NEW YORK (Reuters) – The latest initial public offering backed by private equity firm Blackstone Group (BX.N) priced shares below expectations on Tuesday, and sold fewer shares than anticipated, according to an underwriter. Hospital staffing company Team Health Holdings Inc priced shares at $12, each, and raised about $159.6 million. It had originally expected to […]
HONG KONG (Reuters) – China Pacific Insurance (Group) Co Ltd, the country’s third-largest life insurer, raised US$3.1 billion in the world’s seventh-largest IPO this year, when it priced its Hong Kong initial public offering near the middle of an indicated range, a source familiar with the deal said on Wednesday. Shanghai-listed China Pacific (601601.SS), part-owned […]
PHILADELPHIA (Reuters) – Creditors of bankrupt Philadelphia Newspapers LLC should not be allowed to use their secured debt in a bid for the company because that would discourage cash bidders, an attorney for the company told an appeals court on Tuesday. As the battle for control of the publisher of The Philadelphia Inquirer, Philadelphia Daily […]
NEW YORK (Reuters) – Macquarie (MQG.AX) on Tuesday said it hired former Barclays co-head of industrials Robert Bertagna to lead its industrials investment banking effort in the United States. Bertagna will start at the Australian investment bank in March, based in New York. His title will be senior managing director and head of industrials in […]
SAO PAULO (Reuters) – U.S.-based buyout firm Carlyle Group may pay around $250 million for about 60 percent of CVC Turismo, Brazil’s largest tourism agency, a source with direct knowledge of the deal told Reuters on Tuesday. Sao Paulo-based CVC, majority owned by entrepreneur Guilherme Paulus, and Carlyle are in exclusive talks for the transaction, […]
RLJ Equity Partners and Spell Capital Partners have acquired an unspecified ownership interest in LAI International, a Scottsdale, Ariz.-based maker of precision engineered components for industries like power generation, aerospace, defense and healthcare. No finacial terms were disclosed.
Ames Taping Tools, a Duluth, Ga.-based maker of automatic taping and finishing tools, announced plans to file for bankruptcy protection, as part of a prepackaged reorganization. Under terms of the deal, Ames assets will be sold to existing company backers Aurora Capital Group, GSC Group and Saybrook Corporate Opportunity Fund.
Riveron Consulting, a financial consulting firm serving private equity funds, named Chaitan Fahnestock managing director of the firm’s newly opened Chicago office.
Rambus Inc. (Nasdaq: RMBS) has agreed to buy the technology and IP parents of Global Lighting Technologies Inc., a Brecksville, Ohio-based maker of backlighting modules for flat panel display devices, for $26 million. GLT raised a $25 million funding round in 2000, from firms like Warburg Pincus and Baring Private Equity Partners.
Milestone Partners has completed its acquisition of Mariner Finance LLC from First Mariner Bancorp (NasdaqGM: FMAR). No financial terms were disclosed. Mariner Finance is a Baltimore-based provider of medium-term installment loans, related credit insurance and ancillary products to near-prime borrowers.