Hertz Global Holdings‘ private equity investors Clayton, Dubilier & Rice, Carlyle Group and Bank of America Merrill Lynch have sold off their remaining shares in the car rental agency for $1.24 billion, writes Reuters. CD&R, Carlyle and Bank of America Merrill Lynch sold 49.8 million shares for $24.96 each. Before the sales, CD&R and Carlyle were the second and third largest shareholders in Hertz, respectively, according to Thomson Reuters data.
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(Reuters) – Emergency Medical Services Corp., bought by Clayton, Dubilier & Rice LLC in 2011, has selected Goldman Sachs Group Inc. (GS.N), Barclays Plc (BARC.L) and Bank of America Merrill Lynch (BAC.N) to lead the underwriting of a $750 million IPO that may come in the third quarter, sources told Reuters.
Japan’s Panasonic Corp has hired Bank of America Merrill Lynch to sell a part of its healthcare unit in a deal that could raise as much as $1 billion writes Reuters. Merrill Lynch will begin providing information on the sale to potential bidders by May, including private equity funds Bain Capital and Carlyle Group, writes Reuters.
Bojangles’ Restaurants has announced a refinancing of its $200 million senior debt facility, significantly lowering its borrowing costs. Bank of America Merrill Lynch served as lead arranger with Wells Fargo, Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank, Cadence Bank and Royal Bank of Canada also participated in the facility.
Highland Capital Management said Monday that Jess Larsen has joined as an MD, business development for Europe and the Middle East. Most recently, Larsen was a director, capital introductions at Bank of America Merrill Lynch in London.
European buyout house Arle Capital Partners has expanded its investment team with two investment managers. Roumyana Boshnakova joins from 3i, and Senka Jeremic joins from Bank of America Merrill Lynch. PRESS RELEASE Arle Capital Partners today announces the further international expansion of its investment team with the addition of two new Investment Managers. Roumyana Boshnakova [...]
Greenpark Capital, a global mid-market private equity secondaries player, has opened a new office in Hong Kong to be headed by Chin Chin Teoh. Teoh joins from Bank of America Merrill Lynch, where she was managing director and co-head of the Asia Private Equity Group. PRESS RELEASE Greenpark Capital, a global leader in mid-market private [...]
Lisa Pavelka McAlister has joined PwC US as an MD in the firm’s U.S. Capital Markets and Accounting Advisory Services group. She will CORRECTION:manage assist in driving PwC’s IPO and capital raising services to PE and alternative investment companies. McAlister’s previously was SVP, COO and CFO of global private equity at Bank of America Merrill Lynch.
David Luse has joined Jefferies as an MD in the firm’s financial sponsors IB group. He will be based in Los Angeles. Luse was previously with Bank of America Merrill Lynch where he was an MD. He most recently spent eight years at BofA in their financial sponsor group covering West Coast PE firms.
Posted on: August 20, 2011 by reuters-newsComments Off
(Reuters) – The latter part of the third quarter is shaping up to be a weak period for U.S. initial public offerings. Market panic has scared many companies into postponing their IPOs, and lingering economic and political uncertainty raises the possibility that deals may not be revived at all this quarter. “Given the current environment, [...]