Bain Capital plans to be the biggest investor in Toshiba Corp's (6502.T) chip unit, providing 850 billion yen ($7.7 billion) in equity as part of a consortium that also includes Japan government investors, sources told Reuters.
1 min read · 21 June 2017
BAWAG PSK is moving ahead with preparations for an initial public share offer that could value the Austrian bank at up to 5 billion euros ($5.6 billion) and has picked a lead organizer, sources told Reuters.
2 min read · 21 June 2017
U.S. hedge fund manager Eddie Lampert-controlled Sears Canada Inc is preparing to seek court protection against creditors in the coming weeks, a source told Reuters. The business may be sold off in pieces after the court filing which will likely lead to liquidation, the source said. The company had last week said it was exploring strategic options, including a sale of the company, following years of declining sales.
1 min read · 21 June 2017
Privately owned BMC Software has contacted banks about putting together a financing package for an acquisition offer for enterprise software maker CA Inc (CA.O), Reuters reported.
1 min read · 21 June 2017
Payless ShoeSource Inc settled a dispute with its creditors on Tuesday, after creditors alleged that the company's private equity owners inappropriately siphoned off $400 million before the U.S. retailer's bankruptcy, Reuters reported.
2 min read · 21 June 2017
Uber Technologies Inc Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday under mounting pressure from investors over his leadership, Reuters reported.
2 min read · 21 June 2017
Metals recycler Befesa has attracted bids from several private equity groups as its owner mulls whether to list the company on the stock exchange or opt for an outright sale, Reuters reported.
1 min read · 20 June 2017
Canadian lender Home Capital Group Inc said it would sell a portfolio of commercial mortgage assets valued at $1.2 billion (US$904 million) to real estate private equity firm KingSett Capital, Reuters reported. Proceeds from the sale will bolster its liquidity and trim outstanding debt on a $2 billion emergency facility it agreed with the Healthcare of Ontario Pension Plan (HOOPP) in April. HOOPP's expensive bridge financing came with an effective interest rate of 22.5 percent on the first $1 billion drawn down. That affected the company's ability to originate new mortgages since it could not afford to lend money at lower rates than its cost of borrowing.
2 min read · 20 June 2017
Genealogy website Ancestry.com Inc on Monday said it had confidentially submitted a draft registration statement on a proposed initial public offering (IPO) to the U.S. Securities and Exchange Commission.
1 min read · 20 June 2017
German broadcaster ProSiebenSat.1 is selling Sweden-based Etraveli, with an enterprise value of 508 million euros (445.3 million pounds), to CVC Capital Partners as part of a strategic review of its online travel businesses, Reuters reported.
1 min read · 20 June 2017
