VCJ Staff
Silver Lake Partners and Texas Pacific Group have agreed to reduce the breakup fee on their proposed $5 billion acquisition of travel reservations company Sabre Holdings (NYSE: TSG), from $135 million to $80 million. The move comes following Sabre's settlement with shareholders who had filed suit over the proposed merger. www.sabre.com
Monomoy Capital Partners has received U.S. Bankruptcy Court approval for its acquisition of The Anchor Hocking Co., a Lancaster, Ohio
Charterhouse Capital Partners has agreed to acquire Germany-based utility metering company Ista International from CVC Capital Partners, for Euro 2.4 billion. The deal is expected to close in May.
TPG has agreed to acquire the Surgery Division of HealthSouth Corp. (NYSE: HLS), a network of 139 outpatient surgery centers and three surgical hospitals in 35 states that provide surgical services to physicians and their patients. The deal is valued at approximately $945 million, including a $920 million purchase price and an equity interest whereby […]
Telecom New Zealand Ltd. has agreed to sell its Yellow Pages unit for NZ$2.24 billion (approx. US$1.6 billion) to CCMP Asia and Teachers' Private Capital. An alternate offer reportedly had been made by KKR and Seven Network Ltd. of Australia. www.telecom.co.nz
JLL Partners has agreed to acquire UK-based aerospace components and servicing company Mckechnie Aerospace Holdings Ltd. from Melrose PLC for Gbp434.92 million (including Gbp2.85 million in assumed debt). Mckechnie www.mckechnieaerospace.com
Apax Partners has agreed to acquire a 49.9% stake in UK car listings publisher Trader Media from Guardian Media Group for an enterprise value of Gbp1.35 billion. Other bidders reportedly included The Blackstone Group and Cinven.
Royal Ahold is expected to receive at least three bids for its U.S. Foodservice unit, according to The Deal. Bids are due next month with an estimated price-tag of around $5.5 billion. Groups include Clayton Dubilier with KKR; Bain Capital, Blackstone Group and Wellspring Capital Management; and Madison Dearborn with GTCR Golder Rauner.
Sun Capital Partners has agreed to acquire Morristown, Tenn.-based furniture maker Berkline/BenchCraft Holdings Inc. from Code Hennessy & Simmons. The company announced last week that it had agreed to a $40 million recap and $40 million in new financing, with LBO Wire this morning disclosing the buyer. www.berkline.com
Spire Capital has acquired SalvageSale Inc., a Houston, Texas-based online marketplace and services provider for commercial insurance salvage and corporate end-of-life assets. The deal was done in partnership with company management, while sellers included Securitas Ventures, American Re and Merrill Lynch Ventures. Stifel Nicolaus served as financial advisor to SalvageSale. www.spirecapital.com www.salvagesale.com