When corporate restructuring affects the security of a defined benefit pension scheme, trustees will insist they are invited to the negotiating table. Myles Pink looks at the ways in which corporate activity has been affected by changes to pensions legislation, the influence of scheme trustees in the negotiating process and what options are available for private equity acquirers.
Dedicated secondary buyers are flat out, with billion dollar portfolio disposals being arranged by leading LPs such as CalPERS. At the same time, buyers are beginning to seriously contemplate what an end to the private equity boom might mean for them. Philip Borel reports.
Kohlberg Kravis Roberts' £12bn (€17.8bn; $24.3bn) acquisition of health and beauty chain Alliance Boots was the largest buyout ever seen in Europe – but after global credit markets nosedived during the summer months, the underwriting banks were left with a record-sized headache. Toby Lewis traces the deal's progress.
Emerging Capital Partners managed to make a 3.4 times return from its stake in a rubber company with operations in the Ivory Coast, despite the country being wracked by civil war.
A new Softbank affiliate is making its mark across Asia.
RISK-RESISTANT 2007-09-01 Staff Writer <quotation><italic></italic></quotation>France's world-famous Le Mans 24-hour car race is, as the name would suggest, a test of endurance. It is also, in at least equal measure, an examination of nerves. Two examples illustrate this well. In 1955
Sun Capital takes a second swing with a subprime lender.
Operational heavyweight Bruno Deschamps swaps Clayton, Dubilier for 3i.
LBO funds buying into metal-processing businesses in Germany will need to get along with IG Metall.
Lone Star said in a letter to Accredited Home Lenders today that it would loosen the closing conditions of the deal if Accredited agrees to cut its price from $400 million to $225 million.