VENTURE CAPITAL POST

Private equity firm TDR Capital will sell half of its entire stake in insurance company Phoenix Group for about GBP127 million. TDR will sell 18 million shares out of its total 35.9 million shares in Phoenix.

German medical supplies manufacturer Gerresheimer on Wednesday confirmed that it is no longer vying for UK-based Rexam's healthcare packaging unit. The company said the healthcare business did not fulfill its acquisition requirements.

Swiss banking group Credit Suisse has put up for sale its remaining limited partnership interests in leveraged buyout firm DLJ Merchant Banking Partners. British private equity firm Coller Capital will be acquiring the assets.

Portugal is raising EUR578 million (USD783 million) in the initial public offering of its postal service CTT-Correios de Portugal SA. The Portuguese government is divesting its 70% stake in the mail service.

Negotiations between GAIL India and UK-based Ophir Energy about a possible sale of the latter's stake in Tanzania gas assets are still ongoing. Ophir's earlier share sale deal with Pavilion Energy has been initially seen as a setback in the talks.

UK-based multinational publishing and education company Pearson reportedly agreed to buy Brazilian Grupo Multi for GBP440 million in a cash and debt assumption. Grupo Multi provides English language training to over 800,000 students in Brazil.

Stockholm-based private equity firm Cevian Capital on Monday announced its acquisition of 25 million A-shares in truck manufacturer Volvo. The purchase brought Cevian's ownership to 68.7 million A-shares and 29.8 million B-shares.

London-based private equity firm Montagu will be exiting from its Polish broadcast infrastructure firm Emitel. American investment firm Alinda Capital Partners reportedly agreed to buy Emitel in a deal that could be worth EUR840 million.

Servelec's initial public offering is said to be the largest technology listing in the UK in three years. The software and services company is expected to float 68.3 million shares worth GBP122 million on the London Stock Exchange.

UK-based advertising firm M&C Saatchi divested a controlling stake of 75.1% in Walker Media for GBP36 million. M&C Saatchi sold its holding to French multinational advertising and public relations company Publicis.

Just months after pulling out of a planned multi-billion dollar sale of his grocery chain, Hong Kong billionaire Li Ka-shing has started the process for Waston's initial public offering. The global retail business is set to float next year.

Mumbai-based realty major Lodha Group has bought a 0.67-acre property near the Buckingham Palace in London for over INR3,120 crore. The property will be converted into super-luxury residential flats.

German bank Deutsche Bank AG is reportedly negotiating the sale of Tilney Investment Management to British private equity firm Permira. Permira has beaten other rival bidders for Tilney, including Brown Shipley & Co.

According to a research study by Dow Jones & Company, Ireland attracted the most venture capital funding per capita in the European region. The data showed that most Irish tech startups have fared well even during the economic recession.

UK's Amec Plc is looking to acquire NASDAQ-listed Foster Wheeler AG. If the deal eventually pushes through, it could generate GBP5 billion (USD8 billion) for the Geneva-based engineering and power conglomerate.