DETROIT/NEW YORK (Reuters) – A group of hedge funds that provided bankruptcy funding to Delphi Corp on Monday won a high-stakes auction to take control of the auto parts supplier, scuttling a rival deal brokered by the Obama administration. Delphi’s board of directors and GM both offered their support for the proposed deal that would […]
SEOUL (Reuters) – South Korea’s financial watchdog on Tuesday finalised plans to split state-owned Korea Development Bank (KDB) into a holding company and a policy body, an effort aimed at spurring the country’s flagging banking sector. The Financial Services Commission (FSC) said KDB, which is expected to have 172 trillion won ($138.3 billion) in total […]
NEW YORK (Reuters) – Bayview Mortgage Capital Inc, a newly formed company with links to Blackstone Group, on Monday filed to raise up to $500 million in an initial public offering, aiming to use the money to buy distressed real estate loans from banks and other lenders and investors. The company — whose parent is […]
Avago Technologies Ltd. of Singapore has set its IPO terms to 36 million common shares being offered at between $13 and $15 per share. It plans to trade on the Nasdaq under ticker symbol AVGO, with Deutsche Bank Securities, Barclays Capital, Morgan Stanley and Citi serving as co-lead underwriters. Avago is the former semiconductor unit […]
Rowmark LLC, a portfolio company of Clearview Capital, has acquired the engravable products division of Delmar Products Inc. No financial terms were disclosed. PRESS RELEASE Rowmark, LLC, a portfolio company of Clearview Capital Fund II, LP of Old Greenwich, CT, has acquired the engravable products division of Delmar Products, Inc., effective at the close of […]
MUMBAI (Reuters) – U.S. funds T Rowe Price (TROW.O) and TPG are among anchor investors for Indian utility Adani Power’s initial public offer to raise as much as $623 million, two sources with knowledge of the deal said on Monday. Adani, which opens its 301.65 million share offer on Tuesday at a price range of […]
(Reuters) – Canadian call center operator TigerTel Communications Inc (TTL.V) said it signed a letter of intent to be taken private by 7212747 Canada Inc (SwiftCo), controlled by TigerTel’s chief executive and former chairman. If the deal is materialized, TigerTel shareholders will get 25 Canadian cents per share, a premium of about 30 percent based […]
LONDON (Reuters) – Private equity firm BC Partner wrote up its current fund by almost a quarter in the first half, returning it to par value, a person familiar with the matter said on Monday. The markup is one of the first signs that European buyout houses, who took steep writedowns last year, are enjoying […]
BUDAPEST (Reuters) – Hungarian state-owned development bank MFB will provide a 100 million-euro loan to the chemicals firm BorsodChem which was acquired by British private equity fund Permira in 2006, the Financial Times said on Monday. MFB did not respond to written questions and BorsodChem could not be reached for comment. The loan will be […]
MILAN (Reuters) – Debt-laden Italian eyewear maker Safilo (SFLG.MI), which has been seeking to strengthen its balance sheet, postponed release of its first-half results on Monday after talks with private equity groups fell through. The maker of Gucci and Dior eyewear, which has net debt of more than 600 million euros ($856 million) and has […]