Arcapita of Bahrain has sold Roxar, a Norwegian oil and gas metering business, to CorrOcean for approximately $370 million. The sale provided nearly a twofold return for Arcapita, which bought Roxar for $200 million in March 2006, with leveraged capital provided by Royal Bank of Scotland and Barclays Bank
The Blackstone Group has completed its sale of Extended Stay Hotels to the Lightstone Group for $8 billion. Blackstone retained a 10 percent stake in Extended Stay, which it acquired in 2004 for approximately $3.13 billion (including $1.13 billion in assumed debt).
Compass Partners has retained Goldman Sachs to help it sell Swiss fan maker Flakt Woods, one of the three remaining portfolio companies in its $917 million debut fund.
KPS Capital Partners has sold Blue Ridge Paper Products for $338 million to Rank Group Ltd. of New Zealand. Blue Ridge is a Canton, N.C.-based manufacturer of specialty paperboard packaging products. KPS acquired a majority position in 1999, while employees hold a 39 percent position.
Macquarie has agreed to sell its 45 percent stake in Aeroporti di Roma SpA to Gemina SA for €1.2 billion, according to Il Sole 24 Ore. Aeroporti di Roma operates airports in Rome.
MVC Capital has agreed to sell Latvian portfolio companies Baltic Motors Corp. and SIA BM Auto to Inchcape PLC (LSE: INCH), for approximately $120 million.
Terra Firma Capital Partners has received bids for German motorway service operator Tank & Rast, from Macquarie and a number of infrastructure funds. The offers are believed to be in the range of €2.5 billion, with Citigroup running the process. Terra Firma is expected to announce a winner or refinancing by week’s end. It originally acquired Tank & Rask in late 2004 for just over £1 billion from Apax Partners, Allianz Capital Partners and Lufthansa.
Wexford Capital has sold Drew Shoe Corp., a Lancaster, Ohio–based maker of pedorthic, therapeutic and occupational footwear, to company management and an unidentified private investor group. No financial terms were disclosed. BB&T Capital Markets advised Drew Shoe on the deal.