London-based private equity fund Pamplona Capital Management is in talks to buy a majority stake in Turkish hospitals group Medical Park, writes Reuters. U.S. private equity firm Carlyle Group acquired a 40 percent stake in Medical Park in 2009 for an undisclosed amount alongside businessmen Muharrem Usta and Haydar Sancak, who each own 30 percent.
Online gambling company Betfair has rejected a $1.4 billion takeover offer from private equity firm CVC Capital Partners and other investors, writes Reuters. Betfair said it had received a preliminary proposal on Friday from CVC, Richard Koch, Antony Ball and partners offering 880 pence per share in cash or an unlisted securities alternative made up of shares and loan notes in a new entity, writes Reuters.
Calgary-based Logan International Inc., a manufacturer of down-hole fishing and intervention tools for the oil and gas industry, has completed its acquisition of the Sup-R-Jar drilling equipment business of Smith International Inc. The entire purchase, which was funded by the company's revolving credit facility, totaled US$17.2 million. Logan is a portfolio company of U.S. private equity firm Cadent Energy Partners.
American Capital said Friday that its sponsor finance group invested over $59 million in three companies during first quarter. In March, American Capital invested in a second lien facility to support the refinancing of Total Safety, which is owned by another PE firm. Also that month, American Capital invested in a second lien facility to support the buy of Datapipe by another PE firm. In February, American Capital invested in a new first lien facility as part of the refinancing of its portfolio company, Neways.
The Carlyle Group has made a "significant" investment in Addison Lee. Financial terms weren't announced. Addison Lee is a U.K. taxi company. The investment comes from Carlyle Europe Partners III L.P., a 5.4 billion Euro (US$7 billion) fund that makes mid and large cap investments. Reuters says the investment was in the region of 300 million pounds ($458.8 million).
The Blackstone Group has informed Dell's Special Committee of the Board that it will not submit a definitive bid to acquire the PC maker and is withdrawing from the process.
(Reuters) - Blackstone Group LP has ended its pursuit of Dell Inc., three people familiar with the matter said on Thursday, easing the way for founder Michael Dell and his private equity partner Silver Lake to go ahead with a $24.4 billion deal to acquire the world's No. 3 PC maker.
KKR has agreed to buy a majority stake in SMCP Group of Paris. Financial terms were not announced. KKR will have about 65% of SMCP while management will retain 35%. SMCP is an apparel retailing group, that operates in the attractive affordable luxury apparel segment across four brands: Sandro, Sandro Men, Maje and Claudie Pierlot.
CIC Bancshares has received an investment from Consumer Capital Partners and Rick Schaden, CPR's founder and chairman. Financial terms weren't announced. Denver-based CIC operates Centennial Bank.
The New York Public Service Commission has approved a plan to build the Champlain Hudson Power Express transmission line, capable of moving 1,000 megawatts of hydropower over a 330-mile distance from Québec to New York City. According to Reuters, developer Transmission Developers Inc., whose lead investor is U.S. private equity firm Blackstone Group, has estimated the project will take over three years to construct at an estimated cost of US$2.2 billion. The Québec part of the line will be developed by Hydro-Québec.