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peHUB First Read

This morning read the latest about the Box IPO and its venture capital owners, some insights into big data and biotech stock dips escalating fears of a bursting bubble.

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peHUB First Read

Today First Read brings you the latest news links which reveal all you need to know about the venture capital cycle, the US leveraged loan market set for another trillion year and the top 50 digital health entrepreneurs.

Reuters – Charterhouse Considers IPO for French Caterer Elior

British private equity firm Charterhouse Capital Partners is considering taking French caterer Elior public this year, after it received bids that fell short of its asking price of 4 billion euros ($5.2 billion), the Financial Times reported, writes Reuters. Bids that fell short included a joint offer from fund managers BC Partners and CVC Capital Partners which valued Elior at 3.5 billion euros, writes Reuters.

BC Partners to Acquire Springer from EQT and GIC

EQT V and GIC Special Investments, the private equity arm of the Government of Singapore Investment Corporation have agreed to sell Springer Science+Business Media, a global scientific, technical and medical (STM) publisher. Private equity firm BC Partners will acquire the business.

BC Partners Is Sole Bidder for Springer Science – Sources

BC Partners is the last remaining bidder for Springer Science+Business Media, three people familiar with the negotiations said, as the German publisher’s owners plan to decide by the end of this week whether to sell or float the group. BC has made an offer that would value Springer between $4.1 billion and $4.6 billion, the sources told Reuters.

BC Partners Makes $1.3 Bln Offer for Allflex

Electra Partners said Friday that it has received a $1.3 billion binding offer for Allflex Holdings. BC Partners is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners’ clients, including Electra Private Equity which will receive $398 million on the close of the deal. This represents a gross return of 15x original cost and an IRR of 28%. Rothschild advised Electra Partners and Allflex.

Reuters – CVC’s Ista Buyout Backed by Loan, Bond Package

Reuters – A debt financing of more than 2 billion euros ($2.62 billion) backing the 3.1 billion euro ($4.06 billion) purchase of German metering firm Ista by private equity firm CVC will be a mix of leveraged loans and high-yield bonds, writes Reuters. CVC trumped rival BC Partners to buy a 76 percent stake from co-owner Charterhouse last week in Germany’s largest private equity deal since 2008, writes Reuters.

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