Mid Europa Partners has agreed to acquire Invitel Holdings AS (AMEX: IHO), a fixed-line telecom and broadband internet services provider in the Republic of Hungary. The deal would involve three separate transactions: Mid Europa would pay $10.8 million to TDC AS for its 64.6% stake in Invitel; Mid Europa would purchase all of TDC’s rights and obligations under a €34.1 million subordinated PIK loan (which would be increased up to €91.4 million); and Mid Europa would launch a tender offer for the outstanding €125 million floating rate senior PIK notes due 2013 (held by Invitel).
NEW YORK, Sept 29 (Reuters) – Ladder Capital Realty Finance Inc (LCG.N) shelved its planned initial public offering indefinitely, becoming the latest mortgage real estate investment trust (REIT) to struggle in its efforts to come to market. Ladder Capital was seeking to raise $400 million with which to originate, buy and manage a portfolio of […]
MUMBAI (Reuters) – Private equity firms Carlyle Group and 3i (III.L) are among those holding preliminary discussions to take a minority stake in India’s Strides Arcolab’s (STAR.BO) injectables business, the Economic Times reported on Wednesday, citing banking sources. The Indian drug maker has hired investment bank Lazard (LAZ.N) and expects to raise between $170 million […]
NEW YORK (Reuters) – McGraw-Hill Cos Inc (MHP.N) is leaning toward selling its money-losing BusinessWeek magazine to Bloomberg LP, although another bidder could still make a higher offer, a person familiar with the matter said. A deal still could take weeks, or could fall apart because of depressed magazine advertising and uncertainty in the financing […]
(Reuters) – U.S. investment company Starwood Capital Group Global LP is attempting to gain control of lodging chain Extended Stay Inc [ESAIN.UL], the Wall Street Journal said, citing people familiar with the matter. According to the paper, a group of creditors, led by Starwood Capital, and which also includes Fortress Investment Group LLC (FIG.N) and […]
Quantum Energy Partners has closed its fifth fund with $2.5 billion in capital commitments. Champlain Advisors served as placement agent.
Houlihan Lokey has launched a transaction advisory services group, which will provide clients with financial and tax due diligence services as they evaluate acquisition or investment targets. It will be led by Sam Clark, a managing director in the firm's Dallas office.
Princeton University's endowment lost 23.7% for the year ending June 30, according to a letter sent out today by school president Shirley Tilghman. She reported the June 30 endowment value at $12.6 billion, compared to $16.3 billion a year earlier. Tilghman acknowledges concerns that the school's emphasis on illiquid alternative investments, but insists that the endowment would be much smaller were Princeton to follow a more "traditional" investment strategy. She adds that the school is undergoing a review of its endowment strategy, and that early indications are that "marginal, not radical, changes may be warranted."
NEW YORK (Reuters) – CIT Group Inc (CIT.N) shares surged on Tuesday following a newspaper report that hedge fund Paulson & Co wants to combine the cash-strapped lender with a Paulson-affiliated bank once known as IndyMac. But a person familiar with the matter denied the report. The New York Post, citing unnamed sources, said a […]
NEW YORK (Reuters) – RailAmerica Inc (RA.N), which owns and operates short-line and regional freight railroads in North America, has set the terms for its planned initial public offering, which is scheduled for October. RailAmerica said in an updated prospectus filed with U.S. regulators it expects to sell 21 million shares for between $16 and […]