German state-controlled bank WestLB is in exclusive talks with private equity firm Apollo Global Management over a sale of its real estate unit, Reuters reported Wednesday. Earlier reported had valued the unit, WestImmo, at about 400 million euros ($567.9 million).
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Vodafone is reportedly in talks with private equity funds about selling a stake in its Indian mobile operations, Reuters reported, citing the Economic Times. The company is reportedly talking with at least two buyout firms. Earlier this month, Vodafone bought out its partner, Essar, from the Indian venture, Reuters said.
It looks like CVC Capital partners will be buying ConvergEx. In May, peHUB reported that ConvergEx had put itself up for sale. At the same time, ConvergEx was pursuing a $400 million IPO in a dual track process. Goldman Sachs is advising on the auction, while J.P. Morgan is lead bookrunner on the IPO (Goldman is also an underwriter on the IPO), sources have told peHUB.
Middle market financing provider Crystal Financial will add Cheryl Carner, Mirko Andric and Jon Wyeth to its’ Boston Office. Carner will be a managing director, Andric joins as a VP and Wyeth joins as an associate. Carner comes with experience at GE Capital, Franchise Finance and CapitalSource.
Komli Media, the digital media tech platform, bought ZestADZ, another mobile ad platform, based in India. Komli is headquartered in Mumbai with international offices and is backed by Norwest Venture Partners, Nexus Venture Partners and Helion Venture Partners.
All of a sudden, private equity can’t stop taking notice of education deals. The week after KKR’s new education platform made its first deal, Providence Equity Partners-backed Ascend Learning acquired PrepMe Adaptive Learning, the Chicago-based publisher of online courses and educational materials. PrepMe was founded by Avichal Garg and Karan Goel. Terms of the deal were not disclosed.
Teaneck, New Jersey-based private equity firm Hudson Clean Energy Partners has announced the appointment of Zhongmin Shen as a partner who will oversee Hudson’s operations in China. Shen joins Hudson from Huaneng Invesco WLR Investment Consulting, where he was CEO. Previously, Shen was a managing director at CLP Holdings and the COO of China Resources Power Holdings […]
Magellan Biosciences, the Boston-based diagnostics company, sold its TREK Diagnostic Systems, the company’s microbiology business, to strategic acquirer Thermo Fisher Scientific. Terms of the deal were not publicized. Backers of Magellan include Abingworth Management, Hambrecht & Quist Capital Management, KBL Healthcare Ventures, Ampersand Ventures, New England Partners Capital LP, Nexus Medical Partners II SICAR, and Boston Community Venture Fund.
Oak Investment Partners is set to exit PayFlex Holdings after five years. Yesterday, Aetna announced it was buying PayFlex, an Omaha provider of web-based benefit administration services, for about $202 million. The deal is expected to close during the second half of this year. Aetna will buy PayFlex using available resources, a spokesman says. The transaction will be neutral to Aetna's financial results, according to a statement.