Investors in Swiss biotech company Cytos will benefit from its merger with publicly traded healthcare company Asklia. As a result of the merger, Cytos will apply to the Swiss stock exchange for registration and request to begin public trading on October 29. The transaction reflects the increasing creativity needed by venture capitalists to exit their […]
SG, the corporate and investment banking arm of Societe Generale, is developing its leveraged finance operations in Germany with the creation of a new team in Frankfurt. Claus Peter is joining to develop SG’s presence in Germany. He will be managing director of SG’s European leveraged finance group. Peter, previously managing director of European leveraged […]
Richard Windsor, senior telecom analyst at Nomura Securities in London, says: “So far growth has come from new subscribers coming onto the network and that’s all over now. Future growth of a substantive nature is depending on coming up with compelling new services which are unclear at present.” Service like downloadable music and video clips, […]
Short term US private equity performance continued to deteriorate in Q2 2002, according to research undertaken by Venture Economics and the National Venture Capital Association. For the period ending June 30, 2002 one year returns for all US private equity and venture capital funds were 16.5 per cent and 27 per cent, respectively, compared to […]
The French venture capital association, AFIC, has published investment figures for the first half of 2002 that show a 20 per cent increase in investment compared to the same period last year. Total investment increased from EURO1.2 billion in 2001 to EURO1.4 billion in the first six months of this year. There was also a […]
Funds managed by Aberdeen Murray Johnstone Private Equity (AMJPE) have acquired UK joinery business Palgrave Brown in an unusual secondary buyout where the vendors were also funds managed by AMJPE. The deal values the company, at GBP30 million. The funds acquiring the business were not disclosed. Palgrave Brown was formed when AMJPE invested in the […]
UK buyouts are enjoying a surge in value with the strongest quarterly performance recorded since Q2 2001, according to figures form the Centre for Management Buy-out Research (CMBOR). Total deal value reached GBP5.6 billion, almost GBP2 billion higher than the previous quarter. The research, co-sponsored by Deloitte & Touche and Barclays Private Equity, shows renewed […]
Apax Partners is one of the world’s leading private equity investment groups. Founded in 1972 in the US and in Europe, Apax Partners operates across Europe, Israel, the US and Japan. The German office, based in Munich, opened in 1990. The group today employs 180 investment professionals worldwide with over 100 of those professionals operating […]
Cesky Telecom The debt financing backing the EURO1.82 billion LBO of a 51.1 per cent stake in Cesky Telecom by Deutsche Bank Private Equity and TDC is now unlikely to launch to market until early next year, via mandated arrangers Citibank/SSSB, ING and JP Morgan. This LBO follows an extended bidding competition for Cesky Telecom. […]
The coalition of the Social Democrats (SPD) and the Greens, who won the September 22, 2002 German general elections, resulted in the decision to significantly increase taxes and cut spending as a measure to achieve a balanced budget by 2006. However, Hassan Sohbi of Osborne Clarke does not think the plans to raise taxes in […]