Apax Partners, a global buyout house, has completed the sale of UK supermarket chain Somerfield to The Co-Operative Group for £1.565bn. The other vendors in the Somerfield sale were Barclays Capital, the debt financing arm of the UK bank, and R20, the investment vehicle of Robert Tchenguiz. The transaction was first announced in July of […]
3i, a global private equity firm, has pulled its £100m auction of UK luxury yacht and powerboat manufacturer Fairline. Reports at the weekend said that 3i decided to postpone a sale of Fairline, bought from The Renwick Group for a £40m consideration in June 2005, following just a few expressions of interest from unnamed Middle […]
ABRY Partners has closed its Advanced Securities Fund with $700 million in capital commitments, according to Buyouts magazine. It had originally targeted $800 million for the fund, which will buy debt in struggling media companies. Read more (sub. req)
NEW YORK (Reuters) – Kohlberg Kravis Roberts & Co’s Amsterdam-listed fund KPE said on Monday that KKR was re-evaluating a previously-announced deal to buy out the fund, throwing doubt on KKR’s plans for a U.S. stock listing. KKR’s plans to become a publicly-traded company hinge on the deal to buy the fund, and if that […]
(Reuters) – Private equity firm TowerBrook Capital said on Monday it had reached an agreement to take control of French debt-ridden auto parts distributor Autodistribution Group. The deal, at a time of slumping sales in the European car industry, will see Autodistribution’s debt slashed and new management brought in. A majority of lenders have accepted […]
(Reuters) – U.S. private equity firm TPG is offering to provide bankruptcy financing for Aleris International Inc, a company that it owns, in a strategy that could put it in the position of being paid before some other creditors, the Financial Times said. Aleris, a maker of aluminium products, filed for Chapter 11 bankruptcy protection […]
(Reuters) – Private security firm Xe, previously known as Blackwater Worldwide, said founder Erik Prince has stepped down as chief executive to focus on his efforts on a private equity venture unrelated to the company. Prince had been CEO since 1997, when he founded the security firm as Blackwater Worldwide. The company named Joseph Yorio […]
HONG KONG (Reuters) – Barclays’ head of Asia-Pacific investment banking has left the bank, sources familiar with the matter said on Monday, with no replacement named in his absence. Darcy Lai, who joined Barclays in 2001, was also in charge of debt capital markets. Sources did not cite a reason for his departure. Barclays declined […]
LONDON (Reuters) – The future of Candover’s 2008 fund hangs in the balance after the private equity firm’s main backer said it will stop investing in the fund as a lack of cash severely curtailed its ability to invest. Candover Investments Plc CDI.L said it is looking at a range of strategic options as it […]
NEW YORK (Reuters) – Clarion Capital Partners LLC said on Friday that it led a group of investors in winning the bankruptcy auction to acquire the assets of china maker Lenox Group Inc (LENXQ.OB) The transaction is expected to close in March, at which time Peter Cameron, previously the CEO of Waterford Wedgwood plc and […]