Reader’s Digest To Sell Gareth Stevens

By PEHub Administrator — 7 years ago

Reader’s Digest Association Inc., a portfolio company of Ripplewood Holdings, has agreed to sell the assets of K-12 educational publisher Gareth Stevens Inc. to Roger Rosen (CEO of Rosen Publishing) and Gary Spears (co-founder of Gareth Stevens). No financial terms were disclosed.

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Anthony Vernon Leaving Ripplewood Kraft Foods

By PEHub Administrator — 7 years ago

SAN FRANCISCO (Reuters) – Kraft Foods Inc (KFT.N) said on Monday that W. Anthony Vernon will become president of Kraft Foods North America in mid-August, taking over for Rick Searer, who is retiring. Kraft said Vernon, 53, worked most recently as a healthcare industry partner at private equity firm Ripplewood Holdings. Previously, he worked at […]

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Reader’s Digest Examines Restructuring Options

By PEHub Administrator — 7 years ago

NEW YORK (Reuters) – Privately held Reader’s Digest Association Inc hired Kirkland & Ellis as legal advisors to evaluate restructuring options, including a potential bankruptcy, according an online story from Bloomberg. The Tuesday story, which cited an unnamed person familiar with the situation, said that Kirkland & Ellis was asked to examine options such as […]

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PE Firm Mergers Are a Bad Idea. Here’s Why:

By Erin Griffith — 7 years ago

Could the acquirers become the acquirees? I’ve heard rumblings of private equity consolidation for a few weeks now, stemming from research done by law firm Simmons & Simmons. The study found that 79% of 700 surveyed PE pros expect increased consolidation in 2009.

I dismissed this as unlikely, but the topic continues to surface in conversations. There even are some trader rumors that Blackstone and KKR could acquire 3i. Would struggling buyout firms really merge with each other? At the very least, the image of PE pros nervously biting their nails in fear of a hostile takeover is ironic, since they’re usually the ones inflicting such fear on public company employees.

Either way, there are several issues with this idea, which I’ve laid out in a nice little list.

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Reader’s Digest Cuts 8% of Workforce

By PEHub Administrator — 7 years ago

NEW YORK (Reuters) – The Reader’s Digest Association Inc is cutting about 8 percent of its staff as it tries to strengthen itself against the world financial crisis. Reader’s Digest, which publishes 50 editions of its namesake magazine around the world as well as other magazines, books and videos, also will force some employees to […]

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Banks End Talks To Sell Daewoo Electronics to Ripplewood

By PEHub Administrator — 7 years ago

SEOUL (Reuters) – Creditors of Daewoo Electronics have ended talks to sell the South Korean appliance and TV maker to U.S. private equity firm Ripplewood Holdings and would look at ways to restructure Daewoo, a bank official said on Wednesday. The collapse of the talks marks the third failed attempt to sell loss-making Daewoo. Tighter […]

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Ripplewood Named Preferred Bidder for Daewoo Electronics

By PEHub Administrator — 7 years ago

SEOUL (Reuters) – U.S. private equity firm Ripplewood Holdings was picked on Wednesday as the favored bidder to buy South Korea’s Daewoo Electronics, after two failed attempts to sell the loss-making appliance and TV maker. Ripplewood beat a consortium of Digilant Systems and Russian investors in the race for Daewoo, formerly part of the failed […]

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