VENTURE CAPITAL POST

UK engineering solutions provider Costain Group Plc exited its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc to raise investment funds and working capital.

The revival of initial public offerings in the US and Europe which started this year is set to continue next year, the Financial Times reported.

Glasgow, Scotland-based growth equity and venture capital firm Scottish Equity Partners (SEP) said it will boost its total portfolio investment from £40 million last year to £60 million this year.

Japanese insurance firm Sompo Japan Insurance Inc will acquire private British company Canopius in a deal valued at $970 million to expand its overseas operations, according to a report.

UK-based virtual fitting room firm Metail has received £2.6 million in additional funding as it prepares to move into a new headquarters in East London.

Insurance Australia Group Ltd (IAG) bought the Australian and New Zealand underwriting business of Western Australia's farmers' cooperative Wesfarmers Ltd for $1.845 billion.

London-based leveraged buyout firm CVC Capital Partners Ltd told investors it plans to exit its remaining stake in North American travel chain Pilot Travel Centers LLC.

US-based professional technical services provider Jacobs Engineering Group Inc announced the completion of its merger with Australia-based firm Sinclair Knight Merz in a deal valued at AU$1.3 billion.

UK-based lender Lloyds Banking Group PLC is offloading its remaining 21% stake in the investment firm St. James's Place for GBP95 million after progressively selling its stake down.

St. Martins Group, Kuwait's property investment vehicle in the UK, has paid around GBP1.7 billion to purchase the More London complex which includes Mayor Boris Johnson's headquarters.

Venn Life Sciences has purchased Belfast, Ireland-based clinical research organization Medevol Limited in a deal valued at USD0.67 million, to strengthen Venn's operations in the UK.

Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.

UK-based investor Utilico Investments has reduced its stake in New Zealand-based energy business operator Infratil through the company's buyback program and a share sale on the market.

UK-based mobile game maker King has delayed its initial public offering (IPO) until 2014 amid fears that its flagship game, Candy Crush Saga, is just a "one hit wonder," said UK-based newspaper.

The Belfast Telegraph said in a report that Ministry of Defence Secretary Philip Hammond will be left working out other options after plans for purchasing military equipment via a private consortium had failed.