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Electra Partners has agreed to sell its interest in feminine hygiene brand Lil-lets Group to Premier Foods, a South African manufacturer and distributor of fast moving consumer goods.
The transaction is subject to regulatory approvals in South Africa.
Allowing for the process of applying for regulatory approvals, on completion Electra Private Equity will receive gross proceeds of GBP37m. Based on the 31 March 2013 valuation of Lil-lets, this level of proceeds would imply a reduction in Electra's diluted NAV per share of 12p. This is explained by a weakening currency in South Africa.
Lil-lets is a branded
Amundi’s acquisition of Smith Breeden Associates has been finalised following completion of the customary conditions of informing regulatory authorities and gaining approval from certain clients and shareholders.
Smith Breeden Associates is now Amundi Smith Breeden.
Paris, France-based Amundi is a European asset management firm with close to EUR750bn in assets. Amundi Smith Breeden is the North American investment headquarters for Amundi.
The creation of Amundi Smith Breeden, a fully-owned and controlled subsidiary within Amundi’s fixed income organisation, is a significant step toward Amundi’s goal of creating a global fixed income platform with established regional expertise.
There
Belltown Alpha Renewables has completed the acquisition of a 10.2MWp solar project in Somerset and a 500kW wind project in Wales.
Belltown Alpha Renewables was formed in May 2013 as a joint venture between Belltown Power and Alpha Real Capital, which has committed an initial GBP50m to fund the acquisition and construction of 30MW of wind, solar PV, hydro and biomass assets in the UK.
“We are very pleased to have completed our first two transactions ahead of our business plan,” says Belltown Power chief executive Michael Kaplan. “The opportunity to build small and medium scale renewable energy
Private equity firm GTCR is to sell its portfolio company Six3 Systems to CACI International, a provider of information solutions and services to government customers, for USD820m.
Headquartered in McLean, Virginia, Six3 is a high-end national security and defence intelligence services provider focused on developing and acquiring specialised capabilities that cater to the intelligence community, Department of Defense and civilian security agencies.
Six3 was formed in July 2009 by industry veteran Bob Coleman in partnership with GTCR. Through a series of four acquisitions, Six3 has established a strong presence in the areas of intelligence surveillance and reconnaissance, intelligence
On 3 October over 170 professionals from the Dutch financial alternatives community came together to show their support for the fundraising initiative of the Alternatives 4 Children foundation.
During the third charity gala the foundation raised more than EUR108,000 (net of costs) for the year to support five charity projects all around the world.
This support will enable Alternatives 4 Children to contribute to the running costs of a number of small projects like the Edelweiss school in a slum in Bangalore, India and a project by Tiny Miracles in Mumbai.
“I am impressed with the efforts
Tenex Capital Management, a New York based private equity firm focused on middle market investments, is to acquire the machinery and tools business of Walter Meier of Switzerland.
Walter Meier Tools is a manufacturer and marketer of industrial and wood working machinery and equipment under the JET, Wilton and Powermatic brands. The company has operations in seven countries and sells in over 30 markets worldwide.
The transaction is expected to close by 31 October 2013.
Michael Green, chief executive of Tenex Capital Management, says: “In Walter Meier Tools, we have acquired a strong company with great brands
Versartis has completed a USD20m series D financing led by new investor Sofinnova Ventures.
Existing investors Advent Venture Partners’ Advent Life Sciences fund, Aisling Capital, Amunix Operating, Index Ventures and New Leaf Venture Partners all participated in this round.
As a result of its investment, general partner Srinivas Akkaraju will represent Sofinnova on the Versartis board of directors.
The proceeds from this financing will primarily be used to prepare for an international Phase 3 paediatric trial of VRS-317, the company’s proprietary long-acting recombinant human growth hormone (rhGH) for the treatment of growth hormone deficiency (GHD).
This
Sapient Global Markets has launched a suite of software and services to help companies meet the new requirements of the US Foreign Account Tax Compliance Act (FATCA).
Designed to help firms consolidate and streamline the labour-intensive back-office identification and reporting activities now required of US Withholding Agents (USWA) and Foreign (non-US) Financial Institutions (FFIs) under FATCA, Sapient Global Markets’ new offerings provide business consulting around systems and processes. Specifically, engineered technology solutions will reduce the burden on firms needing to identify, report and withhold against relevant customer accounts and transactions.
“The first priority for any FATCA compliance project
Ardian (formerly AXA Private Equity) is teaming up with Laboratoires Anios chief executive Bertrand Letartre and deputy chief executive Thierry Letartre to acquire a majority stake in the business from Air Liquide.
Laboratoires Anios is one of the European leaders in disinfection solutions for hospitals and clinics. The transaction reflects Ardian’s willingness to support Bertrand and Thierry Letartre in their growth strategy for the business.
The proposed transaction remains subject to the signing of a definitive agreement and approvals by the French antitrust authorities and the works council bodies of Laboratoires Anios.
Based in the outskirts of
Despite encouraging comments by the IMF, Bank of England Governor, Carney, is right to be cautious about the ‘sugar rush’ recovery so far, and keep all his stimulus options on the table, argues Neil Williams (pictured), Chief Economist for Hermes’ Global Government & Inflation Bonds…
While the UK’s 0.7%qoq on Q2 GDP was its best for over two years and the G7’s joint fastest after Japan (0.9%), the UK still has the lowest base to spring back from.
Markets are so far giving the Monetary Policy Committee (MPC) the benefit of the doubt that inflation-control remains a primary aim,
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