Huntsman Gay Global Capital has bought Turner Bros. Holdings LLC from Saw Mill Capital for an undisclosed amount. Turner is a Houston, Texas-bhased provider of lifting and transportation solutions to the U.S. industrial and energy markets. Edgeview Partners managed the sale process.
Sichuan Zhiquan Special Cement, a Chinese cement maker, has raised $40 million in convertible preferred stock financing co-led by Merrill Lynch and Lunar Capital Management. Eos Asia Investments served as placement agent, and “is preparing the company for a possible overseas IPO in 2010.”
HONG KONG (Reuters) – Hong Kong telecommunications company PCCW (0008.HK) said on Sunday it has ended the sale of a stake in its new HKT unit, citing the market upheaval. The auction for HKT, a business estimated to be worth more than $3 billion which had attracted several private equity bidders, is the second major […]
LONDON (Reuters) – Premier Foods (PFD.L), Britain’s biggest food manufacturer, is in talks with private equity firm CCMP Capital about a major cash injection, the Sunday Telegraph reported. Premier Foods, which saw its shares fall in August over renewed concerns about debt levels, makes Hovis bread, Mr Kipling cakes, Branston pickle and Oxo cubes. The […]
NEW YORK (Reuters) – Financing is getting pricier and more elusive for companies that file for bankruptcy. Debtor-in-possession – or DIP – financing is the fuel that keeps companies going through bankruptcy, allowing them to continue paying their suppliers and their employees as they try to become profitable again. It has been a popular and […]
HONG KONG (Reuters) – U.S. private equity firm Blackstone Group (BX.N) has dropped a deal worth about $160 million to buy a commercial building in Shanghai because of worsening market conditions, a newspaper reported on Monday. Blackstone had been keen to push into the Chinese property market, and sources told Reuters in August that the […]
DUBAI (Reuters) – Bahrain and London-listed Investcorp’s (INVBq.L) president and chief operating officer Gary Long said on Monday the investment firm’s portfolio companies were under stress, getting leverage for deals was difficult and investors were nervous. “Certainly alternative investment firms like Investcorp are being negatively impacted” by the financial turmoil, Long said, speaking at the […]
DETROIT/NEW YORK (Reuters) – General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter. Separately, Ford Motor Co, plans […]
NEW YORK (Reuters) – A former chief executive of the Duane Reade Holdings Inc drugstore chain pleaded not guilty on Friday to securities fraud, conspiracy and charges of making false statements to securities regulators. Former CEO Anthony Cuti, 63, is accused of providing false information during negotiations over the purchase of Duane Reade, previously a […]
SAO PAULO (Reuters) – Private equity funds remain optimistic that Brazil’s farm sector offers investment opportunities despite the deteriorating world credit market, executives said on Thursday. “In the emerging markets where people have began to eat beef, such as China, this trend is very stable,” said the president of local meatpacker Mercosul, Augusto Marques da […]