Western Europe

ECB bails out struggling markets(3)

The European Central Bank has injected almost €95 billion into the money markets in an attempt to boost liquidity, amid growing fears of a credit crunch.

Virgin Media confirms auction delay

The UK cable company has confirmed widespread reports that its auction has had to be postponed, as the volatility in the credit markets claims its latest victim.

Advent lands first UK PTP since credit crunch

European buyout firm Advent International has bought domestic goods insurer Domestic & General in one of the first public to private deals since problems in the debt markets began.

Waterland exits e-payment business(2)

Waterland Private Equity Investments and Prime Technology Ventures have sold GlobalCollect, an e-payment service provider, to General Atlantic for an undisclosed amount.

3i buys out Bestinvest(3)

The London-listed group has completed a management buyout of UK investment manager and financial advisor Bestinvest. It believes the prospects for organic growth are strong in a rapidly growing sector.

Carlyle venture arm exits semiconductor business

After two years of ownership, Carlyle’s European venture arm is selling French scientific equipment maker CAMECA to US trade player AMETEK for more than €80 million. The fund, which was launched with great fanfare in 1999 to target internet investments, was forced to broaden its remit after the dotcom crash.

Ferguson defends tax rules on loans

The chairman of UK private equity investor SVG Capital says changes to the tax deductibility on interest payments on leveraged loans would be damaging to private equity funds and their investors.

Barclays sells Direct to LDC(3)

Lloyds Development Capital has bought Direct Group, a UK provider of insurance services, from Barclays Private Equity.

Banks sell $6bn of Chrysler debt

The JP Morgan-led group of banks that underwrote $10 billion of debt related to Cerberus’ acquisition of Chrysler has sold $6 billion of the debt at 95 percent of par.

Rutland looks to clean up with Dirt Devil(2)

UK turnaround specialist Rutland Partners has bought Pulse Home Products, a supplier of domestic appliances, as it seeks to invest the £320 million fund it closed two weeks ago.