Private equity correspondent
Simon's Feed
Dec 14, 2011

TDF mulls sale of Finnish broadcast arm Digita -sources

LONDON/HELSINKI, Dec 14 (Reuters) – TDF is considering
the sale its Finnish business Digita as the private
equity-backed French broadcasting group prepares the ground for
its stock market listing, people familiar with the situation
said.

Digita could fetch about 400 million euros ($520 million)
and could appeal to rival broadcast network operators and
private equity firms, some of those people said on Wednesday.

Dec 12, 2011

Dealtalk: Banks cutting lifelines to struggling UK companies

LONDON (Reuters) – Since the credit crunch of 2008, British banks have been accumulating equity stakes in hundreds of ailing companies they had lent to.

It’s a trend that looks set to end, with disastrous consequences for many businesses.

Dec 8, 2011

Buyout firms bid for drugs maker Rottapharm -sources

LONDON, Dec 8 (Reuters) – A handful of private equity
firms have tabled bids for Italian drugs company Rottapharm,
which founder Luigi Rovati had been hoping would be valued at up
to 2 billion euros ($2.7 billion), people familiar with the
situation said.

Private equity groups Advent International, Carlyle Group
, Charterhouse, Avista and
Clessidra all submitted second round bids for the company on
Monday, three people said.

Dec 6, 2011

Electra disposals to slow amid tough conditions

LONDON, Dec 6 (Reuters) – Electra Private Equity
sees a slowing of its disposals over the next few
months as tough debt markets weigh on buyers’ capacity to do
deals, the group said on Tuesday.

Following a run of sales of investments, Electra does not
expect a similar level of divestments over coming months, said
deputy managing partner David Symondson in a telephone
interview.

Nov 29, 2011

Europe’s mega buyouts produce outsized returns

LONDON, Nov 29 (Reuters) – The largest buyouts
generated some of the best returns for the private equity
industry in Europe in the last year, as markets rebounded and
firms wrote up the value of their investments.

Mega buyouts, defined as investments larger than $5 billion,
produced returns of 22.4 percent in the 12 months to end June,
according to data from Thomson Reuters.

Nov 24, 2011

UBS sticks with fundraising group as rivals circle

LONDON, Nov 24 (Reuters) – UBS AG said it
plans to stick with its market-leading private equity placement
group, which helps raise money for some of the world’s largest
private equity firms, despite circling rivals eyeing a chance to
pick off the group and its team.

The division’s staff remain loyal to UBS and the bank has no
plans to exit the business, which consumes no balance sheet
capital, said James Moore, global co-head of the private funds
group. “We are absolutely committed to the business,” Moore
said.

Nov 22, 2011

TI Auto sale in trouble as debt dries up -sources

LONDON, Nov 22 (Reuters) – The sale of autoparts
supplier TI Automotive is unravelling after the private equity
group Carlyle failed to secure enough debt financing to
buy the group, people familiar with the process said.

Buyout group Carlyle was in talks to buy the British-based
business but was forced to back away last week after it was
unable to raise enough debt to support a deal for the business
that has $2.5 billion in sales, two people said.

Nov 18, 2011

Dealtalk: Debt time bomb may push more buyout companies public

LONDON (Reuters) – For private equity firms it’s the equivalent of the $64,000 question: how to extract value from their debt-laden businesses at a time when refinancing is nigh on impossible and outright sales have all but dried up.

In many cases it could make anaemic returns from IPOs the best they can expect.

Private equity-owned firms have $270 billion in loans due by the end of 2015, according to Thomson Reuters LPC/DealScan data, a vast sum as Europe’s banks struggle with the debt crisis and fears of a credit crunch loom large.

Nov 15, 2011

Time’s up for 3i buyout fund to do new deals

LONDON, Nov 15 (Reuters) – UK private equity firm 3i
Group potentially runs out of steam this week when the
investment period ends for its 5 billion-euro ($6.8 billion)
flagship fund, people familiar with the matter said, curtailing
its firepower to strike new deals.

One of Europe’s largest investors in companies worth up to 1
billion euros, London-listed 3i has bought into businesses as
diverse as Tommee Tippee baby bottle maker Mayborn, Dutch
discount retailer Action, and lingerie retailer Agent
Provocateur.

Nov 10, 2011

3i signals full year dividend increase

LONDON, Nov 10 (Reuters) – Private equity firm 3i Group Plc unveiled a sharp increase in dividend payments to
placate shareholders frustrated at its underperforming share
price, despite turbulent markets knocking its performance in the
first half.

3i has come under fire from shareholders over a share price
that has trailed asset values by around 40 percent in recent
months, and the writedowns of businesses like outsourcing
company Enterprise Group.