News and Analysis

LONDON (Reuters) – European private equity firms are keen to start bringing their best-performing portfolio companies to market, encouraged by early successes on the other side of the Atlantic. Last week KKR [KKR.UL] successfully listed semiconductor business Avago Technologies Ltd (AVGO.O) and is considering listing a number of other companies as markets warm to new […]
NEW YORK (Reuters) – Private equity firm TPG said on Tuesday that it would buy up to 20 percent of building products company Armstrong World Industries Inc. (AWI.N) TPG said it had agreed to buy 7 million Armstrong shares, about 12 percent of those outstanding, for $22.31 each from the company’s asbestos personal injury settlement trust. […]
Intermedix Corp., provider of billing services to emergency medical service providers in Texas, has acquired HRA Medical Management Inc., a San Diego-based provider of emergency physician and hospitalist billing services to medical practice groups. No financial terms were disclosed. Intermedix is a portfolio company of Parthenon Capital.
NEW YORK (Reuters) – CBS Corp (CBS.N) said on Monday it has agreed to sell four radio stations in Portland, Oregon for $40 million, part of the media company’s plan to focus its radio business on bigger markets. CBS, which sold the stations to closely held Alpha Broadcasting, has divested 12 radio stations in the […]
CapGen has agreed to acquire a 10% stake in Seacoast Banking Corp. of Florida (Nasdaq: SBCF), a commercial bank with approximately $2.1 billion in assets. The deal will be transacted via the purchase of six million common shares at up to $2.50 per share.
Friedman Fleischer & Lowe has completed its acquisition of quick-service restuarant chain Church's Chicken from Arcapita. No financial terms were disclosed, but peHUB previously reported that the sale price was between $300 million and $390 million.
NEW YORK (Reuters) – InfrastruX Group Inc, a provider of services to gas and electricity companies, is seeking to raise up to $290 million in an initial public offering, according to a regulatory filing on Monday. InfrastruX, based in Seattle and owned by Tenaska Power Fund LP, a private equity fund that invests in power […]
LONDON (Reuters) – Private equity fund Dubai International Capital (DIC) and distressed debt investor Oaktree Capital have abandoned plans to team up to restructure the almost $1 billion debt of German aluminium firm Almatis, the Financial Times reported on Tuesday. The FT cited people familiar with the situation as saying DIC and Oaktree suggested recapitalising […]
SYDNEY/HONG KONG (Reuters) – Fortescue Metals Group Ltd (FMG.AX) and China Investment Corp (CIC), China’s $200 billion sovereign wealth fund, are in advanced talks on a $1 billion-plus convertible bond investment to help the Australian iron ore miner fund its expansion, two sources said on Tuesday. The talks follow news on Monday that China’s Yanzhou […]
Throwdown! Investment banks aren't happy that firms like Apollo and KKR are stepping into their territory with their investment advisory services. (FT) When Is the Last Time You Heard an Entrepreneur Say This? "I receive a seemingly endless stream of calls from VCs and private equity firms eager to hand over some of their money," he said. (FT) Retail Therapy: Barney's, backed by Istithmar, is in a little trouble. The firm hired Perella Weinberg Partners to help it restructure its debt. Wonder what this means for Istithmar's other retail businesses (Loehmann's comes to mind) and other struggling PE-backed luxury retailers like Neiman Marcus (Leonard Green) and Lord & Taylor (NRDC)... (NY Post) News Lite: There's an event called Fashion Meets Finance, which, as the NY Times nicely puts it, "shamelessly" attempts to pair women in fashion with men in finance. And that event organization has declared the recession over. Not a self-serving declaration at all, eh guys? (NY Times) News Heavy: Is it now a crime to be poor? (Barbara Ehrenreich)
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