Private equity correspondent
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Sep 7, 2012

Robeco may fetch more than 2 billion euros in sale: sources

LONDON/NEW YORK (Reuters) – Rabobank’s asset management arm, Robeco, is expected to fetch more than 2 billion euros ($2.6 billion), as several private equity firms and asset managers line up for the next round of bids due later this month, according to people familiar with the matter.

New York-based asset manager AMG (AMG.N: Quote, Profile, Research, Stock Buzz) and Australian bank Macquarie Group Ltd (MQG.AX: Quote, Profile, Research, Stock Buzz), as well as buyout firms Advent International, CVC Capital Partners and Permira Advisers LLP, are among the parties evaluating offers, the people said.

Jul 26, 2012

Investcorp plans sale of Armacell-sources

LONDON/FRANKFURT, July 26 (Reuters) – Private equity group
Investcorp is considering the sale of Armacell, a
leading maker of insulation materials, aiming to capitalise on
growing investor interest in energy-efficient products, people
familiar with the situation said.

A sale of the company could attract large industrials groups
such as 3M and fetch Bahrain-backed Investcorp more than
300 million euros ($364 million), two of the people said.

Jul 25, 2012

Peugeot prepares finances for GEFCO suitors-sources

LONDON, July 25 (Reuters) – Loss-making Peugeot is
working on a financing package to help push through the sale of
logistics division GEFCO, people familiar with the process said,
as the French auto group fights to keep the critical disposal on
track.

Europe’s second-largest car maker has been pushing ahead
with an unpopular plant closure and thousands of job cuts to try
and contain ballooning losses that threaten its future.

Jul 19, 2012

Bang & Olufsen enrolls partners for China growth

LONDON/COPENHAGEN (Reuters) – Electronics maker Bang & Olufsen (BO.CO: Quote, Profile, Research, Stock Buzz) is taking on two little-known strategic investors as it looks to increase sales tenfold in China and catch up luxury rivals in the world’s largest market.

The Danish company, struggling to recapture its pre-eminence in upmarket stereos and televisions, follows a hoard of luxury brands that have pinned their hopes on China’s growing middle classes to offset weak demand in Europe and the United States.

Jul 18, 2012

Buyers’ stand-off threatens to choke private equity

LONDON, July 18 (Reuters) – Buyout firms are unwilling to
sell businesses, bought in the boom, at knock-down prices for
fear of missing out on big bonuses, creating a huge backlog of
unsold companies that threatens to choke the industry.

Private equity houses invested heavily in companies from
pharmacy chains to oil and gas explorers before the 2008/9
global financial crisis, using $2 trillion of capital supplied
by pension funds and other investors and cheap, plentiful bank
debt.

Jul 16, 2012

Dealtalk: Direct Line’s buyout suitors face uphill struggle

LONDON (Reuters) – Buyout firms hoping to snap up Royal Bank of Scotland’s (RBS.L: Quote, Profile, Research, Stock Buzz) Direct Line Group will have to put forward a compelling offer to distract the British bank from a well-advanced plan to list its motor insurance business.

Floating Direct Line could value Britain’s No. 1 motor insurer at over 3 billion pounds ($4.7 billion), analysts reckon, which would likely be more than bargain-hungry private equity groups are willing to pay.

Jul 16, 2012

Direct Line’s buyout suitors face uphill struggle

LONDON, July 16 (Reuters) – Buyout firms hoping to snap up
Royal Bank of Scotland’s Direct Line Group will have to
put forward a compelling offer to distract the British bank from
a well-advanced plan to list its motor insurance business.

Floating Direct Line could value Britain’s No. 1 motor
insurer at over 3 billion pounds ($4.7 billion), analysts
reckon, which would likely be more than bargain-hungry private
equity groups are willing to pay.

Jul 12, 2012

Qatari royals buy Italian fashion icon Valentino

MILAN/LONDON, July 12 (Reuters) – Italian fashion house
Valentino has been snapped up by the Qatari royal family for 700
million euros ($857.5 million), the latest purchase of a top
European luxury brand by an emerging market investor.

The luxury label loved by Jacqueline Kennedy Onassis and
Audrey Hepburn said on Thursday that Mayhoola for Investments
S.P.C, an investment vehicle backed by a leading Qatari, had
bought it from UK-based private equity fund Permira and minority
investors the Marzotto textile entrepreneurs.

Jul 10, 2012

Exclusive: Get cable owners seek 1 billion euro sale – sources

LONDON (Reuters) – The private equity owners of Norwegian cable group Get are preparing for a 1 billion euro-plus ($1.2 billion) sale of the company, people familiar with the situation said, aiming to tap one of the most active sectors for buyout groups since the credit crisis.

Telecoms- and technology-focused buyouts group Quadrangle and Goldman Sachs Capital Partners are considering putting the country’s second largest cable company up for sale later this year, or early next year, three people said.

Jul 10, 2012

Get cable owners seek 1 bln euro sale-sources

LONDON, July 10 (Reuters) – The private equity owners of
Norwegian cable group Get are preparing for a 1 billion
euro-plus ($1.2 billion) sale of the company, people familiar
with the situation said, aiming to tap one of the most active
sectors for buyout groups since the credit crisis.

Telecoms- and technology-focused buyouts group Quadrangle
and Goldman Sachs Capital Partners are considering putting the
country’s second largest cable company up for sale later this
year, or early next year, three people said.