Private equity seen moving on cash-starved miners - Reuters
Private equity firms are going underground, Reuters reports. In the past, they have largely shunned mining acquisitions, as the volatility of commodities prices and cash flow made it difficult to structure leveraged deals. However, many are now predicting a flurry of global transactions this year, mainly in the US$50 million to US$800 million range, with the possibility of a few substantially larger deals. "Last year, we were active but maybe not as active as I would have liked to see us," said Isser Elishis, chief investment officer at Waterton Global Resource Management, a boutique, mining-focused private equity firm based in Toronto. "This year I think it will pick up dramatically."
10 March 2014•5 mins read
