AWAS to sell aircraft portfolio to Macquarie Group for $4 bln

AWAS, which is backed by Terra Firma and Canada Pension Plan Investment Board (CPPIB), has agreed to sell a portfolio of 90 aircraft to Macquarie Group Limited. The purchase price is $4 billion. The portfolio being sold comprises a fleet of 90 young, predominantly narrow-body aircraft. Dublin-based AWAS, one of the biggest aircraft lessors, is 75 percent owned by Terra Firma and 25 percent by CPPIB. Goldman Sachs and Deutsche Bank acted as financial advisors to AWAS.


Terra Firma seeks exit from Tank & Rast: Reuters

British buyout group Terra Firma is launching the sale of German motorway service station group Tank & Rast in a potential 2 billion euro ($2.4 billion) deal, two people familiar with the matter told Reuters.


EverPower acquires 240MW Big Sky Wind Farm

EverPower Wind Holdings is to acquire the 240MW Big Sky Wind Farm located in Bureau & Lee Counties, Illinois, about 95 miles west of Chicago, from Suzlon Energy. EverPower is a portfolio company of Terra Firma.

new dawn

peHUB First Read

Catch up on the latest headline news after the weekend including more women becoming founding partners, an analysis of PE benchmarks against public markets, T Boone Pickens closing its second energy fund and what impact regulatory changes are having on the industry.

sunrise medium

peHUB First Read

This morning there is fundraising news aplenty from Permira, PTV and Terra Firma, CalPERS is recruiting for investment officers and TPG is contemplating going public.

Deutsche Annington may pay 0.70 eur/shr dividend – Reuters

German real estate company Deutsche Annington‘s first dividend to shareholders following its 2013 listing could come to about 0.70 euros per share, writes Reuters. The group, which listed in Frankfurt in July but is still majority-owned by British financier Guy Hands’ private equity group Terra Firma, has said it plans to pay out 70 percent of its profits as a dividend.

Terra Firma appoints Wilhelm as financial MD

Terra Firma has appointed Ingmar Wilhelm as financial managing director. Wilhelm will join Terra Firma’s dedicated renewable energy investment team at the beginning of January. This announcement follows the appointment of Stefan Thiele as operational managing director earlier this year.

Terra Firma’s Infinis seeks value of up to $1.5 bln in London float – Reuters

Private equity-backed renewable energy generator Infinis Energy expects to be valued at as much as 930 million pounds ($1.48 billion) when it makes its London stock market debut this month, writes Reuters. The company, which operates 147 power generating plants across the UK, said the offering would be made up solely of existing shares being sold by majority owner Terra Firma.

Terra Firma’s Infinis Energy to float in London – Reuters

Private-equity backed renewable energy generator Infinis Energy plans to list at least 30 percent of its shares in London next month, writes Reuters. The company, which operates 147 power generating plants across the UK, said majority shareholder Terra Firma would reduce its stake as part of the sale.

Reuters – Deutsche Annington Revives IPO

Deutsche Annington, a German residential real estate company, is making a fresh attempt at a stock market listing, writes Reuters. The firm, majority-owned by private equity company Terra Firma, said the initial public offering would seek to raise 575-592 million euros ($740-762 million) versus an initial goal of up to 1.2 billion euros, writes Reuters.

Reuters – Terra Firma to Return Several Billion to Investors

Private equity firm Terra Firma will return 3 billion euros ($4 billion) to investors through disposals within the next 12 to 18 months, the Financial Times reported on its website on Sunday, writes Reuters. Terra Firma, founded by Guy Hands, will also persevere with a 3 billion euro fund to buy green infrastructure assets, less than the 5 billion originally planned, after China Development Bank failed to commit to the fund, the FT said.

peHUB First Read

Find out what’s been happening over the weekend with the latest news links covering a private equity charity merger, the latest in Asian private equity deals and Terra Firma’s plan to return billions to investors over the next 18 months.

Reuters – Terra Firma to Revive Odeon Sale

The private equity group Terra Firma plans to sell assets this year that are likely to include the European cinema chain Odeon & UCI Group to raise more than 1 billion pounds ($1.6 billion), according to the Financial Times, writes Reuters. The group, led by dealmaker Guy Hands, plans first to sell the energy firms Phoenix Natural Gas and Infinis before selling Odeon later in the year, writes Reuters.

Slideshow: The Year’s Top Private Equity Deals

Last week, we discovered which private equity firm was the biggest dealmaker. Now it’s time for the largest PE deals of the year. Global PE-backed M&A totaled $267 billion so far in 2012, a 12% drop from 2011, according to preliminary data from Thomson Reuters. Private equity-backed mergers targeting the U.S. reached roughly $137 billion year-to-date, a 7% decline from 2011.

Reuters/IFR – Terra Firma Leads PIKs Down New ABS Path

Terra Firma‘s planned ABS-style Payment-In-Kind bond may be easier to sell to investors than some market experts anticipate due to stricter rules on cash payouts to equity investors, writes Reuters/IFR. Guy Hands’ Terra Firma buyout group this week agreed to buy Annington Homes from Nomura in a deal worth 3.2 billion pounds ($5.1 billion), which will be financed by 1 billion pounds of new equity, debt financing in the form of the PIK, and the assumption of existing securitised debt of 2.2 billion pounds.

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