadian landlord Oxford Properties Group has sweetened its bid for Australian office owner Investa Office Fund to A$5.60 (US$4.02) per share, escalating a bidding war with U.S. private equity giant Blackstone Group, Reuters reported. Oxford’s new offer, backed by a top Investa shareholder, ICPF, is A$0.10 per share higher and values Investa at A$3.35 billion (US$2.41 billion). It comes just ahead of a meeting scheduled for Monday where Investa shareholders are set to vote on Blackstone’s rival bid. Oxford is the real estate investment arm of the Ontario Municipal Employees Retirement System (OMERS).
2 min read · 13 September 2018
Adobe Systems Inc (ADBE.O), the maker of image-editing software Photoshop, is in negotiations to buy Marketo Inc, a privately held cloud-based marketing software company, Reuters reported.
2 min read · 13 September 2018
Japan’s Pioneer Corp secured a bailout worth up to 60 billion yen ($540 million) from Baring Private Equity Asia, after failed bets on car navigation and audio systems saddled it with debt and pushed it into the red, Reuters reported.
3 min read · 13 September 2018
