SINGAPORE (Reuters) – Singapore’s $200 billion-plus sovereign wealth fund GIC will likely reveal next week it is moving more money into property, resources and Asian assets after recently cutting its exposure to major Western banks. The Government of Singapore Investment Corp, or GIC, is due to release its annual report for the year to March […]
SEOUL (Reuters) – Shares in Hynix Semiconductor (000660.KS) tumbled on Friday on market talk the sale of a stake held by its shareholders including Korea Exchange Bank (004940.KS) could be worth less than earlier expected. Market talk that the stake sale could be discounted to as low as 3 trillion won ($2.51 billion) from the […]
LONDON/NEW YORK (Reuters) – Morgan Stanley (MS.N) is outrunning archrival Goldman Sachs (GS.N) as 2009’s busiest adviser on mergers as optimism grows that the crippling effects of the financial crisis on dealmaking may be easing. Morgan’s strong showing under new merger chief Robert Kindler not only spells prestige and fees, but marks a rebound for […]
LONDON (Reuters) – British specialist life insurer Just Retirement (JR.L) has agreed to be taken over by private equity company Permira in a 225.5 million pound ($360.5 million) cash deal. Permira-backed bid vehicle Avalon Acquisitions will pay 76 pence per share for Just Retirement and also inject 25 million pounds into the company after the […]
TORONTO (Reuters) – With its prospects for growth uncertain at best, Hudson’s Bay Co, Canada’s oldest retailer and one of its biggest department store chains, is likely to face a tough audience if it opts to offer shares to the public, industry analysts said on Thursday. The company, which was taken private in 2006, is […]
Robert Barry has joined Proskauer Rose as a London-based partner in the firm’s private funds practice. He previously was head of Travers Smith’s investment funds group. www.proskauer.com
SOFIA (Reuters) – Private equity fund Advent International has agreed to buy about 75 percent of Bulgaria’s leading water bottler Devin DEVIN.BB, majority owned by Austria’s Soravia Group, Devin said on Thursday. In a statement on the Bulgarian stock exchange’s website, Devin said that the deal was worth around 21 million to 22 million euros […]
Marcellus Taylor has acquired United Investment Managers, a Chicago-based emerging manager asset management firm with around $300 million in AUM. No financial terms were disclosed. Taylor previously was co-founder of Erasmus Advisors, a co-investment unit of Dallas-based Aldus Equity. He left Erasmus in 2007, following Deutsche Bank's acquisition of a stake in Aldus.
KPS Capital Partners has recapitalized North American Breweries Inc., just a few months after forming the company as an acquisition platform. RBS Citizens served as lead agent and co-book runner for the financing sundicate, while the other co-book runner was JP Morgan Chase Bank.
AMSTERDAM (Reuters) – A bidding war around Solvay’s drugs unit appeared to be emerging after a reported bid from Abbott valued the unit at up to 5 billion euros, rivaling an earlier, lower offer from Nycomed. The Wall Street Journal reported that Abbott has emerged as a strong competitor to buy Solvay’s drugs unit as […]