Western Europe

Permira floats Hogg Robinson at reduced price

Permira’s UK business portfolio company Hogg Robinson returned to the stock market today with a pricing of 90 pence, well below its original planned pricing of 140 pence to 200 pence.

Doughty, 3i invest £8m in DeepStream

DeepStream Technologies, a Welsh embedded sensor company, has raised £8.1m in second-round financing from Doughty Hanson Technology Ventures and 3i.

Harrah’s gets $15bn buyout offer

The bid by Apollo Management and Texas Pacific for the Las Vegas-based casino giant could mark one of the year’s largest buyouts.

Gresham to sell snacks company for up to £85m

Four private equity firms are reportedly lining up second-round bids for Whitworths, a UK dried fruit snack company acquired by Gresham Private Equity in 2001.

Consortium increases offer for AWG

A consortium including 3i and the Canada Pension Plan Investment Board has increased its offer for UK water utility AWG from £15.55 to £15.78 as banks including Merrill Lynch and Macquarie Bank show interest in the event of failure to acquire rival business Thames Water.

Permira moves into 4 star hotels

Europe’s biggest buyout firm has landed its third deal of the year buying Principal Hotels from Royal Bank of Scotland just two months after missing out on De Vere, a rival chain.

Retail Decisions agrees £168m takeover

Palamon Capital Partners have secured a recommended take-private for the UK quoted card operator with 25 percent of shareholders backing the offer.

Fitch says Focus debt burden is “unsustainable”

The ratings agency has downgraded £100m of mezzanine loans for Focus, a do-it-yourself retailer owned by Duke Street Capital and Apax Partners, over the increased possibility of a default.

Consortium launches “lofty” £2.2bn takeover for AWG

3i consortium will have to work hard to make bid premium pay in its proposed takeover of Anglian Water’s UK owner, according to broker Collins Stewart.

Nordwind does second deal

German contrarian Hans Albrecht has invested in his second deal through his firm’s 2004 fund, buying two Austrian electronics retailers with VMS, an Austrian rival turnaround specialist.