Australia's top supermarket chain Woolworths Ltd. agreed to sell its Dick Smith Electronics chain in Australia and its Indian wholesale venture for a combined A$55 million ($56.88 million) under a plan to exit the consumer electronics segment. Woolworths said private equity firm Anchorage Capital Partners will buy the Dick Smith chain for initial cash proceeds of A$20 million, compared with A$200 million expected by analysts last year when the plan was announced as a weak retail environment takes its toll, Reuters wrote.
Cosmetics company Physicians Formula Holdings Inc. said it will be bought by privately held peer Markwins International Corp. for about $75 million in cash. The announcement comes two weeks after Physicians Formula said it received a go-private offer from an unnamed party at $4.90 per share, Reuters wrote. The company had earlier agreed to be taken private by Swander Pace Capital for $4.25 per share, in the absence of a more attractive offer.
Invesco Ltd. is set to buy a 49 percent stake in the asset management unit of India’s Religare Enterprises Ltd, controlled by billionaire brothers Malvinder and Shivinder Singh, for about 4.5 billion rupees ($84 million), a source with direct knowledge of the deal said, Reuters reported Thursday. (Reuters) – Invesco Ltd is set to […]
Cerberus Capital Management LP may sell its entire 55 percent stake in Japan’s Aozora Bank Ltd, the lender said on Thursday, sending its shares down more than 9 percent in their biggest one-day fall in a year, Reuters reported. Cerberus intends to sell part of the 821 million Aozora shares it owns in a share […]
American Family Insurance has agreed to buy PGC Holdings Corp. and its subsidiaries, including non-standard auto insurers Permanent General and The General. The deal is valued at $239 million. Capital Z Partners is the seller. Nashville, Tenn.-based Permanent General provides non-standard coverage, and partner retail store alliances to the non-standard auto insurance market. Permanent General reported direct written premiums of $270 million at the end of 2011.
Fireman Capital Partners announced yesterday it agreed to invest in Squatters and Wasatch beers. Financial terms were not announced. The Squatters and Wasatch brewery, of Utah, is a leading craft brewer and sells beer in 12 states. Fireman Capital Partners, of Boston, is a consumer-focused buyout and growth equity firm.
The consortium seeking to buy Transics International, the Belgian maker of on-board computers for trucks, said on Wednesday that it was extending its offer for a further month after receiving 66.1 percent of the company, Reuters wrote Wednesday. In April, a consortium including Chief Executive Walter Mastelinck and Belgian investment fund Creafund launched a 7.50 […]
Kohlberg Kravis Roberts & Co. L.P. has formed a joint venture with Hines and Pinto Realty Partners to develop Pinto Business Park, a 971-acre master-planned business park located in Houston, Texas, the firn announced Wednesday. PRESS RELEASE Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) today announced the formation of a joint […]
Woongjin Holdings said the sale of water purifier maker Woongjin Coway to local private equity fund MBK Partners was “halted” after the holding company filed for court receivership earlier on Wednesday, throwing the $1.1 billion deal into question, Reuters reported Wednesday. Woongjin Holdings is Woongjin Coway’s largest shareholder with a 28.4 percent stake. MBK Partners […]
Crofton Capital announced Tuesday that it has acquired New York-based CognitiveTPG, a supplier of point-of-sale transaction and barcode printers. Capital partnered with DeltaPoint Capital Management and Boston Harbor Capital on the deal. Additional financing was provided by Pine Street Capital Partners. Terms of the deal were not released. PRESS RELEASE Crofton Capital, LLC, a […]