A new tax change in France could change the debt-equity balance in the wake of difficulties caused by large LBOs.
3 min read · 08 February 2013
Mega-firms with dry powder are breaking the LBO mould to get deals done, writes Toby Mitchenall.
4 min read · 08 February 2013
The troubled mid-market lender CIT Group has received a $3bn rescue package from a group of its bondholders that will prevent it from collapse, at least for the short term.
2 min read · 08 February 2013
Due to its proliferation of leveraged buyout activity during the credit boom era, the UK is home to more distressed assets than any other European country, according to Close Brothers Corporate Finance.
2 min read · 08 February 2013
The construction and infrastructure development company has achieved financial close on the Carlisle Northern Development Route PPP in the north of England. Balfour Beatty is set to invest £11 million of equity in the project.
1 min read · 08 February 2013
The infrastructure investor has increased its indirect stake in the UK water utility, investing £23.9m for an additional 1.3% interest in the company. In its interim management statement, the company said the infrastructure investment space remains attractive.
2 min read · 08 February 2013
The Association of Real Estate Funds (AREF), which represents UK unlisted vehicles, and the Property Industry Alliance (PIA), made up of various UK property associations, have fired off letters to the Treasury in London and the UK’s Financial Services Authority amid concerns about a European Union draft directive that has huge implications for private equity real estate funds operating in Europe.
3 min read · 08 February 2013
The loan to the $1.2bn Triangle Expressway project is being extended under the government’s TIFIA credit programme. The remaining financing will include $271m of toll revenue bonds and $343m of ‘Build America Bonds’ authorised by the economic stimulus bill.
3 min read · 08 February 2013
The former president of JER Partners in Europe has joined private property investment company Three Delta, which attempted to acquire Sainsbury’s supermarket group in the UK two years ago.
1 min read · 08 February 2013
Guy Hands’ firm is in discussions with Citi about restructuring the $5.5bn debt burden weighing on EMI. The music group – home to such stars as Coldplay and REM – accounts for 30% of Terra Firma’s two latest buyout funds.
2 min read · 08 February 2013
