VCJ Staff

First Reserve Corp. has completed its acquisition of scaffolding services provider Brand Energy & Infrastructure Services from JPMorgan Partners. No financial terms were disclosed for the deal, which came four years after JPMorgan Partners beat out First Reserve to buy the company from DLJ Merchant Banking for around $500 million. Brand Energy is expected to […]

Bain Capital has agreed to acquire listed South African retailer Edgars Consolidated Stores Ltd. (Edcon) for approximately $3.5 billion. The deal is still subject to shareholder and regulatory approvals, and would represent a 51.3% premium to Edcon's closing price on October 16, which is when the company disclosed discussions with private equity firms. If completed, […]

Cerberus Capital Management has agreed to acquire seven television stations from CBS Corp. (NYSE: CBS) for $185 million. The deal includes stations in Austin, Salt Lake City, Providence and West Palm Beach, and is subject to FCC approval. Cerberus was advised on the deal by CobbCorp and Wachovia Capital Markets. www.cerberuscapital.com www.cbscorporation.com

Goldman Sachs and Sanyo Electric have agreed to sell their combined 50% stake in Japanese lender Sanyo Electric Credit Co. to G.E. Capital for approximately $372 million, according to Reuters. Other interested bidders had been reported to include Shinsei Bank.

CCMP Capital Asia, Permira and Texas Pacific Group are prepping bids to acquire a majority stake in consumer electronics company Victor Co. of Japan (VCJ) from Matsushita Electric Industrial, according to the Wall Street Journal.

Creo Capital Partners has acquired a majority stake in Lintelle Engineering Inc., a Scotts Valley, Calif.-based design, engineering and manufacturing firm. No financial terms were disclosed, except that Lintelle founder Bill Turner will retain a “significant minority” stake. www.creocapitalpartners.com

General Atlantic has withdrawn a $36 per share buyout offer for EGL Inc. (Nasdaq: EAGL), a Houston

Apollo Management has completed its $12.50 per share acquisition of Jacuzzi Brands Inc. (NYSE: JJZ). The total transaction was valued at $1.25 billion, including the assumption of $260 million in outstanding debt. Lazard Fr

Texas Pacific Group reportedly has joined the CVC-led consortium that is circling British supermarket chain J. Sainsbury PLC. Blackstone and KKR already are part of the group, which is expected to bid upwards of

Vornado Realty Trust this morning dropped its bid for Equity Office, just as shareholders were expected to vote on a rival offer from The Blackstone Group. This makes Blackstone the likely winner of what would be the largest-ever buyout at approximately $39 billion.