Providence Equity Partners has completed its acquisition of a 25% equity stake in online automotive shopping site AutoTrader.com, a subsidiary of Cox Enterprises Inc. No financial terms were disclosed. Cox was advised on the sale by Goldman Sachs.
SAO PAULO (Reuters) – Brazilian processed foods company Marfrig Alimentos SA (MRFG3.SA) said it reached an agreement to buy major U.S. distributor Keystone Foods for $1.26 billion, in a bid to expand as a supplier to some of the world’s largest restaurant chains. Under terms of the agreement, Sao Paulo-based Marfrig plans to buy 100 […]
ABRY Partners has put healthcare outsourcer Executive Health Resources on the block, peHUB has learned. UBS is advising on the auction that is now in the late stages, according to multiple sources. It’s not clear how much ABRY owns of Executive Health, except that it's believed to be "a significant stake." Executive Health’s management also owns a chunk.
Brazos Private Equity Partners has invested an undisclosed amount in Flint Trading Inc., a Thomasville, N.C.-based maker of preformed thermoplastic road and safety markings.
Exopack Holding Corp., a packaging platform sponsored by Sun Capital Partners, has agreed to buy the Menasha, Wis. and Tulsa facilities of Bemis Co. (NYSE: BMS). The deal is valued at $81 million in cash.
NEW DELHI (Reuters) – Reliance Communications’ (RLCM.BO) plan to open up its telecoms tower unit to investors signals the ammunition India’s No. 2 mobile operator can tap as it aims to cut its huge debt in a fiercely competitive market. Carriers in India’s cut-throat cellular sector, also the world’s fastest-growing – with more than 600 […]
(Reuters) – Telecom and media tycoon Richard Li’s private equity fund may lose control of a debt-laden Bulgarian telecommunications operator as junior lenders are battling to take it over, a newspaper reported on Tuesday. Vivacom, Bulgaria’s biggest fixed-line operator, was set to breach agreements on its 1.64 billion euros ($2 billion) in loans by the […]
LONDON (Reuters) – Buyout company Cinven said Britain’s Spice Plc (SPI.L) had rejected a takeover bid that values the provider of engineering and support services to utility companies at almost 200 million pounds ($309.3 million). Prompted by a 7 percent climb in Spice shares on Monday, Cinven issued a statement saying that it had proposed […]
The Newsweek auction has taken a turn toward the fanciful. The weekly magazine, which was put up for sale last month by The Washington Post Co., is seeking bids of between $15 million and $20 million, according to a banking source said. The relatively high price tag comes despite the fact that Newsweek does not have EBITDA. “No, I don’t think they will get it,” the source said. Is this a wild swing for the fences? Is it just a trial balloon? Maybe a bit of both, since a buyside source said he hadn't heard the $20 million figure (no comment on the $15m).
BP Gets Scared: BP has hired Goldman Sachs, Credit Suisse and the Blackstone Group to to advise on its options as it faces financial and political pressure over the Gulf of Mexico oil spill. Who would buy them? Free WiFi with your latte: Starbucks said it will provide free WiFi in all its stores beginning on July 1. Hooray! Embezzling for that perfect fern: Scott Welch allegedly stole $11.2 million from Wachovia and use the money to landscape. This is not a joke. Another blow to books: News Corp. inks a deal to buy Skiff, the e-reader company backed by the Hearst Corporation.