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Apollo, CVC to sell Brit for $1.88 bln

Fairfax Financial Holdings Ltd. Said Monday it has agreed to buy Brit PLc for $1.88 billion. Fairfax is paying 305 pence cash per Brit share, including any final dividend for the year ended Dec. 31, 2014. Apollo Global and CVC Capital Partners own about 73 percent of Brit, a specialty insurer and reinsurer.

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peHUB First Read

First Read starts your morning with news of Apple in talks to launch a streaming TV service, health insurer Anthem gets hacked and Pfizer will buy Hospira for about $17 billion or $90 per share.

Prestige Cruises withdraws IPO plan-Reuters

Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an initial public offering, Reuters reported.

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peHUB First Read

To start your Halloween Friday, ghoulish First Read delivers spooky news about Omega buying Aviv for a frightening $3 billion, Starbucks eerily plans on launching a delivery service and the monstrous FTC fines a dating site for making up user profiles. Happy Halloween!

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21st Century and Apollo Global to form new media company

21st Century Fox and Apollo Global Management have agreed to form a new multi-platform content provider, merging Endemol, Shine Group and CORE Media. According to terms of the deal, 21st Century Fox and Apollo will jointly manage the newly created group, with each owning a 50 percent stake. No financial terms were disclosed for the transaction, which is expected to be completed by the end of this year. AGM Partners is providing financial advice to 21st Century Fox. Also, Sophie Turner Laing, former managing director of content at BSkyB, has been named the group’s CEO.

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peHUB First Read

This morning’s First Read has Tim Geithner’s defense of AIG bailout, GAP CEO steps down after lackluster sales, the World Bank head blasts global response to Ebola crisis and the richest man in the world likes the three day work week.

CalPERS Notches 2.9x Gain On 2001 Carlyle Investment

The $237 billion California Public Employees’ Retirement System has reaped a 2.9x gain from its 4.2 percent stake in The Carlyle Group upon the firm’s initial public offering on Thursday, according to an exclusive analysis by Buyouts, peHUB’s sister magazine, based on a California Public Records Act request.

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