Cerberus Capital Management said it would buy defense contractor DynCorp International for about $1 billion in cash in one of the biggest leveraged buyouts of a publicly traded US company since the global financial crisis. Read the Reuters story here.
A subsidiary of China’s Sinopec Group agreed to pay $4.65 billion for ConocoPhillips’s stake in a Canadian oil sands project, marking the country’s second largest investment in North America. Read the Reuters story here.
And in stories reported by other media on Tuesday:
Buyout lender Intermediate Capital Group has raised 843 million euros for a new fund that will invest in debt-burdened private equity deals, the FT said. The fund will buy debt at a discount and provide fresh capital for European companies worth as much as 500 million euros.