FRANKFURT, March 21 (Reuters) – Media mogul John Malone’s Liberty Global will buy Kabel BW after private equity firm CVC declined to raise its offer in a fierce battle for the German cable operator. The deal values Kabel Baden Wuerttemberg at 3.16 billion euros ($4.48 billion), Swedish buyout firm EQT said Monday. Over the weekend, […]
Pennsylvania-based private equity firm L2 Capital Partners will acquire Landfill Service Corp., a New York-based supplier of landfill products and equipment. McGladrey Capital Markets worked on the transaction and was exclusive advisor to Landfill Service Corp. Terms of the transaction were not publicized.
Hilltop Holdings and Oak Hill Capital have agreed to each invest $50 million via a loan to SWS Group. Hilltop and Oak Hill will each end up owning about 17% of SWS Group, a broker dealer, according to a statement said Monday. Stephens Inc. acted as financial advisor to each of Hilltop and Oak Hill Capital, while Sandler O'Neill + Partners was financial advisor to SWS Group.
March 21 (Reuters) - Chipmaker NetLogic Microsystems Inc said it will buy a privately held fabless semiconductor provider for an initial $77 million in cash, to expand its footprint in the 4G long-term evolution (LTE) market. Optichron Inc's advanced processors will support wider signal bandwidth, spectrum maximization and power efficiency for carriers deploying next-generation LTE, NetLogic said. "The exponential growth in mobile data traffic in the next five years, coupled with global spectrum scarcity, are forcing service providers and operators worldwide to push the limits on capacity and throughput for their limited spectrum," NetLogic said in a statement.
The IPO of Apollo Global Management looks to be back on track. Today, Apollo said it was planning to raise about $473 million by offering roughly 26.3 million class A shares at $17 to $19 each. Apollo itself is selling 18 million shares while certain shareholders are offering about 8.3 million shares. Joint bookrunners on the deal include Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank Securities and UBS Investment Bank. Underwriters on the deal have an option to buy another 3.9 million shares, according to a statement.
Tyco International Ltd. will pay $300 million for a 75% stake in valve maker KEF Holdings Inc., Reuters reported. Based in the United Arab Emirates, KEF Holdings sells valves for the oil and gas sector. As part of the deal, Dubai International Capital LLC, the private equity investment arm of Dubai Holding, will sell its 45% stake in the company for $178 million. It acquired the stake in 2008 for $126 million, Reuters said.
Swedish private equity firm Ratos will buy the cinema business of Finnish media group Sanoma in a deal valued at 116 million euro ($164.4 million), Reuters reported. The deal is subject to authority approvals in Finland and Latvia, Reuters wrote.
Private equity firm CVC has until today to up its 2.9 billion euro ($4.1 billion) bid for German cable operator Kabel BW if it wants to beat Liberty Global's bid, Reuters reported. Liberty Global upped its bid to 3.1 billion euros ($4.4 billion) on Saturday, Reuters said.
Publicly traded SWS Group Inc. has raised $100 million in new financing from Hilltop Holdings Inc. and Oak Hill Capital Partners. Under the terms of the deal, the two firms will each contribute $50 million in debt financing. Simultaneously with the loan, SWS Group will issue a warrant to each of Hilltop and Oak Hill Capital. Upon exercise, Hilltop Holdings and Oak Hill Capital will each own approximately 17% of the Company. Dallas-based SWS Group provides investment and financial services through its subsidiaries.
Prospect Capital Corp. has provided a $60 million first-lien senior secured credit facility for Safe-Guard Products International. Safe-Guard, a third-party administrator of finance and insurance for motor vehicles, is owned by private equity firm H.I.G. Capital. Safe-Guard is based in Atlanta.