Jean-Hugues Verdu has joined French buyout firm Activa Capital as chief operating officer. He previously was a Paris-based director with Alvarez & Marsal.
3i, the London-listed global private equity firm, has sold its 48% stake in Diab, a Swedish core materials manufacturer, to local investor Ratos. Ratos already held a 48% interest in Diab prior to the transaction, which will generate proceeds of Skr400m (US$48m) for 3i. Management hold the balance of Diab. Laholm, Sweden-based Diab manufactures materials […]
FRANKFURT (Reuters) – Car roofing specialist Edscha filed for insolvency for its European sites on Monday, making it the first major German auto parts supplier owned by private-equity to have to reorganise under an administrator due to the global industry crisis. “The most important goal is that the operative business continues and we expect to […]
BOSTON (Reuters) – A battle looks set to break out for control of Amylin Pharmaceuticals Inc (AMLN.O), maker of diabetes drug Byetta, as two big investors move to shake up the board. Icahn Capital LP, controlled by billionaire investor Carl Icahn, and Eastbourne Capital Management LLC, have each announced they intend to nominate five members […]
NEW YORK (Reuters) – Ryland Group (RYL.N), the No. 9 U.S. homebuilder, said on Monday that it was forming an acquisition and development company with a partner, adding its name to a lengthening list of builders looking to exploit distress in their industry. The venture with Oaktree Capital, which has more than $55 billion in […]
The Carlyle Group is raising up to $75 million for its fourth Latin American real estate fund, according to a regulatory filing. It already has secured around $10 million. www.carlyle.com
Tudor Capital, the private equity affiliate of energy-focused bank Tudor, Pickering, Holt & Co., is raising up to $250 million for a new fund, according to a regulatory filing. It already has secured over $50 million in capital commitments. www.tudorpickering.com
Philip Ruppel has joined Navigtation Capital Partners as an analyst. He previously was part of the financial institutions group of Bear Stearns & Co.
gnaChip Semiconductor LLC, a South Korean maker of analog and mixed-signal semiconductor products for high-volume consumer applications, has withdrawn registration for a $575 million IPO, citing “unfavorable market conditions.” It had planned to trade on the NYSE, with Goldman Sachs, UBS and Credit Suisse serving as co-lead underwriters. The company was formed in 2004, via the $828.2 million carve-out of Hynix Semiconductor's non-memory semiconductor operations, by Citigroup Venture Capital, CVC Asia Pacific Ltd. and Francisco Partners. www.magnachip.com
First Reserve Corp. has agreed to sell a 10.75% equity interest and pro-rata funding obligation in Longview Intermediate Holdings to Siemens Financial Services. No financial terms were disclosed for the deal, which is expected to close within 60 days. Longview is part of GenPower Holdings, a power generation platform formed in October 2006 by First Reserve and GenPower LLC.