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Record date for mandatory conversion of all preference shares into ordinary shares in Swedbank

April 6, 2013 05:22
Pursuant to the conversion clause set forth in Swedbank's articles of association the Board of Directors has today resolved to convert all preference shares into ordinary shares, the bank said in a statement. March 27 is appointed as the last day of trading in preference shares. April 5 is the record date for conversion of preference shares into ordinary shares. Trading in preference shares is impossible from and including March 28 until new ordinary shares have been received.

Nordic Capital sells Permobil for 655 million euros

March 27, 2013 13:16
LONDON (Reuters) - Private equity firm Nordic Capital has agreed to sell electric wheelchair maker Permobil to Swedish investment firm Investor AB <INVTEb.ST> in a deal worth 655 million euros (£557.2 million). The Nordic region, where Sweden is a hub for the private equity industry, is expected to see a pick-up in buyout activity as a stronger economic outlook underpins higher valuations for sellers and dispels some of the uncertainty that sidelined buyers in the second half of last year.

Countrywide jumps in strong market return

March 20, 2013 04:00
By Brenda Goh LONDON (Reuters) - Countrywide Holdings <CWD.L>, Britain's largest estate agency by revenue, enjoyed a strong return to the stock market on Wednesday after a six-year absence, completing a listing which valued it at 750 million pounds. Countrywide's successful share sale reflects a recent upturn in companies going public and was encouraged by growing investor optimism towards Britain's housing sector, with housebuilders reporting robust profits despite the mixed economic picture.

Dell reaffirms buyout plan, may extend deadline

March 6, 2013 12:16
Dell's board of directors Wednesday defended a proposed $24.4 billion private equity buyout led by founder Michael Dell, but said it may continue looking at other offers past a March 22 deadline. A statement issued by the special committee of the board said the plan was adopted after "a rigorous process, over a period of more than five months, to evaluate Dell's current risks, opportunities and strategic alternatives."

New breed of "private equity" scams target China retail investors

February 27, 2013 17:30
By Samuel Shen and Kazunori Takada SHANGHAI, Feb 28 (Reuters) - Thousands of retail investors in the Chinese city of Tianjin say they were tricked out of more than $500 million by sellers of illegal wealth management products - part of a growing problem stemming from China's rush to develop its private equity sector. Scam private equity businesses mushroomed in China after a government drive to promote the industry in 2009, leading to a flood of licences for new firms issued without proper regulation.

Judge blocks Apple shareholder vote in lawsuit

February 22, 2013 18:15
A US federal judge blocked Friday an Apple shareholder vote in response to a hedge fund lawsuit that claimed the tech giant was improperly bundling questions on a ballot. The ruling was a win for hedge fund Greenlight Capital, which has been pressing Apple to give shareholders more of its huge cash stockpile. The preliminary injunction ordered by Judge Richard Sullivan has no impact on Apple's distribution of cash but prevents a vote on a proposal supported by management to make it impossible for the Apple board to issue preferred stock without shareholder approval.

Investors content to take Buffett's 20 pct Heinz premium

February 15, 2013 15:00
* Stock traded above offer price Thursday * Buffett has said will not raise offer * Valuations high compared with peers By Olivia Oran Feb 15 (Reuters) - Warren Buffett says he will not pay a penny more than the $72.50 a share he is already offering for ketchup maker H.J. Heinz Co, and after an initial hesitation, most investors seem to be taking him at his word.

UPDATE 8-Buffett, Brazil's 3G team up for $23 bln Heinz buyout

February 14, 2013 18:00
* Paying $72.50 per share for Heinz * Buffett says Berkshire putting up $12 bln-$13 bln cash * Price is a 19 pct premium to Heinz pvs all-time high * Heinz shares soar 20 pct (Updates to close, adds links) By Ben Berkowitz and Martinne Geller Feb 14 (Reuters) - Warren Buffett and Brazilian financier Jorge Paulo Lemann are teaming up to buy ketchup maker H.J. Heinz Co for $23.2 billion, in what could be the first step of a wave of mergers for the food and beverage industry.

CORRECTED-UPDATE 6-Heinz $23 bln sale to Buffett, 3G to spur consolidation

February 14, 2013 13:50
(Corrects all-time high for shares, fourth-to-last paragraph) * Paying $72.50 per share for Heinz * Buffett says Berkshire putting up $12 bln-13 bln cash * Price is a 19 pct premium to Heinz pvs all-time high * Heinz shares soar 20 pct By Ben Berkowitz and Martinne Geller Feb 14 (Reuters) - Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital will buy ketchup and baby food maker H.J. Heinz Co for $23.2 billion in cash, a deal that combines 3G's ambitions in the food industry with Buffett's hunt for growth.

Dell claims buyout in shareholders' 'best interests'

February 11, 2013 18:15
Dell said Monday its proposed $24.4 billion private equity buyout plan is "in the best interests of stockholders," brushing aside criticism from a key investor that it undervalues the tech giant. In a statement filed with securities regulators, Dell released a brief comment which it said was in response to inquiries on the matter. It said a special committee of its board considered "an array of strategic alternatives" and had "retained a prominent management consultant to help it assess the company's strategic position."
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