Expanded Real-time Services on Deutsche Borse Investor Portal

Pubished July 3rd, 2009

Deutsche Börse expands its range of real-time services, thus increasing transparency for private investors. The investor portal www.boerse-frankfurt.de now offers real-time insight into the order book of the fully electronic trading system Xetra. Private investors, investment advisors and portfolio managers can now obtain the prices of all shares traded on the Deutsche Börse platforms, in real time. Deutsche Börse thus provides private investors with easy access to information which was largely only available to professional traders before, and aids in making investment decisions with insight into the order book.

For a monthly price of €23.80, the website displays the ten best bid and ask prices of at least 10,000 equities in Xetra trading. Floor trading prices are also displayed in real time. The prices of all bonds, funds, certificates and warrants will continue to be disseminated free of charge in real time. Real-time spreads of 160 shares in the selection indices DAX®, MDAX®, SDAX® and TecDAX®, for which the Frankfurt Stock Exchange’s lead brokers ensure private investors an execution at the average trading spread, are also available free of charge.

The status of each of the indices calculated by Deutsche Börse Market Data & Analytics is also available in real time. A subscription to the index package, which includes around 2,700 indices, can be obtained for €2.38. This service includes the prices of the exchange traded funds (ETFs) and the exchange traded commodities (ETCs) with an order book depth of the ten best buy and sell offers on Xetra.

Since January, visitors to the investor portal www.boerse-frankfurt.de/orderbuch have been able to track the price and number of shares for all buy and sell orders placed in the Xetra trading system with a 15-minute delay and free of charge. The Xetra mask lists the stocks according to the index they are contained in. Investors can use the order book to track individual stocks or compile their own list to check the tradability of less liquid stocks, for example.

About Xetra
Xetra is Deutsche Börse’s fully electronic trading system to which some 250 banks and brokerage firms in 18 countries are connected. Some 400,000 instruments are traded on Xetra. Buy and sell orders from licensed traders are matched in a central computer. In continuous trading, Xetra automatically checks every buy and sell order for executability. If there is a suitable counterorder, the transaction is executed immediately. In auctions, Xetra determines the price which would generate the highest turnover for all open orders. Deutsche Börse is constantly enhancing its in-house system, thus guaranteeing the highest standards in terms of reliability, security, speed, transparency, innovation and cost efficiency.

About www.boerse-frankfurt.de
Deutsche Börse’s investor portal is aimed specifically at private investors, investment advisors and portfolio managers and offers up-to-date price, trading and company data as well as financial news and stock exchange know-how.

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Citi Signs Definitive Agreement to Sell NikkoCiti Trust and Banking Corporation

Pubished July 2nd, 2009

Nikko Citi Holdings Inc. (”Nikko Citi Holdings”) announced that a definitive agreement has been executed to sell all of the shares of NikkoCiti Trust and Banking Corporation (”NikkoCiti Trust”) to Nomura Trust & Banking Co. Ltd. (”Nomura Trust”). Nomura Trust will pay an all-cash consideration of 19 billion yen (US$197.1 million at an exchange rate of JPY96.42 to US$1.00), subject to certain purchase price adjustments, at the closing. The sale is expected to close in the fourth quarter of 2009, pending regulatory approvals and other closing conditions.

“This transaction is in line with Citi’s stated global priority to allocate capital and focus its resources on the best growth opportunities. Citi will maintain a strong presence in securities services and transaction services in Japan. We see significant opportunity for these businesses in Japan, which play to Citi’s key strengths” said Nikko Citi Holdings CEO Douglas Peterson.

Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Certain statements in this document are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citi’s filings with the U.S. Securities and Exchange Commission.

NikkoCiti Trust and Banking Corporation
NikkoCiti Trust and Banking Corporation (”NikkoCiti Trust”) is a Citigroup subsidiary Established in August 1993 as Nikko Trust Banking Corporation, it changed its name to NikkoCiti Trust and Banking Corporation in 2001, following the transfer of 50% of its shares from Nikko Securities to Citigroup. NikkoCiti Trust is based in Tokyo Japan. NikkoCiti Trust is a trust banking vehicle that provides fiduciary / trustee services to Investment Trust Management Companies.

