FCI Group, a portfolio company of Bain Capital, has agreed to sell its electrical division (Burndy) to Hubbell Inc. No financial terms were disclosed for the deal, which is expected to close by year-end.
TORONTO (Reuters) – Sweden’s Ericsson has won an auction for the wireless assets of bankrupt Nortel Networks Corp, paying $1.13 billion for the crown jewels of the one-time Canadian telecom star. In separate statements, the two companies said on Saturday Ericsson had won the bidding for Nortel’s key CDMA and next-generation LTE wireless technologies, which […]
NEW YORK (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co paid $7.9 million for the use of private aircraft in 2008, according to a document made public on Friday. Of that, $6 million was paid to entities collectively controlled by KKR’s founders Henry Kravis and George Roberts, it says. The 400-page document was […]
MILAN (Reuters) – A private equity deal is looking the most likely solution in Safilo’s (SFLG.MI) quest to strengthen its balance sheet, as Bain Capital remains the last contender in a race for a stake in the debt-laden eyewear maker. The Dior and Gucci eyewear maker has net debt of around 600 million euros ($852 […]
(Reuters) – Private equity giant Kohlberg Kravis Roberts & Co is considering listing on either the Nasdaq stock market or the New York Stock Exchange, according to a document sent to unitholders of its KKR Private Equity Investors LP on Friday. KKR has been trying for two years to follow rival Blackstone Group in becoming […]
NEW YORK (Reuters) – Warren Buffett said he has no plans to soon exercise Berkshire Hathaway Inc’s warrants to buy $5 billion of Goldman Sachs Group Inc stock, although he could make a big profit by doing so. Berkshire got the warrants in September when it also bought $5 billion of Goldman preferred shares, which […]
PHILADELPHIA (Reuters) – KKR Private Equity Investors LP (KKR.AS) (KPE) on Friday launched a consent solicitation, seeking approval of its unitholders to proceed with the planned combination with private equity firm Kohlberg Kravis Roberts & Co. (KKR). Combining the two firms is a roundabout way for KKR to gain a European listing, and is a […]
DETROIT (Reuters) – General Motors Co, which emerged from bankruptcy earlier in July, on Thursday announced a small senior executive team to lead its attempted turnaround and the final members of its board, which include private equity expert David Bonderman. GM said the directors appointed by the U.S. and Canadian governments had been confirmed on […]
BOSTON (Reuters) – Oracle Corp (ORCL.O), the world’s No. 3 software maker, plans to buy privately held GoldenGate Software, beefing up its portfolio of technology that helps companies manipulate information in databases. The companies did not disclose financial terms of the transaction, which Oracle announced on Thursday. Oracle has spent more than $34 billion buying […]
LaborMed Pharma, a Bucharest-based provider of generic and cardiovascular medicines, has agreed to acquire the brand and portfolio of OTC drugmaker Ozone Laboratorie. No financial terms were disclosed. Advent International bought LaborMed last year.