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In a decisive shareholder victory, the Delaware Court of Chancery has found that the two most senior officers of Dole Food Co breached their fiduciary duties in structuring a 2013 buyout of the iconic producer of fresh fruits and vegetables that drastically undervalued the company to the detriment of stockholders.
Vice Chancellor Travis Laster held that Dole CEO David Murdock, along with the company’s chief operating officer and general counsel Michael Carter undermined shareholders and misled the board of directors in their handling of Dole’s privatized buyout, which closed in November 2013 in an all-cash deal valued at USD1.2 billion.
Mid-market private equity house LDC has exited its investment in oil and gas engineering business Bifold Group to Rotork.
Bifold is a designer, manufacturer and distributor of valves and pumps to the oil and gas sector with sites in Manchester and Taunton, as well as Houston and Singapore. The GBP125m transaction delivers a 2.4x money return for LDC.
In 2014, Bifold moved into new ‘state-of-the-art’ 30,000 sq ft manufacturing facilities in Oldham, Greater Manchester, to increase capacity and its technical capabilities. It completed the acquisition of Orange Instruments, which offers the business access to a range of specialist control system
MagicCube announced has raised USD2.2 million in a seed round of funding from Azure Capital, Epic Ventures, as well as Bialla Venture Partners and private investors.
MagicCube’s software-only technology secures digital transactions on any mobile device, independent of its hardware or operating system, stopping digital transaction fraud where most vulnerabilities can be found today – at the endpoint.
“Commerce is rapidly evolving and migrating to digital channels. As innovation continues to accelerate, the traditional approach of securing devices with hardware-based solutions has become impractical and costly for the entire ecosystem,” says Sam Shawki (pictured), CEO and co-founder of MagicCube.
A record 290 companies in Central and Eastern Europe received private equity and venture capital investment in 2014, as capital invested by funds across the region increased by 66 per cent on previous year to EUR1.3 billion.
That’s according to new data released by the European Private Equity and Venture Capital Association (EVCA), which reveals that fundraising increased in 2014 more than threefold to EUR1.5 billion and exits stood at EUR1.3 billion (measured at original cost), up 32 per cent on previous year.
The figures come from the Central and Eastern Europe (CEE) Statistics 2014 report, a 50-page paper
Tony Wang Has joined O’Melveney & Myers as a partner in the firm’s Newport Beach office.
Wang’s practice focuses on corporate and securities law, with an emphasis on private equity, venture capital, merger and acquisition, and Asia-related media and entertainment transactions. Having spent his legal career in Silicon Valley and Shanghai, Wang is experienced in transactions with US and Chinese companies, an invaluable asset in today’s global economy.
A versatile lawyer, Wang will work closely with O’Melveny’s China offices to serve technology, media, and telecommunications clients exploring the growing opportunities for cross-border business in that sector. He also has
Viola Private Equity is to invest up to USD28.4 million in Itamar Medical becoming the company’s largest shareholder. Viola intends to work closely with the company's management to accelerate growth and market expansion.
According to the investment agreement, Itamar Medical will issue shares to Viola Private Equity at the price of NIS 1.449 per share for consideration of USD24.1 million. In addition, Itamar Medical will issue to Viola Private Equity, for no additional consideration, non-tradable warrants for the acquisition of up to 50% of issued shares for an exercise price of NIS 1.642 to NIS 1.745 per share.
In
InfraVia Capital Partners (InfraVia), a French investment fund, has agreed to purchase Coillte’s portfolio of telecommunications assets for an undisclosed sum.
The portfolio consists of approximately 300 telecommunications masts and equipment locations across Coillte’s estate. A number of the masts were built by Coillte in recent years and certain locations include optical fibre connectivity. Ireland’s leading mobile network operators are the primary customers of the portfolio.
A new Irish based company which shall trade as “Cignal” has been formed to own and manage the business. Cignal will be chaired by Donal O’Shaughnessy who has extensive experience in the telecoms
The Isle of Man Government Treasury is seeking private investment managers for the island’s proposed Enterprise Development Fund. The closing date for Expressions of Interest will be 12pm Thursday 3 September.
This GBP50 million Enterprise Development Fund has been proposed to support job creation in the Isle of Man and grow the economy.
Private investment managers are required for the management and investment (including lending) of funds on a discretionary basis with a total market value spread across all of the classes of up to GBP50million in locally based businesses.
Benson Hill Biosystems has secured an investment of USD7.3 million in its Series A round of financing. The funding will be used to further advance its PSKbase, a computational and systems biology-based platform that helps technology developers and breeders identify promising strategies to increase genetic gain in crop plants.
The capital will also support additional field trials and other product development activities for traits that increase crop productivity by improving photosynthesis.
The financing was led by Middleland Capital, an agriculture-focused venture capital firm, with co-investors Mercury Fund, Prelude Ventures, Prolog Ventures, Alexandria Venture Investments, Cultivation Capital, and TechAccel. Existing investors Missouri
Cordium, a provider of regulatory compliance consulting, software, accounting and tax services to the asset management and securities industry, has appointed Lusine Moshkounian (pictured) as Vice President.
Moshkounian has over 17 years of experience in compliance and has joined Cordium as Vice President of its compliance consulting division in San Francisco.
Moshkounian’s role will see her helping investment managers successfully implement and maintain a comprehensive compliance program unique to each firm’s size, structure, and client base. Her clients include managers of hedge funds, private equity/venture capital funds, and other private funds as well as traditional investment advisers providing
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