Japan’s Olympus Corp revealed a $1.1 billion dent in its balance sheet triggering speculation it will need to merge, sell assets or raise capital to repair its finances, writes Reuters. The manufacturer of cameras and medical equipment filed five years’ worth of corrected statements, plus overdue first-half results, just hours before a Tokyo Stock Exchange […]
France’s Credit Agricole will unveil a fresh round of cutbacks in investment banking, including job cuts and country exits, writes Reuters. The bank is also close to announcing the sale of its private-equity activities, writes Reuters. (Reuters) – France’s Credit Agricole will unveil a fresh round of cutbacks in investment banking, including job cuts and […]
Indonesian listed oil company PT Medco Energi Internasional is to sell a majority stake in its power unit PT Medco Power to private equity firm Saratoga Capital, writes Reuters. Medco Energi CEO Lukman Mahfoedz told Reuters it has invited Saratoga to expand Medco Power to help tap growing electricity demand. (Reuters) – PT Medco Energi […]
Private equity firm Thomas H. Lee Partners is in the lead to buy consumer-health assets from GlaxoSmithKline, writes Reuters. Glaxo has been hoping to receive second-round bids for a clutch of its non-prescription drugs – which include its diet pill Alli, Lactacyd soap, FiberChoice diet supplements and Nytol sleep aid, writes Reuters. (Reuters) – Private […]
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US based digital media services provider Encompass Digital Media has entered into a definitive agreement with private equity firm Court Square Capital Partners under which funds managed by Court Square will acquire a majority interest in the company from selling shareholders including Wasserstein & Co. Financial terms of the transaction were not disclosed. PRESS RELEASE […]
MarkWest Energy Partners Announces Intent to Acquire Remaining 49% Interest in Liberty Joint Venture
Denver-based MarkWest Energy Partners has announced plans to acquire the 49% of MarkWest Liberty Midstream & Resources that it doesn’t already own from the Energy & Minerals Group. MarkWest already has extensive natural gas gathering, processing, and transmission operations in the southwest, Gulf Coast, and northeast regions of the United States, including the Marcellus Shale. PRESS RELEASE: […]
Comvest Capital, the West Palm Beach, Fla.-based middle-market private equity firm, has hired Dan Lee as a managing director. Lee was a founding member of Dymas Capital, a middle market lending platform backed by Cerberus Capital. He also cofounded Square 1 Bank’s late-stage lending group, and served as a managing director at Kugman Partners, among […]
2x Consumer Products Growth Partners has backed The MegaFood and Innate Response brands of whole food nutritional supplements (owned by BioSan Laboratories). 2x Partners joins majority investor The Riverside Company and longtime owner and former CEO Carl Jackson, who retired in May but continues to be an active advisor and member of the board of […]
Electronic Control Security, a provider of integrated entry control and perimeter security system technologies to the government and private sectors has decided to terminate its drawdown equity financing agreement with Auctus Private Equity Fund. The company decided that it would not be in the its best interest to retain or move forward with the equity […]