wpengine
Tenaska Power Fund and Warburg Pincus have completed their acquisition of three electric generation stations from Dominion Resources Inc. (NYSE: D). No financial terms were disclosed. The three plants include the: 625-megawatt (MW) Armstrong plant in Armstrong County, Pa.; 313-MW Pleasants plant in Pleasants County, W.Va.; and the 600-MW Troy plant in Wood County, Ohio.
ABB Asea Brown Boveri Ltd. (NYSE: ABB) has sold its Power Lines Components manufacturing businesses in Monterrey, Mexico and Belo Horizonte, Brazil to ACON Investments and former business managers. No financial terms were disclosed. Under ACON
Ripplewood Holdings LLC has completed its public-to-private buyout of The Readers' Digest Association Inc. (NYSE: RDA) for $17 per share. The total deal was valued at $2.4 billion, with other members of the buying consortium including J. Rothschild Group, GoldenTree Asset Management, GSO Capital Partners, Merrill Lynch Capital and Magnetar Capital. Leverage was provided by […]
TA Associates has sold its stake in Drive Asset UK Ltd. to Charterhouse Capital Partners for $500 million. Drive Asset is a Staffordshire, UK-based provider of replacement vehicles, and received its investment from TA in 2003. www.driveassist.co.uk
Harrah's Entertainment (NYSE: HET) has set April 5 for a shareholder vote on a proposed $17.1 billion buyout by Apollo Management and Texas Pacific Group.
Claire's Stores Inc. (NYSE: CLE) buyout bids are due this Wednesday, but the NY Post reports that most bidders have already taken a pass. The only remaining interest reportedly comes from Apax Partners, which may be working with Apollo Management.
Apollo Management has agreed to acquire Smart & Final Inc. (NYSE: SMF) for $22 per share. The total deal is valued at approximately $813 million. Smart & Final is a Los Angeles-based operator of non-membership warehouse stores for food and foodservice supplies. It was advised on the transaction by Goldman Sachs. www.smartandfinal.com
Weyerhaeuser Co. (NYSE: WY) said that it is in final negotiation to sell its Canadian wholesale building products distribution centers to Platinum Equity. The deal is expected to close next quarter. www.weyerhaeuser.com
Duke Street Capital is the lead bidder for UK-based Burton's Foods, according to The Times of London. The deal is expected to net Gbp200 million, with Irish snack food group Jacob Fruitfield as the only other remaining bidder. A final decision could come later today.
Applebee's International Inc. (Nasdaq:APPB) has retained Citigroup and Banc of America Securities to help explore strategic alternatives, including a possible recapitalization of sale of the company. The Overland Park, Kan.-based company franchises and operates nearly 2,000 restaurants under the Applebee's Neighborhood Grill & Bar brand. www.applebees.com