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Stock Market & Financial Investment News

News Breaks
May 27, 2014
08:29 EDTKKRKKR proposes to acquire Goodpack Limited for about S$1.4B
The directors of Goodpack Limited announced the proposed acquisition of Goodpack by an affiliate of KKR by way of a scheme of arrangement in accordance with the Companies Act of Singapore and the Singapore Code on Take-overs and Mergers. Under the Share Scheme, all issued ordinary shares in Goodpack held by the shareholders of Goodpack as at a book closure date to be announced by the company will be transferred to IBC Capital, a company held by a fund affiliated with and advised by KKR. In consideration for the transfer, such Goodpack Shareholders will be entitled to receive S$2.50 per Goodpack Share in cash. With an outstanding issued share capital comprising 559,748,035 Goodpack Shares, excluding treasury shares, the consideration price values Goodpack at approximately S$1.399B. Upon the completion of the Share Scheme, Goodpack will become a wholly-owned subsidiary of IBC Capital, and will be delisted from the Official List of the Singapore Exchange Securities Trading Limited. IBC Capital has received irrevocable undertakings from David Lam, Executive Chairman of Goodpack, and a company majority-owned and controlled by Lam, representing, in aggregate, approximately 32% of total Goodpack Shares as at the date of the Announcement, to, inter alia, vote, or procure the voting of, all their Goodpack Shares in favour of the Share Scheme.
News For KKR From The Last 14 Days
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June 29, 2015
10:58 EDTKKRKKR to pay $30M to settle SEC charges of misallocating broken deal expenses
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June 26, 2015
07:28 EDTKKRKKR-backed Coffee Day plans $181M IPO in India, Bloomberg reports
Coffee Day Enterprises, which includes KKR (KKR) among its investors, plans to raise as much as $181M from an initial share sale in India, Bloomberg reports. Kotak Mahindra Capital, Citi (C), and Morgan Stanley (MS) are among the managers to the planned sale, the report says. Reference Link
June 25, 2015
07:48 EDTKKRMorgan Stanley disregards Fed guidelines with $1B loan, NY Post reports
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June 23, 2015
09:03 EDTKKR3M to buy Capital Safety from KKR in deal valued at $2.5B
3M (MMM) announced it has entered into a definitive agreement to acquire Capital Safety from KKR (KKR) for a total enterprise value of $2.5B, including the assumption of approximately $700M of debt, net of cash acquired. The business employs approximately 1,500 people worldwide and is headquartered in Bloomington, Minnesota. On a GAAP reported basis, 3M estimates the acquisition to be 4c dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be 12c accretive to earnings over the same period. The transaction is expected to close in the third quarter, subject to customary closing conditions and regulatory approvals. 3M will finance the transaction with existing cash, a portion of which will come from outside the U.S.
08:45 EDTKKRKKR toa cquire C.H.I. Overhead Doors from FFL, terms not disclosed
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June 22, 2015
08:15 EDTKKRKKR announces strategic investment in Tarena
KKR (KKR) announced a strategic investment into Tarena International (TEDU), a provider of professional education services in China. In this transaction, KKR and Shaoyun Han, founder, Chairman and CEO of Tarena, had entered into definitive agreements to purchase an aggregate of $90.5M of ordinary shares in the company from existing pre-IPO shareholders, which are funds managed by affiliates of Goldman Sachs and IDG Technology Venture Investments, LLC. Pursuant to these agreements, KKR has agreed to purchase 6,826,263 Class A ordinary shares, representing an approximately 13% stake in the company, from the selling shareholders for a total purchase price of $70M. Han has agreed to purchase 2,000,000 Class A ordinary shares, representing an approximately 3.8% stake in the company, from the selling shareholders for a total purchase price of $20.5M, in private transactions. Han intends to fund the purchase through the issuance of a convertible bond to KKR, issued by an entity wholly owned by Han. The share purchase and sale transactions are expected to close in July, subject to customary closing conditions. KKR’s investment is through its China Growth Fund. Further details of the transaction are not disclosed.
08:06 EDTKKRTarena announces investment from KKR and Tarena CEO Shaoyun Han
Tarena (TEDU) announced that KKR (KKR) and Shaoyun Han, founder, chairman and CEO of Tarena, had entered into definitive agreements to purchase an aggregate of $90.5M of ordinary shares in the Company from existing pre-IPO shareholders, which are funds managed by affiliates of Goldman Sachs and IDG Technology Venture Investments, LLC. Pursuant to these agreements, KKR has agreed to purchase 6,826,263 Class A ordinary shares, representing an approximately 13% stake in the Company, from the selling shareholders for $70M, and Shaoyun Han has agreed to purchase 2,000,000 Class A ordinary shares, representing an approximately 3.8% stake in the company, from the selling shareholders for $20.5M, in private transactions. Mr. Han intends to fund the purchase through the issuance by an entity wholly owned by Han of a convertible bond to KKR.
08:02 EDTKKRTransphorm announces new $70M investment led by KKR
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