LONDON (Reuters) – Private equity firm PAI Partners stands to lose its 256 million euro ($361.2 million) investment in French firm Monier Group as activist lenders gather support for a rival 1 billion euro bid designed to improve the outcome of its debt restructuring. The battle for roofing company Monier, which employs over 10,000 people, […]
NEW YORK (Reuters) – Fashion accessory and jewelry retailer Claire’s Stores Inc posted a narrower first-quarter loss on a 10 percent revenue decline on Thursday, and warned that sales are getting worse in the second quarter. Claire’s, which sells cheap jewelry for young girls and women in the United States and Europe and is owned […]
HONGKONG (Reuters) – China’s Shenzhen Development Bank (000001.SZ) plans to raise at least 8 billion yuan ($1.17 billion) selling a stake to Ping An Insurance (Group) (2318.HK) via a private placement of shares, a person with direct knowledge of the deal said on Friday. Ping An plans to buy the shares for at least 16.4 […]
(Reuters) – Private equity firm CVC Partners is unlikely to mount a counter-offer to Blackrock’s (BLK.N) $13.5 billion acquisition of Barclays (BARC.L) unit BGI, a source familiar with the situation said. “Although they could come back, it seems unlikely that they would at this kind of valuation and the way the deal is structured,” said […]
LONDON (Reuters) – British private equity firm 3i (III.L) on Friday announced a near-total shareholder take-up of its heavily-discounted 732 million pounds ($1.2 billion) rights issue aimed at strengthening its balance sheet. The company said 96.6 percent of shareholders subscribed to the capital raising, part of chief executive Michael Queen’s plans to halve 3i’s debt […]
HONG KONG (Reuters) – Private equity firms are expected to bid for Goodbaby Group after its top shareholder hired Morgan Stanley (MS.N) to sell its stake in China’s largest baby stroller maker, sources said on Friday. A deal for Goodbaby, which makes pushchairs and other goods for babies for brands including Quinny, Nike Kids and […]
MILAN (Reuters) – Italian fashion house Prada said on Friday it had turned down an approach by investors interested in buying a minority stake. “There are no discussions to sell a stake in the company even though I cannot deny that there are investors interested in (Prada),” a spokesman said. Last Saturday, Italian business daily […]
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co’s deal to sell IPO stocks through Fidelity Investments suggests it might be gearing up to take public some of the companies in its portfolio, despite a market that remains inhospitable to deals backed by private equity. Under terms of a deal announced Monday, Fidelity alone among […]
BOSTON (Reuters) – BlackRock Inc., the giant U.S. money manager, said on Thursday that it will buy Barclays Global Investors in a cash and share deal that will turn it into the world’s biggest asset manager. The sale, which also includes the iShares business, will more than double BlackRock’s assets to roughly $2.7 trillion and […]
Tim West has been named director of marketing and investor relations for WCAS Fraser Sullivan Investment Management, a debt investment partnership formed in 2007 between Welsh, Carson Anderson & Stowe and Fraser Sullivan Investment Management. He previously was a senior managing director with MacKay Shields.