Goldman Sachs Group Inc (GS.N) has raised around $7 billion for its new private equity fund, near the top of its targeted goal, sources told Reuters.
1 min read · 14 June 2017
Canadian gaming company Gateway Casinos & Entertainment Ltd is in talks with Asia and North America investors for a sale-lease-back agreement for up to three Vancouver properties worth over $500 million (US$378 million), top company executives told Reuters. The Burnaby, British Columbia-based company expects to sign a deal by the third quarter of 2017, Gateway Executive Chairman Gabriel de Alba said in an interview last week, without disclosing the names of the interested parties. Gateway Casinos was bought in 2010 by Toronto-based private equity firm Catalyst Capital Group, which restructured the company, reduced its debt by about $1 billion, and injected $200 million in new capital.
2 min read · 14 June 2017
Six international companies and funds have made it to the second round of bidding for buyout group Permira's 61.3 percent stake in Israeli irrigation firm Netafim, Israel's Calcalist financial newspaper said on Wednesday.
1 min read · 14 June 2017
An auction for the French luggage brand Delsey has been called off by its private equity owners after failing to generate high enough bids from a handful of international suitors, sources told Reuters.
2 min read · 14 June 2017
Zhonghong Zhuoye Group Co Ltd, the Chinese real estate and leisure group which last month bought a stake in SeaWorld Entertainment Inc (SEAS.N), is in talks to acquire Brookdale Senior Living Inc (BKD.N), Reuters reported.
2 min read · 14 June 2017
U.S. department store operator Neiman Marcus said on Tuesday it had ended talks regarding a partial or full sale of the company, three months after embarking on a review of strategic alternatives under the weight of a $4.8 billion debt load, Reuters reported.
2 min read · 14 June 2017
U.S. department store operator Neiman Marcus Group said it had ended talks regarding a partial or full sale of the company, three months after embarking on a review of strategic alternatives under the weight of a US$4.8 billion debt load, Reuters reported. The company's debt pile made any acquisition very hard to structure. Talks between Neiman Marcus and its suitor Hudson's Bay Co, the Canadian owner of high-end department store Saks Fifth Avenue, had made little progress because of this issue. Neiman Marcus does not face any significant debt maturities until 2020, giving its private equity owners Ares Management LP and Canada Pension Plan Investment Board time to try to turn the business around.
2 min read · 13 June 2017
Canada's Shaw Communications Inc said it would sell its data centre subsidiary ViaWest Inc to Peak 10 Holding Corp for US$1.675 billion, using some of the proceeds to buy airwaves to boost its new wireless unit, Reuters reported. Shaw bought ViaWest from U.S. private equity firms Oak Hill Capital Partners and GI Partners for about US$1.2 billion three years ago. Peak 10 Holding is owned by GI Partners. Analysts were calling on Shaw to sell its data centre business after Verizon Communications Inc and CenturyLink Inc reaped several billions of dollars after agreeing to sell their portfolios last year.
2 min read · 13 June 2017
U.S. hedge fund manager Eddie Lampert-controlled Sears Canada Inc flagged doubts about its ability to continue as a going concern and said it was exploring strategic options, including a sale of the company, following years of losses and falling sales, Reuters reported. Sears Canada's shares slumped as much as 56 percent to 50 Canadian cents in early trading, as investors fretted about whether the company would be able to weather this liquidity crisis before it found a buyer. The company was valued at about $51 million (US$38.5 million) at its lowest stock price on Tuesday, a far cry from the $1.18 billion valuation when it was partially spun off from Sears Holdings Corp in 2012.
2 min read · 13 June 2017
U.S. exchange group Nasdaq Inc has joined a 7 million-euro ($7.9 million) investment round in Stratumn, which helps companies develop applications using blockchain technology, the Paris-based startup said last Thursday.
2 min read · 13 June 2017
