Western Europe

Cerberus sought to bail Japan’s JVC(2)

Kenwood, a Japanese maker of audio equipment may reportedly seek financial backing from Cerberus to bid for JVC, a Japanese consumer electronic brand that TPG had been keen to acquire. Talks between TPG and JVC parent Matsushita are believed to have collapsed.

Three Delta ups stake in Sainsbury’s to 25%(3)

The investment vehicle of Qatari property investment fund Three Delta has upped its stake in Sainsburys. The FTSE 100 listed UK supermarket’s shares leapt by nearly 5 percent, as speculation suggested a takeover bid was forthcoming.

3i and Litorina sell Q-Matic to Altor for bumper gain(2)

UK buyout firm 3i and Swedish buyout firm Litorina Kapital have sold Q-Matic to Nordic buyout firm Altor, making a nine times return on their initial investment and registering a 150 percent IRR over three years.

Cerberus sought to bail Japan’s JVC

Kenwood, a Japanese maker of audio equipment may reportedly seek financial backing from Cerberus to bid for JVC, a Japanese consumer electronic brand that TPG had been keen to acquire. Talks between TPG and JVC parent Matsushita are believed to have collapsed.

Balderton increases Codemasters stake amid float rumours(2)

Balderton Capital, the European venture firm that recently spun out of US group Benchmark Capital, has increased its stake in Codemasters, a UK-based video game develop, by buying out the company’s founders. The firm is simplifying the ownership structure ahead of a possible flotation.

Colony seals biggest ever African buyout

US private equity firm Colony Capital has agreed to buy oil refining and distribution company Tamoil from the Libyan government for €4 billion. It is the biggest private equity deal to date for an African-owned company – trumping Bain Capital’s $3.5 billion buyout of Edgars in February.

Boots pension trustees win £1bn pledge from KKR(2)

Alliance Boots pension scheme trustees have reached a settlement from Kohlberg Kravis Roberts which secures the scheme for the next ten years. The agreement comes two days before the trustees reportedly planned to challenge KKR’s accepted takeover bid.

Buyout firms circle £1.5bn Bupa hospital portfolio(2)

A range of private equity firms have expressed interest in UK healthcare business Bupa’s hospital portfolio. The healthcare business is believed to be selling because of regulatory concerns that its hospital business is a conflict of interest with its insurance arm.

3i and Litorina sell Q-Matic to Altor for bumper gain

UK buyout firm 3i and Swedish buyout firm Litorina Kapital have sold Q-Matic to Nordic buyout firm Altor, making a nine times return on their initial investment and registering a 150 percent IRR over three years.

Stirling Square bolts on Austrian firm to 3SI(2)

Stirling Square Capital Partners, a mid-market buyout firm backed by Citigroup, has moved to consolidate the financial security market by making a European bolt-on acquisition for portfolio company 3SI Security Systems.