LT Group Equity Sale Raises $912 Million
Filipino billionaire Lucio Tan's LT Group raised $912.2 million in the country's largest ever equity sale.
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Stocks Rise Sharply, Led by Gains in Technology
(NEW YORK) — Technology stocks roared back Wednesday, driving the Standard & Poor’s 500 and Dow Jones industrial average to record highs. The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment. Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank’s latest minutes. Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That’s a big change from tech’s weak performance this year. The group is up just 4.7 percent, trailing the S&P’s gain of 11.3 percent. “Tech has performed so poorly, it’s oversold and warrants some interest here,” said Scott Wren, a senior equity strategist at Wells Fargo Advisors. “If the economy ...
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How Do You Revive Twinkies? A Q&A With the New Owners: The Metropoulos Brothers
A few months ago, Twinkies appeared to be on the brink of extinction. The snack cake was disappearing from store shelves across the U.S. because of consumer fears that the cakes would be no more. Hostess Brands — which at that time included Wonder Bread, Ding Dongs, Ho Hos, Zingers, and a couple dozen other snacks and foods — filed for Chapter 11 bankruptcy protection in January 2012 and began shutting its doors by November. But last week, private equity firms Apollo Group Management and Metropoulos & Co. snatched up the “snack cake” portion of Hostess for $410 million, and on March 19 a Manhattan bankruptcy judge officially approved the sale. Metropoulos & Co. has purchased several instantly recognizable all-American brands, including Bumble Bee Tuna, Chef Boyardee, and Pabst Blue Ribbon, but Twinkies might be their most iconic holding yet. C. Dean Metropoulos, the 66-year-old founder of the firm, will serve as CEO. But it’s up to his two sons — Daren, 29, and Evan, 32 — ...
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United States: SEC Settles Administrative Proceeding Over Deviation From Valuation Policy Stated in Fund Offering Materials and Investor Reports for Registered Adviser's Fund of Private Equity Funds (Financial Services Alert for March 19, 2013 - Good
Goodwin Procter Financial Services Group Partner, Peter W. LaVigne, and Counsel, Richard F. Kerr, will be participating in The Financial Markets Association’s 22nd Annual Securities Compliance Seminar.
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Found more than 1 month ago on channel
Mondaq
Leaning on the wrong people
Asia Pacific private equity seems to be coming out in a litigious rash. In Australia and New Zealand, units of Japanese beverages giant Asahi Group, Asahi Holdings Australia and Independent Liquor New Zealand, have reportedly brought suits in the Australian Federal Court against leading regional buyout firms Pacific Equity Partners and Unitas Capital over the sale of local brewing asset Independent Liquor, alleging misrepresentation of the earnings of the asset when it was sold in 2011.
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