Deal roundup 3.18.15

  • Denham Capital and Thesis Energy have partnered to form Thesis Energy Holdings Ltd, a platform to pursue opportunities in European power generation, PE HUB reported. Financial terms weren’t announced. London-based Thesis will buy and actively manage large-scale gas, coal and biomass-fired power generation and cogeneration assets across Western Europe.
  • Pet retailer Kriser’s Natural Pet has secured an undisclosed amount of funding, PE HUB reported. River Hollow Partners led the round with participation from other investors that included Quadrant Capital Advisors and Alliance Consumer Growth. Meadow Lane Capital LLC provided financial advice to Kriser’s on the transaction.
  • Natural resources conglomerate Freeport-McMoRan Inc has hired Goldman Sachs Group Inc and Barclays Plc to help find private equity firms that will finance some of its projects, according to people familiar with the matter, Reuters reported.
  • Univita Health said Tuesday it secured a $40 million credit facility from Genstar Capital and a private lender, PE HUB reported. Miramar, Fla.-based Univita provides post-acute and home healthcare solutions. GLC Advisors & Co acted as financial advisor to Univita.
  • KKR & Co LP, search engine Baidu Inc and hedge fund Coatue said on Wednesday they will jointly invest $170 million in Chinese online used-car auction firm Uxin, aiming for a piece of the booming used-car market, Reuters reported.
  • U.S. medical device maker Zimmer is set to secure conditional approval from European Union regulators for its proposed $13.4 billion takeover of rival Biomet, two people with knowledge of the matter said on Wednesday, Reuters reported.
  • Australia’s Fortescue Metals Group Ltd, the world’s fourth-largest iron ore miner, pulled a $2.5 billion high-yield bond issue after investors rattled by tumbling ore prices balked at the offer, sending its shares to six-year lows, Reuters reported.
  • A bankruptcy judge gave the green light to power producer Longview Power LLC to enter into a $275 million loan deal that will enable it to exit Chapter 11 after nearly two years, Reuters reported. Morgan Stanley Senior Funding Inc, Capital Markets LLC, KKR Corporate Lending LLC and Third Avenue Trust are providing the loan.
  • U.S. private equity firm Lone Star is one of four bidders expected to table offers for Italian banking services provider ICBPI by a March 23 deadline, three sources familiar with the matter said.
  • Public Investment Corp, South Africa’s biggest pension fund, said it paid 22 billion rand ($1.8 billion) for 20 percent stakes in two solar power stations expected to add 200 megawatts of power to the national grid.
  • Bank Leumi, Israel’s second-largest lender, said on Wednesday it sold 310 million shekels ($77 million) worth of shares in Mobileye, a maker of vision software for vehicle cameras.
  • Property group Deutsche Wohnen launched its 11.50 euro per share cash bid for Austrian rival Conwert on Wednesday and ruled out sweetening the price despite criticism from some Conwert shareholders. Conwert’s supervisory board has taken note of Deutsche Wohnen’s bid and said it will respond within 10 working days.
  • The British government is still considering Russian billionaire Mikhail Fridman’s acquisition of North Sea gas fields, but has made clear it has the power to require him to sell the assets, Prime Minister David Cameron’s spokesman said.
  • Cement makers Holcim and Lafarge, seeking to save their troubled merger, are discussing a new CEO appointment to the combined group that would see current Lafarge boss Bruno Lafont in a different role, sources said.
  • The London Metal Exchange said it is selling its entire stake of about 2 percent in clearing house LCH.Clearnet to Borsa stanbul and will work with the Turkish stock exchange to develop products for the steel market.
  • Raiffeisen Bank International is in talks with the European Bank for Reconstruction and Development about co-investing in Ukraine, Chief Executive Karl Sevelda told German newspaper Handelsblatt.
  • German engineering and services firm Bilfinger has no plans to split off businesses that pushed the company into a deep crisis last year, its interim chief executive said.
  • Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp, Reuters reported

($1 = 4.01 shekels) ($1 = 0.94 euros) ($1 = 12.3872 rand)

(Reuters items compiled by Yashaswini Swamynathan in Bengaluru and by Lawrence Aragon of Buyouts. PE HUB items written by Luisa Beltran and Iris Dorbian and compiled by Lawrence Aragon.)