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blackstone group lp/the (BX) Key Developments

Blackstone and TPG Capital Eye Kensington From Investec

The Blackstone Group L.P. (NYSE :BX) and TPG Capital Management are in advanced talks to acquire Kensington Group Plc from Investec Limited (JSE:INL), Sky News reported. The deal has not yet been finalized and could be announced in the week ending August 22, 2014, according to insiders. Blackstone and TPG are said to have lined up a new management team to take the helm once the deal completes and are expected to make substantial amounts of capital available for Kensington's growth. Blackstone, TPG and Investec declined to comment.

Heartland Food Reportedly On The Block

Blackstone Group LP is seeking a buyer for Heartland Food LLC., a person with knowledge of the situation said. Blackstone is looking to unload the business, which it acquired through its GSO Capital Partners LP unit, according to the person.

Bogner Fashion Reportedly Hires Advisors For Sale

The family owned Willy Bogner GmbH & Co. KGaA has appointed The Goldman Sachs Group, Inc. (NYSE:GS) to find a buyer, Reuters reported citing sources familiar with the matter. Willy Bogner GmbH & Co. KGaA will be marketed to private equity groups including Permira Advisers Ltd., The Blackstone Group L.P. (NYSE:BX), The Carlyle Group LP (NasdaqGS:CG), Ardian and 3i Group plc (LSE:III). Bogner Fashion, The Goldman Sachs Group, Inc. and potential bidders declined to comment.

Blackstone Reportedly Nears Deal For Shell Gas Stake

Royal Dutch Shell plc (ENXTAM:RDSA) is preparing to dispose of its 50% stake a Louisiana gas field to The Blackstone Group L.P. (NYSE:BX) for $1.2 billion, as the oil and gas group retreats from one of its souring investments in North America. A person familiar with the situation said Blackstone is set to acquire Shell’s stake in the Haynesville Shale formation, that rests under large parts of Arkansas, Louisiana and Texas, as soon as this week. The person cautioned that deal talks could still fall apart. However, a deal would mark the latest sign Blackstone’s seeking to swoop in and take advantage of struggling investments in gas fields. Shell owns a 50% stake in the Haynesville formation with the other half owned by Encana Corporation (TSX:ECA).

KKR, Blackstone and TPG Capital Management Agree to Pay $325 Million to Settle a Federal Lawsuit Alleging Collusion on Club Deals

KKR & Co. (KKR), Blackstone (BX) and TPG Capital Management, agreed to pay $325 million to settle a federal lawsuit that alleged they colluded with other PE firms to not outbid each other on corporate takeovers in order to keep prices down. The companies, who did not admit wrongdoing, will apportion the payment among themselves, according to a filing in the U.S. District Court in Boston. The case was pursued by investors who sold their shares in 27 companies to a number of private-equity firms that teamed up to acquire multibillion-dollar companies, a practice known as club deals.

 

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