Providence Equity Partners related stories
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Polkomtel Bidders Begin Due Diligence This MonthPolish cell phone operator Polkomtel is opening the books to seven short-listed buyers as it moves closer to a sale. The deal could reach as high as $7 billion, Reuters reported. Apax Partners, Kohlberg Kravis Roberts & Co. and Providence Equity Partners are reportedly among the private equity bidders, as well as a joint bid from TPG Capital and Blackstone.
- Schwarzman, At $5.9B, Among Richest LBO Pros (Well Ahead Of Kravis): Corrected
My colleague Alastair Goldfisher took a swing already /98127/doerr-moritz-make-forbes-billionaire-list-will-they-make-the-resurrected-midas-list-too/ at the venture capitalists on the Forbes list of the world's billionaires http://www.forbes.com/wealth/billionaires Perhaps it's no surprise there are more dudes from the buyouts world (and way predominantly, these superwealthy folks are of the male persuasion) on this list than there are from VC. The thing that may be more surprising is that the richest of the rich in the buyouts world, although they swim in the same waters as the fund managers we focus on here, don't play with the same pools. Consider, for instance, Warren Buffet, No. 3
- Seven Groups Shortlisted in Polkomtel Sale
Seven groups have been shortlisted for the second round of bidding in the auction for Polish mobile phone company Polkomtel, Reuters reported. The next round of bids are due in April, Reuters said, with a joint offer from private equity firms TPG Capital and Blackstone expected to compete with proposals from buyout shops Apax Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners, and Polish tycoon Zygmunt Solorz Zak, among others.
- Is Savvis Finally Up for Sale? Tech Co. Said to Have Hired Qatalyst
Today's hot rumor has nothing to do with private equity. Well, at least not yet. I'm hearing that Savvis, the information tech services provider, has hired Qatalyst Partners, three sources say. Savvis, which denied in January http://www.reuters.com/article/2011/01/29/savvis-sale-idUSN2828226720110129 that it was in sales talks, is now in discussions with some anonymous parties, one person says. Another source says that Qatalyst's hiring isn't "definitive."
- Providence Halves Its Stake in Kabel Deutschland
Buyout group Providence Equity Partners earned 760 million euros ($1.06 billion) by selling half of its stake in German cable operator Kabel Deutschland, Reuters reported. The firm reduced its stake to 22% from 43.7%.
- At Least Five Bidders for EQT’s Kabel Baden
Swedish private equity group EQT has received at least five bids for German cable operator Kabel Baden-Wuerttemberg, Reuters reported, adding that the company may still opt for a public offering. Among the bidders are U.S. cable operator Liberty Global, and buyout shops CVC, Cinven, Providence and Hellman & Friedman, Reuters said. A sale of the company is estimated to reach as high as $3.38 billion.
- Providence Equity Nabs Stake in China’s TVB
Providence Equity Partners is among the investors who have acquired a controlling stake in Hong Kong broadcaster Television Broadcasts Ltd., Reuters reported. Media mogul Sir Run Run Shaw sold his stake in the firm to the investor group, which was led by Charles Chan, chairman of ITC Corp Ltd. The stake is estimated to be worth between $1.16 billion and $1.29 billion, Reuters said.
- Providence Equity Adds Steven Alesio as Senior Advisor
Buyout shop Providence Equity Partners has added Steven Alesio as a senior advisor. Alesio was most recently chairman and chief executive of Dun & Bradstreet. At Providence Equity Partners, he will focus on new investment opportunities and on portfolio companies including CDW, Study Group and Ascend Learning, where he currently serves on the board.
- PE Pros See Rosy Future (but Not This Year)
Private equity firms are nearly unified in their belief that things will get better. It just won’t be this year, that’s all. Nearly 70% of respondents to this year’s BDO Seidman PErspective Private Equity Study, when asked which quarter or year they felt 2007 levels of dealmaking will return, said “2012 or later.” BDO Seidman’s study included perspectives from more than 100 respondents from about 100 funds ranging in size from $30 million to $35 billion. They’re not bullish on getting increased leverage anytime soon either; more respondents said that for their last, as well as for their next, deal, it is expected no more of the transaction than 60% would be paid for with debt. “No one expects the double dip anymore,” said Lee Duran, BDO’s private equity practice leader. “But there’s still uncertainty.”