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’Bigger is not necessarily better in private equity
Size really does matter — but not how you think it might, according to one view of the private equity world.
As FTfm reports on Monday, new research from the Edhec-Risk Institute, an arm of France’s Edhec Business School,
Bain to buy Citi stake in Bellsystem24
Citigroup on Sunday said it had agreed to sell its 93.5% stake in Bellsystem24, a Japanese telemarketing company specialising in call centre operations, to Bain Capital for Y93.5bn ($1bn). Once complete,
Gome soars on Bain investment
The share price of Gome Electrical Appliances nearly doubled on Tuesday as it resumed trading after US buyout group Bain Capital confirmed its investment in the Chinese retailer. The stock jumped 95% to HK$2.18 after a seven-month suspension.
Bain in $630m boost for Gome
US buyout group Bain Capital is understood to have agreed to make a strategic investment of up to $630m in Gome Electrical Appliances, a leading Chinese retailer. The proposed deal marks Bain’s biggest mainland investment and will boost confidence in HK-listed Gome,
Bain leads race for Gome stake
Gome Electrical Appliances, China’s second-largest electronics retailer, may sell as much as 20% of itself to Bain Capital for about $500m, reports Bloomberg. Bain is competing for Beijing-based Gome with KKR and Warburg Pincus,
Reed Elsevier drops trade magazine sale
Reed Elsevier withdrew its proposed sale of its Reed Business Information trade magazine arm amid deteriorating trading conditions and the subsidiary’s sharply reduced valuation. The RBI sale, one of the few live auctions in the media sector,
Bidders rethink Asia M&A deals
The global financial crisis has thrown the fate of two multi-billion dollar Asian M&A deals in doubt, amid signs that the vendors may have to accept lower valuations to keep the sales on track. Huawei,
Buyout groups to acquire Neuberger Berman
Bain Capital and Hellman & Friedman on Monday agreed to acquire Neuberger Berman, the crown jewel of Lehman Brothers Holdings, for $2.15bn. The deal comes weeks after a sale could have helped Lehman avoid collapse.
Lehman sale of Neuberger hits snags
Lehman Brothers’ plan to sell its investment-management division has been held up by wrangling over how to run the business and pay fund managers, reports Bloomberg. The bankrupt securities firm had aimed to announce the sale to Bain Capital and Hellman & Friedman by last week,
US buyout groups bid for Lehman business
Bain Capital and Hellman & Friedman, the US private equity groups, have teamed up to bid for the rump of Lehman Brothers’ investment management arm, which includes the Neuberger Berman asset management business,
Bain, Silver Lake, in lead for Huawei unit
Groups led by Bain Capital and Silver Lake Partners are the leading bidders for a stake in the handset unit of China’s Huawei Technologies after General Atlantic, reports Bloomberg. AEA Investors, which had teamed up with General Atlantic,
Lehman narrows field to three suitors
Lehman Brothers has told three private equity firms – KKR, Hellman & Friedman and Bain Capital – that they remain in the bidding for its asset management arm even though the investment bank has yet to make a final decision on whether to sell the unit,
Clear Channel shareholders OK buyout
Shareholders in Clear Channel Communications on Thursday approved a $17.9bn takeover by private equity funds Thomas H. Lee Partners and Bain Capital, ending a 20-month effort to take the radio and billboard operator private,
NBC, Blackstone and Bain buy Weather Channel
A consortium of Bain Capital, Blackstone and NBC Universal is buying Weather Channel for about $3.2bn in what may prove to be the largest US leveraged buy-out this year. The group beat Time Warner in a closely contested auction after privately held Landmark Communications put Weather Channel and a variety of other media properties on the block.
Private equity circles Huawei’s mobile unit
Bain Capital and KKR are among the global private equity firms through to the next round of bidding for a significant stake in the mobile devices division of Huawei, the Chinese telecoms equipment maker.
Bain in deal to buy Japan’s D&M
Bain Capital, the US buy-out fund, is set to make a rare acquisition in Japan with the agreed purchase of the maker of Denon audio equipment in a deal worth up to Y48bn ($447m). Bain said Friday it would launch a tender offer this week for shares in D&M Holdings,
Buyout firms eye Huawei mobile unit
Global private equity firms are this week finalising their first round bids to acquire a major stake in the mobile devices division of Huawei, the Chinese telecoms equipment maker. Huawei hopes to divest a sizeable stake in the unit to a buyout firm that could help to develop its US sales.
KKR wins bid for Singapore’s Unisteel
Singapore disc drive component maker Unisteel on Saturday said it has agreed to be bought by buyout firm KKR for $575m, reports Reuters. Unisteel said KKR has offered to pay S$1.95, or S$785m for the company,
Weather Channel bid could signal trend
The group that has emerged as the frontrunner in the bidding for cable television’s Weather Channel has assembled a financing package that shows how dramatically the buy-out world has changed since the onset of the global credit crisis.
Banks on defensive over Clear Channel
US banks will be less willing to finance leveraged buy-outs in light of the revised deal struck by Bain Capital and Thomas H Lee to buy Clear Channel Communications, bankers and private equity executives said Wednesday.
Cut-price deal looms for Clear Channel
Clear Channel Communications, the radio station and outdoor advertising company, confirmed on Monday it was in talks with the banks financing its LBO as speculation grew that an agreement on a lower-priced takeover by buy-out groups Thomas H Lee and Bain was in sight.
US buy-out groups in TheFaceShop race
Carlyle Group, Bain Capital and Advantage Partners were picked to submit final bids for South Korean cosmetics maker TheFaceShop, reports Bloomberg, citing people familiar with the matter. CCMP Capital Asia also made the shortlist to bid for the Seoul-based company being sold by Affinity Equity Partners and SK Chemicals may join the bidding.
Goldman discounts to offload debt
Goldman Sachs has been forced to give investors the largest discount yet offered by an investment bank in the credit crunch in an attempt to offload loans linked to a highly leveraged buyout, reports The Times.
Buy-out groups ‘face off’ in Korea
Bain Capital, Permira and a fund backed by Citigroup are among preliminary bidders for TheFaceShop, a South Korean cosmetics maker being sold by buyout firm Affinity Equity Partners, reports Bloomberg.
Clear Channel case gets murkier
Banks sued by Clear Channel and its private equity partners, Bain Capital and Thomas H. Lee, over the collapse of a $19bn buy-out are pushing to move the case out of the Texas courts for fear of a hostile reception in the media company’s home state.
Morgan Stanley delays CICC stake sale
Morgan Stanley has postponed the sale of its 34.3% stake in mainland brokerage China International Capital Corp, telling private equity bidders including Bain Capital and TPG that their offers are too low.
Talks stall in Clear Channel buy-out
Clear Channel’s proposed $19bn buy-out was on increasingly shaky ground Tuesday as private equity firms and banks remained at loggerheads over terms of the deal’s financing. Neither side had been in contact for the past few days,
Morgan Stanley shortlists CICC bids
Morgan Stanley has short-listed three bidders in the sale of its 34.3% stake in a top Chinese investment bank, China International Capital Corp, but is balking at their latest offers, reports the WSJ. The bidders,