Private equity firm 3i has seen its share price continue on its downward trend. They have fallen from 356p on December 9 to 333p yesterday. In this morning’s trading they dropped to 315p, or by 5% from the day before, suggesting that investor fears about private equity are growing. A year ago, shares in the […]
Providence Equity Partners and Ayala Corp. have completed their $9 per share tender offer for eTelecare Global Solutions Inc., a provider of business process outsourcing solutions. The total purchase price was approximately $290 million.
Natural Gas Partners has promoted both David Hayes and Colin Raymond from principal to managing director. Hayes joined the firm in 1998, while Raymond joined in 2005.
Francesco di Valmarana has joined the European secondaries team of Pantheon as a principal. He previously was with Unigestion. PRESS RELEASE Pantheon, a leading global private equity funds-of-funds investor, has recruited Francesco di Valmarana to its London-based European Secondaries team in response to increasing dealflow in the secondaries market. Francesco, who has joined as a […]
LONDON (Reuters) – European private equity firm IK Partners said on Friday it has sold Dutch internet retailer Wehkamp to a group of private investors, defying a tough climate for private equity exits. A source familiar with the situation said the deal is worth about 500 million euros ($663.4 million) to IK, which acquired the […]
WASHINGTON (Reuters) – A proposed bailout of U.S. automakers failed in the Senate on Thursday night, raising the specter of an industry collapse that sent Asian markets reeling and sparked fears it could deepen the recession. “It’s over with,” Senate Majority Leader Harry Reid said of congressional efforts this year just before the Democratic proposal […]
WASHINGTON (Reuters) – Prospects for an auto industry bailout revived in the U.S. Senate on Thursday as surprise negotiations on a compromise moved forward and a vote was possible later in the day. Senate Majority Leader Harry Reid said on the Senate floor that the deal, if struck, “would overwhelmingly pass” the chamber that just […]
NEW YORK (Reuters) – Bernard Madoff, a long-time fixture and powerful adviser on Wall Street, was arrested and charged on Thursday with allegedly running a $50 billion Ponzi scheme, U.S. authorities said. The former chairman of the Nasdaq Stock Market who remains a member of Nasdaq OMX Group Inc’s nominating committee, is best known as […]
NEW YORK (Reuters) – Bank of America Corp said on Thursday it plans to eliminate 30,000 to 35,000 jobs over three years as it integrates Merrill Lynch & Co and experiences weaker business activity amid the economic recession. The cuts could affect about 11 percent of the combined companies’ workforce of about 308,000 people, and […]
WASHINGTON (Reuters) – Senate Democrats on Thursday revived prospects of an auto industry bailout as negotiations on a possible compromise with Republicans moved forward, Majority Leader Harry Reid said. Reid, a Nevada Democrat, said in remarks on the floor that the Senate could vote later in the day on a bill to extend up to […]