Ziggo has received commitments from a number of banks to provide a new 800 million euro ($1.03 billion) senior secured credit facility. The new credit facility is being provided by ABN Amro Bank N.V., BNP Paribas Fortis SA/NV, Cooperative Centrale Raiffeisen Boerenleenbank B.A. (trading as Rabobank International), Credit Suisse AG London Branch, Goldman Sachs International, ING-DiBa A.G., J.P. Morgan Limited, Morgan Stanley Bank International Limited and Société Générale, London Branch.
Billionaire Phil Anschutz took his Los Angeles-based sports, music and arena conglomerate off the market because he felt reinvigorated after back surgery and didn't like "the noise" surrounding the sale, Reuters reported. Anschutz announced the end of the heavily watched sale process on Thursday despite multibillion-dollar offers that the 73-year-old Denver dealmaker said might have led to successful negotiations for the privately-held company, AEG. It had drawn second-round bids by Colony Capital, Guggenheim Partners and Los Angeles biotech billionaire Patrick Soon-Shiong, people familiar with the deal process told Reuters.
Kinderhook Industries has sold of IAX Acquisition Corporation, parent company of Absorption Corp., to buyer J. Rettenmaier & Söhne Group. Terms were not released, though Kinderhook said that the deal resulted in a return of approximately 2.4x for Kinderhook Capital Fund III.
DirecTV, the largest U.S. satellite television provider has decided to end its pursuit of Vivendi's GVT, complicating the sale of the Brazilian telecommunications operator, Reuters reported. A DirecTV spokesman confirmed on Thursday that the company chose to "not to move forward in its pursuit of GVT and has withdrawn from the process." The move is a major setback for Vivendi because it removes the only strategic buyer from the bidding. According to two people familiar with the group's thinking, the sale has been put on hold. The other bidder was a consortium of private equity groups led by KKR that offered a lower price than DirecTV, Reuters previously reported.
While the sale of the parent of the Chicago Tribune is drawing interest from Lee Mitchell of private equity firm Thoma Bravo LLC, a much smaller weekly paper in Boston plans to shut down for lack of a buyer.
After their purchase of BioClinica, a clinical train management services firm, and the medical imaging and cardiac safety services company CoreLab Partners, middle market firms JLL Partners and Ampersand Capital Partners have combined the two companies under the name BioClinica.
While in the U.S., the picture for women in the field of private equity remains largely unchanged, a decidedly different picture is emerging in Asia, says Preqin, the PE data provider.
NVM Private Equity has sold Interlube Systems, to a subsidiary of US-based The Timken Company. The sale represents a money multiple of 3.0x on NVM’s original investment.
Private equity firm TPG Capital has purchased the highly sought after assets of Australian poultry firm Ingham Enterprises, Bob Ingham confirmed in a statement, writes Reuters. Ingham wouldn't confirm the deal valued Australia's largest poultry producer at around A$1 billion ($1.02 billion) and that TPG paid more than A$850 million, including a small cash earn-out, as reported by the Australian newspaper.
U.S. private equity firm Apollo Global Management LLC is in talks to sell its 11 percent stake in India's largest direct-to-home satellite service operator Dish TV India Ltd, Reuters reported on Wednesday. The stake has a market value of about $144 million. Apollo, which manages about $113 billion globally, has hired UBS to run a process to sell its holding.