Private equity firm Energy Spectrum Capital LP has agreed to inject $100 million into BlueJack Energy Solutions LLC, a recently-formed company that funds, develops and operates waste stream solutions for producers in the Permian Basin and Marcellus and Utica shale plays, the companies said Wednesday.
German health care products company Stada Arzneimittel could sell to CVC Capital Partners for up to $4.1 billion, AT&T is still in the running to buy Yahoo's core internet business, and Brazilian airport oversight agency Infraero hopes to raise $1.4 billion by selling stakes in five airports.
A New York federal court Wednesday issued a writ of execution that could potentially assist former New York Global Group intern Hanna Bouveng in collecting a $5.7 million judgment against Benjamin Wey, the now-indicted private equity captain who was found liable for defaming and stalking his former employee.
The Carlyle Group plans to shed another large stake in Axalta Coating Systems Ltd. with an offering that could raise up to $702.8 million and drop the private equity giant’s stake in the company below 20 percent, the automotive and industrial coatings company said Tuesday.
Private equity firm Phoenix Equity Partners has agreed to sell safety consultancy firm Edif Group to Italy-based Rina SpA in a deal worth £118.5 million ($174.2 million), the companies said Wednesday, bolstering Rina’s presence in the U.K.
Energy-focused private equity outfit Lime Rock Management LP on Wednesday said that it has closed its fourth Lime Rock Resources fund with $754 million, with guidance from Morgan Lewis & Bockius LLP, to invest in U.S. oil and gas properties.
A New York federal judge on Tuesday chucked a proposed class action against online home goods retailer Wayfair that accused the private equity-backed company of failing to disclose in its $319 million initial public offering that Overstock.com was a competitor, saying it had no duty to reveal that fact.
A Texas state judge ruled Tuesday that iHeartMedia Inc.’s decision late last year to transfer shares between two of its subsidiaries didn’t constitute an event of default under multibillion-dollar credit agreements, handing the heavily indebted media company a win in a dispute with its senior lenders.
Unilever and L'Oreal are among those vying to buy private equity-backed shampoo maker Vogue International, Goldman Sachs' asset management arm will begin buying minority stakes in private equity firms, and France's government is mulling the sale of its stake in carmaker PSA Peugeot Citroen.
American International Group Inc. unveiled an insurance product Tuesday designed to protect equity crowdfunding investors from issuer fraud, one week after U.S. rules governing equity crowdfunding went live and enabled people of ordinary means to invest in private startups for the first time.
Health care investment firm OrbiMed Advisors LLC said Monday that it has closed a new fund focused on biopharmaceutical, digital health, medical device and diagnostics companies in Israel with $307 million.
Energizer Holdings Inc. detailed plans Tuesday to buy car air freshener maker HandStands in a $340 million deal the battery maker says will combine two highly complementary operations.
French small appliance maker Groupe SEB said Monday that it will enhance its offerings and jump into the professional coffee machine space with the €1.59 billion ($1.77 billion) purchase, including debt, of WMF Group GmbH from private equity giant KKR & Co. LP.
Old Mutual PLC confirmed media speculation Tuesday that the South African financial services company's stake in U.S. fund manager OM Asset Management PLC has drawn interest from potential suitors, after unveiling a separation plan earlier this year.
Behrman Capital will part ways with Data Device in a $1 billion sale led by Latham & Watkins, a deal that comes 13 years after the private equity firm invested in the aerospace and defense company’s parent, according to a Monday statement.
American Capital has sold addiction and mental health treatment facility The Meadows of Wickenburg LP to a Kohlberg & Company LLC portfolio company in a deal that netted the Maryland-based private equity firm $97 million in proceeds, it said Friday.
A fourth bidder surfaced Monday for an expedited sale of bankrupt dye and fabric care products distributor Phoenix Brands LLC, calling out a timing objection near the end of an initial hearing for the company’s $71 million Chapter 11 case in Delaware.
Sidley Austin LLP has represented private equity firm Siris Capital Group LLC in an all-cash deal to acquire digital communications services provider Xura Inc. for $643 million, the companies announced Monday.
Anthem and Cigna are having behind-the-scenes issues that could complicate their $54.2 billion merger, Teva's $40.5 billion acquisition of Allergan's generics business is nearly a done deal, and Chinese package delivery firm SF Holdings will merge with a metals company in a complicated capital markets transaction.
An American chain of Benihana restaurants on Friday removed to New York federal court a breach of contract lawsuit in which its global counterpart accuses the U.S. branch of trying to use a trademark agreement to muscle the company into forking over its locations across the world.
It's important to review the basic means and manner through which liabilities otherwise created by portfolio companies and acquisition vehicles can be asserted against a private equity firm or its deal professionals. Knowing why the provisions mitigating these risks were originally developed will hopefully encourage continued vigilance, says Glenn West of Weil Gotshal & Manges LLP.
Nowhere is the attractiveness of law firms as cybercrime targets more evident than the recent Mossack Fonseca hack, believed to be the most significant data theft event in history. Firms represent a treasure trove of information and historically have had dreadful cybersecurity practices. There has been some progress, but firms can also commit to better defending their information by taking a simple, three-step approach, says Sean D... (continued)
U.S. Securities and Exchange Commission Enforcement Director Andrew Ceresney recently highlighted the three primary categories of actions against private equity fund advisers, and specified certain arguments that the enforcement staff has rejected during the course of investigations. There is no question that the SEC’s enforcement resources will continue to target the industry, say attorneys with Proskauer Rose LLP.
In calling for mandatory pro bono service, U.S. Supreme Court Justice Sonia Sotomayor is effectively using her bully pulpit to advance the cause of access to justice for the poor. Her courageous leadership is a clarion call to action that must be heeded. But bold as it may be, the pronouncement is incomplete, says David Lash, managing counsel for pro bono at O’Melveny & Myers LLP and a member of the Association of Pro Bono Counsel.
Joining two firms with long histories meant not only combining cultures, philosophies and deeply rooted ways of doing business, but also combining two IT systems, two accounting systems, and two ways of handling many other administrative functions. It didn't help that the firms had different fiscal year ends, says John Langan, managing partner of Barclay Damon LLP.
While the security of personal and financial information has garnered most of the attention over the last 10 years, investment firms should also focus their attention on the protection of nonpublic information of potential transactions. In addition, firms that invest in the health care industry must also be aware of their obligations relating to the protection of health care data, say attorneys with Ropes & Gray LLP.
On May 20, 1996, the U.S. Supreme Court held that a $2 million punitive damages award imposed for a tort that caused $4,000 in economic harm was unconstitutionally excessive. In the ensuing 20 years, BMW v. Gore has proved to be a foundational case in punitive damages jurisprudence. We were fortunate enough to have played a role in this historic decision, say Mayer Brown LLP partners Andrew Frey and Evan Tager and Maserati North Am... (continued)
Last week, we discussed why corporate legal departments are taking on so much more work themselves instead of outsourcing it to law firms. This is, of course, an ominous sign for law firms and the traditional partnership structure. So too is disaggregation and the emergence of legal service providers as well as others — notably the Big Four — poised to enter the gargantuan legal services market, says Mark A. Cohen of Legal Mosaic LLC.
Going on a road show? Don’t forget the red. Latham & Watkins LLP partner Leakhena Mom explains the term "red herring" in this short video from the firm's Book of Jargon.
Depending on the relative investment dollars contributed in earlier rounds, A and B investors who have also invested in a C round may be motivated to make C round decisions for the benefit of their A and B round positions. A new investor in a later round must therefore understand the actual C round investor mix, says Neal Strum of Venable LLP.