(Reuters) – France’s Casino (CASP.PA: Quote, Profile, Research, Stock Buzz) and Britain’s Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz) are among the bidders still in the running to buy Carrefour’s (CARR.PA: Quote, Profile, Research, Stock Buzz) stores in Southeast Asia, people close to the matter said on Wednesday. Carrefour, Europe’s No.1 retailer, has set a […]
Credit Suisse’s asset management division agreed to acquire a minority interest in York Capital Management, which will continue to operate independently under the leadership of founder and CEO Jamie Dina and CIO Dan Schwartz. Credit Suisse will pay an initial $425 million for its interest in York. The transaction includes an earn-out payments based on five-year financial performance.
Flagstar Bancorp, which is majority owned by MatlinPatterson, is trying to raise $600 million in a share sale to boost capital after eight straight quarterly losses, according to Bloomberg News. Flagstar has held talks with PE firm and may sell shares to current investors, the story said. Flagstar expects to use proceeds to boost capital and pursue growth, including possible acquisitions. Last year, MatlinPatterson, which was founded by David Matlin and Mark Patterson, invested $350 million in Flagstar last year.
Kraton Performance Polymers filed Tuesday with the SEC to sell 8 million shares of common stock. If the underwriters exercise their overallotment iotuib, the shares to be sold will total 9.2 million. TPG Capital and J.P. Morgan Chase are selling the stock. Kraton, a specialty chemicals maker, said it won't receive any proceeds from the offering.
Advent International has agreed to invest in Five Below, an extreme value retailer owned by LLR Partners. Once the deal closes later this year, Five Below founders David Schlessinger and Tom Vellios, LLR and company management will continue to own a significant stake. Founded in 2002, Five Below targets the youth and young adult market, offering merchandise priced between $1 and $5. LLR Partners is a Philadelphia PE shop that invests in middle market firms.
Permira, the European buyout shop, has bought another satellite firm. On Monday, Permira agreed to buy Asia Broadcast Satellite. The PE firm will have roughly 70% of ABS while management will have the rest, a person says. The seller is Citi Venture Capital International and ADM Capital. The transaction, valued at more than $200 million, is expected to close by the end of the year, probably by October or November.
After a short stint at North Sea Capital, Henry Robin has left the firm to join Invesco, sources told peHUB. Robin started at Invesco in late August. He is working on the fund-of-funds team at Invesco's private capital group and is an MD, a person said. Invesco, an investment manager with $574 billion in assets under management, owns WL Ross & Co., Invesco Powershares and recently bought Morgan Stanley's retail funds business (which includes Van Kampen). In 2009, Robin joined North Sea Capital where he was a senior partner and head of the New York office. North Sea Capital is a PE advisor in Northern Europe.
Remember all those rumors about a conglomerate of PE firms looking to buy Saks? They're likely false, peHUB has learned. Late last month, the Daily Mail reported that a consortium of U.S. and British firms may make a cash offer of $11 a share, or $1.7 billion for the company. The story caused Saks stock to surge nearly 22%. The story didn't name any PE firms specifically but no matter. These reports are untrue, bankers and PE execs say.
(Reuters) – TPG Capital [TPG.UL], one of the world’s biggest private equity firms, is close to buying a 10 percent stake in bank VTB (VTBR.MM) from the Russian government for $2.4 billion-$3.1 billion, newspaper Kommersant reported on Tuesday. Russia plans to raise some $29 billion in asset sales over the next three years in its […]
Green Mountain Coffee Roasters Inc. agreed to acquire all the outstanding shares of LJVH Holdings Inc. (Van Houtte), from an affiliate of Littlejohn & Co. LLC for C$915 million, or $890 million, based on the exchange rate as of Sept. 13. The transaction is expected to close by the end of 2010. Van Houtte is […]