US Shipping Partners' bankruptcy reorganization plan confirmedOctober 1st, 2009 US Shipping Partners' bankruptcy plan confirmedEDISON, N.J. — Petroleum and chemical shipper U.S.
Pfizer's $68 billion buyout of Wyeth gets clearance in Australia, still awaiting US clearanceSeptember 30th, 2009 Pfizer, Wyeth deal gets clearance in AustraliaNEW YORK — Drug developer Pfizer says the Australian Competition and Consumer Commission approved the company's $68 billion buyout of rival Wyeth. Pfizer will divest certain animal health assets in Australia, the New York-based company says.
Tribune, bondholders reach agreement on access to buyout recordsSeptember 24th, 2009 Tribune, bondholders agree on records accessWILMINGTON, Del. — Attorneys representing Tribune Co.
4 private equity firms to pay restitution, make reforms to resolve NY pension fund probeSeptember 17th, 2009 4 firms settle NY pension fund probeNEW YORK — Four more private equity firms involved in a corruption scandal at New York's public pension fund have agreed to pay restitution and implement reforms, state Attorney General Andrew Cuomo announced Thursday. The companies settling with the state include HM Capital Partners, Levine Leichtman Capital Partners, Access Capital Partners and Falconhead Capital LLC.
Equity infusion into Air India to be discussed soonSeptember 16th, 2009 NEW DELHI - Stating that the revival plan for cash-strapped national carrier Air India was well on track, Civil Aviation Minister Praful Patel Wednesday said that his ministry will shortly seek cabinet approval for equity infusion into the airline. "There are two issues concerning Air India.
Providence Equity Partners names Citigroup Chairman Parsons as a senior adviserSeptember 16th, 2009 Providence Equity names Parsons as senior adviserPROVIDENCE, R.I. — Providence Equity Partners Inc., owner of video Web site Hulu and Spanish-language television network Univision, said Wednesday that Citigroup Chairman Richard Parsons will serve as a senior adviser.
JLL Partners and Warburg Pincus propose recapitalization of Builders FirstSourceSeptember 1st, 2009 Firms suggest recapitalizing Builders FirstSourceNEW YORK — Affiliates of private equity firms JLL Partners and Warburg Pincus said Tuesday they have proposed to the board of building-products supplier Builders FirstSource Inc. a recapitalization of the company.
Features of private equity industry, which may acquire more failed banksAugust 25th, 2009 Features of private equity industryAs bank failures mount, regulators are looking more favorably on private equity investors that want to acquire failed institutions. The FDIC board, meeting in a public session Wednesday, is expected to ease restrictions proposed for private equity firms early last month, people familiar with the issue say.
Apax Partners begins tender offer to acquire outstanding shares of BankrateJuly 29th, 2009 Apax Partners begins tender offer for BankrateNEW YORK — Private equity firm Apax Partners launched a cash tender offer at $28.50 a share Tuesday to acquire all outstanding shares of consumer finance Web site operator Bankrate Inc. The value of the proposed transaction, which was announced last week, is roughly $570.8 million, excluding transaction fees and expenses, according to the companies.
160 state-run firms post profits in 2007-08July 14th, 2009 NEW DELHI - Only 160 out of 419 central government-run firms made profits in 2007-08, contributing Rs.23,857.88 crore (Rs.238.58 billion/$4.86 billion) as dividend to the exchequer, the government said Tuesday. Government-controlled companies had contributed Rs.18,443.79 crore (Rs.184.44 billon) in 2005-06 and Rs.22,834.76 crore (Rs.228.35 billion) in 2006-07 to the central kitty, said Minister of State for Heavy Industries and Public Enterprises Arun Yadav in a written reply in the Rajya Sabha.
KKR & Co. withdraws IPO registration statement from SEC; seeks buyout of EuropeanJune 24th, 2009 KKR & Co. withdraws plans for IPO after 2 yearsNEW YORK — Private equity firm Kohlberg Kravis Roberts & Co. withdrew its two-year-old plans for an initial public offering on Wednesday.
India Inc has contributed $105 bn to US economy: Anand SharmaJune 18th, 2009 WASHINGTON - Indian firms have contributed $105 billion (Rs.5.25 lakh crore) to the US economy between 2004 and 2007 apart from creating 300,000 jobs, Commerce and Industry Minister Anand Sharma said here late Wednesday. In his address at the US-India Business Council (USIBC) summit, Sharma cited the findings of a study on India Inc's role in the US and said: "During the period 2004-07, the Indian industry had contributed $105 billion to the US economy and created 300,000 jobs."
He also released the study, "Contribution of the Indian industry to the US economy", which has been prepared for the India Brand Equity Foundation, an organisation set up by the commerce ministry and the Confederation of Indian Industry (CII) to build positive economic perceptions of India globally.
State-run firms tie up to secure coal supplies abroadMay 21st, 2009 MUMBAI - State-run energy firms have floated a joint venture for overseas acquisition of coal mines and securing cooking and thermal coals supplies. The new company, International Coal Ventures, would be formed in collaboration with Steel Authority of India (SAIL), Coal India (CIL), Rashtriya Ispat Nigam (RINL), NMDC and NTPC, formerly National Thermal POwer Corp.
NY comptroller sues Aldus Equity over Dallas firm's role in pay-to-play scandalMay 6th, 2009 NY comptroller sues firm in pay-to-play scandalNEW YORK — New York state's comptroller is suing a company accused of paying illegal kickbacks in exchange for a big investment from the state pension fund. Comptroller Thomas DiNapoli filed the suit Wednesday in Albany as part of his effort to sever all ties with the Dallas firm, Aldus Equity Partners.
CPI-M releases manifesto for general electionsMarch 16th, 2009 NEW DELHI - The Communist Party on India (Marxist) released its manifesto for the forthcoming Lok Sabha elections on Monday. The party has called for government control in the financial sector and proposed a complete halt on the privatisation of profitable state firms.
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