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Cazenove Capital Management Launches New Website

Pubished July 2nd, 2009

Investment management firm Cazenove Capital Management has launched a new website at http://www.cazenovecapital.com/ The site was developed and delivered by IS Solutions, incorporating a new design into a template-based site structure for consistency and flexibility. It has been based on EPiServer’s content management system, enabling automation of the publishing process and allowing content experts throughout the organisation to author and publish material quickly and easily.

The new site enhances the Cazenove brand by creating a more visually appealing look and feel, an improved user experience and greater depth and richness of content. This includes extensive information on investment funds as well as on Cazenove Capital’s leading private wealth management and charity services. The improved content has been made possible through the flexibility and ease of use of the EPiServer content management system and will help Cazenove Capital promote its services online to its target markets.

IS Solutions was responsible for the specification and development of the new site and the underlying content management technology. Both were delivered to Cazenove Capital to test, create the site structure and load content. EPiServer training was also provided and IS Solutions is continuing to provide support to Cazenove Capital’s in-house team now the site is live.

Victoria Woods, Head of Marketing at Cazenove Capital commented: “This is a significant development of our digital platform and will give us greater control and flexibility in the way we deliver content to our target market. EPiServer will also give us scalability and we are already working on a number of enhancements to our site.”

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Software Labs Named a CRN Emerging Technology Vendor

Pubished July 2nd, 2009

Software Labs Inc, a developer of proven data integration and data migration solutions, today announced it has been selected by Everything Channel as a CRN Emerging Technology Vendor. Software Lab’s xFusion Automator and Migrator products, with their powerful and easy to use workflow engine automate data migration and business processes for SAP, Sage, and Microsoft ERP/CRM solutions. CRN’s Emerging Technology Vendor list captures companies that are delivering high margins for solution providers with innovative and easy-to-use technology that undercuts industry giants.

xFusion Automator is a proven automation tool with pre-built templates that takes care of sales order automation, contact management, inventory and price list updates and many other process automation tasks. Automating business processes are a necessity for any department and can reduce operational costs by up to 40 percent.

Software Labs is 100% committed to selling xFusion through leading ERP and CRM resellers and solution providers. Our Fusion partner program provides robust margins, training, marketing, sales, and technical support assistance to channel partners.

“Solution Providers seek out innovative vendors that create new and innovative ideas to help them build revenue and customer loyalty. Our Emerging Tech list is where Solution Providers go to find these vendors. We congratulate all of the vendors for their innovation and creativity and their commitment to the technology sales channel,” said Robert C. DeMarzo, senior vice president and editorial director, Everything Channel.

The vendors who make the CRN Emerging Technology Vendor list were founded in 2001 or later, have revenue under $1 billion and have an active U.S. channel strategy. Final selection to the Emerging Technology Vendor list was made by the CRN editorial team after a review of submitted information.

“We are delighted to be named as a CRN Emerging Technology Vendor for 2009, said Pradeep Tapadiya, CEO of Software Labs, it is a real testimonial to our xFusion products that reduce customer operational costs and our commitment to making ERP/CRM Solution Providers successful, especially under the current economic environment”

Software Labs
Founded in 2002, Software Labs, Inc. delivers proven data integration and data migration solutions that are designed to increase business process efficiencies and improve business decision-making. Its xFusion suite of software products and services enable businesses across industry to manage and use critical information swiftly, easily and affordably. Software Labs is headquartered in Sacramento, CA, and currently serves customers and collaborates with partners in North America, Europe and Asia Pacific. The company partners with numerous leading technology, reseller and service providers. For more information, please visit our website at www.softlabsco.com or call 916-773-6272 ext.130 or sales@softlabsco.com.

