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blackstone group lp/the (BX) Key Developments

Summit Materials Reportedly Mulls Listing

Summit Materials, LLC, co-founded by The Blackstone Group L.P. (NYSE:BX) and Silverhawk Capital Partners, LLC is preparing for an initial public offering in 2014 valuing Summit Materials, LLC at about $2.5 billion, Bloomberg reported citing people with knowledge of the matter. The Goldman Sachs Group, Inc. (NYSE:GS) and Citigroup Inc. (NYSE:C) are understood to be appointed to manage the share sale. Representatives for The Blackstone Group L.P., The Goldman Sachs Group, Inc. and Citigroup Inc. declined to comment. Representatives for Silverhawk Capital Partners, LLC and Summit Materials, LLC didn’t immediately respond to requests for comment.

Computer Sciences Reportedly Seeks LBO Of PIFS

Computer Sciences Corporation (NYSE:CSC) contacted private-equity firms including The Blackstone Group L.P. (NYSE:BX) and Bain Capital, LLC to gauge their interest in a leveraged buyout, Bloomberg reported citing people with knowledge of the matter. It is believed that the talks are at an early stage and may not result in a deal. Rich Adamonis, a spokesman for CSC, said the company doesn’t comment on market rumors. Christine Anderson, a spokeswoman for Blackstone, declined to comment, as did Charlyn Lusk, a spokeswoman for Bain at Stanton Public Relations & Marketing. CSC rose 5.3% to $59.62 in New York trading.

Centre Parcs Reportedly Eyes £2 Billion Sale Or Float

The Blackstone Group L.P. (NYSE:BX), the owner of Center Parcs (UK) Group Limited is gearing up for a £2bn sale or stock market flotation. Blackstone has hired Rothschild to undertake a review of strategic options for Centre Parcs. Blackstone is expected to consider a range of options including a refinancing that would enable it to take out a sizeable dividend ahead of a sale or float. However, it is unlikely anything will happen before next year, a source close to the situation said.

Goldman And Rhone Reportedly Close To Acquire Neovia

The private equity arm of The Goldman Sachs Group, Inc. (NYSE:GS) and Rhone Capital, L.L.C. are nearing a deal to acquire Neovia Logistics LLC for more than $1 billion, including debt, according to people familiar with the matter. This bid has prevailed over a rival bid from The Blackstone Group L.P. (NYSE:BX), the people said. The deal is expected to be finalized in later September 2014. The sources asked not to be identified because the deal talks are confidential. Reuters added that representatives for Neovia, Platinum Equity, LLC Caterpillar Inc. (NYSE:CAT), Goldman Sachs and Rhone Capital did not immediately respond to requests for comment, while Blackstone declined to comment.

Orica Reportedly Received Offers For Chemicals Division

Orica Limited (ASX:ORI) has reportedly received indicative bids for the sale of non-mining chemicals unit. The shareholders of Orica are not convinced if the company will be able to sell the unit by the end of 2014. Bain Capital, LLC, Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), The Carlyle Group LP (NasdaqGS:CG), Pacific Equity Partners and The Blackstone Group L.P. (NYSE:BX) were among parties to submit offers and they expect formal second-round diligence to start in the coming fortnight. Citibank, Goldman Sachs and Lazard have been hired to handle the sale.

 

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