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EDF Energies Nouvelles Réparties (EDF ENR) has entered exclusive negotiations with Perceva Captial with a view to sell its majority controlling stake in Supra SA (listed on Eurolist Compartment C), whose main activity is the design, the manufacturing and the distribution of heating appliances, notably with wood. EDF ENR currently holds 81.3% of Supra SA’s capital.
Perceva Capital’s objective is to support Supra SA’s strategic plan, aimed at consolidating the company’s market leading position, both in France and for export, upheld by Supra SA’s management team.
Perceva Capital has offered to acquire 58% of Supra SA’s shares from EDF
Tom Winnifrith (pictured), manager of the SF t1ps Smaller Companies Gold Fund, has described the proposed US debt ceiling deal as a “pathetic compromise which will not convince anyone and which must cause US debt to lose its AAA rating very soon indeed". And he predicts that this will help drive gold to USD2100 oz before Obama faces re-election in November 2012…
Under the proposed deal the debt ceiling will now be increased to USD17.7 trillion from today’s USD14.3 trillion. In return Obama will work out how to cut spending by USD1 trillion over the next decade and in December
Alara Capital, formerly Guggenheim Venture Partners, which was an affiliate joint venture of Guggenheim Partners, LLC, has spun into a new private equity and venture capital firm unaffiliated with Guggenheim.
The entire GVP team has moved to Alara Capital including managing directors Mike Burns and Eric Rothfus, who will lead Alara’s operations.
“We are grateful to Guggenheim for helping us start our first fund and for the firm’s help with the spin out and launch of new funds as Alara,” says Rothfus.
“Guggenheim has enjoyed its association with Mike and his team and we look forward to Alara Capital’s future
Proskauer has expanded its global Private Investment Funds Group and London office with the addition of Nigel van Zyl, Kate Simpson and Oliver Rochman as Partners.
Van Zyl and Rochman will join the firm from SJ Berwin, and Simpson will join from Kirkland & Ellis. They bring deep experience in the full range of matters related to the establishment and operation of private investment funds, and related investments and transactions.
“Nigel, Kate and Oliver are a tremendous complement to our private investment fund capabilities in London and around the world,” says David W Tegeler, global co-head of Proskauer’s Private Investment
Monroe Capital, a private investment firm focused on investments in middle-market and lower-middle market companies, has expanded its origination staff with the addition of the following professionals – Thomas G Karle, Laura M Kraus, Cameron S Fleming, and Lori Potter.
Theodore L Koenig, President and Chief Executive Officer of Monroe Capital, says: "We are very excited and fortunate to expand our origination team with the addition of four experienced professionals to better serve middle-market businesses nation wide. Our additional originators will help us continue to deliver flexible and customised financing solutions to our clients. Monroe Capital is growing, and we
Bichot & Associes, the new corporate law firm dedicated to M&A/private equity, has advised NextStage on its joint investment in the Fillon group with two new managers (Jean-Christophe Doux and Sébastien Reinbold) and the current group’s CEO (Daniel Fillon), through an acquisition vehicle.
The acquisition, with financial leverage (lead of the senior facility: banque CIC Ouest), has been completed on 26 May 2011 for an undisclosed price.
Acting in Europe, China, US, India and South America, Fillon group is a world-wide leader in the conception, production and commercialisation of painting devices for coachbuilders, with more than 50% of market shares.
Aurora Russia has posted a circular convening a Requisitioned Extraordinary General Meeting (EGM) at 2.00pm on 24 August 2011 at the request of Timothy Slesinger.
Slesinger has proposed the removal of the Chairman, Dan Collinson Koch, and three other independent Directors, namely, Grant Cameron, John Richard Whittle and Alexandr Dumnov.
Slesinger has also proposed the appointment of Peregrine Moncreiffe and himself as new Directors.
These resolutions would result in the removal of four independent Directors and the appointment of two individuals who represent significant shareholders.
Slesinger holds in excess of 10 per cent of the capital of the Company while
Buried in the recent consultation paper on the Alternative Investment Fund Managers Directive (AIFMD) are stringent rules on pay that will have far reaching consequences for the asset management industry, say experts at PwC.
The rules, from the European Securities and Markets Authority, will affect alternative investment firms which escaped the FSA’s regulations on bank pay, including many private equity houses and hedge funds. They will also mean more onerous restrictions for those investment firms already caught by the FSA requirements, and could even hit some firms outside Europe.
The rules are in line with those introduced to other
Global private equity firm TA Associates has completed an investment in DNCA Finance SA, a French asset management firm with EUR5.8 billion in funds under management. Terms of the investment have not been disclosed.
TA Associates purchased its stake in DNCA from majority shareholder Gruppo Banca Leonardo, the pan-European, Milan-based investment bank. Following the transaction, the shareholder base is now comprised of TA Associates, who will become the largest shareholder, the incumbent management team and Gruppo Banca Leonardo. The management team, which will continue to be led by executive chairman Joseph Chatel and CEO and CIO Jean-Charles Mériaux, will increase
Vringo, a provider of software platforms for mobile social and video applications, has closed a private placement of convertible notes in the aggregate amount of USD2.5 million primarily to leading venture capital firms Benchmark Capital and DAG Ventures.
The convertible notes bear interest at the rate of 1.25% per annum and mature on January 1, 2012. Upon the closing of a subsequent financing by the company, the convertible notes will automatically convert into the same securities as the subsequent financing except that the conversion price for the convertible notes will be equal to the lower of: (i) today’s closing price
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