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Apax in exclusive talks for Danish firm ISS

first_img Tags: NULL Apax in exclusive talks for Danish firm ISS alison.lock whatsapp Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof PRIVATE equity firm Apax Partners is in exclusive talks to buy Danish cleaning giant ISS for $8.5bn (£5.3bn) in what could be Europe’s largest buyout since the credit crisis.ISS’ owners, Goldman Sachs and Swedish buyout firm EQT, have been considering an initial public offering (IPO) or a sale of the company, Reuters sources said.It is one of the world’s largest facilities services firms, employing more than 500,000 people.Apax beat bids of two rival private equity consortia to enter exclusive talks – one made up of Blackstone, Bain Capital, Nordic Capital and Clayton Dubilier & Rice, and another made up of CVC and Apollo.Apax is now talking to the sovereign wealth funds and large pension funds that invest in its €11.2bn euro buyout fund about investing directly in ISS, the source told Reuters.Apax’s maximum equity investment in deals is around €600m, leaving it to raise more than $2.5bn from co-investors. That would leave about $5bn to be funded through debt. The group has a couple of months to round up the investment, the person said.ISS’s main peers are UK security services group G4S, French catering and services company Sodexho SA, UK catering services provider Compass Group and Swedish security services company Securitas AB.Apax declined to comment. EQT and Goldman Sachs were not immediately available for comment. Wednesday 8 December 2010 10:46 amcenter_img Share Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemlast_img read more

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Fiat’s shares rally after split as firm eyes Chrysler stock

first_img Fiat’s shares rally after split as firm eyes Chrysler stock whatsapp Tags: NULL KCS-content SHARES in a slimmer Fiat and sister company Fiat Industrial made a choppy debut on the Milan market yesterday, while chief executive Sergio Marchionne said Fiat could increase its stake in Chrysler past 50 per cent this year. Fiat SpA, which contains Fiat’s car and engine business, opened at €7.03 (£6.07) yesterday, while Fiat Industrial traded at €8.99, a three per cent increase from the €15.43 closing price of the combined group on 30 December before the split. Fiat rallied almost 50 per cent last year. Fiat Industrial, the company whose assets include truck maker Iveco and tractor company CNH Global, has been split from the car-making business Fiat to allow the firms to forge different tie-ins.The new Fiat Industrial shares were indicated to debut at €6 according to analysts. Fiat, which now only comprises the rump auto group, was indicated to trade at €7.50. Fiat and the Milan bourse did not set reference prices that are sometimes used to guide investors. The split, which main investor John Elkann has called “a defining moment” in the history of the century-old Italian carmaker, is part of chief executive Sergio Marchionne’s efforts to revamp Fiat among Europe’s biggest industrial turnarounds. The plan could speed up a merger with US carmaker Chrysler, in which Fiat owns 20 per cent, and free Marchionne’s hands for other growth initiatives. However, Marchionne told reporters yesterday he doesn’t plan to merge operations with Chrysler, but added that Fiat could lift its stake to over 50 per cent this year if Chrysler returns to the stock market. “If Chrysler is listed this year, we should think about speeding up the option of increasing our stake,” said Marchionne. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Monday 3 January 2011 10:58 pm Show Comments ▼ Sharelast_img read more