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FRANKFURT (Reuters) – Siemens SIEGn.DE is in talks with Triton and other buyout groups to sell its 1.5-2 billion euro ($1.8-$2.4 bln) transmissions maker Flender, people close to the matter said, part of the industrial conglomerate’s plans to streamline its operations.

FILE PHOTO: The headquarters of Siemens AG is seen in Munich, Germany, December 18, 2019. REUTERS/Michael Dalder

Siemens has asked Triton, Carlyle CG.O, CVC and Brookfield to submit final offers next week for the business, which has earnings before interest, tax, depreciation and amortisation of just above 200 million euros and could be valued at 8-9 times that, the sources added.

The trains to industrial software maker has simplified its structure in the past few years, floating its turbines and generators supplier Siemens Energy ENR1n.DE last month after spinning off its Healthineers SHLG.DE division in 2018.

Siemens, its advisers for the Flender deal — Citi C.N and Bank

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FILE PHOTO: Calin Rovinescu, CEO of Air Canada speaks during a panel discussion on Cyber Security at the 2016 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Dublin, Ireland June 3, 2016. REUTERS/Clodagh Kilcoyne/File Photo

(Reuters) – Air Canada AC.TO has slashed its price to buy Canadian tour operator Transat A.T. Inc TRZ.TO, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday.

The country’s largest carrier had secured Transat shareholders’ approval for the deal last year with an C$18.00 a share bid, to bolster its then thriving leisure business.

But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May.

Montreal-based Air Canada, like

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(Reuters) – Air Canada

has slashed its price to buy Canadian tour operator Transat A.T. Inc
, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday.

The country’s largest carrier had secured Transat shareholders’ approval for the deal last year with an C$18.00 a share bid, to bolster its then thriving leisure business.

But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May.

Montreal-based Air Canada, like many of its global peers, has slashed flights, suspended financial forecasts and sought government aid as the industry deals with its worst slump.

Companies have been cancelling deals amid COVID-19 uncertainty, with aircraft parts suppliers Hexcel Corp

and Woodward Inc

abandoning their planned $6.4

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A Dallas company led by auto finance veteran Samuel Ellis is offering to buy out a California firm that specializes in subprime auto loans for $135 million.

Auto Experience Inc., which Ellis formed in 2018, said it made the all-cash bid in a letter to the board of directors of Consumer Portfolio Services Inc. after trading markets closed Wednesday. Its offer amounts to $6.18 a share — an 84% premium over where the Nasdaq-listed company’s stock ended Wednesday.

The suitor gave CPS until Oct. 30 to respond.

Based in Irvine, Calif., CPS works with auto dealers to buy and service consumer loans, funding its purchases primarily through securitization markets. About 75% of its business is financing used car sales, and its customers often have limited credit histories or past credit problems.

The 834-employee company posted revenue of $346 million last year, with $5.4 million in profit. It has recorded 28

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A shortage of buyers in any market is a magnet for private equity. There were competing buyout bids for Walmart Inc.’s sale of a majority stake in U.K. grocer Asda. Trustbusters had already vetoed a domestic merger. One of the failed bidders, Apollo Global Management Inc., was simultaneously trying to buy listed bookmaker William Hill Plc, which has since agreed to a takeover by joint venture partner Caesars Entertainment Inc.

There’s a perception British takeover regulations hamper so-called take-private deals. Reforms were introduced in 2011 following Cadbury’s controversial purchase by what’s now Mondelez International Inc. Any leak of an approach requires the target to name the suitor, who must then formalize an offer within 28 days or walk away.

Private equity firms don’t like the idea that their tentative prospects could be made public given so many talks fail. The timetable is also tight for negotiating a price, conducting due

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Alpine Income Property Trust, Inc. PINE has been focusing on the expansion of its portfolio of single-tenant net leased properties on the back of acquisitions. In line with such efforts, the company recently announced the purchase of a single-tenant, net-leased retail income property for $1.8 million.

The property is situated in Odessa, TX, and leased to Dollar General DG. Also, Dollar General is Alpine Income’s one of the top five largest tenants, based on the percentage of the annual base rent.

