Alejandro Przygoda has joined Greenhill & Co. as a managing director in charge of the firm’s advisory efforts in the insurance sector. He previously ran UBS’ global insurance practice.
LONDON (Reuters) – Candover Investments Plc CDI.L, the listed parent of beleaguered private equity firm Candover, said on Friday had received takeover offers and other proposals and had started talks with several interested parties. Candover, which like many private equity firms has seen the value of its portfolio companies drop because of excessive debts and […]
HONG KONG (Reuters) – Beijing is close to launching an agency to restructure and consolidate Chinese state-owned enterprises that need government help to improve their business and balance sheets, two sources with direct knowledge of the plan said on Wednesday. The State-owned Assets Supervision and Administration Commission (SASAC), China’s powerful watchdog in charge of all […]
HarbourVest Partners has closed its seventh global secondaries fund with $2.9 billion in capital commitments. It will invest in secondary interests of things like venture capital funds, leveraged buyout funds and portfolios of operating companies.
(Reuters) – U.S. chemical maker Ashland Inc (ASH.N) is looking for buyers for its Valvoline motor-oil division, which could fetch as much as $1 billion, the New York Post said citing sources familiar with the matter. The first round of bidding took place within the past several days. Prestone and several private-equity firms each made […]
Olympus Partners has invested $50 million in equity and subordinated debt in the parent company of Phoenix Services LLC, a Unionville, Penn.-based provider of mill services to the steel industry.
PARIS (Reuters) – The big French banks are working on a plan to put bad leveraged buyout debt into a special structure to remove their risk from the balance sheet, the Les Echos newspaper said in its Friday edition. There were no further details on the front-page sent to Reuters. (Reporting by Marcel Michelson and […]
DETROIT (Reuters) – The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter. The Treasury has an agreement in principle with the United Auto Workers union to protect pensions and […]
LONDON (Reuters) – The hedge fund and private equity industries attacked a draft European Commission directive designed to regulate their activities and due to be published next week. Trade associations representing both sectors on Thursday characterised the draft as a rush job heavily influenced by politicians seeking to score short-term electoral points. “A process which […]
NEW YORK (Reuters) – EuroFresh Inc., an Arizona grower of tomatoes and cucumbers, filed for bankruptcy protection on Tuesday, partly blaming changes in immigration law for the action that could cost its unsecured creditors millions of dollars. Its largest unsecured creditors include Apollo Investment Management, which holds $76.5 million in notes; Barclays Capital (BARC.L) with […]