Private equity correspondent
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Dec 14, 2012

Buyout firms seek Spanish route to Latin America

LONDON, Dec 14 (Reuters) – Private equity firms are on the
hunt for cheap Spanish companies that can give them a
springboard into fast-growing Latin America, raising hopes for a
pick-up in deals next year as bank-related sales slowly get off
the ground.

Spain’s financial crisis has cut the price of its corporates,
but also effectively frozen local lending for private equity
deals as banks shrink their loan books.

Dec 5, 2012

Intersnack to buy KP Snacks from United Biscuits

LONDON, Dec 5 (Reuters) – German group Intersnack is to buy
KP Snacks, Britain’s second-largest savoury snacks maker, in a
deal that could pave the way for the sale of the rest of United
Biscuits by its private equity owners.

While no financial detail was disclosed, two people familiar
with the situation said on Wednesday the deal for the maker of
Hula Hoops and KP Nuts was worth more than 500 million pounds
($805 million).

Nov 29, 2012

ProSiebenSat expects two bids for Nordic TV -sources

LONDON, Nov 29 (Reuters) – ProSiebenSat.1 is
expecting two bids for its Nordic TV channels, valued at more
than 1 billion euros ($1.3 billion), five people familiar with
the situation said.

The disposal of the division could pave the way for the rest
of the German broadcaster, as its private equity owners KKR
and Permira carve the company up to make it
more attractive to prospective buyers.

Nov 23, 2012

IK Investment plans sale of fire safety firm Minimax

FRANKFURT/LONDON (Reuters) – Private equity group IK Investment Partners is planning the sale of German-based fire extinguisher maker Minimax, which generated 1 billion euros ($1.3 billion) in sales last year, four people familiar with the situation said.

The private equity house, which focuses on buying mid-sized companies in Northern Europe, aims to pick advisory banks early next year with a view to launching the sale process within the first half of the year, the people added.

Nov 14, 2012

Private equity poised for push into Africa

LONDON, Nov 14 (Reuters) – Private equity houses are
swapping low-growth buyout deals in Europe and North America for
a slice of booming consumer demand in Africa.

They are drawn by a youthful and booming population that
could almost double to 2 billion by 2050, some of the fastest
growing economies in the world, and an emerging middle class
which wants everything from banks and insurance, to places to
eat out.

Nov 13, 2012

Advent raises 8.5 billion euros for buyout fund

LONDON (Reuters) – Advent International has amassed 8.5 billion euros in one of the biggest private equity fundraisings since the financial crisis, helped by the U.S. group’s strong track record on returns.

Private equity firms, which raise money to buy businesses to sell them later at a profit, have had a difficult time since the crisis partly because bank financing for their debt-funded deals has become scarce and returns have come under pressure.

Nov 12, 2012

Advent raises 8.5 bln eur for buyout fund

LONDON, Nov 12 (Reuters) – U.S. private equity firm Advent
International has raised 8.5 billion euros ($10.8 billion) for
its latest fund, one of the largest pools of capital raised for
buyouts since the financial crisis.

Advent, whose deals include buying RBS’s payment
processing business WorldPay, raised more than the 7 billion
euros it initially planned for in its seventh Global Private
Equity Fund, making it the firm’s biggest fund since it was
founded in 1984.

Nov 7, 2012

Swedish buyout bosses face tax crackdown

LONDON/STOCKHOLM, Nov 7 (Reuters) – Sweden is widening a
probe into the tax affairs of private equity dealmakers, as part
of a clampdown which has already led to bills for hundreds of
millions of dollars of back taxes.

The Scandinavian country has become the largest private
equity market in Europe in recent years, relative to the size of
its economy, with deals worth almost $5 billion agreed in 2011.

Nov 2, 2012

Italy’s Avio in sale talks as hopes of listing fade – sources

MILAN/LONDON, Nov 2 (Reuters) – The private equity owners of
Italy’s Avio are pressing ahead with talks to sell the airplane
engine parts maker, as a planned listing looks less likely,
sources close to the deal said.

In May Avio revived plans to go public, filing to list on
the Milan bourse, but the following month sources told Reuters
the company had postponed the offering for the second time in a
year due to market conditions.

Oct 31, 2012

Three buyout houses vie for Intertrust as two drop out

LONDON, Oct 31 (Reuters) – Three private equity firms are
left in the running for Dutch trust and corporate management
business Intertrust Group after Carlyle and Goldman Sachs
Private Equity dropped out, banking sources said on Wednesday.

Blackstone, Cinven and Pamplona are preparing to submit
second round bids on Nov. 7 for Intertrust, the banking sources
said. The firm is being sold in an auction process by private
equity company Waterland.