Blackstone related stories
All articles and analysis
BC club wins battle for Turkish retailerThe BC Partners-led consortium has pulled off its YTL3.9 billion bid for Migros Türk in the face of strong competition including The Blackstone Group and Kohlberg Kravis Roberts. It is Europe’s largest deal since credit markets seized up.
- Alliance Data abandons Blackstone lawsuit
Alliance Data Systems has dropped its case against Blackstone less than two weeks after suing the private equity firm to force an agreed $7.8 billion buyout.
- KKR targets $30bn for buyouts globally
The firm is among several seeking to stock up with fresh capital amid a turbulent market.
- Blackstone enters pole position in Close bidding
The US investment firm is the most prominent interested party in the bidding for UK investment bank Close Brothers and it is reportedly lining up a quick sale of the bank’s assets upon acquisition.
- Financial sponsors table low-ball Migros bids
The private equity firms bidding for the Turkish supermarket have tabled lower than expected bids, although should the deal complete it will be one of the largest European buyout financed since the problems in the credit markets became apparent.
- Flowers off hook, Blackstone may abandon Alliance
US student lender Sallie Mae will accept a $30 billion refinancing in lieu of a JC Flowers-led buyout. Meanwhile, Blackstone has told Alliance Data it does not think the company can meet closing conditions for a $6.43 billion acquisition.
- Teachers’ may drop C$52bn BCE buyout
Should courts rule that BCE’s purchasing consortium must buy out the telecom’s disgruntled bondholders, Ontario Teachers’ has said the largest LBO agreed to date may fail.
- GSO scraps $1.1bn Reddy Ice deal
GSO Capital Partners, newly part of The Blackstone Group, has agreed to pay a $21 million breakup fee to Reddy Ice after credit market conditions gave GSO’s lenders cold feet.
- PE stocks keep tumbling in US
Shares in Blackstone and Fortress hit new lows today following analyst downgrades, while American Capital announced a $500m programme to repurchase shares trading below net asset value.
- ADS files suit to force Blackstone buyout
Alliance Data Systems has sued the private equity firm, which previously indicated it would drop the $7.8 billion deal due to regulatory requirements that are ‘unprecedented and unacceptable’.