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Eurazeo’s net asset value stood at EUR57.2 per share at 30 September 2009, compared to EUR47.8 per share at 30 June 2009.
Eurazeo is the majority or leading shareholder in Accor, ANF, APCOA, B&B Hotels, Elis, Europcar and Rexel. Eurazeo is also the main shareholder of Danone.
Consolidated revenues for the third quarter were EUR1,062.6m, compared with EUR981.3m in the second quarter and EUR1,131m in the third quarter of 2009.
Excluding Europcar, consolidated revenues of the private equity business increased two per cent on a comparable basis. Total private equity revenues were EUR1,052.4m, a decrease of 4.4 per cent on
The Blackstone Group and Lion Capital have closed on the sale of the Orangina Schweppes Group to Suntory Holdings.
The closing follows receipt of a binding offer from Suntory to purchase Orangina and the completion of all the social, regulatory and legal requirements necessary for a sale.
Lion Capital and Blackstone have been majority investment partners in Orangina Schweppes since 2006.
Under their ownership and led by a largely new management team recruited by Blackstone and Lion Capital, Orangina Schweppes has achieved growth, both organically in its core countries and by expansion into new markets, as well as through strategic
Liberty Global has entered into a definitive agreement to acquire 100 per cent of the share capital of Unitymedia, Europe’s third largest broadband cable operator, from its sole shareholder Unitymedia S.C.A, Luxembourg.
The terms of the agreement imply a total equity value for Unitymedia of EUR2.0bn and an enterprise value of EUR3.5bn.
Closing is expected to take place in the first half of 2010, subject to the requisite regulatory approvals.
Parm Sandhu, chief executive officer of Unitymedia, says: “This transaction marks an exciting new phase in Unitymedia’s development and brings significant benefits to our customers, employees and other stakeholders. Unitymedia
A nanotechnology company based in the North East of the UK has entered into a joint venture with a Japanese company which could bring new investment and jobs to the region.
OJ-Bio is a joint venture between Newcastle based Orla Protein Technologies and Japanese electronics company Japan Radio.
The new venture will see a collaboration of biotechnology and electronic manufacturing expertise, aiming to develop and market breakthrough technologies in hand-held diagnostic equipment.
Orla’s development has been supported by a series of investments from NEL Capital, the venture capital division of regional fund management firm NEL Fund Managers, the
Mark Spinner, partner and Head of Private Equity at Eversheds, outlines his views on the news that Sweden will attach an annex dealing with the pay of private equity fund managers to the latest list of suggested amendments to the EU’s draft alternative investment funds legislation.
The suggestion emanating from Sweden that there needs to be tighter control on the pay of private equity executives illustrates the significant range of views on this subject across Europe at present.
In my view there is no need to regulate Private equity pay for a couple of reasons. First, the private equity industry
Venture capital firm Highland Capital Partners has launched its eighth fund, Highland Capital Partners VIII.
The new USD400m fund will continue to fuel the firm’s focus on early through growth stage investments in healthcare, internet & digital media and technology companies.
"We are very appreciative for the continued backing of our limited partners," says Bob Higgins (pictured), general partner at Highland. "We are pleased to raise a fund in this challenging environment that will allow us to continue to partner with the world’s best entrepreneurs and management teams in building high-growth and successful companies."
Since its inception, Highland has partnered
CDC Group has become the first development finance institution to make a private equity investment focused solely on Sierra Leone since the end of the country’s civil war in 2002.
CDC will commit USD5m to Sierra Investment Fund, which will invest in small and medium sized enterprises and start ups in the West African nation.
The fund is managed by locally based manager ManoCap.
Over the next few years, the fund hopes to invest between USD20m and USD30m in six to eight investments, with a deal size of between USD1m and USD5m. It will focus on firms that have
Just when you thought that the guards had at last wrested control of the asylum back from the inmates, here comes another proposed feature of the European Union’s proposed Directive on Alternative Investment Fund Managers that takes one’s breath away.
Not content with amendments that would all but bar non-EU funds from the European market, the Swedish presidency has announced plans to incorporate rules limiting the earnings of hedge fund managers and private equity partners similar to those mooted for bankers.
Why? Apparently the Swedes and other European governments have become convinced that in the same way that excessive remuneration
Meidlinger Partners’ new investment vehicle, Meidlinger Partners Sustainable Investments, has completed its first closing.
Limited partners committed USD4.25m to the round, and Benchmark Asset Managers, a founding investor, expects to add an additional USD10.75m toward the fund’s target size of USD100m.
The fund provides expansion capital to proven companies in the lower market with solutions to solve the world’s water, wastewater and energy problems.
Kevin Brophy, Meidlinger’s co-founder and chief executive, says: “The lower market is the sweet spot where operational, industrial and technical support can act as a catalyst to propel portfolio companies to the next level. Since January
Life Technologies has signed a definitive agreement to acquire BioTrove, a developer, manufacturer and marketer of instruments and consumables for genomic analysis, screening and molecular diagnostics.
Life Technologies is a biotechnology tools company. Both companies are based in the US.
Earlier, BioTrove raised venture capital funding from Catalyst Health Ventures, CB Healthcare Fund II, Vox Equity Partners, Fletcher Spaght Ventures, Excel Medical Fund, Biofrontier Partners, Zero Stage Capital and Echelon Ventures.
The acquisition will enhance Life Technologies’ strategic offerings in high growth PCR market.
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