Archer Capital News
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Last week’s court ruling against a group of Chesapeake Energy Corp. bondholders exposes another risk for investors seeking gains in a market where securities valuations are already at record highs.
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Chesapeake Energy Corp. won a bid to carry out an early call of $1.3 billion in bonds at par after a judge rejected arguments by the notes’ trustee, Bank of New York Mellon Corp., and investors including River Birch Capital LLC.
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Bain Capital LLC agreed to buy MYOB Pty Ltd., an Australian maker of business-management software, for an undisclosed sum as it seeks to benefit from faster- growing Asia-Pacific economies.
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Trafigura Beheer BV agreed through its Puma Energy unit to acquire Australian petrol station owner Ausfuel from Archer Capital and other investors to become the nation’s largest independent fuel retailer.
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Archer Capital, an Australian private-equity firm formed in 1996, aims to raise A$1.25 billion ($1.3 billion) from investors for a fifth fund.
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Archer Capital, a private equity firm, agreed to buy a controlling stake in the V8 Supercars Australia auto-racing championship in a transaction that values the series at about A$300 million ($316 million).
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Bank of New York Mellon Corp. and a group of noteholders were panned by a judge over their bid to force Chesapeake Energy Corp. to pay $400 million in interest if it loses a lawsuit to redeem $1.3 billion in notes early at par.
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Lend Lease Group, Australia’s biggest property developer, agreed to sell its elderly care business for A$270 million ($276 million) to a company linked to buyout firm Archer Capital.
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Archer Capital is among a list of private equity and pension funds said to have expressed an interest in Pacific Equity Partners’ Hoyts cinema business, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. Pacific Equity Partners has sent out confidentiality agreements for the sale of the A$500 million-plus business, without committing to a formal timetable, according to the report.
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Chesapeake Energy Corp. was told by a judge to meet with Bank of New York Mellon Corp. and investors this weekend to agree on a schedule for a rapid trial over whether the gas company was too late yesterday when it issued a notice to redeem $1.3 billion in bonds early at par.
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