MILAN (Reuters) – Italian carmaker Fiat SpA (FIA.MI) is still analysing Chrysler LLC for its intended alliance with the company but will conclude so Chrysler meets a Feb. 17 U.S. government deadline, Fiat’s CEO told the Wall Street Journal. Under the terms of the federal loans Chrysler [CBS.UL] has received, it must present a plan […]
3i, the London-listed global private equity firm, has sold its 48% stake in Diab, a Swedish core materials manufacturer, to local investor Ratos. Ratos already held a 48% interest in Diab prior to the transaction, which will generate proceeds of Skr400m (US$48m) for 3i. Management hold the balance of Diab. Laholm, Sweden-based Diab manufactures materials […]
FRANKFURT (Reuters) – Car roofing specialist Edscha filed for insolvency for its European sites on Monday, making it the first major German auto parts supplier owned by private-equity to have to reorganise under an administrator due to the global industry crisis. “The most important goal is that the operative business continues and we expect to […]
NEW YORK (Reuters) – Ryland Group (RYL.N), the No. 9 U.S. homebuilder, said on Monday that it was forming an acquisition and development company with a partner, adding its name to a lengthening list of builders looking to exploit distress in their industry. The venture with Oaktree Capital, which has more than $55 billion in […]
First Reserve Corp. has agreed to sell a 10.75% equity interest and pro-rata funding obligation in Longview Intermediate Holdings to Siemens Financial Services. No financial terms were disclosed for the deal, which is expected to close within 60 days. Longview is part of GenPower Holdings, a power generation platform formed in October 2006 by First Reserve and GenPower LLC.
CVC Capital Partners, the European buy-out firm that is eyeing Britain’s Royal Mail, said on Monday that it has agreed to sell its 22% stake in Post Danmark to the Danish state. That deal is conditional upon the closing of the merger between Post Danmark and Sweden’s Posten, which is expected to happen this year. […]
MatlinPatterson has completed its $250 million PIPE investment in Flagstar Bancorp Inc. (NYSE: FBC), the largest publicly-held savings bank based in the Midwestern U.S. Flagstar also announced that it had received $266.6 million from the U.S. Treasury's TARP Capital Purchase Program, and another $5.32 million from management.
Lyceum Capital has sold SPI Group Ltd., a UK building services company, to Npower, a subsidiary of RWE Group. No financial terms were disclosed.
DUBLIN (Reuters) – Workers protesting at luxury tableware maker Waterford Wedgwood’s Irish crystal plant said on Sunday they supported one of two U.S. private equity groups vying to buy some of the indebted company’s assets. “We are encouraged by the continued firm interest by Clarion Capital,” Jimmy Kelly, Irish regional secretary of the Unite union, […]
NEW YORK (Reuters) – American Media said Sunday it reached a deal with its bondholders that leaves them with a 95 percent stake in the company and reduces its debt load by $227.2 million. American Media, the publisher of the tabloids The National Enquirer and Star, and Men’s Fitness magazine, said in a statement the […]

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