Cerberus agrees to buy loan portfolio from Netherlands-based Van Lanschot

Cerberus Capital Management agreed to buy a portfolio of non-performing commercial real estate loans held by wealth manager Van Lanschot valued at more than 400 million euros. The sale is part of Van Lanschot’s sell-down of its corporate loan portfolio over a four-year period. The deal is expected to close in the third quarter.


Cerberus sells Silverleaf Resorts to Orange Lake Holdings

Cerberus Capital Management has sold Silverleaf Resorts Inc to Orange Lake Holdings. No financial terms were disclosed. Credit Suisse provided financial advice to Silverleaf and Cerberus on the transaction. Silverleaf Resorts is a vacation ownership company.


Hennessy Capital closes Blue Bird buy

Hennessy Capital Acquisition Corp. said Tuesday it closed its buy of School Bus Holdings, which conducts its business under the “Blue Bird” name. The Traxis Group BV, which is majority owned by Cerberus Capital Management, is the seller. The deal is valued at $255 million, a September statement from Schulte Roth & Zabel said. Cerberus will continue to own 58 percent of Blue Bird’s outstanding shares. Blue Bird designs and makes school buses. Schulte Roth & Zabel provided legal advice to Cerberus, Traxis Group and Blue Bird.

Safeway sign

Safeway deal to be backed by $7.6 bln in debt: IFR

The $9.4 billion acquisition of U.S. retailer Safeway by Cerberus Capital Management is expected to be financed by $7.6 billion of debt in what will be the biggest buyout deal since Dell and Heinz last year, sister publication International Financing Review reported.

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