Hochtief AG is returning to its construction roots by the sale of its airport management division. Hochtief AG has entered into an agreement to sell its airport division to the Public Sector Pension Investment Board of Canada.
Europe
MediFox Group Purchased by ECM Equity
Medifox Group to grow with ECM Equity at the helm. On Tuesday, German Equity Partners IV, a fund administered by the independent German private equity firm, ECM Equity Capital Management GmbH has purchased MediFox Group.
Sainsbury to Acquire Sainsbury Bank in Full
Sainsbury to acquire Sainsbury Bank in full from Lloyds Banking Group. The third largest supermarket retailer in Britain, J Sainsbury is in deep discussion woth Lloyds Banking Group as to the acquisition of full ownership of the Sainsbury Bank joint venture.
Solvay to Exit its PVC Business
Solvay forms a JV with peer INEOS as preparation for its exit from the business. Solvay, the plastic and chemicals manufacturer from Belgium is seeking an exit from its European PVC business through the formation of a jount venture with INEOS.
Betfair Increases Profit Forecast to Avoid Acquisition
Betfair puffs up to block CVC Capital's takeover bid. On Tuesday, the online gambling company Betfair increased its profit forecast which included the company's target on cost savings.
Latest News
Flexitallic, the sealing product specialist has been acquired by international private equity firm Bridgeport.
Intel's McAfee purchases firewall security software expert Stonesoft for Eur4.50 per share. The security software division of chipmaker giant Intel Corp, McAfee, announce plans to purchase network firewall software developer Stonesoft Oyj of Finland.
Linde's acquisition of Lincare provides boost in profit for the first quarter. Linde, the world's second largest industrial gas producer, reported a 12.
The M&A market is now primed for growth after a dip in the past few months. Cash rich companies are now in the midst of a mergers and acquisition spree that can help boost the European equities market rally after being stalled for quite some time.
Orsi, arrested for the India helicopter scam, was released pending trial. Former Finmeccanica CEO has been released from jail pending trial on charges of corruption next month.
EU advises France to lower its budget deficit. Michel Barnier, the EU Internal Market Commissione advised the French government to undertake its planned reforms.
Junk rated companies are riding the crest of yield seeking investors, regardless of the risks. The current European economic crisis has moved a rate cut this week, but this did not hinder the unstoppable search for profit from many fund managers.
Buyout flipping means private equity funds sell and buy assets from one another, which to many looks like recycling in order to generate funds.
More and more banks are incensed with deals done privately instead of the normal auction process conducted.
