VCJ Staff
The Carlyle Group has received shareholder approval for its proposed $5.76 per share buyout of organic residuals recycler Synagro Technologies Inc. (Nasdaq: SYGR). The total deal is valued at $772 million, including the assumption of $310 million in debt. Lehman Brothers managed the auction. www.carlyle.com www.synagro.com
KKR has held talks with Bell Canada owner BCE about a possible takeover, according to The Globe & Mail. BCE is valued at approximately Cnd$24.3 billion (US$20 billion). www.kkr.com www.bce.com
Veronis Suhler Stevenson has agreed to acquire New York-based media company Advanstar Communications Inc. from DLJ Merchant Banking Partners for $1.142 billion. VSS is being joined by co-sponsors Citigroup Private Equity and New York Life Capital Partners. DLJ acquired Advanstar in 2000 from Hellman & Friedman for approximately $900 million. www.advanstar.com
Titan Petrochemicals Group, an oil logistics company listed in Hong Kong, has raised $175 million in PIPE funding from Warburg Pincus. The two-part deal includes an immediate $75 million investment in exchange for a 9.9% ownership position and one board seat. The stake could rise to 22% if it converts its preferred shares and exercises […]
Aurora Capital Group is nearing an agreement to acquire Mitchell International Inc. from Hellman & Friedman for more than $500 million. GE Pension Trust would participate alongside Aurora, while Goldman Sachs is arranging around $320 million in debt. Mitchell is a San Diego-based provider of insurance claims processing software, and was acquired by H&F in […]
Roark Capital Group has acquired a majority interest in CyberCore Technologies, a Baltimore, Md.-based provider of IT services to federal government like the Department of Homeland Security and the Defense Logistics Agency. No financial terms were disclosed. www.roarkcapital.com www.cybercoretech.com
Cerberus Capital Management has agreed to acquire the assets of Tower Automotive (OTC BB: TWRAQ) out of bankruptcy for approximately $1 billion. Tower Automotive is a Novi, Mich.
The Carlyle Group has agreed to acquire a 49% stake in China's Yangzhou Chengde Steel Tube Share Co. from Jiangsu Chengde Steel Tube Share Co., according to Dow Jones. No financial terms were reported. www.carlyle.com
The Blackstone Group is a likely bidder for Australian television broadcaster TEN Network Holdings Ltd., according to the Sydney Morning Herald.
Circuit City Stores Inc. (NYSE: CC) said that has retained Goldman Sachs to explore strategic options for Canadian unit InterTAN Inc., which comprises around 800 stores. The company also said that it plans to lay off 3,400 employees throughout its chain, and will replace them with lower-paid workers. www.circuitcity.com