The transaction represents a weighted average going-in cap rate of 6.5%. The property has 14.8 years remaining on the initial lease term. This, along with the investment-grade rating of the tenants’ parent entity, suggests that the company will enjoy a steady stream of rental revenues over the long term.

Moreover, the purchase was funded with the company’s line of credit.

Recently, the company also acquired two properties in Texas

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a man holding a stop sign in front of a crowd: Passersby wearing protective face masks walk past in front of NTT Docomo shop in Tokyo, Japan


© Reuters/ISSEI KATO
Passersby wearing protective face masks walk past in front of NTT Docomo shop in Tokyo, Japan

By Sam Nussey and Makiko Yamazaki

TOKYO (Reuters) – Japan’s Nippon Telegraph and Telephone Corp (NTT) said it will spend 4.25 trillion yen ($40 billion) to take its wireless carrier business private, in a deal that opens the path to lower prices as the government calls for cuts.



a sign in front of a building: The logo of NTT (Nippon Telegraph and Telephone Corporation) is displayed at the company office in Tokyo


© Reuters/ISSEI KATO
The logo of NTT (Nippon Telegraph and Telephone Corporation) is displayed at the company office in Tokyo

NTT will launch Japan’s largest-ever tender offer for the 34% of NTT Docomo Inc stock that it does not own, the firm said in a statement. The telecoms firm will offer 3,900 yen per share, a premium of 40.5% to Monday’s closing price.



a group of people standing in front of a sign: The logo of NTT Docomo is displayed at its shop in Tokyo, Japan


© Reuters/ISSEI KATO
The logo of NTT Docomo is displayed at its shop in Tokyo, Japan

The buyout comes as

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(Bloomberg Businessweek) — Even in the midst of a crisis, railroads don’t come cheap.



a graffiti covered wall: This image can only be used with attached article for period of 90 days from publication


© Illustration: George Wylesol for Bloomberg Businessweek
This image can only be used with attached article for period of 90 days from publication

Kansas City Southern rejected a $208-a-share offer from Blackstone Group Inc. and Global Infrastructure Partners (GIP) that would have valued it at almost $23 billion, including debt, according to the Wall Street Journal. The bid prices Kansas City Southern as if the pandemic—and the associated plunge in rail volumes—had never happened: It’s a 17% premium over the stock’s pre-lockdown high in February. The two sides aren’t in discussions, the Journal said.

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Private equity firms were sitting on a record store of unspent cash at the start of the year, with about $98 billion raised in 2019 for infrastructure investments alone, according to Preqin. But with the stock market near record

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Aircraft operated by Virgin Australia Holdings Ltd. stand at Sydney Airport in Sydney, Australia, on Friday, August 17, 2020.

Brendon Thorne | Bloomberg | Getty Images

Virgin Australia’s creditors on Friday has allowed U.S. private equity company Bain Capital to purchase the airline, Virgin said in a statement, after it filed for bankruptcy protection in April amid a global debt crisis.

The airline was badly hit when travel was halted in most countries earlier this year, in a bid to stem the spread of the coronavirus pandemic. Virgin entered voluntary administration in April, and appointed Deloitte as administrator, after it was unable to find financial support for the business.

The transfer of shares to Bain Capital, which must be approved by the Federal Court of Australia, is expected to be completed by Oct. 31, the statement added.

“This is an important outcome for Virgin Australia, which brings us closer to

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AP
Published 1:08 p.m. ET Sept. 3, 2020

RALEIGH, N.C. (AP) — Former North Carolina State men’s basketball coach Mark Gottfried is suing the school for buyout money he says has been improperly withheld.

Attorneys for Gottfried – now Cal State Northridge’s head coach – filed the lawsuit in a North Carolina federal court Monday, saying N.C. State violated a March 2017 termination agreement. N.C. State was due to pay Gottfried remaining salary in monthly installments through the April 2020 end of his contract, according to a copy of the agreement filed with the lawsuit.

But the complaint states the school hasn’t paid Gottfried since August 2018.

The NCAA has since charged the school with four violations tied to the recruitment of former Wolfpack one-and-done star Dennis Smith Jr., which grew out of a federal corruption investigation into college basketball. Gottfried is charged individually under the

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