Western Europe

Cerberus sells German residential portfolio for €1.6bn(2)

Pirelli RE and Deutsche Bank have agreed to buy German property group BauBeCon from Cerberus, in a transaction valued at €1.6bn.

Legrand boosts Wendel

Profits and net asset value rose at the French family-owned investment company Wendel Investissement on the back of its flotation of Legrand, an electrical equipment company.

The man who wants to buy Sainsbury’s

Robin Marriott, Europe Editor of PEO’s sister site PrivateEquityRealEstate.com, profiles the man looking to buy UK retailer Sainsbury’s – and to succeed where a private equity consortium recently failed.

Milestone makes it five exits for the year

Anglo-French buyout firm Milestone Capital Partners has completed another exit from its third fund with the sale of dry cleaning business 5àSec. It has now returned 60 percent of investors’ commitments with over half of its original deals still in the portfolio.

Trade rival threatens Candover Stork deal(3)

The ongoing saga over Dutch conglomerate Stork may be set for a further twist, after trade rival Marel built up its stake in the company to 20 percent, threatening to derail Candover’s agreed €1.5 billion bid.

CVC to buy Samsonite for $1.7bn(2)

European private equity firm CVC Capital Partners has agreed to buy US-based Samsonite Corporation, a designer and manufacturer of luggage. The deal is part of a drive to increase CVC’s US presence.

Milestone continues rebound with fourth exit this year(2)

Milestone Capital Partners looks to have completed the latest in a string of successful exits after agreeing to sell its stake in data room business IX Europe – just weeks after selling port terminal operation Nordic Limited to Forth Ports for a four times return.

Paul Capital adds to new co-investment team(3)

Paul Capital Investments has added former GE Asset Management VP Dan Townsend to its growing ranks.

Candover expansion spreads to Italy

The Europe-focused buyout firm is pushing further into the continent with a new Milan office and an increased headcount.

Three non-execs join Lloyds TSB Registrars board

Three external non-executive directors have been appointed to the interim board of Advent International’s pending acquisition Lloyds TSB Registrars, a practice encouraged by Sir David Walker’s recent report on transparency in private equity.