TPG related stories
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TXU board approves $44bn buyoutOn Sunday night, the board of US energy giant TXU gave tentative approval to a record bid from KKR and Texas Pacific Group. The largest-ever LBO includes a key concession to environmentalists, according to reports.
- Al Salam Bank-Bahrain enters China’s private equity market
The Bahrain-based bank has agreed to partner with Chinese private equity firm CMIA Capital Partners.
- Mezzanine Management makes third realisation of 2007
Mezzanine Management, Europe’s oldest independent mezzanine investor, has sold XServ, a US provider of maintenance services to chemical and industrial facilities, to Texan trade buyer The Brock Group.
- Qatar to build Sainsbury’s stake
Qatar’s state investment fund is looking to build its own strategic stake in Sainsbury’s, and is not in talks with Marks & Spencer for a joint bid, as was reported at the weekend.
- TPG buys minority stake in Japanese toymaker
TPG has made its first lead investment in Japan, taking a minority stake in TOMY as the country’s second largest toymaker looks to boost overseas sales.
- Coles takes a stand against club deals
Australian retailer Coles Group has again shunned its private equity suitors, reportedly insisting that it cut its bidding consortium from five firms to four. The move will fuel the ongoing debate about club deals.
- Apax and TPG make 4.5 times money on TIM Hellas
Apax Partners has completed its second lucrative exit in two weeks after selling TIM Hellas, the Greek mobile operator it co-owned with Texas Pacific Group, to Egyptian telecoms entrepreneur Naguib Sawiris.
- TPG middle-market fund adds Oregon as LP
Texas Pacific’s new STAR affiliate has secured a $75m commitment from long-time backer Oregon.
- TPG joins CVC-led group for Sainsbury’s bid
The CVC-led consortium preparing a £9 billion bid for Sainsbury’s, a UK supermarket chain, has been further strengthened after Texas Pacific Group decided to abandon a rival bid and join the group.
- KKR Euronext to invest in TXU
The Euronext affiliate of KKR has committed to the largest ever proposed buyout both as a co-investor and limited partner, contributing $500 million to the deal.