Western Europe

Carlyle plots $22bn Virgin Media bid(3)

The Carlyle Group is preparing a $22 billion takeover bid for UK cable TV and mobile phone business Virgin Media, as it looks to replicate the success of its previous European investments in the sector.

CDC expands with four appointments(2)

Four directors have been appointed at UK government-backed emerging markets fund of funds CDC, as the business continues to diversify its investment activities.

AVCAL says “economic xenophobia” in decline(2)

Katherine Woodthorpe, chief executive of the Australian Private Equity and Venture Capital Association, has said Australian “economic xenophobia” has lessened after the Australian Senate’s inquiry into private equity.

Apollo buys GE Unit for $3.8bn

The New York-based firm will buy GE Advanced Materials, General Electric’s second largest unit.

BVCA begins search for new chief executive

The UK trade body has begun the search for a new chief executive in the wake of Peter Linthwaite’s resignation last month.

AVCAL says “economic xenophobia” in decline

Katherine Woodthorpe, chief executive of the Australian Private Equity and Venture Capital Association, has said Australian “economic xenophobia” has lessened after the Australian Senate’s inquiry into private equity.

EQT flips Tognum in €2.1 billion IPO(2)

Nordic buyout firm EQT Partners is to float Tognum, an engineering company it bought in March last year, on the Frankfurt Stock Exchange. It will be the largest IPO in Germany in seven years.

Secondary buyout record fuels industry concerns

The volume of secondary buyouts so far this year is already 15 percent higher than the total for the whole of 2006. Many industry observers believe this is a sign that the industry is approaching the top of the current cycle.

CVC hauled before Treasury following AA criticism(3)

CVC Capital Partners has become the latest private equity firm to be called before the UK Treasury Select Committee, which is due to meet for a third time next Tuesday to discuss the industry. The summons comes in the wake of its controversial ownership of the AA, which this week completed a £6 billion merger with Saga.

Saga staff get £280m payout(3)

The staff of UK-based Saga will receive a £280 million ($560 million, €416 million) payout following the company’s merger with the AA, a UK vehicle breakdown service. The chief executive of the newly formed group, Andrew Goodsell, plans to lead the company into the FTSE 100.