MBK Offers to Buy C&M for $3.2 Billion in Korea's Biggest LBO, Bankers Say

(Bloomberg) -- MBK Partners Ltd., the South Korean
private equity group founded by former Carlyle Group executives,
offered 3 trillion won ($3.2 billion) for cable-TV operator C&M,
said two bankers who were asked to provide financing.

The Seoul-based buyout company wants to borrow as much as 2
trillion won to pay for closely held C&M, South Korea's second-
biggest cable-TV operator, said the bankers, who declined to be
identified because the bid hasn't been disclosed. The purchase
would include New York-based Goldman Sachs Group Inc.'s 30.5
percent stake, they said.


Read more at Bloomberg Bonds News

UPDATE 1-Union ratifies deal in Goodyear unit sale

(Reuters) - United Steelworkers members at four plants approved the
contract last week and the central union resolved remaining
issues with Carlyle over the weekend related to establishing a
secure trust for retiree health care.




Goodyear, the largest U.S. tire maker, agreed to sell the
unit to Carlyle for $1.48 billion earlier this year. Goodyear
has said it expects to complete the sale in the third quarter.
The sale was contingent on the new union contract.


Read more at Reuters.com Mergers News

Liberty considers Virgin Media bid - FT

(Reuters) - Virgin Media had asked suitors to submit expressions of
interest by the first week of August to kick off an auction of
the company, people familiar with the situation told Reuters
earlier this week.




About 10 suitors have expressed an interest, sources told
Reuters, since private equity firm Carlyle Group [CYC.UL] made
an initial offer earlier this month.


Read more at Reuters.com Mergers News

RLPC-DAE Aviation postpones $937 mln LBO loan-sources

(Reuters) - Proceeds of the bank loan and the note offering back Dubai
Aerospace Enterprise's $1.8 billion acquisition of plane
servicing firms Standard Aero Holdings Inc. and Piedmont
Hawthorne Holdings from Carlyle Group.




The loan consisted of a $557 million term loan B, a $280
million asset-sale facility and a $100 million revolver.
Pricing on the term loan was widened earlier to 325 basis
points over the London interbank offered rate due to weak
investor interest. The loan was also being offered at an
original issue discount of 98.5.


Read more at Reuters.com Bonds News

Sale of Home Depot unit gets US antitrust approval

(Reuters) - Home Depot said last month it had agreed to sell the supply
division to three private equity firms -- Bain Capital
Partners, Carlyle Group [CYL.UL] and Clayton, Dubilier & Rice
-- for $10.3 billion as it refocuses on its core retail
business.




Read more at Reuters.com Mergers News

Manor Care Options Trading Jumped Before Carlyle $6.3 Billion Buyout Offer

(Bloomberg) -- Trading in options to buy shares of
Manor Care Inc. surged to a record June 29, the last trading day
before the operator of nursing homes and assisted-living centers
said it agreed to be acquired by Carlyle Group for $6.3 billion.

Manor Care option trading soared April 11 when the Toledo,
Ohio-based company said it hired investment bank JPMorgan Chase &
Co. to take advantage of its ``very strong financial position''
and ``enhance shareholder value.'' Since then, an average of
1,257 call-option contracts have traded each day, more than 3 1/2
times the prior year-to-date figure.


Read more at Bloomberg Stocks News

UPDATE 2-Virgin Media seeks buyer, Carlyle bids -sources

(Reuters) - LONDON, July 1 - British cable operator Virgin
Media has appointed Goldman Sachs to seek a possible
buyer after it received approaches from various private equity
firms, people familiar with the situation said on Sunday.




Carlyle Group [CYL.UL], for one, offered in recent weeks to
buy the company, whose leading shareholder is the flamboyant
entrepreneur Richard Branson, the sources said, but they declined
to disclose the price put forward.


Read more at Reuters.com Mergers News

Carlyle Group Reduces Size of $400 Million Mortgage Fund IPO by 25 Percent

(Bloomberg) -- Carlyle Group, the buyout firm run by
David Rubenstein, cut the size of the initial public offering for
a fund that invests in bonds backed by mortgages by 25 percent to
$300 million after a slump in the U.S. subprime market.

Carlyle trimmed the offering from $400 million and reduced
the price of the shares to $19 from a range of $20 to $22,
Carlyle Capital Chief Executive Officer John Stomber said in an
interview today. The firm said earlier in a statement it would
delay the pricing of the fund, which will mostly invest in AAA
rated residential mortgage-backed securities. The fund also
targets loans, junk bonds and collateralized debt obligations.


Read more at Bloomberg Bonds News