VCJ Staff
Riverstone Holdings has agreed to acquire a majority stake in Dresser Inc., a Dallas-based manufacturer and marketer of products and services for energy industry and infrastructure applications. The selling shareholders are First Reserve and Odyssey Investment Partners, although First Reserve will buy back a minority position as a partner in the Riverstone consortium
Royal Philips Electronics has agreed to sell 16.2% position in Taiwan Semiconductor Manufacturing, according to a joint statement from the two companies. The position is valued at approximately $8.5 billion. Under terms of the agreement, Philips this year will sell $1.75 billion in shares on the Taiwan Stock Exchange, and another $2.5 billion on the […]
Strategic Hotels & Resorts (NYSE: BEE) reportedly is being circled by private equity firms like Blackstone Group, Carlyle Group and Walton Street Capital. The deal's equity likely would be valued at around $2 billion. www.shci.com
Cowen Capital Partners has sold its majority position in Concord, Ohio-based drug development services provider Ricerca Biosciences for around $50 million to a pair of other private equity firms, according to LBO Wire. No additional details were disclosed. www.ricerca.com
GIMV has acquired a majority stake in Prolyte, a Dutch maker of movable aluminum constructions for the entertainment and exhibition industry. No financial terms were disclosed. www.gimv.be www.prolyte.com
Centerbridge Partners is the latest private equity firm to express interest in acquiring Chrysler, according to The Detroit News. peHUB has since confirmed the news with a source close to Centerbridge.
Crestview Partners has acquired Key Safety Systems Inc. (f.k.a. Breed Technologies), a Sterling Heights, Mich.
TI Automotive has completed the sale of its Industrial Group businesses — Bundy Refrigeration, Walbro Engine Management and VARI-FORM
Summit Partners has agreed to acquire an 85% stake in Life of the South Corp., a Jacksonville, Fla.-based provider and administrator of payment protection products. Senior company management will retain approximately 15% of the company. No financial terms were disclosed. www.summitpartners.com www.life-south.com
Direct General Corp. (Nasdaq: DRCT) shareholders have voted to approve a $21.25 per share buyout by Calera Capital (f.k.a. Fremont Partners) and TPG. The total transaction price is $628.2 million (including leverage). Direct General is a Nashville, Tenn.-based insurance company. www.direct-general.com