Boston-based Bain Capital LLC agreed to sell a majority stake in Novacap SAS to A Private Equity SA in a transaction that puts the Lyon, France-based chemicals company’s enterprise value at about €240 million. The transaction has the support of Novacap’s management team, which is headed by CEO Pierre Luzeau.
BankUnited Inc. set terms of its initial public offering that will be more than twice as big as what was originally planned, Reuters reported. The bank plans to raise about $630 million when it seeks to have its shares listed in the New York Stock Exchange under the symbol “BKU”. It previously filed its plans to go public with a target of raising up to $300 million. Wilbur Ross’s WL Ross & Co., The Carlyle Group, Blackstone Group and Centerbridge Partners bought BankUnited in May 2009. BankUnited plans to sell 26.25 million shares for $23 to $25 a share.
The Carlyle Group received an expression of interest for its stake in a Taiwan cable TV firm, Reuters reported. Two separate sources said Carlyle is not likely to sell what is a profitable. Taiwan’s Eastern Media International is interested in picking up the Washington, DC-based shop’s estimated 62 percent stake in ETTV, a person with direct knowledge of the matter told Reuters.
Charterhouse Group Inc. of New York has sold Camelot Schools‘ education services division to The Riverside Company. Financial terms were not disclosed. Camelot is an Austin, Texas-based provider of behavioral health and alternative education services.
Singapore sovereign wealth fund GIC is seeking to sell an office building in Seoul, Reuters reported citing South Korea’s Maeil Business newspaper. The property has an estimated value of up to 1.1 trillion won ($977.2 million), the newspaper said. Government of Singapore Investment Corp. purchased the 30-story building, which is known as Seoul Finance Center, for 355 billion won in 2000.
The Gores Group has agreed to sell Lineage Power Holdings Inc. to General Electric. Deutsche Bank was financial adviser to GE on the transaction. Morgan Stanley was financial adviser to Lineage Power and the Gores Group.
Kohlberg, Kravis, Roberts & Co. of New York and Permira of London raised €193.6 million ($252.6 million) from the sale of shares in ProSiebenSat1, Reuters reported. After the sale of 8 million non-voting preferred shares in the German satellite broadcaster, KKR and Permira retained 53 percent of ProSieben’s share capital and 88 percent of the common shares with voting rights.
Kosmos Energy plans to raise up to $500 million through an initial public offering, Reuters reported. Kosmos, which is backed by Blackstone Group and Warburg Pincus, filed its plan with the Securities and Exchange Commission. The Hamilton, Bermuda-based company said Credit Suisse, Citigroup and Barclays Capital will underwrite the IPO. The filing did not specify how many shares will be sold in the offering.
Oaktree Capital Management plans to start the auction of Stock Spirits this month, sources told Reuters. Two people familiar with the matter said the Los Angeles-based firm has not definitively decided to sell the European company, and is considering an initial public offering. Stock Spirits produces Polish vodka Czysta de Luxe and Czech plum brandy. It previously hired Credit Suisse to advise it on strategic options.
PAI Partners SAS may sell its 50 percent stake in yogurt-maker Yoplait, Reuters reported citing Le Figaro newspaper. Le Figaro reported that French cheese maker Bel is considering acquiring the stake, but the report did not identify its sources. Farming cooperative Sodiaal owns the other half of Yoplait.
Praesidian Capital LLC exited its investment in Venio LLC. The exit was facilitated by Venio’s purchase of certain divisions from The Keane Organization and a new financing associated with the transaction. Praesidian of New York is a provider of mezzanine capital for small and mid-sized companies. It added Venio to its portfolio in December 2008.
Riverside Partners will sell Vocollect, a voice-centric service provider for mobile workers, in a $190 million transaction to publicly traded Intermec Inc. of Everett, Wash., a maker of mobile computing products, bar code scanners and related products. Goldman Sachs advised the strategic buyer in the transaction; Boston-based Riverside Partners invested in Vocollect in 2009.
Wilbur Ross plans to take International Automotive Components Group public this year and hired Bank of America Corp. and JPMorgan Chase & Co. to run the process, two people familiar with the matter told Reuters. IAC is a global supplier of automotive components and systems.
Starwood Capital Group is considering options to sell Louvre Hotels, Reuters reported citing French daily Les Echos. The Greenwich, Conn.-based firm is looking at the possibility of a stock market listing or a sale, the paper said. Louvre Hotels is a French hotel group.
Tonka Bay Equity Partners of Minnetonka, Minn., has sold its majority stake in the specialty circuits maker All Flex to Granite Equity Partners, a St. Cloud, Minn.-based private equity firm that already held a minority stake in All Flex, which is based in Northfield, Minn.
New York-based Trilantic Capital Partners has sold Italian soft drinks company Spumador to Netherlands-based Refresco Group, a maker of private label fruit juices and soft drinks that is owned by the European buyout firm 3i Group. Terms of the deal aren’t being disclosed. Private equity firm Windjammer Capital Investors exited its investment in MacLean Power Systems, the firm revealed. Over Windjammer’s eight-year holding period, the investment in MPS generated total proceeds of $128.2 million on $30.6 million of invested capital.