Providence Equity Partners announced that Renée Beaumont will join the firm as a Managing Director and Global Head of Business Development, effective May 15. She will oversee all business development, marketing and investor relations activities globally across the firm’s private equity and credit funds. Ms. Beaumont joins Providence from Goldman, Sachs & Co., where since 2004 she has served in a variety of senior positions, including most recently as a Managing Director in the firm’s Merchant Banking Division.

A consortium of Providence Equity Partners LLC; The Carlyle Group LP (NasdaqGS:CG); led by Samena Capital is in talks to pick a majority stake in Reliance Globalcom Ltd. The transaction is expected to be close by the end of May 2013. According to sources, the consortium could buy about 80% stake in Reliance Globalcom for $1-1.2 billion. The stake sale is part of the restructuring exercise being undertaken by the Reliance Communications Ltd. (BSE:532712) to bring down about INR 350 billion debt. “Samena Capital, in a proposed consortium with certain other global PE funds, is at an advanced stage of the due diligence process and completion of definitive documents in relation to the acquisition of Reliance Globalcom, our global communications services business unit,” Reliance Communications said. Reliance Globalcom was in talks with Bahrain Telecommunications Company BSC (BAX:BATELCO). “RCom and Samena are no longer in discussion with Batelco for the purposes of the transaction,” Reliance Communications added.

JCDecaux SA and Clear Channel Outdoor Holdings Inc. have reportedly pulled out of the formal bidding process to acquire CBS Outdoor Inc. from CBS Corporation. The people close to the auction said about five private equity groups, including Providence Equity Partners LLC, Platinum Equity, LLC and GMT Communications Partners LLP, had proceeded to the second round of bidding. The sale is reportedly expected to be completed by the end of summer of 2013 and is expected to be valued at €200 million-€300 million, these people said. However JCDecaux and Clear Channel are understood to still be interested in picking up parts of CBS Outdoor should the company be split up in any sale. CBS Outdoor is looking to divest its international operations in Europe and Asia, covering key markets such as France and the UK, as well as Ireland, the Netherlands, Italy, Spain and China.