Everything Channel (www.everythingchannel.com, www.channelweb.com)
Everything Channel is the one-stop shop for accessing, enabling, managing and accelerating technology sales channels. From branding and recruiting to marketing and sales, Everything Channel offers technology marketers the unmatched breadth and depth of global brands and market intelligence combined with unparalleled audience loyalty and credibility serving all technology sales channels through an extensive database. Everything Channel provides innovative sales and marketing solutions to arm the sellers of technology with the resources they need to achieve measurable and significant results.

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Gastar Exploration Announces Sale of Australian Assets

Pubished July 2nd, 2009

Gastar Exploration Ltd. (NYSE Amex: GST and TSX: YGA) announced today that it has entered into definitive agreements with Santos QNT Pty Ltd and Santos International Holdings Pty Ltd, affiliates of Santos Ltd (ASX: STO) for the sale of all of Gastar’s interest in Petroleum Exploration Licenses 238, 433 and 434 in New South Wales, Australia, along with the sale of the shares of Gastar Power Pty Ltd, the entity holding Gastar’s 35% interest in the Wilga Park Power Station. Gross pre-tax proceeds from the transaction are expected to be approximately US $240 million (AU $300 million). Upon final closing, Gastar’s net proceeds, after payment of Australian income taxes, is expected to be approximately US $175 million (AU $219 million).

The Santos transaction is expected to close on July 10, 2009, subject to satisfaction of certain ordinary closing conditions, with an initial payment before taxes of US $224 million (AU $280 million) on that date and the balance to be remitted to Gastar upon the receipt of certain governmental approvals. Gastar plans to use the proceeds from this transaction to repay outstanding debt under its secured revolving credit facility, to retire its $25 million secured term loan and to pay in full Gastar’s $30 million convertible subordinated debentures upon their maturity in November 2009. Remaining proceeds are expected to be used to finance an offer to repurchase any and all of Gastar’s $100 million 12-3/4% senior secured notes in accordance with the terms of the governing indenture. Thus, the transaction is expected to provide sufficient funds to repay substantially all of Gastar’s outstanding debt and reduce annual cash interest expense by as much as approximately US $20 million.

In addition, Gastar may be paid an additional US $16 million (AU $20 million) in early 2010 if the independently certified gross 2P reserves (SPE proved plus probable) for the PEL 238 coalbed methane project are at least 1.3 Tcf at year-end 2009. At Gastar’s election, the reserve related payment, if applicable, may be either in cash, shares of Santos, or a combination thereof. In addition, Gastar has retained the right to receive up to US $10 million in future cash payments from Eastern Star Gas Ltd (ASX: EGG and OTCQX: ESGLY) if certain previously negotiated production thresholds are achieved.

J. Russell Porter, Gastar’s President and Chief Executive Officer, commenting on the transaction and related actions said, “This is clearly a transformative transaction for Gastar. We pursued multiple avenues in order to address upcoming debt maturities and to fund the future capital expenditures necessary to continue the development of our Australian assets and our North American assets. After examining all alternatives available, we determined that the sale of the Australian assets was the most prudent course and provided the most attractive near term and future benefit to our shareholders.

“Gastar will maintain its current ownership in the East Texas Deep Bossier and Marcellus Shale plays and plans to proceed with the development of those assets while limiting capital expenditures to excess cash flow generated by its producing assets. We will now have the financial resources to be a substantially debt-free entity holding high growth North American assets and will be financially positioned to execute our strategy in both the Deep Bossier and Marcellus Shale plays.”

Following the completion of the transactions with Santos, Gastar intends to implement a 1-for-5 reverse share consolidation that was authorized by Gastar’s shareholders in June 2008. As a result of the consolidation, Gastar would have approximately 49.6 million basic common shares outstanding. The share consolidation is expected to be effected on or about July 31, 2009, subject to further announcement.

Gastar has also elected to voluntarily de-list its shares from trading on the Toronto Stock Exchange (TSX) following the completion of the transaction with Santos. In 2009 to date, less than 1% of the total daily trading volume in Gastar’s common shares were executed on the TSX. Trading on two exchanges has become unduly costly and burdensome without providing any significant additional liquidity for Gastar’s shareholders.

