7 Days Group Holdings, a Chinese budget hotel chain, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol SVN, with J.P. Morgan and Citi serving as co-lead underwriters. Shareholders include Warburg Pincus and Actis.
Now Hiring: Meredith Whitney (Fierce Finance) Unpopular: PE-backed companies wanting to IPO have an uphill battle, including, "not least a wary public that won't be keen to take on companies whose owners have a reputation for piling on debt and asset-stripping." (WSJ) Op-Eds: Nouriel Roubini writes for the FT that the "mother of all carry trades faces an inevitable bust." (FT) Lawyer-y Stuff: The Place Of Private Equity In The Investment World, as told by Sean Hill of Proskauer Rose. (Metro Corp Counsel)
NEW YORK (Reuters) – Private equity firm Blackstone Group (BX.N) is to buy stakes in two of Glimcher Realty Trust’s (GRT.N) malls for around $195 million in cash and debt, a source familiar with the matter said on Monday. The Wall Street Journal earlier reported the news. The paper said that under the terms of […]
NEW YORK (Reuters) – Private equity giant TPG Capital is investing $500 million to buy a majority stake in Houston-based natural gas handling services company Valerus Compression Services, the companies said on Monday. TPG, one of the largest private equity firms in the world, has been an active investor in energy. It was one of […]
Fireman Capital Partners has invested an undisclosed amount in Pilla Inc., a Ridgefield, Conn.-based maker of sports eyewear. Stacy Madison, an FCP strategic advisor and founder of Stacy’s Pita Chips, will join the Pilla board of directors.
Rue21, a Warrendale, Penn.-based youth clothing retailer, has set its IPO terms to around 6.77 million common shares being offered at between $16 and $18 per share. It would have an initial market cap of approximately $435 million, were it to price at the high end of its range. The company plans to trade on […]
CapMan has agreed to acquire a majority stake in SRK Konsultation AB, a Swedish provider of residential care, treatment and educational services for young people and adults. No financial terms were disclosed.
Baring Private Equity Asia has acquired a 16.5% stake in Singapore-listed confectioner Hsu Fu Chi. The deal was valued at US$135 million. www.bpeasia.com
Lightyear Capital has agreed to acquire $40 million of common stock in Bend, Ore.-based community bank Cascade Bancorp (Nasdaq: CACB). Existing Cascade shareholder David Bolger also agreed to buy an additional $25 million worth of common stock.
Platinum Group has acquired the assets of G.C. Peterson Machinery Co., a Minneapolis-based maker of woodworking and plastics equipment. No financial terms were disclosed.