October 11th, 2021

Tpg Agreement


Endo International plc and Par Pharmaceutical Holdings, Inc. announced that they have entered into a final agreement under which Endo will acquire TPG Capital`s privately owned business in an $8.05 billion agreement. In 1993, Coulter and Bonderman partnered with William S. Price III, GE Capital`s Vice President of Strategic Planning and Business Development, to complete the acquisition of Continental Airlines. [8] The plan included the establishment of a new management team, improved aircraft utilization, and concentration on lucrative routes. [Citation required] In 2001, TPG acquired Telenor Media, a Norwegian telephone directory company, for $660 million and soon after acquired a majority stake in memc Electronic Materials. [19] The transaction was unanimously approved by Endo`s Boards of Directors and by and is supported by the management teams of both companies. No further shareholder approval is required. The purchase price will consist of approximately 18 million shares (value of $1.55 billion based on Endo`s 10-day volume weighted average price, which ends May 15, 2015) in Equity of Endo and a cash payment of $6.50 billion to Shareholders of Par. On March 12, 2010, Gretchen Morgenson discussed in the New York Times TPG`s role as a private equity investor in Greek mobile operator WIND Hellas, formerly TIM Hellas, which applied for insolvency protection in late 2009. [54] Morgenson raised questions about the circumstances in which TPG and other private equity investors repaid to London-based Apax Partners a considerable amount of “convertible preferred share certificates” they held to repay their own “deep subordinated shareholder loans” during a period during which a significant and apparently inexplicable increase in the market value of the certificates occurred. . [Citation required] The Texas Pacific Group, then TPG Capital, was founded in 1992 by David Bonderman, James Coulter and William S.

Prix III. Prior to TPG`s inception, Bonderman and Coulter had worked for Robert M. Bass and made fixed-price buyback investments in the 1980s. In 1998, TPG led a minority stake in Oxford Health Plan. TPG and its co-investors have invested US$350 million in a convertible preferred share that can be converted into 22.1% of Oxford`s stake. [14] In 2000, the company entered into a purchase of TPG`s DEF convertible loan, which was eventually to be purchased by UnitedHealth Group in 2004. [15] In 2000, TPG and Leonard Green & Partners invested $200 million in the acquisition of Petco, the pet supplies retailer, as part of a $600 million buyout. [16] In two years, they sold most of it in a public offering valued by the company at $1 billion. Petco`s market value increased sharply until the end of 2004 and the companies would eventually make a profit of $1.2 billion. Then, in 2006, private equity firms took over Petco privately for $1.68 billion.

[17] Todd Sisitsky, Managing Partner of TPG Capital North America, said, “It has been a pleasure to invest in such a great company and to help Par`s excellent management team accelerate and diversify its business. As a member of Endo, Par will be well positioned to drive future growth, and we look forward to continuing to be part of the next chapter of the company`s success.┬áIn 1994, TPG, Blum Capital and ACON Investments created Newbridge Capital, a joint venture to invest in emerging markets, including Asia and Latin America. .

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