Bank of America Merrill Lynch related stories
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Arcapita buys French logistics firm from SagardThe Bahrain-based bank has completed what it says is France’s largest LBO this year, a secondary deal for Compagnie Européenne de Prestations Logistiques. Sagard has exited the company in a transaction valued between €550m and €600m after receiving 21 first-round bids from groups including Doughty Hanson and Goldman Sachs.
- Lone Star picks up German subprime casualty
The US private equity firm will add a second struggling German bank to its portfolio, purchasing a 91 percent stake in business bank IKB, which entered into an 'existential crisis' in July 2007.
- Report: Lehman shops $10bn alternatives arm to buyout groups
Carlyle, General Atlantic, Hellman & Friedman and Blackstone have been reported as potential buyers of Lehman Brothers divisions including its private equity arm, as the beleaguered investment bank looks to shore up its balance sheet.
- Cerberus, Ampersand agree $3.1bn biotech exit
The private equity firms have agreed to sell Talecris Biotherapeutics, purchased for $590m in 2005, to Australian blood products company CSL.
- Ripplewood portfolio company makes $110m divesture
The Reader’s Digest Association has agreed to sell school groups and youth-focused fundraising group QSP to Time, which co-owned the unit until 1971. A Ripplewood-led consortium purchased the media company for $2.4bn in 2007.
- Close Brothers trims advisory arm
The European investment bank’s corporate finance advisory business, which has advised on recent private equity deals including Hg's £126m exit of Boosey & Hawkes, has pruned its London team by 11 bankers as the slowdown in M&A activity takes its toll.
- ECP nearing first close on $1bn Africa fund
The private equity firm will likely hold a first close on more than $523m, topping its entire previous fund. Launched in the second quarter of this year, the fund will be one of the largest dedicated pan-Africa funds raised to date if it meets its target.
- Merrill reshuffles financial sponsors group
Following a strong half year for the banking giant’s private equity advisory arm, Merrill Lynch has made a series of internal promotions, including Jeff Kaplan’s elevation to global head.
- Lone Star picks up $30.6bn of CDOs at sharp discount
Fresh off the close of its $7.5bn sixth buyout fund, the distressed-focused private equity firm will buy the CDOs from Merrill Lynch for $6.7bn. The investment bank will finance 75 percent of the purchase price.
- Carlyle in $75m financial services PIPE
The buyout giant is betting that its investment in publicly listed wealth management company Boston Private fares better than similar financial sector PIPES.