“The consolidation of the number of outstanding shares and the de-listing from the Toronto Stock Exchange are actions we have wanted to take for some time,” added Mr. Porter. “We believe that the consummation of these actions, on the back of this transformative de-leveraging of the Company, will benefit our shareholders in numerous ways in the future.”

Tudor, Pickering, Holt & Co. Securities, Inc. acted as financial advisor in connection with the transaction and, in that capacity, provided a fairness opinion to the Board of Directors of Gastar.

About Gastar Exploration

Gastar Exploration Ltd. is an exploration and production company focused on finding and developing natural gas assets in North America. The Company pursues a strategy combining deep natural gas exploration and development with lower risk CBM and shale resource development. The Company owns and operates exploration and development acreage in the deep Bossier gas play of East Texas and Marcellus Shale play in West Virginia and Pennsylvania. Gastar’s CBM activities are conducted within the Powder River Basin of Wyoming. For more information, visit our web site at www.gastar.com.

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Euro RSCG Life Acquires Medicom Group to Further Strengthen Its Global and European Medical Education Offering

Pubished July 1st, 2009

Euro RSCG Life, the world’s largest fully integrated global health marketing and communications group, today announced the acquisition of Medicom Group, a UK-based medical communication agency.

Medicom Group, headquartered in West London, UK, has twice been named Medical Education Consultancy of the Year by Communique (2008 and 2007) as well as 2008 Marketing Consultancy of the Year by PharmaTimes.

“I am delighted to welcome Medicom Group into the Euro RSCG Worldwide network,” said Michel Nakache, Euro RSCG Life Worldwide Managing Partner, upon announcing the acquisition. “This will enhance our offering for our clients and prospects in medical communications and market access at both the global and European levels. Because our strategy has been based on the creation of one single brand, Medicom Group becomes Euro RSCG Life Medicom.”

Michele Raspone, CEO EMEA & ASIA, added, “This acquisition makes our strategy real and actionable. Strengthening our Med Coms offering today is key to the future of our network at the regional and country levels, and the inclusion of the Medicom Group will enhance our already compelling and customized offering. Euro RSCG Life Medicom will assume a leading role in our Med Ed offering by coordinating our regional effort and putting at the core Med Coms and Market Access.”

Martin Ellis, Chairman and main shareholder of Medicom Group, concluded by saying, “Along with my managing team, I am very happy and proud to join Euro RSCG Life. We believe this gives us exciting opportunities to continue growing and makes Medicom Group a truly global brand. We will bring our knowledge, know-how and professional style in Med Coms and Market Access to better service Euro RSCG Life clients. In parallel, the new enterprise will provide existing Medicom clients with a European and worldwide perspective.”

About Euro RSCG Worldwide

Euro RSCG Worldwide, a leading integrated marketing communications agency and Advertising Age’s and Campaign’s 2006 Global Agency of the Year, is made up of 233 offices located in 75 countries throughout Europe, North America, Latin America, Asia-Pacific and Middle-East. Euro RSCG provides advertising, marketing services, corporate communications, and interactive solutions to global, regional and local clients. The agency’s client roster includes Air France, BNP Paribas, Charles Schwab, Citigroup, Danone Group, Heineken USA, IBM, Jaguar, Kraft Foods, Lacoste, L’Oreal, New York Stock Exchange, PSA, Peugeot Citroen, Pernod Ricard, Reckitt Benckiser, sanofi-aventis, and Schering-Plough. Headquartered in New York, Euro RSCG Worldwide is the largest unit of Havas, a world leader in communications .

About Medicom Group

Integrating medical communications across the healthcare arena to provide comprehensive, innovative and focused communication solutions, Medicom Group’s experience spans numerous disease areas and ranges from pre-launch creative concepts and marketing plan development to post-launch communications. Medicom Group has twice been named Medical Education Consultancy of the Year by Communique (2008 and 2007) as well as 2008 Marketing Consultancy of the Year by PharmaTimes. The agency is renowned for its expertise in UK and international healthcare communications, from peer-review publication planning and consumer education to strategic consultancy and effective tactical implementation.

