Cerberus Capital Management LP said on Saturday it had secured the one-third stake in Seibu Holdings needed to veto decisions at shareholder meetings, but fell short of its goal of buying 44.7 percent of the Japanese railway and property group., Reuters reported.
WorldPay's private equity owners, Bain Capital LLC and Advent International Corp, have canceled the auction of the payment processing firm's U.S. unit, WorldPay told Reuters on Friday.
Calgary-based Insignia Energy Ltd., a publicly listed junior oil and gas exploration and development company, has agreed to be taken private by Canadian private equity firm Brookfield Capital Partners. Brookfield has been an investor int he company since 2008 and currently holds a majority position. The proposed transaction, which was announced earlier in May, is valued at approximately $87 million. The company's board of directors (with interested directors abstaining) has unanimously approved the deal, which will be considered by a special meeting of shareholders in mid-July.
Richmond Hill, Ontario-based transportation services manager Transplace Canada, formerly Torus Freight Systems Ltd., has a new private equity backer following the decision of the company's Frisco, Texas-based parent, Transplace Inc., to partner with New York's Greenbriar Equity Group. The financial terms of the deal were not disclosed. Torus Freight Systems was acquired in December 2012 for an undisclosed sum by Transplace and its previous private equity owner, CI Capital Partners.
Calgary-based Second Wave Petroleum Inc., a producer of crude oil and natural gas in Western Canada, has agreed to be taken private by controlling investor Brookfield Bridge Lending Fund, which is part of the private equity group of Brookfield Asset Management. The Brookfield fund earlier in May made a cash offer of 30 cents per share. Independent members of the company's board of directors have recommended the deal, which will now go to a special meeting of shareholders and option holders in June.
Volaris Group Inc., which is an operating affiliate of Toronto software company Constellation Software Inc., has acquired Funkwerk Information Technologies York Ltd., a provider of software solutions for railway operations and infrastructure, and a U.K.-based business owned by Kölleda, Germany's Funkwerk AG. Financial terms of the transaction were not disclosed. Constellation is a portfolio investment of Canadian buyout firm OMERS Private Equity, which has backed the company since 2000.
Dell Inc called on shareholders on Friday to approve a $24.4 billion buyout offer by founder and CEO Michael Dell and private equity firm Silver Lake, saying the bid was superior to other strategic options, Reuters reported.
Just how much are Bain Capital and Golden Gate Capital investing in BMC Software? Not that much.
Funky Chunky, which is backed by Consolidated Investment Group, has acquired Gracious Gifts. Financial terms weren't announced. Minneapolis-based Gracious Gifts developed FunkyChunky Chocolate Caramel Popcorn.
Dell said Friday it filed definitive proxy materials with the SEC in connection with a special meeting to be held on July 18 to approve Michael Dell's and Silver Lake's buy of the PC maker for $13.65 a share. Dell's special committee is recommending that shareholders vote to approve the takeover.