Quentin's Feed
Dec 10, 2010

Blackstone nears deal for CVC’s Mivisa: sources

LONDON (Reuters) – Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), the U.S. private equity firm, is nearing a deal to buy Mivisa MIVIS.UL after making the only binding offer for the Spanish maker of food cans, people familiar with the matter said on Friday.

But Mivisa’s current owner, Blackstone’s European rival CVC CVC.UL, could still reject the offer, which two people said was closer to 900 million euros ($1.2 billion) than the 1 to 1.2 billion that CVC originally sought.

Dec 6, 2010

Buyout trio chase Dutch chemical firm IMCD: sources

LONDON (Reuters) – New Mountain Capital is vying with larger private equity rivals Bain Capital and Cinven CINV.UL to buy Dutch chemicals distributor IMCD, which has nearly 1 billion euros ($1.3 billion) in sales, people familiar with the matter said.

The trio are in the second round of bidding for the Rotterdam-based chemical distributor, which has been owned by ABN Amro’s former private equity arm AAC Capital since 2005.

Dec 1, 2010

Crisis-hit Europe lags M&A rebound in Asia, U.S.

LONDON, Dec 1 (Reuters) – Hobbled by a rampant
sovereign-debt crisis, Europe is lagging a global rebound in
dealmaking that has pushed global mergers and acquisitions (M&A)
up nearly 40 percent this year.

Europe’s share of global M&A has fallen to 25 percent of
overall deals by dollar value this year, the lowest since 1998.
That compares to 30 percent last year and an average 38 percent
between 2002 and 2008.

Nov 30, 2010

European M&A to advance after “lost year”: UBS poll

LONDON (Reuters) – More than a quarter of bigger European companies aim to make a sizeable takeover next year, a survey showed, as a drive for growth spurs executives to put a “lost year” for mergers and acquisitions (M&A) behind them.

After plummeting to a six-year low last year, dealmaking in Europe has failed to match a rebound in company profits and financial strength, as a string of sovereign debt crises have made markets volatile and dented corporate confidence.

Nov 30, 2010

European M&A to advance after “lost year”-UBS poll

LONDON, Nov 30 (Reuters) – More than a quarter of bigger
European companies aim to make a sizeable takeover next year, a
survey showed, as a drive for growth spurs executives to put a
“lost year” for mergers and acquisitions (M&A) behind them.

After plummeting to a six-year low last year, dealmaking in
Europe has failed to match a rebound in company profits and
financial strength, as a string of sovereign debt crises have
made markets volatile and dented corporate confidence.

Nov 26, 2010

Banks prepare Ferrovial’s BAA stake sale-sources

AMSTERDAM/LONDON, Nov 26 (Reuters) – Spanish group Ferrovial
(FER.MC: Quote, Profile, Research, Stock Buzz) has hired Goldman Sachs and HSBC to sell a 10 percent
stake in BAA, Britain’s largest airport operator, and the sale
will begin next week, people familiar with the matter said.

The infrastructure group owns 55.9 percent of BAA
[FERBA.UL], the operator of airports including London’s Heathrow
and Stansted. It announced the stake sale in October.
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Nov 26, 2010

Banks set to start Ferrovial’s BAA sale: sources

AMSTERDAM/LONDON (Reuters) – Ferrovial SA has hired Goldman Sachs and HSBC to sell a 10 percent stake in BAA, Britain’s largest airport operator, and the sale will begin next week, people familiar with the matter said.

The Spanish infrastructure group owns 55.9 percent of BAA, the operator of airports including London’s Heathrow and Stansted. It announced the planned selldown in October.

Nov 25, 2010

HgCapital eyes German lighting firm sale -sources

LONDON, Nov 25 (Reuters) – Buyout firm HgCapital has
appointed Macquarie (MQG.AX: Quote, Profile, Research, Stock Buzz) to investigate a sale of SLV Group,
the German lighting firm it bought for 320 million euros ($426.1
million) in 2007, people familiar with the matter said.

SLV, which makes and supplies lights to the specialist
trade, could fetch more than 400 million euros ($532.6 million),
one of the people said.
Earnings before interest, tax, amortisation and depreciation
(EBITDA) are running at more than 40 million euros, the person
said. Ebitda was about 25 million in 2006.

Nov 25, 2010

HgCapital eyes German lighting firm sale -sources

LONDON, Nov 25 (Reuters) – Buyout firm HgCapital has
appointed Macquarie (MQG.AX: Quote, Profile, Research) to investigate a sale of SLV Group,
the German lighting firm it bought for 320 million euros ($426.1
million) in 2007, people familiar with the matter said.

SLV, which makes and supplies lights to the specialist
trade, could fetch more than 400 million euros ($532.6 million),
one of the people said.
Earnings before interest, tax, amortisation and depreciation
(EBITDA) are running at more than 40 million euros, the person
said. Ebitda was about 25 million in 2006.

Nov 19, 2010

WiMax chipmaker Sequans picks IPO banks -sources

LONDON, Nov 19 (Reuters) – Sequans Communications, a French
maker of chips used in high-speed wireless networks, has picked
Jefferies (JEF.N: Quote, Profile, Research, Stock Buzz) and UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) to help it prepare a $100
million Nasdaq listing, people familiar with the matter said.

Sequans has also engaged Frank Quattrone’s technology
boutique, Qatalyst Partners, in an “equity advisory” role on the
initial public offering (IPO), the people added.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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