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GSI Group Announces Non-Binding Term Sheet Regarding Restructuring of Senior Notes

Pubished July 1st, 2009

GSI Group Inc. (NASDAQ: GSIG) today announced that it has reached agreement on a non-binding term sheet (the “Term Sheet”) with certain beneficial owners (the “Investors”) holding greater than 75% of the outstanding aggregate principal amount of its 11% Senior Notes (the “Notes”) to restructure the Company’s outstanding obligations under the Notes. Pursuant to this term sheet, the Company would exchange the Notes for (a) a new $95 million secured loan due January 2014, and (b) common stock representing 80% of the Company’s fully diluted equity ownership. The interest rate on the new term loan would be 12.25%, and at the Company’s option, would be payable in kind at a compounded rate of 13%. As part of the proposed transaction, existing shareholders would receive warrants to purchase 10% of the post-transaction fully diluted outstanding shares of the Company at an imputed price of $1.10 per share and 10% of the post-transaction fully diluted outstanding shares of the Company at an imputed price of $2.00 per share. The Company is currently engaged in discussions with the Investors regarding implementation of the proposed transaction and attendant definitive documentation. A copy of the Term Sheet is attached to this press release.

Commenting on the potential restructuring, Sergio Edelstein, Chief Executive Officer of the Company, stated “The current economic downturn has resulted in a significant decline in historical and projected operating profit. The Company is pursuing the potential restructuring plan in order to address the need to significantly deleverage the Company in light of these circumstances. This reduction in our debt load and the anticipated improvement in our liquidity will give us a strong financial foundation upon which to grow the Company.”

Rick Black, Chairman of the GSI Board of Directors stated “The Board fully supports management’s efforts to rationalize the Company’s capital structure in light of the current economic environment and in order to maximize the interests of all stakeholders. We believe that the proposed restructuring will position the Company to capitalize on its strong industry position as our markets recover.”

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Clifford Chance Advises on $1.09bn Saudi Electricity Company Loan

Pubished June 29th, 2009

Clifford Chance recently announced that a team in the Washington D.C. office advised Export Import Bank of the United States and Export Development Canada with respect to their agreement to loan $1.09bn to Saudi Electricity Company. The Clifford Chance team was supported by Al-Jadaan & Partners in Riyadh.

The Saudi Electricity Company said in a statement that the loan was meant to finance the purchase of power generation units from the United States. The units will help boost power generation capacity in Riyadh, the Saudi capital, in addition to some areas in the eastern part of the country by about 2,900 megawatts.

The Clifford Chance team was lead by partner Lori Bean and included Colleen Grygier in DC, as well as Mohamed Hamra-Krouha, a Clifford Chance partner currently on secondment to Al Jadaan. The Al Jadaan team also included Abdulaziz Al-Abduljabbar and Philip Yip.

Clifford Chance is one of the world’s leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the four key markets of the Americas, Asia, Europe and the Middle East, and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 30 offices in 21 countries with 3,800 legal advisers and also operates a ‘best friends’ arrangement with AZB & Partners in India and a co-operation agreement with Al-Jadaan & Partners Law Firm in Saudi Arabia.


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Pali Capital Expands High Yield Effort in New York

Pubished June 29th, 2009

Pali Capital, Inc., an independent global financial services firm announced today the continued expansion of its High Yield Sales and Trading team with the hiring of Matt Goldfarb and Peter Levine from Tradition (North America) Inc., and William Tillinghast from SMH Capital in New York.

“Pali High Yield is very excited about these additions to the team,” said Chuck Howard, Managing Director and Head of High Yield at Pali. “Matt and Peter immediately place our firm in the leveraged loan sales and trading business, further rounding out Pali’s product set.” He added, “Bill Tillinghast brings deep industry experience in high yield and distressed sales, and we expect him to make a significant contribution to our clients.”

