Schaeffler AG said in a statement that the sale of its combined 4% stake in Continental AG with holding company Schaeffler Verwaltungs GmbH would be used to repay borrowings made to takeover Continental.
Deals
Perceva infuses recapitalization funds into Monceau Fleurs Group
French investor Perceva would take over Monceau Fleurs Group through recapitalization. Independent turnaround investor based in France Perceva had announced it would be taking over the Monceau Fleurs Group.
Penthouse publisher files for Chapter 11 protection
The publisher of Penthouse magazine, FriendFinder Networks, filed for Chapter 11 bankruptcy. FriendFinder Networks filed for bankruptcy under Chapter 11.
Morgan Creek entices clients with new hedged mutual fund
Morgan Creek Capital Management opened a new class of fund called Morgan Creek Tactical Allocation to allow retail investors access to exclusive investment portfolios.
Maurel & Prom's CEO says company is considering a London listing
In an interview with Reuters, Maurel & Prom CEO Jean-Francois Henin said his company was mulling a secondary listing in London.
Latest News
Soros and Golmand Sachs-backed Essent Group Ltd. filed for an initial public offering yesterday valued USD287.5 million.
Yesterday, Post Holdings Inc. said that it had agreed to acquire Dakota Growers Pasta Co in a deal priced at USD370 million.
Britain announced that it would sell its stake in Lloyds Banking Group priced at least GBP0.50 a share.
Hudson's Bay Co. announced naming Marigay McKee to be the president of the US luxury retailer Saks Inc. after the acquisition deal was completed.
Blackstone Group LP decided to sell its shares in hotel chains following the increased sales of hotel properties in the US this year.
After completion of the Cyprus review, IMF released another USD113 million for the bailout of the country.
In a USD12.55 per share purchase, Boise Inc would serve to increase the capacity of the Packaging Corp of America.
Deerfield announced today funding of a credit facility for Imris Inc. valued USD25 million. Deerfield operates as a leading investment management firm.
RiverPark Advisors launch a new open-ended mutual fund which was a conversion of hedge fund Wavecrest Partners Fund I launched on September 2008.
