(Reuters) – U.S. investment company Starwood Capital Group Global LP is attempting to gain control of lodging chain Extended Stay Inc [ESAIN.UL], the Wall Street Journal said, citing people familiar with the matter. According to the paper, a group of creditors, led by Starwood Capital, and which also includes Fortress Investment Group LLC (FIG.N) and […]
Private Investment in Public Equity (PIPE), a new report published by mergermarket in conjunction with Kramer Levin Naftalis & Frankel LLP and Rodman & Renshaw LLC, highlights a broad range of drivers expected to stimulate PIPE investment activity in the next 12 to 18 months. The survey, conducted in the third quarter of 2009, canvasses […]
Distressed investor Wilbur Ross is interested in betting on the casino sector, according to comments made during today's 2009 Reuters' Restructuring Summit. The sector has experienced turmoil in the recession thanks to its high fixed costs of operation and heavy reliance on junk bonds, he said. Ross is focused on possible investments in both U.S.-based and international casinos, and has purchased the debt of some struggling casino operators already. He hinted at a loan-to-own approach to the sector, saying his firm buys debt on the theory that a company will default.
NEW YORK (Reuters) – CIT Group Inc (CIT.N) shares surged on Tuesday following a newspaper report that hedge fund Paulson & Co wants to combine the cash-strapped lender with a Paulson-affiliated bank once known as IndyMac. But a person familiar with the matter denied the report. The New York Post, citing unnamed sources, said a […]
Novacap Technologies has led an acquisition of Pkware, a Milwaukee-based provider of enterprise data-centric security and compression software. No financial terms were disclosed. Other members of the buying consortium included Maranon Capital, Garrett Investments and members of Pkware management.
Lakeside Steel Inc. (TSX-V: LS) said yesterday that it has not received a takeover approach from John Maneely Co., following a trade publication report that John Maneely Co. had Lakeside and another company “in its sights.” John Maneely is a portfolio company of The Carlyle Group. PRESS RELEASE Lakeside Steel Inc. (TSX-V: LS) (“Lakeside” or […]
ArcLight Capital Partners has acquired oil and natural gas pipelines in the deepwater Gulf of Mexico from ATP Oil & Gas Corp. (Nasdaq: ATPG) for $78 million.
(Reuters) – Hedge fund manager John Paulson is considering merging troubled U.S. finance company CIT Group (CIT.N) with failed mortgage lender IndyMac Federal Bank, the New York Post said, citing people familiar with the matter. According to the paper, the merger, a plan floated by a number of CIT’s creditors including Paulson, is not part […]
TA Associates has acquired a minroity stake in Dealer Tire LLC, a Cleveland-based provider of logistics and program management services for the replacement tire market. No financial terms were disclosed.
Evolution Capital Partners of Cleveland has invested an undisclosed amount of equity into American Eagle Mortgage, a Loraine, Ohio-based mortgage lender providing loans in Ohio, Kentucky and Florida.