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Emdeon Inc (NYSE: EM), a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, has entered into a definitive merger agreement with Blackstone Capital Partners VI LP under which this Blackstone fund will acquire a controlling interest in Emdeon in a transaction valued at approximately USD3 billion. The deal will result in Emdeon becoming a private company, while Hellman & Friedman will maintain a significant minority equity interest in the company.
Under the terms of the merger agreement, holders of Emdeon common stock will receive USD19.00 per share in cash. Emdeon’s Board of Directors has unanimously
Rating agencies have given the US the benefit of the doubt for too long and that the decision of S&P to downgrade it’s AAA rating “is a warning shot across the bows of US politicians," according to David Miller, partner at Cheviot Asset management…
S&P’s decision to downgrade its US debt rating is not entirely unexpected and could well be followed by further downgrades.
However, what must be remembered is that post-2008 many investors have developed their own credit rating systems and so are less reliant on rating agencies. Furthermore the Fed has already sent out reassuring messages to the banking
Tenex Capital Management, LLC (Tenex) has successfully closed Tenex Capital Partners, LP, a USD452 million private equity fund that makes control equity investments in middle market companies experiencing significant change in their markets, operations, or capital structure. Tenex’s fund exceeded the firm’s USD400 million fundraising target, as well as the fund’s "hard cap" of USD425 million.
"We are extremely pleased to have such a prominent and high quality group of limited partners committed to the fund and we are delighted with their support," says Michael Green (pictured), CEO and Managing Director of Tenex. "The Tenex investment philosophy, coupled with the current
The Blackstone Group will be investing INR 5,000 million (c. USD111 million) in VISA Power Limited (VPL), an independent power producer (IPP) whose core asset is a 1,200 MW captive-mine based, coal fired power plant in Chhattisgarh which is in an advanced stage of development.
VISA Power has a pipeline of a further 6,600 MW under development, including a 1,320 MW coal-based super critical power plant in Orissa, which is also in an advanced stage of development. The Company also proposes to develop power projects in Madhya Pradesh, Jharkhand and Gujarat. VISA Power is part of the INR50.0bn (USD1.1bn) VISA
Corporate law firm AZB & Partners continues to top the Venture Intelligence India League Tables as the Most Active Legal Advisor for both Private Equity and M&A deals – advising a total of 51 transactions – in the first six months of 2011. Ernst & Young topped the Most Active Transaction Advisor Table under Private Equity and Avendus Capital topped as the Most Active Transaction Advisor under M&A for the six months ended June 2011.
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions advised
Blackstone (NYSE: BX) has signed an agreement with Barclays Private Equity and Quadriga Capital to acquire German outdoor specialist Jack Wolfskin. The transaction is expected to close in August.
Dr Axel Herberg, Senior Managing Director, Blackstone says: “We have seen consistent growth in the outdoor market, and Jack Wolfskin has played a leading role in this. Management at Jack Wolfskin has proven its ability to build a strong brand, and we look forward to supporting further growth throughout Germany and internationally.”
Christian Brandt, Chief Finance Officer, Jack Wolfskin says: “We are pleased to have a long-term oriented and experienced strategic
Shareholders of Citadel Capital, a leading private equity firm in the Middle East and Africa, approved an EGP1.05 billion rights issue at par at an Extraordinary General Meeting held today in Cairo.
Shareholders voted to raise the firm’s capital to EGP4,358,125,000 from EGP 3,308,125,000 by issuing 210,000,000 new shares at a par value of EGP 5 per share. Newly issued shares include 157,500,000 common shares and 52,500,000 preferred shares. Shareholders will be invited to subscribe to the newly offered shares on a pro-rata basis.
Citadel Capital received approval from the Egyptian Financial Supervisory Authority (EFSA) on 13 July 2011
Craton Equity Partners, Southern California’s leading clean tech private equity fund, has led a USD60 million round in Series E financing for Bridgelux Inc, a leading developer and manufacturer of LED lighting technologies.
Existing financial and strategic investors also participated in the round, including VantagePoint Capital Partners, DCM, El Dorado Ventures, Novus Energy Partners, Invus Group, VTS, Harris & Harris Group and Passport Capital among others. Bridgelux will use the new funding to extend its leadership position in the solid state lighting market by accelerating research and development in key areas of strategic focus for the company, including GaN-on-Silicon development
Acquisitions of insolvent businesses in the UK have continued to fall in the first half of 2011, according to research by Experian Corpfin on behalf of the insolvency trade body R3.
The figures show that distressed deals now account for one in 19 of all mergers and acquisitions, compared to one in nine when activity peaked in 2009.
During the first half of 2011, 76 out of a total of 1,430 acquisitions (1 in 19) in the UK involved companies acquired out of administration or other formal insolvency procedures. This compares to 249 out of 3,139 acquisitions (1 in
Janrain, the leading provider of social identity management solutions for businesses, thas closed USD15.5 million in financing. Emergence Capital Partners led the round, and is joined by previous investors Anthem Venture Partners, DFJ Frontier, RPM Ventures, Tim Draper, and founder Larry Drebes with participation from Square 1 Bank.
The investment will be used to add resources and employees across all existing functional teams and further support the accelerated growth the company is experiencing.
Janrain provides SaaS solutions that help organisations increase acquisition and engagement with online users by leveraging the user’s social profile. These solutions, including social login, sharing
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