Baring Private Equity Asia has acquired a 16.5% stake in Singapore-listed confectioner Hsu Fu Chi. The deal was valued at US$135 million. www.bpeasia.com
HONG KONG (Reuters) – Baring Private Equity Asia has hired Swiss bank UBS (UBSN.VX) (UBS.N) to advise on the sale of its Malaysian portfolio company Courts Mammoth, in a deal that may fetch $300 million, sources said on Monday. Courts, Malaysia’s largest consumer electronics and furniture retailer and once listed in both Kuala Lumpur and […]
Peter Comb has stepped down as head of Permira Debt Managers, an independent business formed in early 2007 by Permira Advisors, according to Dow Jones. Prior to joining Permira Debt Managers, Comb had been with Lehman Brothers as chairman of leveraged finance and co-head of financial sponsors. No word yet on his future plans. www.permira.com/about-us/pdm
Luke Belcastro and Peggy Marshall have joined Jefferies as New York-based managing directors in the firm's fund placement group. They previously were with Mallory Capital Group as a partner and principal, respectively. Jefferies also has hired Joseph Nagae as a London-based senior vice president. He previously was a director in Citigroup's fund placement unit.
Lightyear Capital has agreed to acquire $40 million of common stock in Bend, Ore.-based community bank Cascade Bancorp (Nasdaq: CACB). Existing Cascade shareholder David Bolger also agreed to buy an additional $25 million worth of common stock.
Platinum Group has acquired the assets of G.C. Peterson Machinery Co., a Minneapolis-based maker of woodworking and plastics equipment. No financial terms were disclosed.
HONG KONG (Reuters) – Singapore state investor Temasek, Blackstone Group (BX.N) and KKR are among the firms expected to submit first-round bids for AXA’s (AXAF.PA) stake in Taikang Life, sources said on Monday, an investment that te French insurer values at $1.05 billion. Taikang’s total assets are worth $28.12 billion, according to an auction-related document […]
NEW YORK (Reuters) – CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans. The bankruptcy, one of the largest in U.S. corporate history, has been widely expected for […]
NEW YORK (Reuters) – Fortress Investment Group may aggregate $650 million in commercial loans into the first new commercial mortgage-backed security eligible for a federal lending program, Commercial Mortgage Alert reported on Friday. Bank of America Corp. would arrange the sale that may include $414 million of senior debt and a $236 million mezzanine loan, […]
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co’s discount retailer Dollar General Corp (DG.N) set the terms of its initial public offering on Friday, in a sign that the $750 million offering could price by mid-November. In an updated prospectus filed on Friday with U.S. Securities and Exchange Commission, Dollar General said it planned […]