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Lone Star Funds to buy Home Properties in $7.6 bln take-private deal

Lone Star Funds has agreed to acquire Home Properties Inc in a take-private deal valued at about $7.6 billion. The transaction is expected to be completed during the fourth quarter of this year. BofA Merrill Lynch served as financial advisor to Home Properties while Goldman Sachs.did likewise for Lone Star. Home Properties Inc owns, operates, acquires and repositions apartment communities in major metropolitan suburbs.

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Lone Star Funds to buy Balta Group

Lone Star Funds has agreed to buy European carpets and rugs maker Balta Group. The sellers included Doughty Hanson. No financial terms were disclosed.

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Lone Star Funds to buy hotel chain Jurys Inn

Lone Star Funds has agreed to acquire hotel brand Jurys Inn for a total consideration of 680 million pounds. The sellers are Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank (part of the Royal Bank of Scotland), Westmont Hospitality Group and Avestus Capital Partners. The transaction is expected to close in the first quarter of this year. Credit Suisse and Eastdil Secured advised both Lone Star and the sellers.

Lone Star Funds closes buy of DFC Global and takes it private

Lone Star Funds has completed its acquisition of DFC Global Corp. According to terms of the transaction, DFC Global stockholders are receiving $9.50 in cash for each share of DFC stock they own. Also, the company’s stock will no longer trade on the NASDAQ and be delisted. DFC Global Corp. is a provider of alternative financial services.

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Lone Star Funds agrees to buy DFC Global Corp for about $1.3 bln

DFC Global Corp said Wednesday that it has agreed to be acquired by Lone Star Funds for approximately $1.3 billion. According to terms of the agreement, DFC Global shareholders will receive $9.50 in cash for each share of DFC common stock they own. The deal is expected to be completed in the third quarter of 2014. Houlihan Lokey Capital advised DFC Global on the transaction while Jefferies was the lead financial advisor to Lone Star Funds. Jefferies Finance and Credit Suisse are providing debt financing for the acquisition. DFC Global Corp. is a provider of alternative financial services.

Wereldhave Completes Derisk Phase

Wereldhave and Lone Star Funds have completed the sale and purchase of Wereldhave’s portfolio in the US for $720 million gross. The proceeds from the property disposals were used to reduce group debt.

U.S. PE Deal Value Jumped 78% in January

A surge of deal announcements in early January helped push up monthly transaction totals. The value U.S. private equity transactions rocketed by 78% to $8.2 billion in January, Thomson Reuters data says.

Caliber Funding and Vericrest Combine Operations

Caliber Funding and Vericrest Financial have joined forces to create a full-service, residential mortgage banking organization offering loan originations and loan servicing solutions. The combined organization will continue to be owned by Lone Star Funds.

Lone Star Warns South Korea of Legal Action

The Dallas-based private equity firm Lone Star Funds warned the South Korean government yesterday that it is initiating arbitration proceedings over the sovereign state’s involvement in Lone Star’s sale of Korea Exchange Bank to Hana Financial Group earlier this year for roughly $3.5 billion. PRESS RELEASE: Lone Star Funds (“Lone Star”) confirmed today that it […]

Report: Lone Star Scraps KEB Stake Sale

(Reuters) – U.S. private equity firm Lone Star [LS.UL] has decided to scrap its plan to sell a majority stake in Korea Exchange Bank (004940.KS) worth $4 billion at the current market price due to weak demand from potential investors, a local paper said. “Lone Star told financial investors in the United States, Hong Kong […]

Lone Star Puts Bi-Lo On The Block

(Reuters) BI-Lo LLC, a U.S. supermarket chain owned by Lone Star Funds, is up for sale and has drawn interest from strategic and financial buyers, making it the latest private equity portfolio company to go on the block, a source familiar with the matter said on Monday. U.S. supermarket chains Kroger Co and Publix Super […]

ANZ Hires Banks for KEB Bid

HONG KONG/SYDNEY (Reuters) – Australia and New Zealand Banking Group Ltd (ANZ.AX) has hired Goldman Sachs JBWere and JP Morgan (JPM.N) to advise on its bid for a majority stake in Korea Exchange Bank (004940.KS), sources said on Wednesday, in what is expected to be a more than $4 billion deal. Sources told Reuters last […]

Lone Star’s Bi-Lo Expects To Exit Bankruptcy Next Month

LOS ANGELES (Reuters) – Supermarket chain BI-Lo LLC said on Thursday it expects to exit bankruptcy in May, backed by its private equity owner Lone Star Funds, after it received court confirmation for a reorganization plan. BI-Lo, which has 207 supermarkets and over 15,000 staff, filed for bankruptcy 13 months ago, just days before two […]

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