NEW YORK (Reuters) – Sprint Nextel Corp (S.N), which has been considering a sale of its Nextel unit, has received interest from Latin American service provider NII Holdings Inc (NIHD.O) and private equity firms, according to a report on the Wall Street Journal website. But the story, which cited unnamed people familiar with the situation, […]
WASHINGTON (Reuters) – TPG-Axon Capital Management reported on Thursday it owns a 3.86 percent stake, or about 81 million shares, in the common stock of regional bank National City Corp (NCC.N). The hedge fund said in a regulatory filing that it had owned more than 5 percent of the troubled bank’s outstanding shares as of […]
SunGard Data Systems Inc. has completed its $585.3 million acquisition of a majority interest in trading software company GL Trade (Paris: GLT). SunGard was acquired for $11.4 billion in 2005 by Bain Capital, Blackstone Group, GS Capital Partners, KKR, Providence Equity Partners, Silver Lake Partners and TPG Capital.
Infineon Technologies AG has sold its bulk acoustic wave business to Avago Technologies, a portfolio company of KKR and Silver Lake Partners. The deal is valued at approximately €21.5 million. Avago is currently in registration for a $400 million IPO.
Elm Creek Partners has agreed to acquire FreeFlight Systems Ltd., a Waco, Texas–based provider of navigation systems for commercial and military aircraft. No financial terms were disclosed.
The Star Tribune Co. this week missed $9 million in debt payments, which were a quarterly installment of second-lien and senior loans. The newspaper publisher originally went into default nearly four months ago, and raises new worries that it may declare bankruptcy. Avista Capital Partners bought the company last year for $530 million. www.startribunecompany.com
Marlin Equity Partners has acquired the assets of MedAvant Healthcare Solutions, a Santa Ana, Calif.-based provider of technology for the electronic exchange of medical claims and clinical information among hospitals, doctors, medical laboratories and insurance payers. No financial terms were disclosed. MedAvant had filed for bankruptcy protection back in July. www.medavanthealth.com
Transom Capital Group has acquired The Midwest Center for Stress and Anxiety, an Oak Harbor, Ohio-based provider of self-help and coaching programs to people who suffer from stress, anxiety, and depression. No financial terms were disclosed.
EQT Partners has sold Pfaff Beteiligungs GmbH to Columbus McKinnon Corp. (Nasdaq: CMCO) for €36 million in cash. Pfaff-silberblau is a European provider of lifting, material handling and actuator products. It expects 2007 revenue in excess of €62 million.
PPG Industries (NYSE: PPG) has completed the sale of a 60% stake in its automotive glass and services business to Kohlberg & Co. for approximately $270 million. The carve-out was originally slated to go to Platinum Equity for $500 million, but the firm backed out after claiming that PPG had misrepresented the business.
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