Archer Daniels buying Wild Flavors for $3.1 bln

Archer Daniels Midland Company said Monday it was buying Wild Flavors GmbH in a deal valued at approximately €2.3 billion (US$3.1 billion). Sellers include KKR and Dr. Hans-Peter Wild, WILD Flavors chairman. Wild Flavors, of Zug, Switzerland, supplies natural ingredients to the food and beverage industry. Archer Daniels is assuming about €0.1 billion of net debt. The deal, contingent on regulatory approvals, is expected to close by year end. Barclays provided financial advice to ADM.

KKR-owned First Data hires CMO

First Data Corp, which is owned by KKR, has hired Gretchen H. Garrigues as chief marketing officer. Previously, she worked at GE Capital where she most recently served as senior managing director of global strategic marketing. First Data Corp. is a provider of electronic commerce and payment processing solutions.


KKR buys stake in Spain’s Acciona energy arm – Reuters

KKR is to buy a one-third stake in the energy arm of Spain’s Acciona for 417 million euros ($567 million), writes Reuters. The portfolio will include Acciona Energia’s operating renewable assets outside Spain, amounting to 2.3 gigawatts across 14 countries including the United States, Italy and South Africa.

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Trending on peHUB this week: Why are LPs paid peanuts compared to PE pros? And what’s the deal with Super Evil Megacorp?

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Trending on peHUB this week: Banks deny big loan for KKR deal; job openings at CPP, Juggernaut and LACERA; and secrets to a successful PE career.


Banks face U.S. fines over LBO loans: Reuters

Wall Street banks are bracing for a clampdown and even fines if regulators determine they have violated guidelines aimed at stamping out reckless underwriting on leveraged buyout debt, according to Thomson Reuters International Financing Review and Thomson Reuters Loan Pricing Corp.


KKR acquires K Twin Towers

KKR has acquired K Twin Towers, a prime commercial property in Seoul’s central business district. Terms of the transaction were not disclosed.


KKR agrees to buy Internet Brands

KKR has agreed to acquire Internet Brands from Hellman & Friedman and JMI Equity. No financial terms were disclosed. Internet Brands’ management will hold a minority stake in the business. Headquartered in El Segundo, Calif., Internet Brands is a provider of online media and software solutions.


PSERS to pull alternative investment contracts from public view

In the wake of the publication of 12 limited partnership agreements, the Pennsylvania Public School Employees’ Retirement System has decided to remove alternative investment contracts that were posted prior to 2012 on a publicly accessible database through the state treasurer’s website.


What the LPA leak shows about PE today

Some general partners have taken a fairly relaxed view of the recent leak of their limited partner agreements—which raises the point that what has been under lock and key for so long in this industry actually doesn’t need to be.


KKR-backed Brickman and MSD-backed ValleyCrest agree to merge

Brickman, a portfolio company of KKR and ValleyCrest, which is backed by MSD Capital, have agreed to merge. No financial terms were disclosed for the transaction, which is expected to be completed by mid-2014. KPMG provided financial advice to Brickman while Moelis & Company served as financial advisor to ValleyCrest. Brickman, which is headquartered in Rockville, Maryland, is a provider of landscape maintenance and snow removal services in the U.S. And, based in Calabasas, Calif., ValleyCrest is an integrated landscape services firm.

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