GSO Capital Partners, newly part of The Blackstone Group, has agreed to pay a $21 million breakup fee to Reddy Ice after credit market conditions gave GSO’s lenders cold feet.
The firm’s country head, Paul Yoo, has been sentenced to five years in prison, while Lone Star has been fined $26 million by a Korean court.
Alliance Data Systems has sued the private equity firm, which previously indicated it would drop the $7.8 billion deal due to regulatory requirements that are ‘unprecedented and unacceptable’.
US buyout firm JC Flowers has been unable to sell the Dutch bank, despite agreeing a deal in August. The cancelled deal may dampen Flowers’ interest in UK bank Northern Rock and UK insurer Friends Provident.
The credit crunch has claimed another victim: Patriarch Partners’ American LaFrance, one of the oldest fire engine makers in the US.
Avalon Laboratories, which manufactures connection devices for life support machines, is American Capital’s sixth investment in the medical technology sector.
The credit crunch has claimed another victim: Patriarch Partners’ American LaFrance, one of the oldest fire engine makers in the US.
US student lender Sallie Mae will accept a $30 billion refinancing in lieu of a JC Flowers-led buyout. Meanwhile, Blackstone has told Alliance Data it does not think the company can meet closing conditions for a $6.43 billion acquisition.
The disappearance of mega deals in the European buyout market and a drop of nearly 50 percent in large mid-market volume contrasted to gains for the lower mid-market, growth capital and venture in the fourth quarter.
US student lender Sallie Mae will accept a $30 billion refinancing in lieu of a JC Flowers-led buyout. Meanwhile, Blackstone has told Alliance Data it does not think the company can meet closing conditions for a $6.43 billion acquisition.
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