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Bass Sells Pubs and Bingo Business to Buy-ins

20 years ago

Bass disposed of two major businesses, its tenanted pub estate and the Gala bingo division, to buy-ins in December. BT Capital Partners backed Roger Myers and Hugh Osmond’s GBP564 million (ecu 849 million) acquisition of the estate of over 1,400 tenanted pubs. PPM Ventures joined forces with Nat Solomon and chief executive John Kelly, paying […]

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Apax Provides Dough for German Bakery

20 years ago

The UK and German funds of Apax Partners & Co have acquired a substantial minority holding in Wendeln Brot, Germany’s leading bread and baked goods manufacturer, through a “three figure millions” (Deutschmark or Sterling-denominated) investment. The funding supported Wendeln’s acquisition of the family-owned Lieken Group: by adding the Lieken Urkorn brand to its stable, the […]

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Texon Issues High-Yield Bond

20 years ago

Over the past two years, the high-yield bond has established itself as a feature of the European financing landscape. The most recent issue completed was a DM245 million (ecu 124 million) note for Texon International, the world’s largest manufacturer of structural shoe materials. The bond, offered by Chase Securities Inc, Chase Manhattan Bank AG and […]

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Apax Backs Evans In Virgin Radio Coup

20 years ago

The December sale of Richard Branson’s Virgin Radio to DJ and television presenter Chris Evans must surely rank as one of the highest-profile UK private equity transactions of the year. The deal, led by Apax Partners & Co and valued at GBP85 million (ecu 126 million) debt free, succeeded in the face of a higher […]

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BC Partners Leads Syndicate in FFr 570 Million Bercy Deal

20 years ago

BC Partners in November led an investor syndicate which provided a FFr 570 million (ecu 86 million) capital increase for Bercy Management, France’s Number One concession and contract catering group. BC Partners funds acquired a 20% holding in Bercy Management; Union d’Etudes et d’Investissement, an existing investor in Bercy Management, took its stake to 16%; […]

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LGV Agrees o515 Million Unipoly Acquisition

20 years ago

Legal & General Ventures (LGV) is backing the management team of BTR’s Polymer Products Group in a GBP515 million (ecu 764 million) MBO. A total GBP620 million funding package of has been raised for the deal, LGV’s largest lead to date by a substantial margin. Unipoly SA, a Luxembourg-based holding company, is acquiring the BTR […]

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Vsgele Buy Sets Record for Schroder

20 years ago

The CHFr 1.25 billion (ecu 782 million) acquisition of Vsgele Group, announced in late November, is the largest deal ever completed by Schroder Ventures. The family-owned Swiss clothing retailer has 360 shops in Switzerland, Austria and Germany, with annual sales of CHFr 950 million. A household name in Switzerland, Vsgele has sold non-fashion, value-for-money family […]

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Realising the Potential of Mergers & Acquisitions

20 years ago

The end of the century is witnessing a radical redrawing of the corporate map. Mergers, acquisitions, joint ventures, divestment, restructuring, outsourcing, virtual businesses and electronic businesses are the engines driving this transformation. Because of the sums of money involved, acquisitions and mergers have come under close scrutiny. Many commentators put a negative spin on their […]

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Kardan Seeks $75 Million for Tech Fund

20 years ago

Kardan Technologies is seeking $75 million (ecu 67 million) for its Kardan Technology Ventures fund, which will invest in Israeli telecommunications and data communications companies. AT&T Investment Management has committed $15 million to the vehicle, its first direct investment in an Israeli private equity fund. KTV hit a $40 million first close in September and […]

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AT&T Team Move To JP Morgan

20 years ago

The prospect of mass defections by experienced in-house teams who are lured by more attractive remuneration packages in the third-party fund management sectors, is a nagging worry for dedicated pension fund managers that have built up substantial private equity interests. Not so for AT&T Investment Management Corporation. Although its private equity management team has moved […]

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CDC South Asia Fund Is On Course for $200 Million

20 years ago

The Commonwealth Development Corporation (CDC), under its Commonwealth Private Investment Initiative (CPII) programme, has launched a fund which is aiming to raise $200 million for investment in South Asia. At its first closing in late Autumn, the South Asia Regional Fund, the third vehicle established under the CPII umbrella, had raised $119.5 million (ecu 107 […]

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Murray Johnstone Forms Three-Way Asian Partnership

20 years ago

As most of its peers look towards Continental Europe, Murray Johnstone Private Equity (MJPE) has opted instead to take the less trodden path into Asian markets. Murray Johnstone, which already has a well-established group office in Singapore has joined forces with GK Goh Holdings, one of the largest stockbrokers in South East Asia, and BancBoston […]

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Electra Links with Pactual for $400 Million Brazil Fund

20 years ago

Electra Fleming, which over the last two years has made a concentrated effort to expand its investment business into the major Continental markets, is now looking further afield in its bid for greater geographical diversification. The latest market to catch the group’s attention is Brazil, the world’s eighth largest economy, where it has joined forces […]

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Global Private Equity III Joins $1 Billion Club.

20 years ago

Advent International, which set an initial target of $625 million for its most recent international vehicle, Global Private Equity III (GPE III), is closing the fund on $1 billion (ecu 898 million). Director Will Schmidt said the $950 million cap set at the first closing was revised upwards “to accommodate additional interest from three or […]

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Study Finds Variation in European Investment Practices

20 years ago

The recent publication of a Centre for Management Buyout Research (CMBOR) study is timely in view of the number of UK private equity houses that have stepped up their activity in Continental European markets and the re-emergence of a strong US presence in both the UK and Continental Europe during the last year or so. […]

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ETF Aims to Create Jobs And Boost Innovation

20 years ago

The European Investment Bank (EIB), over the next three years will channel ecu 125 million from its annual surpluses into venture funds investing in early-stage technology companies in Europe. Dubbed the European Technology Facility, this initiative forms part of the EIB’s special growth and employment action programme. At its launch, which coincided with the European […]

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CCP Capital Launches First Private Fund for Croatia

20 years ago

Croatia’s first private sector venture capital fund has been launched as the country embarks on a programme of rapid economic reconstruction. The Adriatic CCP Fund, which will invest both in existing private sector SMEs and in privatisations, is a joint venture between the EBRD, Zagrebacka Banka, one of Croatia’s leading commercial banks, CCP Capital and […]

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