RSS feedpermira
’Permira to buy Japanese agribusiness, while CVC cuts China deal
A unit of private equity firm Permira is buying Tokyo-based Arysta LifeScience for $2.2bn from Olympus Capital Holdings Asia in the largest buy-out in Japan this year. The deal comes at a time when the deal machine in the US and Europe has slowed and transactions in Asia are still rare. Separately,
Permira’s bad Betts
Permira, one Europe’s largest private equity firms, is set to lose tens of millions of pounds on its investment in toothpaste packager Betts, reports the Daily Telegraph. The buyout firm is close to agreeing to sell the business to smaller rival Gresham Private Equity for about £35m.
Market heist? Permira said to be finalising £3.5bn bid for Group 4 Securicor
An alleged breakdown in security at Group 4 Securicor. Word reaches FT Alphaville that Permira is close to announcing a buyout of the world’s largest provider of security services. Educated guessers put the take-out price at a little under £3.5bn,
Tchenguiz has taste for UK’s Little Chef
Property entrepreneur Vincent Tchenguiz has emerged as a potential bidder for the iconic roadside restaurant chain Little Chef, which has been put up for sale for £20m-£25m by its owner R Capital, reports The Daily Telegraph.
Wesfarmers shares fall on A$22bn Coles deal
Australian conglomerate Wesfarmers on Monday clinched a A$22bn (€13.9bn) takeover of retailer Coles in the country’s biggest takeover, despite the withdrawal of buy-out partners Permira and Pacific Equity Partners,
New Look sale in disarray
The troubled sale of New Look was in tatters Monday night after the two remaining bidders for the high street fashion chain withdrew ahead of Tuesday’s auction, leaving the retailer planning a refinancing instead.
Dealogic’s first-half M&A-related figures: the party roars on
Anyone could be forgive for being confused: even as we and other media report on the failure of some recent big buy-out related debt offerings amid growing investor nervousness, the latest figures from Dealogic on all things M&A-related show the buy-out party roared ahead in the first six months of this year,
KKR and Permira combine TV assets
In what Lex suggests could be a “new model for private equity,” KKR and Permira, the private equity groups, on Wednesday combined their television holdings to create a European broadcaster meant to rival market leader RTL.
Buy-out groups agree to share power in AA/Saga
The three private equity groups orchestrating the £6.2bn merger of Saga, the travel and insurance services provider, and the AA breakdown services company have agreed a power-sharing deal giving them two seats each on a nine-man board – despite earlier tension among the trio.
Off market M&A – Saga and AA get together
Fresh from a kicking in the UK parliament, private equity is going about its business unperturbed.
On Monday, the private-equity owners of the AA and Saga said they would combine the businesses, creating a group valued at £6.15bn.
Private equity’s day of reckoning
The encounter is expected to be nothing short of gladiatorial. Today the great and the good (or bad, depending on your viewpoint) of private equity will come face to face with their British detractors and hostile MPs at the latest round of the Treasury committee hearings on the industry.
Acrimony over Goldman’s role in New Look
The auction for the UK fashion retailer New Look descended into acrimony on Tuesday amid claims and counter-claims over the precise nature of Goldman Sachs’ interest in buying the business. After days of rumours,
Valentino the right fit for Permira
Private equity’s biggest foray into the luxury fashion industry was sealed at the weekend after Permira, the UK-based buy-out firm, launched a bid for Valentino, the Italian maker of evening gowns for celebrities,
New Look bidding deadline postponed
The private-equity owners of New Look, the high street fashion chain, have asked for another round of bids by Friday after several suitors failed to submit offers, or walked away, by a deadline set last week,
Permira eyes LogicaCMG and Caprabo
Permira, the private equity firm, is investigating the possibility of launching a takeover bid for LogicaCMG, after this week’s announcement that Martin Read would step down as chief executive, reports The Times.
Apax quits VC market to bolster funds
Apax Partners has abandoned the venture capital end of the private equity market on which it was founded as it attempts to raise a record amount for a European buy-out fund of as much as €11.17bn ($15bn).
New Look bids to reach £2bn mark
First-round bids for New Look are due on Monday, with more than half a dozen bidders intending to make offers for the retailer that may reach £2bn. CVC is working with Landmark, the Middle Eastern private equity firm that already has a 3 per cent stake in New Look.
Emap chief’s sudden exit fuels speculation
The sudden departure on Thursday of Tom Moloney, chief executive of Emap for the past four years, triggered speculation that the magazine and radio group might be taken over or broken up. People familiar with the company said that non-executive directors were unhappy about the speed at which the company’s strategy had been executed.
Permira takes top stake in Valentino
Permira, Europe’s biggest private equity group, became the largest shareholder in Valentino in the latest sign of ownership upheaval in the Italian fashion sector. The private equity group is paying a branch of the company’s ruling Marzotto family €780m ($1bn) for a 29.6 per cent stake.
Frock finance…Permira grabs Valentino stake
Private equity firm Permira turned on the style on Wednesday, picking up a 29.9% stake in Italian fashion house Valentino from the Marzotto family, according to a statement. The deal implies a value for Valentino of €2.6bn.
Buyout groups in talks for Valentino stake
Talks between Italy’s Marzotto family and at least two private-equity firms over the potential sale of the family’s stake in Valentino Fashion Group highlight the growing pressure on midsize luxury-goods companies to seek financial partners to compete with industry titans,
Britvic buys C&C soft drinks, Permira circles
British soft drinks firm Britvic has beefed up its offering with the €249m purchase of C&C Group’s soft drinks business.
In a statement, Britvic said that the transaction is expected to be earnings enhancing before integration costs in the first full year,
Permira to set up in Shanghai or HK
Permira is the latest private equity firm to consider setting up in China, with plans to set up an office in Shanghai or Hong Kong to prepare for direct investment in China, according to Shanghai Securities News [via Private Equity Wire].
Paolo Colonna,
Coles shares jump on Australia’s biggest takeover offer
Shares of Coles jumped more than 5 per cent on Wednesday morning after a consortium led by Wesfarmers, the Perth-based conglomerate, and including Macquarie Bank, Pacific Equity Partners and Permira, unveiled a A$19.7bn ($16bn) indicative offer for the embattled retailer.
Major Coles shareholder sells stake to buyout consortium
Australian retail magnate and Coles shareholder Solomon Lew has sold his holding in the Australian retailer to a group of buyout firms that includes Pacific Equity Partners, Permira, Macquarie and Wesfarmers,
Iberia retains Goldman as advisor
Spanish flag carrier Iberia has retained Goldman Sachs for a possible sale, according to a report from Spanish newspaper Expansion. Citing market sources close to the situation, the paper says that Credit Suisse has also been taken on by the airline.
Permira chief faces union demands
Union leaders at the GMB will call for better pay and a recruitment drive at AA, the vehicle breakdown organisation, on Monday when they finally meet Damon Buffini, the Permira managing partner, for peace talks proposed by Mr Buffini at the height of the union’s anti-private equity campaign last month,
New Look warms to £2bn sale
New Look, the high street retailer, has appointed Merrill Lynch to look at its strategic options as the privately owned retailer gets ready to put itself up for sale – with a price tag of up to £2bn.
Walker assembles high-flying private equity working group
Sir David Walker has named an 11-member team, including Lady Hogg, 3i chairman, and Lord Hollick, the former United Business Media chief executive, for his working party on the private equity industry.