Russian investment bank Renaissance Capital sells stake to Mikhail Prokhorov

Russian investment bank Renaissance Capital has sold a 50 per cent stake in the company to finance tycoon Mikhail Prokhorov for US$500 million (£270.1 million).

Other Done Deals

  • H&T Group has acquired Lewins, an independent pawnbroker and jeweller in Orpington, Kent, for an undisclosed sum
  • GreenVolts, a solar technology company, has secured $30 million (£16.2 million) in funding from Oak Investment Partners
  • McAfee, an IT security company, has acquired Secure Computing for $465 million (£251.2 million)
  • Sims Group has bought Weinert Recycling, a ferrous and non-ferrous scrap metal recycler with operations in New York. The financial terms of the deal were not revealed
  • MIG has provided £2.7 million in funding to biotechnology company Corimmun. The funding also included new investors GC Fund, Bayern Kapital and KfW Bank as well as existing backers High-Tech Gründerfonds, Bio-M and SeedFonds Bayernund
  • Sigefi Private Equity-backed construction company Batilor has merged with sector rival Babeau Seguin to form Groupe Performance Construction
  • Gem Diamonds, a FTSE-250 diamond company, has announced the acquisition of Calibrated Diamonds Investment Holdings for £3.2 million
  • Charteris, a business and IT consultancy, has bought SIG Consulting for a base consideration of £1.9 million plus adjustments for surplus net working capital and performance

Deals in the pipeline

  • Brulines Group, a provider of real-time monitoring systems and data management services for the UK leisure sector, has entered into an agreement to purchase Edensure for £220,000. The completion date is set for the end of October
  • Precision Technologies has announced its interest in making an offer for quoted engineer 600 Group. The bid will be Precision’s second offer for the target, which is valued at around £13 million
  • Kookmin Bank is seeking to sell back its 14.9 per cent stake in ING Group’s South Korean unit to ING, which owns the remaining 85 per cent of the unit, for around $532 million (£287.6 million)
  • Cisco has announced its plans to acquire privately-held Jabber, a provider of presence and messaging software
  • Jutal Offshore Oil Services and Hongzhou Shipping have agreed to set up a joint-venture company, which will enter into an acquisition agreement with Hongzhou Shipping to acquire a vessel named ‘Hongli 900’ for £76.7 million
  • Gap announced that it has agreed to acquire Athleta, a women’s sports and active apparel company, for some $150 million (£81 million)
  • Lochard Energy has signed an agreement to acquire an 18.75 per cent interest in natural gas and oil leases in the Schuster Flats prospect from First City Oil and Gas for £301,000
  • Carphone Warehouse is reported to have made an offer of “less than £450 million” for Tiscali’s UK operations, in an acquisition that would make Carphone Warehouse the UKs largest ISP

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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