Mon, Aug. 24, 8:21 AM
- Private-equity firms have gathered into three separate packs to get enough juice to bid up to $6B on the South Korean business of Tesco (OTCPK:TSCDY), Reuters reports, in what could be Asia's biggest P-E deal ever.
- A combination of KKR and Affinity Equity Partners is in one group; Carlyle Group (NASDAQ:CG) and GIC are another; and MBK Partners will look for funding from South Korea's National Pension Service to pursue it.
- Divesting its South Korean business, Homeplus, would be the biggest move the chain has made as it tries to reverse a decline resulting from an accounting scandal.
- The Homeplus unit has annual revenue of about $5.9B. Final bids for the business are due today. Along with pretty much everything else, Tesco shares are down 3.5% in London.
- Carlyle Group is down 1.1% and KKR down 3.8% in premarket trading.
Tue, Aug. 11, 2:55 AM
- Symantec (NASDAQ:SYMC) plans to sell its data storage business Veritas to Carlyle Group (NASDAQ:CG) under a deal set to be announced this afternoon, when the former reports its quarterly results.
- Carlyle would pay on the high side of a range between $7B-$8B. At that price, the deal would be this year's largest private equity takeover of a tech company.
Tue, Jul. 7, 6:41 PM
- Bloomberg reports Symantec (NASDAQ:SYMC) is "nearing a deal" to sell its Veritas storage software unit (currently set to be spun off) to P-E firm Carlyle (NASDAQ:CG) for $7B-$8B. For reference, Symantec closed today with a $15.4B market cap.
- Deal terms are still being negotiated. Symantec hasn't been shy about its willingness to field offers for Veritas, which was acquired for $13B+ in 2005. Reuters reported in April tax concerns had hurt buyout interest.
- Symantec has risen to $23.40 AH. The company's Information Management ops had FY15 (ended in March) revenue of $2.56B (+1% Y/Y).
Tue, Jun. 16, 2:57 PM
- An earlier report from Reuters has Blackstone (NYSE:BX) and The Carlyle Group (NASDAQ:CG) making a joint bid to take out NCR for more than $10B, and NCR is up 10.7% on the news. Also mulling a bid are Apollo Global (NYSE:APO) and Thoma Bravo, according to Reuters.
- Previously: NCR +14.8%; Blackstone, Carlyle reportedly making joint bid (June 16)
Mon, Apr. 6, 5:39 AM
- Chinese online game developer Shanda Games (NASDAQ:GAME) has agreed to be taken private by Capitalhold in a deal worth $1.9B.
- Capitalhold will pay $3.55 per ordinary share and $7.10 per ADS for Shanda, a premium of 46.5% to Shanda's 30-day average trading price.
- The deal brings to an end a year-long saga during which Shanda Games was courted by its parent Shanda Interactive, backed by Carlyle Group (NASDAQ:CG) and Fountainvest Partners.
- Previously: Shanda M&A consortium gets more members (March 16)
- Previously: Carlyle, Fountainvest and others pull $1.9B bid for Shanda Games (Sept. 3, 2014)
Dec. 24, 2014, 7:09 AM| Comment!
Sep. 3, 2014, 6:44 AM
- Carlyle Group (NASDAQ:CG) and Fountainvest Partners have pulled out of a consortium backing a $1.9B bid to purchase Shanda Games (NASDAQ:GAME). Perfect World (NASDAQ:PWRD) and private equity firm Primavera Capital have also exited the consortium.
- Shanda Interactive Entertainment and an affiliate of Primavera, which together held 76.2% of Shanda, in January had offered $6.90 per ADS to buy the company, valuing it at $1.9B.
- Fountainvest joined the Shanda consortium in April, while Carlyle joined in May.
Sep. 2, 2014, 3:52 AM
- Despite Akzo Nobel (OTCQX:AKZOY) CEO Ton Buechner's cost cutting agenda, the chief exec is being singled out for a deal to buy Axalta Coating Systems for more than $7B.
- Bloomberg reports that the company has not yet indicated if it will pursue the deal.
- Carlyle Group (NASDAQ:CG) purchased vehicle-coatings company Axalta from Dupont for $4.9B in February 2013 and filed for its IPO last month.
Aug. 27, 2014, 4:32 AM
- Carlyle Group (NASDAQ:CG) is said to be in advanced talks with China's largest developer, China Vanke (OTC:CVKEY), to buy stakes in nine of its shopping malls.
- The purchase would give Carlyle access to China's commercial real estate market and a non-binding memorandum of understanding could be signed as early as tomorrow.
- Sources say the deal could fetch between 6B-7B yuan ($976M-$1.1B) or even be valued at up to 10B yuan.
Jul. 29, 2014, 3:22 AM
- Carlyle Group (NASDAQ:CG) has entered advanced talks to acquire Acosta Sales and Marketing, a consumer goods marketing agency, currently owned by private equity group Thomas H. Lee Partners.
- The deal could value the latter at almost $5B including debt, and Carlyle is likely to secure an agreement as early as this week.
Jul. 28, 2014, 5:15 PM
- FleetCor Technologies (NYSE:FLT) and P-E firms including Carlyle Group (NASDAQ:CG) and Silver Lake Partners are seeking to acquire payments processing company Comdata for more than $3B, Reuters reports.
- A potential takeover of Comdata would mark one of FLT's largest deals and expand its capabilities in electronic payment processing.
Apr. 22, 2014, 3:18 AM
- Hospital Corp of America (HCA) is among a number of suitors interested in acquiring Healthscope, an Australian hospital and pathology company being sold by private-equity owners Carlyle (CG) and TPG, the WSJ reports. A deal could be worth $5B.
- Other prospective buyers for Healthscope include China's Shanghai Fosun Pharmaceutical and Malaysia's IHH Healthcare (IHHHF).
- Alternatively, Healthscope could carry out an IPO.
- TPG and Carlyle bought the company for $1.7B in 2010.
Mar. 25, 2014, 7:03 PM
- Bloomberg reports Blackstone, KKR, and Clayton Dubilier & Rice have made bids for Carlyle-owned (CG) chemicals maker PQ Holdings. In addition, specialty chemicals maker Albemarle is said to be interested. Two sources think PQ could fetch $3B-$4B.
- PQ filed for a $450M IPO last month. But the move is widely seen as an attempt by Carlyle to pursue a dual-track process, rather than an abandoning of sale attempts.
- Previously: Carlyle reportedly prepping IPO or sale of PQ
Mar. 10, 2014, 7:20 AM
- Schneider Electric (SBGSF) confirms it's in discussions with prospective suitors about selling them its sensors unit CST.
- Les Echos reports that Schneider is in talks with private-equity firm Carlyle (CG) and PAI Partners about a deal that could see the electrical-gear maker reap up to $900M and retain 30% of CST.
Mar. 3, 2014, 7:04 AM
Feb. 26, 2014, 7:31 AM
- Carlyle (CG) is close to an agreement to acquire Tyco's (TYC) South Korean home-security unit for $1.5B, the WSJ reports, adding that a deal could be announced this week.
- The unit, called Cap, has the potential to grow, as home-security penetration is relatively low in South Korea, while the commercial market also presents opportunities.
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