While at Tradition (North America) Inc., Matt Goldfarb was co-manager of the loan trading desk that handled institutional accounts including hedge funds, mutual funds, CLOs, insurance companies and private equity firms. Prior to Tradition, Mr. Goldfarb was a Director at The Blackstone Group/GSO Capital Partners where he was a senior member of that firm’s credit team. Mr. Goldfarb came to Blackstone from Pirate Capital, LLC, and prior to that he was Corporate Counsel at Icahn Associates Corp. where he was involved with transactional matters related to the firm’s distressed investments in the telecommunications, gaming, textiles and energy sectors. Mr. Goldfarb earned his BA from the University of Wisconsin and his JD from Fordham Law School.

Peter Levine was most recently an Assistant Trader and Loan Closer at Tradition (North America) Inc., where he gained extensive experience ensuring the closing process for levered loan trades. While at Tradition, Mr. Levine brokered both high yield bonds and gained exposure to distressed and par bank debt contracts and credit agreements. Mr. Levine came to Tradition from LM Isis Capital Partners where he was a trading associate handling CDS, LCDS, various indices, and bank debt amongst other products. Prior to LM Isis Capital Partners, Mr. Levine worked as a production assistant at ESPN, and he began his career as an English teacher working for the Nova Corp. in Tokyo, Japan. Mr. Levine earned his BA from Skidmore College.

William Tillinghast was most recently a member of the Investment Banking and Private Capital Group at SMH Capital. Mr. Tillinghast brings to Pali knowledge of private placements focusing on PIPEs, debt, private equity and venture capital. Mr. Tillinghast came to SMH Capital from DebtTraders, Inc. where he was a salesman focused on selling a variety of distressed securities to institutional investors. Prior to that, Mr. Tillinghast was a managing director at Schultze Asset Management, LLC where he was marketing a distressed hedge fund, and prior to Schultze, Mr. Tillinghast was a senior salesman at CIBC Oppenheimer where he focused on both emerging market debt as well as high yield and distressed securities. Mr. Tillinghast earned his BS from Lehigh University and his MBA from Columbia Business School.

About Pali Capital

Pali Capital, Inc., is the U.S.-based division of Pali Holdings, Inc., an independent, global financial services firm and investment bank servicing institutional clients since 1995. Pali offers equity, fixed income, and derivatives sales and trading, equity research, structured finance, and corporate finance and advisory services. The firm maintains primary offices in New York and London, with additional offices in San Francisco, Chicago, Minneapolis, Boston, Summit, NJ and Edinburgh, Scotland. Please visit www.pali.com for additional information.


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Court Square Capital Completes Acquisition of Wyle

Pubished June 29th, 2009

The acquisition of Wyle, one of the nation’s preeminent engineering services companies, by Court Square Capital, a leading private equity firm, closed on Friday. Terms of the transaction are not available.

“We are excited about Wyle’s future prospects with a strong new financial partner which will facilitate strategic investments to achieve the company’s growth aspirations,” said George Melton, Wyle’s CEO and president.

The seller, the private equity firm Littlejohn & Co., acquired Wyle in 2003 and made additional investments in 2005 and 2008 to significantly broaden the company’s service offering and customer base.

Wyle generates approximately $800 million in annual sales and has more than 3,800 employees at 40 primary locations around the country. All aspects of Wyle’s operations, organization structure, and management team remain unchanged.

About Court Square Capital

Court Square Capital is a leading private equity firm. Since 1990, the firm has been involved in approximately 150 transactions across a wide array of sectors including, aerospace & defense, industrials, business services, technology, healthcare and media. Court Square Capital currently manages approximately $6 billion of aggregate capital commitments. The firm acquired Wyle through its Fund II, which is a $3.1 billion private equity fund that was raised in 2007.

About Littlejohn & Co.

Littlejohn & Co. is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth and that can benefit from its operational and strategic approach. The firm’s professionals manage three funds with committed capital of approximately $1.6 billion.

About Wyle

Wyle is a leading provider of high tech aerospace engineering and information technology services to the federal government on long-term outsourcing contracts. The company also provides biomedical and engineering services for NASA’s human space missions; test and evaluation of aircraft, weapon systems, networks, and other government assets; and other engineering services to the aerospace, defense, and nuclear power industries.


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