AMSTERDAM (Reuters) – Dutch ING (ING.AS) plans to sell operations worth up to 8 billion euros ($10.6 billion) to reduce risk, focus its bank on Europe, and manage its banking and insurance separately, boosting its shares on Thursday. ING (ING.N), which was loss-making in 2008 and received a 10 billion euro injection from the Dutch […]
Fabrinet Inc., a Thailand-based provider of foundry services to optical component, module/subsystem and optics OEMs, has canceled a proposed $250 million IPO, due to "market conditions." The company had planned to trade on the NYSE, with Morgan Stanley and Deutsche Bank Securities serving as co-lead underwriters. Shareholders include H&Q Asia Pacific (60.4% pre-IPO stake), JDS Uniphase Corp. (6.7%) and J.F. Shea Co. (6.7%). www.fabrinet.th.com
Swander Pace Capital has invested an undisclosed amount in Applegate Farms LLC, a brand of organic and antibiotic-free natural deli meats, hot dogs, sausage and bacon. The company was founded in 1987 by its current CEO, Stephen McDonnell. www.applegatefarms.com
LONDON (Reuters) – Barclays Plc has agreed to sell its iShares asset management business to private equity firm CVC Capital Partners for 3 billion pounds ($4.4 billion), but kept the right to hunt for a better deal for two months. The deal, which will be 70 percent financed by Barclays, will land a windfall […]
Foresight Group, a UK-based alternative asset manager, has promoted Russell Healy to partner. He joined the firm in 2007 as a senior portfolio manager.
Eric Mason reportedly has joined Church Pension Fund, the Episcopal Church’s $8 billion pension system, to open a Hong Kong office. He previously was with The Carlyle Group, where he led a now-defunct Asian leveraged finance group. www.cpg.org Update: HONG KONG, April 16 (Reuters Basis Point) – Veteran banker Eric Mason has joined the Church […]
CAIRO (Reuters) – A $100 million fund targeting distressed assets in Egypt would make its first investment by September, its manager said on Monday. The fund, in which Egyptian private equity firm Citadel Capital is investing $10 million, would target small and medium size Egyptian firms in need of restructuring, said Marianne Ghali, chairman of […]
Silicon Valley Bank reported a $36 million markdown of its venture capital and private equity investments for the first quarter of 2009. It also reported $4.8 million in repayment of outstanding loans to HRJ Capital.
BERLIN/FRANKFURT (Reuters) – The German government offered 1.39 euros per share on Thursday for stricken lender Hypo Real Estate (HRXG.DE), a move which sets the stage for the first nationalisation of a German bank in the postwar era. The offer for the Munich-based bank was widely expected after Berlin pushed through a law earlier this […]
HONG KONG (Reuters) – Private equity firm Crescent Point, founded by former Morgan Stanley (MS.N) bankers, is looking to sell its controlling stake in Masterskill, Malaysia’s largest nursing training school, sources said, in a deal that could fetch more than $200 million. The plan came after Masterskill Sdn Bhd shelved its plans for an initial […]