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Oremex Resources, a Canadian-based exploration company, has proposed a private placement of units at a price of CAD0.09 per unit, for gross proceeds of approximately CAD1,700,000.
Each unit will be comprised of one share of the company and one-half of one share purchase warrant.
Each whole warrant will be exercisable to purchase one share of the company, at a price of CAD0.14 per share, for a period of two years from the date of issuance.
Sprott Asset Management, on behalf of certain funds and managed accounts, has indicated its intention to participate in the private placement.
"Sprott Asset Management is
Growth equity firm General Atlantic has agreed to invest USD163m to acquire a 19 per cent stake in SouFun Holdings at its IPO price from Telstra, the selling shareholder.
GA will be partnering with Apax Partners, which will invest an equal amount on the same terms.
SouFun is the largest online real estate portal in China and became an NYSE-listed company on 17 September.
Jeff Leng, managing director at General Atlantic, will be joining SouFun’s board of directors.
Vincent Mo, founder and chairman of SouFun, says: “We are very happy that SouFun has become a NYSE-listed company and has
French defence electronics maker Safran is to acquire L-1 Identity Solutions, a US company that protects personal identities and assets, in a merger transaction providing for stockholders to receive USD12.00 per share in cash, for an aggregate enterprise value of approximately USD1.6bn inclusive of outstanding debt.
Lutetia Capital, a merger arbitrage hedge fund, has L1 as its largest position.
The per share consideration of USD12.00 incorporates the purchase price to be received pursuant to the sale of the L-1 intelligence services businesses.
The per share price represents a premium of 24 per cent over L-1’s closing stock price on the
Sovereign Capital, the UK private equity firm, has acquired Christchurch Court, a provider of residential care for adults with an acquired brain injury.
Established in 1997, Christchurch Court operates from homes in a community setting in Northampton, providing long-term, high acuity care to its residents.
An estimated 135,000 people are admitted to a hospital each year as a consequence of a brain injury in the UK, often due to road traffic accidents and assaults.
Christchurch Court receives referrals from acute neuro-rehabilitation wards around the country, personal injury solicitors and families.
Sovereign is backing an operating team led
Catterton Partners, a consumer-focused private equity firm in North America, has sold a controlling stake in its portfolio company Heartland Recreational Vehicles, a manufacturer of towable recreational vehicles, to Thor Industries for a total consideration in excess of USD200m in cash and stock.
Since partnering with the Heartland founders in early 2007, Catterton has worked with the Heartland management team to enable the company to become the fourth largest manufacturer of towable recreational vehicles in the US, up from the 12th position at the time of its investment.
Over this period, Heartland has quadrupled its sales, earnings and market share
Yorkville Advisors, the US based alternative investment manager, has entered on behalf of one of its funds into a debt facility of USD1.2m with AIM-listed Red Rock Resources, a gold mining and exploration company.
This latest debt facility represents the third debt financing for Red Rock Resource.
From the provision in April 2009 of the initial standby equity distribution agreement transaction with Red Rock Resource, Yorkville has subsequently provided three debt facilities to the company of GBP400,000 in Oct 2009, USD1.6m in March 2010 and now this latest USD1.2m debt facility.
Brian Kinane, managing director of Yorkville Advisors UK,
Investment funds advised by CVC Capital Partners are to acquire TDC’s Swiss subsidiary Sunrise Communications.
The transaction values Sunrise, a privately held telecommunications provider, at an enterprise value of CHF3.3bn.
TDC, a provider of communications solutions in Denmark, held Sunrise for nearly ten years.
The completion of this transaction is expected to occur in the fourth quarter of 2010, once approvals have been obtained from the Swiss competition and relevant regulatory authorities.
Henrik Poulsen (pictured), TDC chief executive, says: “"Sunrise has gone through a very positive development in recent years. This is reflected in the deal we
Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and alternative investment management firms, has surpassed 30 applications in its hosted infrastructure.
Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and alternative investment management firms, has surpassed 30 applications in its hosted infrastructure.
The company has also been named a recommended hosting provider for Convergex Group’s Eze OMS, an order management system.
Eze Cloud was custom built for the alternative investment market and has supported more than 30 critical business applications, including Eze OMS.
As a recommended infrastructure provider
DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.
DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.
The lenders are HSBC Bank, Lloyds Banking Group, Clydesdale Bank, Commerzbank Aktiengesellschaft, IKB Deutsche Industriebank and Société Générale (London branch).
Completion of the acquisition is conditional on approval from Germany’s Federal Cartel
Channel Islands law firm Carey Olsen has appointed James Mulholland as a partner.
Mulholland will be working in Carey Olsen’s Jersey and London offices in the corporate and funds practice areas.
He most recently worked at O’Melveny & Myers in London for five years where he advised on an extensive range of corporate and private equity-related transactions, including fund formation, spin outs, fund restructurings, capital markets and mergers and acquisitions.
He previously worked at Slaughter and May, where he advised on both corporate and investment fund transactions.
Mulholland says: “I have known and worked with Carey Olsen for some time
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