Privately-held natural gas exploration and production company Rice Energy is planning for an initial public offering that could value the company at as much as $2.5 billion, sources told Reuters.
Cleveland, Ohio-based middle-market private equity firm Linsalata Capital Partners has sold Royal Baths Manufacturing Company, Ltd. to Cotton Creek Capital Management. No financial terms were disclosed for the transaction, which was completed on October 15, 2013. Based in Houston, Royal Baths is a maker of marble bathroom products.
The owner of STK, a New York-based steakhouse restaurant group that markets itself to women, has attracted $44.3 million from investors, bringing a chain billed as "not your daddy's steakhouse" a step closer to the stock market, Reuters reported.
Brixmor Property Group Inc, a shopping center operator owned by Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), said it expected its initial public offering to be priced between $19 and $21 per share, raising about $790 million, Reuters reported.
Pactera Technology International Ltd (PACT.O: Quote, Profile, Research, Stock Buzz), China's largest technology outsourcing company, agreed to be taken private by a consortium led by Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz) for $625 million, after a month of wrangling over the sale price, Reuters reported.
The Riverside Company has merged its portfolio company Alchemy Systems, which provides training for food industry employees, with Catalyst Awareness, which produces employee awareness communications programs for retailers. Deerpath provided financing for the transaction, Jones Day served as Riverside’s legal counsel, Deloitte advised Riverside on financial due diligence and West Monroe Partners advised on technology diligence.
Financing connected to the $6 billion buyout of retailer Neiman Marcus by the Canada Pension Plan Investment Board and Ares Management has priced. The company priced an offering of $960 million principal amount senior cash notes due 2021, and $600 million principal amount senior PIK toggle notes due 2021.
TGP Investments has sold Tru-Flex Metal Hose to HBM Holdings, a holding company and investment vehicle for the privately-held ownership of the Mississippi Lime Company. Based in West Lebanon, Indiana, Tru-Flex is a manufacturer of metal hydroformed bellows and interlock flexible hoses.
Hastings Insurance Group has announced the placement of 416.5 million pounds of senior secured bonds. The issuer is Hastings Insurance Group (Finance) plc and the Notes will be listed on the Irish Stock Exchange.
Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa's telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust. Sawiris bank-rolled the start-up of Wind in 2008, but lost his ties to the firm after his controlling stake in Orascom was sold to European telecoms company Vimpelcom in 2011. Orascom had put up most of the funding for Wind's launch. Sawiris, whose investment firm Accelero Capital Holdings had bid C$520 million ($500 million) for the Allstream business, said he was livid with the Allstream ruling and he vowed not to invest any further funds in Canada.