J.F. Lehman & Co. is in talks to buy marine services business Drew Marine from Ashland Inc. (NYSE: ASH), according to LBO Wire. The deal would include more than $70 million in debt financing, including $20 million in mezzanine notes arranged by Babson Capital. The more senior debt is being arranged by CIT and BNP […]
21 Partners has made a voluntary public tender offer for RGI SpA, a listed Italian provider of software, consulting and outsourcing services. The offer is being made in partnership with company founder Paolo Benini.
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co. is considering separating a plan that links buying its Amsterdam-listed fund with its own moves to list on the NYSE, a source familiar with the matter said, throwing further doubt on whether the private equity giant will list in New York. KKR’s plans to follow in […]
(Reuters) – The Minneapolis Star Tribune said it had filed a plan to emerge from Chapter 11 bankruptcy by autumn, in a report on its website. The paper said it has the approval of creditors who hold about $384 million in secured debt and $96 million in unsecured obligations. Under the proposed plan, the paper […]
LONDON (Reuters) – The fate of Europe’s biggest car-cleaning company, IMO Car Wash, may be decided in the courts, two sources with knowledge of the situation said, as lenders battle over terms of a debt-for-equity deal. Junior lenders, owed up to 90 million pounds ($147.2 million), are fighting a proposed restructuring deal that sees their […]
HONG KONG/TAIPEI (Reuters) – Several U.S. private equity firms and Taiwanese financial groups are showing early interest in the sale of AIG’s Taiwan life insurance unit, banking sources said on Friday, in a deal the seller hopes could raise around $2 billion. U.S. private equity firm JC Flowers & Co. and Taiwan’s Fubon Financial (2881.TW) […]
LONDON (Reuters) – Troubled Candover agreed to sell energy research firm Wood Mackenzie to rival Charterhouse for an enterprise value of 553 million pounds ($905 million), in this year’s biggest European purchase by a private equity firm. Although the sale price is below the 650 million pounds originally mooted by newspapers, the deal announced on […]
OSLO (Reuters) – Norwegian conglomerate Orkla (ORK.OL) is set to acquire U.S aluminium extrusion company Indalex, strengthening its position in north American markets. Orkla said on Wednesday it would buy 10 active aluminium plants in Canada and the United States with a total capacity of about 315,000 tonnes per year through its aluminium unit Sapa. […]
NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) has hired William Rifkin, former chairman of global mergers and acquisitions at Merrill Lynch, as vice chairman of M&A, the bank said on Thursday. Rifkin will start work at JPMorgan in September reporting to Jimmy Elliott, global head of mergers and acquisitions, the bank said in […]
NTK Holdings Inc. (Nortek), a Providence, R.I.-based maker of ventilation, air conditioning and heating products, said that it is analyzing its capital structure "in light of current economic conditions." It has retained both Blackstone Group and Weil, Gotshal & Manges as advisors. THL Partners acquired NTK from Kelso & Co. in 2004, and held a 66.48% equity stake as of late 2007, when NTK canceled a proposed $690 million IPO.