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Seconds out… Round ThreeAs four more buyout bosses and two influential third parties go before the UK Treasury Select Committee, the industry hopes for a further damage limitation exercise. James Taylor reports.
- Apollo’s $10.6bn bid wins Huntsman(2)
Chemical company Huntsman has terminated its merger agreement with businessman Len Blavatnkik’s firm and accepted a $10.6 billion bid from Apollo.
- AA and Saga in £6bn merger(3)
Travel and insurance group Saga is to merge with the AA, the vehicle breakdown service owned by Permira and CVC Capital Partners that has been at the heart of the recent controversy over private equity. The move has provoked further union anger.
- Apollo’s $10.6bn bid wins Huntsman
Chemical company Huntsman has terminated its merger agreement with businessman Len Blavatnkik’s firm and accepted a $10.6 billion bid from Apollo.
- CD&R sells Brakes to Bain for £1.3bn(3)
US buyout firm Bain Capital has won the race to buy Brake Bros, a UK food distribution business, from Clayton Dubilier & Rice, in a deal thought to be worth about £1.3 billion.
- Tchenguiz doubles Sainsbury’s stake(2)
The property entrepreneur has doubled his stake in the grocer to 11 percent, prompting questions whether a takeover strategy may be in the works.
- LBO giants launch PR offensive in Germany
Hanns Ostmeier has stepped down from The Blackstone Group to chair the German Venture Capital Association’s new mega-buyout platform.
- AA/ Saga backers share £2.5bn profit(2)
The three buyout firms behind last week’s merger of UK companies the AA and Saga have moved to address concerns about a lack of transparency by releasing additional financial details of the £6.15 billion deal.
- New Look auction collapses(3)
UK retailer New Look looks likely to be refinanced rather than sold, after the final consortium targeting the company failed to agree with the vendors’ valuation and withdrew from the auction.
- New Look auction collapses(2)
UK retailer New Look looks likely to be refinanced rather than sold, after the final consortium targeting the company failed to agree with the vendors’ valuation and withdrew from the auction.