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Private Capital

Under-pressure Abraaj breaches debt covenants - sources

DUBAI, May 20 Abraaj, the Middle East's largest private equity house, is in violation of conditions relating to a portion of its debt, said six banking sources, adding to the pressure on a group locked in a dispute with investors.

Kuwait Energy appoints adviser as it looks to sell Iraq asset - sources

DUBAI, May 20 Kuwait Energy, an independent oil and gas company, has hired investment bank Perella Weinberg Partners (PWP) to advise it on options that could include selling all or part of its Block 9 asset in southern Iraq and a spin-off of Egyptian assets, sources familiar with the matter said.

IPOs, M&A, 1:28pm BST

UPDATE 1-ISS sides against two Tesla directors, backs split of Musk's roles

BOSTON, May 19 Proxy adviser Institutional Shareholder Services (ISS) recommended on Friday that investors vote against Tesla Inc directors Antonio Gracias and James Murdoch, increasing pressure on the car maker over their roles on its board.

Regulatory News, 19 May 2018

Deals of the day-Mergers and acquisitions

May 18 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

Regulatory News, 18 May 2018

U.S. bill to reform foreign investment review wins business group's support

WASHINGTON, May 18 A lobbying group representing major foreign companies doing business in the United States including Anheuser Busch Inbev and Siemens said on Friday it had dropped its opposition to bills that would tighten oversight of foreign investment.

Regulatory News, 18 May 2018

UPDATE 4-PayPal expands retail payments with $2.2 bln iZettle buy

NEW YORK/STOCKHOLM, May 18 PayPal Holdings Inc has agreed to buy Swedish financial technology startup iZettle for $2.2 billion in the U.S. online payments provider's biggest ever acquisition.

Regulatory News, 18 May 2018

CORRECTED-UK high st slowdown stretching banks' provisioning limits

May 17 (LPC) - Banks are increasingly wary of lending to the UK retail sector as shoppers continue to desert the high street in favour of lower cost online rivals, raising the prospect of further loan losses, banking sources said.

18 May 2018

Law firms in focus as leveraged loan docs deteriorate

LONDON, May 18 (LPC) - Aggressive documentation on European leveraged loans is highlighting the role of lawyers that work for private equity firms and also represent the banks lending to sponsors’ buyout loans.

18 May 2018

UPDATE 2-Blackstone to end its stay at Hilton after 11 years

May 18 After holding an interest in Hilton Worldwide Holdings Inc for nearly 11 years, private equity firm Blackstone Group LP has decided to exit the hotel chain operator by selling its about 5.8 percent stake.

Regulatory News 18 May 2018

UPDATE 1-CEFC Europe resists takeover by J&T, says can repay debt

PRAGUE, May 18 CEFC Europe, a Czech-based division of troubled conglomerate CEFC China Energy, said it would contest a takeover of shareholder rights by creditor J&T Private Investments (JTPI), arguing it had funds to pay a debt at the centre of the dispute.

Bankruptcy 18 May 2018