MSTERDAM/LONDON (Reuters) – Shares in Northumbrian Water (NWG.L) jumped on Monday after a report that a Canadian pension fund could take it private, following a favourable review of water bills by British regulator Ofwat in November. Northumbrian shares rose as much as 14 percent on Monday following a report Ontario Teachers Pension Plan (OTPP), its […]
NEW YORK (Reuters) - Reader's Digest Association Inc said on Monday it would delay its emergence from bankruptcy after Britain's pension regulator said it would not approve the publisher's agreement with pension fund trustees regarding a British pension fund deficit. The British arm of Reader's Digest in January reached an agreement with the trustees of its and the UK Pension Protection Fund to resolve the company's deficit. The agreement was contingent on approval from the UK Pensions Regulator, which has indicated it will not approve the pension application. This issue is specific to the British entity and does not involve any other RDA company, Reader's Digest said. Reader's Digest said the British entity is now reviewing its options. In the meantime, the company will
Huntsman Gay Global Capital has sponsored a recapitalization of T&D Solutions LLC, an Alexandria, La.-based power line maintenance and construction company. No financial terms were disclosed.
Lightyear Capital has acquired three broker-dealers from the ING Advisers network: El Segundo, Calif.-based Financial Network Investment Corp.; Denver-based Multi-Financial Securities Corp.; and St. Cloud, Minn.-based PrimeVest Financial Services Inc. No financial terms were disclosed. The companies will now operate under the name Cetera Financial Group.
Summit Materials, an acquisition platform in the building materials market, has acquired Hinkle Contracting Co. of Paris, Kentucky. No financial terms were disclosed. Summit was formed last fall by The Blackstone Group, Silverhawk Capital Partners and former BHP Billiton CEO Charles Goodyear. It has up to $780 million in capital commitments, and previously acquired Hamm Inc.
Monarch Natural Gas, a portfolio company of Metalmark Capital Partners, has agreed to buy most of the Riverbend midstream assets of Gasco Energy (NYSE Amex: GSX), for $23 million in cash. The deal includes related salt water evaporative facilities.
LONDON (Reuters) – Travel service company Travelport Inc on Monday announced a price range for its $1.78 billion London listing, valuing the company’s equity at between $3.05 billion and $3.45 billion. The mid-point of the equity valuation is above the entry level of Government of Singapore Investment Corp. (GIC), which has agreed to buy $225 […]
Marlin Equity Partners has acquired the assets of CompassLearning Inc., an Austin, Texas-based educational technology company that provides supplemental curriculum software to educators and students in grades K-12. No financial terms were disclosed. The seller was The Readers Digest Association, via a bankruptcy auction. www.compasslearning.com
LONDON (Reuters) – British buyout firm Permira has teamed up with retail executive John Lovering to launch a bid for furniture retailer DFS, the Sunday Times reported without citing sources. Permira and Lovering have appointed bankers at Nomura to advise on an offer for DFS, which is valued at more than 500 million pounds ($813.4 […]
Aricent, a communications equipment maker, has raised an undisclosed amount of equity funding from Delta Partners. The company was acquired last September for $255 million from Flextronics, by KKR, Sequoia Capital, The Family Office and The Canadian Pension Plan Investment Board.