— The author is a Reuters Breakingviews columnist. The opinions expressed are his own —
By Quentin Webb
LONDON (Reuters Breakingviews) – The Jimmy Choo buyout is proof that private equity firms can run in heels. The luxury shoemaker’s backers have made a stellar return from their investment, in spite of buying the company at the height of the boom. Its new owners — Labelux, a vehicle for Germany’s billionaire Reimann family — may not be in for as fast a buck. But buying Jimmy Choo makes sense as a long-term bet on the Asian luxury market.
TOKYO/LONDON (Reuters) – Japan’s largest drugmaker Takeda Pharmaceutical is in talks to buy privately-held Swiss rival Nycomed for more than $12 billion (7.39 billion pounds) in a bid to extend its global reach into Europe and emerging markets, according to sources with direct knowledge of the matter.
The purchase would offer the mainly Asia and U.S-focussed maker of drugs for diabetes and heart disease access to a lung disease drug, Daxas, just approved in the United States, and a portfolio of over-the-counter consumer products.
TOKYO/LONDON (Reuters) – Japan’s largest drugmaker Takeda Pharmaceutical is in talks to buy privately-held Swiss rival Nycomed for more than $12 billion in a bid to extend its global reach into Europe and emerging markets, according to sources with direct knowledge of the matter.
The purchase would offer the mainly Asia and U.S-focused maker of drugs for diabetes and heart disease access to a lung disease drug, Daxas, just approved in the United States, and a portfolio of over-the-counter consumer products.
LONDON (Reuters) – Major private equity firms, including The Carlyle Group CYL.UL, Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), and Bain Capital, are vying for Securitas Direct, the $3 billion-plus alarm firm, people familiar with the matter said.
The trio are among at least seven buyout firms submitting indicative bids this week to EQT, the Swedish private equity firm backed by Sweden’s Wallenberg family that took Securitas Direct private three years ago.
NEW YORK (Reuters) – Microsoft snubbed investment banks for its largest deal ever, saving an estimated $25 million to $30 million by not using an adviser on the $8.5 billion takeover of Internet phone service Skype.
Skype’s advisers, Goldman Sachs and JPMorgan, will split about $30 million to $35 million in fees, according to Freeman Consulting. Goldman Sachs declined to comment. JPMorgan was not immediately available to comment.
LONDON, May 9 (Reuters) – Inside Secure, the chipmaker
hoping to benefit from a boom in technology that allows shoppers
to buy goods with the wave of a smartphone, has hired two banks
for a Paris flotation, people familiar with the matter said.
The French company, which specialises in so-called
“near-field communications”, has hired BNP Paribas and Jefferies
to prepare for an initial public share offer, the people said.
OSLO/LONDON, May 6 (Reuters) – Privately held Norwegian oil
services provider Aibel plans to decide by June whether to sell
the company or pursue an initial public offering (IPO), Chairman
Jo Lunder told Reuters on Friday.
“The Aibel process is on plan and there is strong interest
in the market,” Lunder said.
LONDON (Reuters) – As head of the world’s largest commodity trader, Ivan Glasenberg knows everything has a price, even his own closely guarded privacy. That figure is a startling $10 billion.
The prospectus for Glencore’s eagerly awaited initial public offering (IPO), published on Wednesday, ends years of secrecy and puts the publicity-shy 54-year-old fully in the limelight, revealing he holds 18.1 percent of the company.
LONDON (Reuters) – Commodity trader Glencore, set to list this month in one of London’s largest-ever offerings, has detailed its involvement in a Belgian criminal probe as it outlines risks to investors, including fraud and corruption.
Glencore said in a prospectus on Wednesday, ahead of its planned $11 billion listing, that its subsidiary Glencore Grain Rotterdam, a former employee and a current employee had been charged in a criminal case in Belgium.
LONDON, May 3 (Reuters) – Abu Dhabi’s Aabar Investments will
be the biggest of at least 10 “cornerstone” investors backing
the $12 billion flotation of Glencore, the Swiss commodity
trader, people familiar with the matter said on Tuesday.
Aabar, majority owned by the emirate’s International
Petroleum Investment Co (IPIC), will be joined by hedge funds
Och-Ziff Capital Management (OZM.N: Quote, Profile, Research, Stock Buzz) and Eton Park, Swiss banks
Credit Suisse, Pictet and UBS, and a quartet of Glencore’s
existing convertible bond investors, the people said.