Russia Setting Up $10B Fund for PE Deals

Russia is forming a $10 billion fund to co-invest with international private equity firms, Reuters reported, citing an article in the Financial Times. The country is making an effort to increase foreign investment in the country, and has reportedly approached firms including Apollo Management, Blackstone Group and the Carlyle Group.

Firms Preparing Bids for CitiFinancial

BlackRock Inc., Spanish bank Banco Santander and more than ten private equity firms are organizing bids for CitiFinancial, a Citigroup consumer-finance business, Reuters said, citing a Bloomberg report. BlackRock, Kohlberg Kravis Roberts & Co. and Warburg Pincus are considering a joint bid for CitiFinancial, Reuters said. Private-equity firms Apollo Management and J.C. Flowers & Co. […]

PE Firms Place Second Round Bids for Beckman

Two private equity consortia placed second-round bids for medical diagnostics company Beckman Coulter Inc., Reuters reported. Blackstone Group and TPG Capital submitted a bid, as did a second consortium made up of Apollo Management and The Carlyle Group, Reuters said. Beckman Coulter has a market valuation of more than $5 billion.

Sara Lee Rejects Buyout Offer

Food company Sara Lee Corp. has rejected a buyout offer from private equity firms Apollo Management, Bain Capital and TPG Capital, Reuters reported, citing a story in the New York Post. The buyout shops reportedly made an offer of $18 per share, which Sara Lee considered too low.

Apollo Management, CVC Capital Gets EU Approval To Buy Brit Insurance – Reuters

Apollo Management of New York and CVC Capital Partners Ltd. of London received European Union regulatory approval to acquire Brit Insurance, Reuters reported. The European Commission said the transaction did not raise any competition concerns because of their very small business overlaps. Brit Insurance accepted a buyout offer from the two private equity shops in October and the deal values the insurer at up to 888 million pounds ($1.4 billion).

Realogy Seeks To Amend Senior Credit Facility

Realogy Corp. seeks to amend its senior secured credit facility. The Parsipanny, N.J.-provider of real estate and relocation services wants to extend the maturity of its first lien term loans by three years from Oct. 10, 2013. It also wants to extend the maturity of its revolving credit facility from April 10, 2013 to April 10, 2016. In addition, the Apollo Management LP-backed company wants to extend the maturity of its synthetic letter of credit facility from Oct. 10, 2013 to Oct. 10, 2016.


Apollo Buys Loan Portfolio from Credit Suisse

Buyout shop Apollo Management plans to buy a portfolio of commercial real estate loans from Credit Suisse, Reuters reported. Apollo will pay $1.2 billion for the soured real estate loans, which have a face value of $2.8 billion. Credit Suisse is providing Apollo with debt financing for the deal, Reuters said.

Apollo In Talks to Buy Regis

New York-based private equity firm Apollo Management is in talks to buy hair salon chain Regis Corp., Reuters reported, citing an article in the New York Post. Minneapolis-based Regis owns or franchises more than 12,700 hair salons around the world.

Harrah’s IPO Pricing Delayed Over Concerns Shares Are Priced Too High

Harrah’s Entertainment Inc.’s planned IPO has been delayed as a result of concerns that the shares have been priced too high, Reuters reported citing sources familiar with the matter. News of the delay was first reported by CNBC. The pricing was initially scheduled on Thursday, buy could be pushed backed to Monday. Harrah’s is seeking to raise about $500 million and plans to sell 31.25 million shares for $15 to $17 a share. The company is backed by Apollo Management and TPG.

Harrah’s Files For $500M IPO

Harrah’s Entertainment, which is owned by private equity firms TPG Capital and Apollo Management, will raise about $500 million in an initial public offering, Reuters reported. The company plans to sell 31.25 million shares, or 9.3% of the company, at $15 to $17 each. The company will also change its name to Caesars Entertainment.

Brit Insurance Accepts Buyout Offer

Brit Insurance has accepted a buyout offer from PE shops Apollo Management and CVC Capital Partners, according to Reuters. The deal values the insurer at up to 888 million pounds ($1.4 billion). For the nine months ending Oct. 25, gross written premiums at Brit Insurance fell 9 percent to 1.22 billion pounds, in part due to compeition in underwriting.

Apollo Management to sell off Affinion Group

Apollo Management is hoping to get $3 billion for marketing firm Affinion Group, according to reports. After it has paid off creditors, Apollo could be left with about $1.3 billion. The news has created interest among other private equity firms, according to the New York Post. Apollo bought Affinion for $1.8 billion in 2005.

Apollo Management considering bid for American Idol

Apollo Management, the U.S. private equity firm, is considering a joint bid with one of the other firms eyeing up CKX Inc, the company that makes the American Idol television show. According to the New York Post, Apollo owner Leon Black is trying to decide whether the best means of buying the firm would be outright or with through debt financing. Last month, Robert Sillerman, CKX’s founder and former CEO, said he was preparing a bid for the company for $5.50 to $5.75, which values the company at just over $500 million.

Apollo Buys 51% Stake in EVERTEC

Apollo Management has bought a 51% stake in EVERTEC, a unit of Popular Inc., through a joint venture. Popular, a bank holding company in Puerto Rico, will receive about $570 million while the JV is valued at $868 million. As part of the deal, EVERTEC gets Popular’s merchant acquiring and processing and technology business.

Apollo to merge chemical companies Hexion, Momentive

(Reuters) – Private equity firm Apollo Management [APOLO.UL] has decided to merge its two specialty chemicals companies, Hexion Specialty Chemicals Inc And Momentive Performance Materials Inc, creating a company with more than $7.5 billion in sales.

The companies said in a statement on Monday that they had agreed to the merger and that the new company will operate under the Momentive name.

The combined company is expected to have around $1.24 billion of adjusted EBITDA per year, they said.

Apollo Loses Out on Pactiv

NEW YORK (Reuters) – Reynolds Group Holdings Ltd plans to buy Hefty bag maker Pactiv Corp (PTV.N) for about $6 billion, further consolidating the competitive food packaging industry and uniting two iconic brands under one banner. The privately held aluminum foil maker, controlled by New Zealand billionaire and former tow-truck driver Graeme Hart, will pay […]

PE HUB Community

Join the 12525 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget