Carlyle Group LP is partnering with Tullow Oil Plc former CEO Aidan Heavey and ex-CFO Tom Hickey to form a venture that will target up to $1 billion of acquisitions in sub-Saharan Africa.
Japan's Hitachi Ltd has narrowed suitors for its $6.8 billion chemical unit to a handful of companies including Bain Capital, Japan Industrial Partners and Nitto Denko Corp, four people with knowledge of the deal said. Shortlisted bidders for Hitachi Chemical Co also include U.S. private equity fund Carlyle Group L.P., three of the people said. Bain, the U.S. buyout fund, is teaming up with Tokyo-based private equity firm Japan Industrial Partners, the three said.
US middle market lenders are optimistic that post-Labor Day dealflow will be steady and could likely accelerate heading into the fourth quarter. Undeterred by the early August volatility that briefly set wider financial markets ablaze, prompting many economic observers to brace for an imminent recession, middle market participants are taking a more balanced view. “Usually deal activity post-Labor Day and heading into the 4Q does pick up, and we are encouraged by our pipeline,” said Michael Ewald, global head of private credit at Bain Capital Credit.
IBD Stock of the Day Carlyle Group taps a hot stock market trend and boasts a solid profit outlook. CG stock is eyeing a buy point.
Carlyle Group LP emulated its peers on Wednesday with plans to convert from a publicly traded partnership into a corporation, and went one step further by announcing it will become the first U.S. private equity firm to hold shareholder votes. Insiders own 66% of Carlyle, and the vast majority of them have committed to voting their shares as a block for up to five years, the firm said. The move could end up boosting Carlyle's valuation, because it will allow its inclusion in indices that exclude publicly traded partnerships.
An unprecedented bidding war has erupted over German lighting group Osram
Osram is likely on Wednesday to waive an agreement that currently prevents AMS from making a takeover bid for the German lighting group, paving the way for AMS to take on an offer from private equity investors, sources told Reuters. Osram shares, which have been hit by profit warnings, doubts over its strategy and a weak car market, rose as much as 3.8% to a five month-high of 36.50 euros.
TROY, Mich., July 29, 2019 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today announced that it has successfully completed its acquisition of AxleTech from global investment firm The Carlyle Group (CG). The previously announced transaction enhances Meritor's growth platform with the addition of a complementary product portfolio, including a full line of independent suspensions, axles, braking solutions and drivetrain components. AxleTech will operate within Meritor's Aftermarket, Industrial & Trailer segment.
Insiders own 66% of Carlyle, and the vast majority of them have committed to voting their shares as a block for up to five years, the firm said. The move could end up boosting Carlyle's valuation, because it will allow its inclusion in indices that exclude publicly traded partnerships. Carlyle may also be included in more indices than its peers, such as the Russell and the S&P, because it will be the first publicly traded private equity firm to abolish its dual-class shares.
The Carlyle Group (NASDAQ: CG ) announces its next round of earnings this Wednesday, July 31. Here is Benzinga's everything-that-matters guide for this Wednesday's Q2 earnings announcement. Earnings and ...
The fourth-biggest U.S. private-equity firm says second-quarter net income tumbles 24% to $514.4 million, as investment income slides. That's a smaller decline than the 58% drop reported for the period by KKR's larger rival, Blackstone.
Tech specialists Raghav Maliah and Jung Min have been appointed co-heads of Goldman Sachs' mergers and acquisitions in Asia Pacific excluding Japan as former head John Kim moves to global private equity giant Carlyle Group. Kim, a 19-year veteran of the bank's Asia business, joins Carlyle as a managing director of its Asian buyout team, and will lead its activities in Korea, according to a press release from the private equity group. Goldman told staff that Kim was retiring from the bank and praised his role as a "trusted advisor to many of our clients" and his involvement in several industry-leading transactions, according to an internal memo seen by Reuters.
Osram will most likely waive an agreement that currently prevents AMS from making a takeover bid, paving the way for the Austrian group to enter the ring against finance investors Bain Capital and Carlyle Group, sources told Reuters. AMS plans to buy Osram in a deal that would value the bigger group at 4.3 billion euros ($4.8 billion), trumping a competing bid by Bain and Carlyle. To be able to do so, Osram must waive a standstill agreement.
The private-equity firm says the conversion will allow investors to buy its shares without creating the need for a Schedule K-1, an Internal Revenue Service tax form that's used to report earnings from partnerships.
Austrian sensor maker AMS
Austrian sensor specialist AMS made a 4.3 billion euro ($4.8 billion) counter-offer for larger German lighting group Osram on Tuesday, raising the prospect of a bidding war with private equity duo Bain Capital and Carlyle. AMS made its 38.50 euro (£34.95) per share offer for Osram, which is 10% above the price offered by the buyout firms, after approval from German finance watchdog Bafin, adding that the acceptance period will run from Sept. 3 until Oct. 1. The bid automatically extends the period for the offer by Bain Capital and Carlyle Group.
Osram said on Monday it would consider a takeover by Austrian sensor maker AMS that trumps a competing bid by Bain and Carlyle with a cash offer valuing the German lighting group at 4.3 billion euros ($4.8 billion). AMS said it could create a global heavyweight in sensors and photonics with the acquisition of Osram, a leader in automotive lighting technology whose share price has been depressed by profit warnings, doubts over its strategy and a weak car market. Osram called AMS's financing plan "binding and viable".