LONDON (Reuters) – A consortium of three debt investors has won control of French roofing materials group Monier, forcing previous owner PAI Partners to take a 256 million euro ($358 million) hit. Apollo Management [APOLO.UL], TowerBrook and York Capital secured the backing of Monier’s senior lenders at the end of last week, a spokeswoman for […]
Energy Investors Funds has acquired the largest equity stake in Astoria Energy II LLC, a company created to develop, construct, own and operate a new natural gas-fired power plant in the Astoria neighborhood of Queens. No financial terms were disclosed.
(Reuters) – Auto parts supplier Proliance International Inc (PLI.A) filed for bankruptcy protection in a Delaware court Thursday and said it agreed to sell all its U.S. assets to Centrum Equities XV LLC for $21.5 million. The company, which makes aftermarket heat exchange and temperature control products, said the sale would be supervised by the […]
Access Intelligence LLC, a Rockville, Md-based B2B information and marketing company backed by , has acquired Contexo Media, a Salt Lake City-based provider of medical coding and reimbursement books and software to the medical billing industry. No financial terms were disclosed. Access Intelligence is a portfolio company of Veronis Suhler Stevenson.
TORONTO (Reuters) – Onex Corp (OCX.TO) said on Thursday it acquired a majority stake in the Tropicana Las Vegas Hotel and Casino after the property emerged from bankruptcy protection. The Canadian private equity firm, which is the largest secured debt holder of the Tropicana, received an equity stake in the complex as part of a […]
HONG KONG (Reuters) – Two Chinese entities are set to invest around $800 million for 20 percent of China Mengniu Dairy (2319.HK), a source familiar with the matter said, the latest cash infusion for an industry recovering from a tainted milk scandal. One investor would be Hopu Investment Management, a private equity fund founded by […]
NEW YORK (Reuters) – MatlinPatterson Global Advisors, a private equity firm specialising in distressed investments, is considering leading a rescue bid for the whole of Nortel Networks, The Financial Times reported on Sunday. The New York-based company is trying to put together a consortium of investors to fund a recapitalisation of the Canadian company, the […]
LONDON (Reuters) – Debt-troubled UK heating products maker Baxi said on Friday it had agreed to merge with Dutch rival De Dietrich Remeha to boost its capital position and create one of Europe’s biggest heating products companies. Private equity-owned Baxi, which had debt of around 630 million pounds ($1 billion) at the end of 2008, […]
DETROIT/NEW YORK (Reuters) – Billionaire investor Wilbur Ross is among those considering a bid for the assets of bankrupt auto parts supplier Delphi Corp (DPHIQ.PK), two people with knowledge of the matter said on Thursday. Hedge fund Elliott Management is also preparing a credit bid for Delphi, which was spun off by General Motors Corp […]
Global investors Carlyle and Primus are among the bidders for AIG’s (AIG.N) Taiwan insurance unit, sources said on Friday, as the troubled U.S. insurer looks to divest some of its global assets. Friday is the deadline for interested companies to submit their proposals to purchase Nan Shan Life, AIG’s Taiwan unit, in a deal that […]