Providence Equity Partners related stories
All articles and analysis
BCE sale falls throughAfter a protracted 18-month sale process, the Ontario Teachers’-led consortium has finally pulled the plug on what would have been the largest buyout ever. The shareholders of BCE are now looking to secure a C$1.2bn break-up fee.
- BCE denies alternative offer
The Canadian telecom giant said it received no alternative offer from its private equity suitors over its record $40bn take-private. Ontario Teachers' and Providence Equity Partners were reportedly contemplating minority stakes.
- BCE buyout hits another snag
KPMG has told BCE that it cannot deliver a solvency opinion before the 11 December scheduled closing of the $42bn transaction.
- Blackstone to launch Indian outsourcing company
The buyout firm has partnered with CMS Computers to spin out two of its divisions into a new company with Blackstone as the majority owner.
- Veteran Goldman Sachs banker retires
Charlie Bott, chairman of Goldman’s European financial sponsors group, is regarded as the first private equity-dedicated banker. He is replaced by John Waldron, previously co-head of leveraged finance.
- Report: KKR to invest in Indian cricket franchise
The private equity firm is reportedly negotiating a 47 percent stake in Deccan Chargers, a Hyderabad-based cricket team, in what will be the first private equity investment in an Indian sports franchise. The deal is estimated to be worth $20m.
- Private equity-backed companies turn to PIK
A report from Moody's Corporate Finance reveals an increase in private equity-backed companies that are electing to use their payment-in-kind option to make interest payments.
- BlackBerry Partners Fund hires two
The fund’s co-managers, JLA Ventures and RBC Venture Partners, have each contributed a new hire to the smartphone-focused venture capital group. The additions of Marc Faucher and Matt Golden bring the head count to eight.
- Credit woes hit Asia
Three large deals that have recently fallen apart show private equity activity in Asia is not immune to the global financial crisis, writes Siddharth Poddar.
- PCCW cancels $2.5bn auction
MBK, Macquarie, TPG and Providence were reportedly bidding on the telcom company, which represents the second Asian deal to be scuppered in recent days.