Some of Wednesday's midday movers:» Read More
NEW YORK, Aug 18- A judge said he will rule on Tuesday whether junior bondholders of Momentive Performance Materials, a quartz and silicone maker owned by Apollo Global Management, are being fairly pushed behind other creditors, a decision that could make or break Momentive's plan to cut $3 billion in debt and exit bankruptcy.
NEW YORK, Aug 18- Momentive Performance Materials, the quartz and silicone maker owned by Apollo Global Management, will embark Monday on a week of hotly contested hearings seeking court approval of a plan to cut $3 billion in debt and exit bankruptcy.
Attorney Melinda Haag announced that Alfred J. Villalobos, a former member of the board of the California Public Employee Retirement System who later worked as a placement agent, engaged in a conspiracy to commit corruption, defraud the United States, conceal materials, and conspire to commit mail and wire fraud.
Aug 7- Blackstone Group LP, KKR& Co LP and TPG Capital LP have agreed to settle a U.S. lawsuit accusing them of conspiring not to outbid each other and other buyout firms on takeovers of companies, a person familiar with the matter said.
Aug 6- Apollo Global Management LLC said on Wednesday its second-quarter earnings fell 6 percent, missing most analysts' expectations, as it sold fewer of its private equity holdings while taxes and expenses rose. Blackstone Group LP, KKR& Co LP and Carlyle Group LP all posted bumper profits for the quarter.
Aug 6- Apollo Global Management LLC said on Wednesday its second-quarter earnings declined 6 percent, missing most analysts' expectations, as it sold fewer of its private equity holdings while taxes and expenses rose.
NEW YORK, July 16- KKR& Co LP's co-founders Henry Kravis and George Roberts have indicated they intend to stay at the buyout firm for at least five more years, but two men- Scott Nuttall and Joseph Bae- are emerging as front-runners to eventually succeed them.
June 20- Food retailer Smart& Final Stores Inc, backed by private equity firm Ares Management LP, filed with U.S. regulators on Friday to raise up to $100 million in an initial public offering of its common stock. The company was bought by Ares Management from Apollo Global Management LLC for $975 million in 2012..
*Slot-machine maker has a market value of nearly $4 bln. MILAN, June 16- Italian lottery operator GTECH is in preliminary talks to buy Las Vegas- based International Game Technology in a cash and shares deal that would make it a significant player in the casino slot machine business.
MILAN, June 16- Italian lottery operator GTECH said on Monday it was in preliminary talks to buy Las Vegas- based slot machine maker International Game Technology in a deal that could involve a cash and paper offer.
NEW YORK, June 10- Wall Street banks are playing cat-and-mouse with U.S. regulators over rules that seek to reduce lending for deals that load up companies with too much debt, as they try to retain a profitable business and meet demands from clients and investors.
June 4- Texas power giant Energy Future Holdings will square off against creditors in bankruptcy court on Thursday over a key question: will borrowing billions of dollars prop up the business or deepen its insolvency?
June 4- Britain's Tragus Group, which runs the Cafe Rouge and Strada chains, will shed more than 260 million pounds of debt and offload up to 40 restaurants in a sweeping restructuring by its new private equity owner, the Times reported, without citing sources. The paper said Tragus planned to sell the struggling Italian chain Strada.
NEW YORK, June 2- Private equity firms Warburg Pincus LLC and Vestar Capital Partners Inc are exploring an initial public offering of Triton Container International Ltd that could value the company at more than $6 billion, including debt, said three people familiar with the matter.
MADRID, May 22- Britain's Barclays is sounding out potential buyers for its Spanish retail bank, people familiar with the matter said, adding that local peers and private equity firms could be interested in parts of the business.
*Pvt equity has pumped $32 bln into shipping in past 2 yrs-fund mgr. SINGAPORE, May 9- The shipping industry faces a looming capacity glut as billions of dollars pumped into it by private equity have stoked a vessel-buying spree, threatening its prospects just as the sector is emerging from its worst downturn in three decades.
*Assets of $159.3 bln as of end March vs $161.2 bln end of December. NEW YORK, May 8- Apollo Global Management LLC, manager of the largest private equity fund since the financial crisis, said on Thursday its buyout funds appreciated much less than before and that it saw more opportunities to increase its credit investment assets.
May 2- Shares of Ares Management LP, the first U.S. private equity firm to go public in about two years, fell as much as 5.3 percent in their trading debut on Friday, adding to the list of underperforming IPOs over the past month. The company's shares fell to a low of $18 in early trading on the New York Stock Exchange, $1.00 below their offer price.
Ares' shares fell to a low of $18 in early trading on the New York Stock Exchange after being priced at $19, well below the expected range of $21- 23, in a turbulent IPO market. At the low, the company was valued at $3.8 billion and co-founder Tony Ressler's stake at about $1.16 billion.
Pittsburgh, April 29- Publicly traded private equity? It sounds like an oxymoron- like jumbo shrimp or corporate responsibility. But what was once the exclusive domain of wealthy investors can now be explored by everyone.