Cinemark Holdings, a publicly traded movie house operator, completed a $660 million fundraising from a joint venture between AMC and Regal Entertainment Group, led by JPMorgan and Blackstone Advisory Partners. The company’s backers, Madison Dearborn Capital Partners, Syufy Enterprises LP Mitchell Special Trust, will sell some of their shares, leaving Madison Dearborn with a 32.1% stake, Syufy Enterprises with 5.3% and the Mitchell Special Trust 4.9%.
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Cinemark Raises $660m, Madison Dearborn to Sell Shares
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KKR boosts asset management platform
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Kohlberg Kravis Roberts has appointed four professionals within its USD13bn asset management platform, KKR Asset Management.
Read more »Tenaska Exits InfrastruX Via Sale
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Willbros Group, Inc. agreed to acquire InfrastruX Group, Inc., a utilities services company backed by Tenaska Capital Management, for $480 million in cash and stock. The company had previously filed to undergo a $290 million IPO. Tenaska acquired InfrastruX from Puget Energy Inc for $275 million in 2006.
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Mubadala Development Company Invests in Entertainment Strategy
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Mubadala Development Company has agreed to acquire a 9 percent equity stake in The Raine Group LLC, a firm which they seeks to capitalize on emerging investment opportunities in the media, entertainment and sports sectors around the world. Mubadala Development Company and William Morris Agency will be investors in Raine alongside private equity pioneer Ted Forstmann. Raine, a boutique merchant bank, was founded by Joe Ravitch, former senior partner and global head of media at Goldman Sachs, and Jeff Sine, former Vice-Chairman and global head of Technology, Media & Telecom at UBS.
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MCM Capital Partners Exits Amrep
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MCM Capital Partners and Blue Point Capital have sold portfolio company Amprep, Inc., Marietta, Georgia-based manufacturer of specialty chemicals, to Zep, Inc. Total enterprise value for the transaction approximately $74 million.
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CVC Sells Paperbox Holdings
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(Reuters) - Private equity fund CVC Partners has agreed to sell Paperbox Holdings Ltd to Japan’s Oji Paper Co Ltd for an undisclosed amount, Oji said on Friday.
CVC acquired Paperbox, a unit of Malaysia’s GS Paper & Packaging, in 2007 from Malaysian gaming group Genting (GENT.KL) for $212 million.
The deal comes amid a series of private equity exits in Asia, helped by an improvement in market sentiment.
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Stonegate attracts venture capital from Second Curve Partners
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Stonegate Mortgage Corporation has received an equity investment from Second Curve Partners, an Indianapolis based private equity firm.
Read more »PE-Backed Courts Asia Planning IPO
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(Reuters) - Courts Asia, a furniture and electronics retailer with operations in Singapore and Malaysia, is planning to raise more than $100 million in a Singapore initial public offering, sources said on Friday.
The IPO, comprising a mix of new and existing shares, will raise funds to support Courts’ consumer finance business and the opening of new stores, according to a draft prospectus on the Monetary Authority of Singapore’s website.
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Sensata Shares Rise on Debut
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(Reuters) - Hopes for a recovering auto industry buoyed car parts maker Sensata Technologies Holding (ST.N) in its market debut on Thursday, sending its shares up as much as 5.6 percent.
Sensata manufactures sensors for automakers, thermal circuit breakers for aircraft, temperature controllers for electric motors, and other industrial technology. In 2009 more than half of its revenue came from the auto industry.
“One of its biggest customers right now is Ford and Ford is cranking on all cylinders,” said IPO Boutique Senior Managing Partner Scott Sweet.
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Genetix Raises $35 million
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Genetix Pharmaceuticals, a gene therapy company developing treatments for severe genetic disorders, completed a $35 million Series B financing with new investors Third Rock Ventures and Genzyme Ventures joining TVM Capital, Forbion and Easton Capital.
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