A consortium led by U.S. buyouts fund Warburg Pincus said on Wednesday it has agreed to buy around 20 percent of the retail unit of Vietnam's Vingroup Joint Stock Co for $200 million, Reuters reports.
Primerica has agreed to buy back about $154.7 million in stock and warrants from Warburg Pincus. Follow the sale, Warburg Pincus will no longer own Primerica stock. Duluth, Ga.-based Primerica distributes financial products to middle income households in North America.
Shareholders of Montréal-based engineering services provider Genivar Inc. have approved the company's re-organization plans, which include giving it a new name: WSP Global Inc. This rebranding, targeted for early 2014, follows the company's merger with U.K.-based WSP Group PLC in 2012. Genivar, which is a portfolio company of the Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board, also flagged its aim to reach $2.3 billion in net revenues by the end of 2015.
Vancouver-based Oceanic Iron Ore Corp., a company focused on developing iron ore projects located on the coast of Québec's Labrador Trough, has obtained a $3 million convertible debenture financing from Sino-Canada Natural Resources Fund. Transaction proceeds will fund negotiations with potential strategic partners, feasibility studies, and corporate and working capital purposes. Sino-Canada fund, which is managed by CapitalAsia, makes private equity investments in Canadian resource companies.
Surrey, British Columbia-based CIMS LP, a provider of mechanical maintenance and construction services to the oil and gas, mining and power generation, and pulp and paper sectors, has confirmed its acquisition of assets of the Western Canadian operations of Kamtech Services Inc., a building trades contractor based in Burnaby, British Columbia. Capital West Partners, financial advisor to Kamtech, indicated the undisclosed deal was closed by late April. CIMS is a portfolio investment of Canadian private equity firm Yellow Point Equity Partners, which has backed the company since 2011.
The board of directors of Calgary-based Logan International Inc., a manufacturer of down-hole fishing and intervention tools for the oil and gas industry, has undertaken a strategic review process, which will include seeking proposals from potential buyers. The decision was taken when directors concluded that the company's common shares trade "at a substantial discount to the inherent value" of its businesses and underlying assets. Logan has been a portfolio company of U.S. private equity firm Cadent Energy Partners since 2006.
Apache Corp is exploring a sale of a stake in its shallow water Gulf of Mexico assets, attracting private equity interest as it looks to reach a $4 billion asset sale target, Reuters is reporting.
Balance Point Capital Partners said Tuesday it provided $11.1 million in total financing to support Connoisseur Media's buy of certain assets of Cox Radio and Nassau Broadcasting. Balance Point said it provided $5.7 million in Mezzanine Notes and $5.4 million in common equity. Westport, Conn.-based Connoisseur owns and operates commercial radio stations throughout the United States.
Private equity firms KKR and Carlyle Group are among the suitors lining up bids for Singapore Telecommunications Ltd's Australian arm, Optus Satellite, Reuters is reporting.
Warburg Pincus looks like it will nearly triple its investment once it sells Bausch & Lomb to Valeant Pharmaceuticals.