Enterprise Investors has agreed to acquire a 49% stake in Polish supermarket chain Dino, for approximately €50 million.
PNC Equity Partners has acquired Wheaton Industries Inc., a Millville, N.J.-based maker and re-packager of laboratory supply and packaging products. No pricing terms were disclosed. Madison Capital Funding and Amalgamated Capital provided senior debt, while Babson Capital Management provided subordinated notes.
(Reuters) – London-listed Brit Insurance (BRE.L) has rejected a takeover approach from U.S buyout group Apollo that valued the insurer at more than 570 million pounds, the Financial Times reported on its website on Friday. Citing people close to the situation, the FT said Apollo had made an indicative offer of 10 pounds a share […]
Not many M&A deals make me sad, but the Newsweek sale brings tears. I grew up on Newsweek and its jealous sister Time magazine (yes, my family got both, plus U.S. News & World Report). I remember Newsweek’s coverage of Princess Diana’s death in 1997, and comparing O.J. Simpson's mugshots on Newsweek (normal) and Time (darker) And O.J. Simpson’s famous 1994 mugshot on Newsweek that appeared darker on Time? Priceless. And then there was Sarah Palin in her running gear... Memories... But the magazine, which seems to lose heft with each passing issue, has suffered. Advertising revenue plunged 38% in first quarter. When the Washington Post announced in early May that they would be exploring a sale of Newsweek, no one was shocked.
NEW YORK (Reuters) – Private equity firm TPG Capital agreed on Thursday to buy Vertafore, which provides software and services to the insurance sector, from rivals Hellman & Friedman and JMI Equity for a total of $1.4 billion. Hellman & Friedman, which has raised more than $25 billion of committed capital since its founding in […]
In the deal world, perception is everything. Last year, several banks became sellers as they looked to auction off asset management units to raise cash. But in certain cases, private equity firms weren’t invited. For example, consider Bank of America’s sale of Columbia Management Group. BofA launched the auction of Columbia in the first quarter of 2009, but froze out private equity bidders due to concerns that LBO firms wouldn't be able to find enough "L."
(Reuters) – The private equity owners of Danish telecom group TDC (TDC.CO) are unlikely to go ahead with share offering before the fourth quarter of this year, after the sale of a Swiss unit was blocked by regulators, a minority institutional shareholder said on Thursday. TDC’s main owners, five private equity investment firms, had been […]
EduK Group, a portfolio company of Leeds Equity Partners, has completed a recapitalization that includes the sale of a minority equity stake and a refinancing of debt. Leeds will continue to be majority shareholder, and says the deal returns "multiples" on its original cash investment.
Montezemolo & Partners has sponsored a spinout of European telematics service provider Octo Telematics from Italian Italian conglomerate MetaSystem. No financial terms were disclosed. MetaSystem will continue to supply components to Octo, while Montezemolo was joined on the deal by Amadeus Capital Partners and Rothschild Growth Capital.
(Reuters) – Indian private equity firm IL&FS Milestone Fund is set to invest 5.75 billion rupees ($122.3 million) for a 74 percent stake in a property unit of Hindustan Construction Co (HCNS.BO), two sources with direct knowledge of the matter said. The deal could be announced on Thursday, said one source, who could not be […]