Irving Place Capital is nearing a deal to acquire a majority stake in pet products retailer Pet Supplies Plus, according to LBO Wire. The deal would include around $80 million in equity (including $18m from management). www.petsuppliesplus.com
Oaktree Capital is nearing a deal to acquire a stake in Irish homebuilder McInerney, according to The irish TImes. The investment could be worth between €30 million and €40 million.
(Reuters) – MBK Partners, the buyout fund that focuses on north-east Asia, has failed to put together a group to bid for a $5 billion controlling stake in Korea Exchange Bank (004940.KS), people familiar with MBK’s plans said. MBK had approached Nomura Holdings (8604.T), sovereign wealth funds and South Korean government pension funds to partner […]
Bain Capital and Warburg Pincus have made offers to acquire Air Medical Group Holdings, a provider of emergency transportation services, according to Bloomberg. Sellers Brockway Moran & Partners and MVP Capital Partners are seeking around $1 billion.
MELBOURNE (Reuters) – First Reserve Corp, the biggest shareholder in Australia’s Whitehaven Coal (WHC.AX), on Tuesday denied media reports it was looking to buy out Whitehaven and denied any rift with Whitehaven management. “FRC is not involved in any consortium, or in any proposed consortium, to privatise WHC,” First Reserve Corp said in a statement. […]
Google and Games: Google, which hasn’t made much headway in social networking, is looking to use games like Slide and Jambool to compete in the sector. BP Invests $3 Bln: British Petroleum, which is receiving much nicer press now, has made an initial $3 billion deposit into the $20 billion spill recovery fund. Web Proposal: Google and Verizon called on legislators to enact laws to prevent Internet carriers from blocking web sites or selectively delaying access to content common on the Internet. Big Tummies and Death: Men and women with more fat on their waistline have a higher risk of dying. So put down that doughnut. Making Drugs Legal: Vincente Fernandez, Mexicos' ex-president, said that country should legalize drugs to stop the rising cartel violence. Another Health Auction: Air Medical is receiving bids from Bain Capital and Warburg Pincus. Detroit Pistons Bid: Michael Ilitch, who owns the Little Ceasars Pizza chain as well as professional baseball and ice hockey teams, wants to buy the Detroit Pistons basketball team. Wash AG Settlement: Washington Attorney General is expected to announce Tuesday a settlement with an Internet company. TechCrunch hopes its Intellius.
Brenda Barnes stepped down today as Sara Lee Corp.’s chairwoman and CEO, but her departure should have little effect on the company’s planned sale of its bread business. Barnes, who has been on medical leave since May 14 because of a stroke, is leaving Sara Lee to focus on her health. The Downers Grove, Ill.-based company is now searching for a successor and is considering both internal and external candidates. “This is no big news,” says one banker. “It was expected that she would leave for health reasons.” Barnes has been CEO for five years. Under her tenure, Sara Lee has sold off several units, including its body-care business and air-freshener unit. In July, Sara Lee put its North American bread unit up for sale. BofA was hired to advise on the auction.
UniCredit Group’s possible sale of Pioneer Investments is getting some interest from European banks and asset managers, according to press reports. Possible suitors include Natixis, BNP Paribas, Soceite General and Amundi, the asset management joint venture owned by SocGen and Credit Agricole. Laurent Mignon, Natixis CEO, told our friends at Reuters that a deal “would only make sense in the form of a long-lasting sales partnership."
Quad-C Management has acquired Joerns Healthcare, a provider of furniture and equipment for healthcare facilities, from Vestar Capital Partners and Park Avenue Equity Partners. No financial terms were disclosed.
Regency Energy Partners has agreed to acquire Zephyr Gas Services, a Houston-based field services company, for $185 million.