Providence Equity Partners related stories
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Istithmar leaps into entertainment with Cirque du Soleil stakeThe Dubai private equity group has teamed with Dubai-backed real estate developer Nakheel to purchase a 20 percent stake in Cirque du Soleil. Famous for unusual live performances, the entertainment company will develop a permanent show on Dubai’s Palm Jumeirah island.
- SigmaBleyzer, Providence consolidate Ukrainian cable TV market
Media and communications specialist Providence Equity Partners has boosted its investment in cable company Volia to $300m, the largest private equity investment in the country to date. SigmaBleyzer first funded Volia in 1999.
- Bids for PCCW subsidiary closed today
The Hong Kong-listed telecommunications group has received 'a number of proposals' for its sale of a minority interest in a subsidiary. Private equity firms including TPG are reported to have bid.
- Illinois Teachers’ approves $1.2bn private equity ‘road map’
The $38bn public pension has approved a tactical plan that emphasises a need for geographic diversity as it moves closer to its 8 percent target allocation for private equity.
- Bell seals deal
After months of negotiations which were threatening to tip into legal action, Bell Canada has struck a $50bn deal with its banks to get its buyout away.
- Informa jumps on confirmation of buyout talks
The UK-listed business had languished since talks with a strategic buyer collapsed in the middle of last month. Interest from a consortium of three firms has lifted the share price.
- Goldman Sachs, TPG to exit Alltel in $28.1bn sale
Verizon Wireless has agreed to purchase the telecom company less than a year after it was taken private for $27.5bn.
- S&P: PIK-toggle notes may be harmful to debt-holders
PIK structures, frequently found in LBO-related debt offerings and currently being exercised by firms including KKR, Bain and Permira, may be staving off inevitable default to the detriment of debt-holders, according to Standard & Poor’s.
- Canada’s Supreme Court approves blockbuster BCE deal
The justices unanimously struck down a Court of Appeals decision that favoured bondholders and would have killed the $52 billion buyout.
- Report: BCE bankers seek tighter financing terms
The biggest LBO proposed to date has reportedly hit a financing snag just weeks before it was expected to close.