TITLE

Ares and Providence Portfolio Merger

AUTHOR(S)
Davis, Avram
PUB. DATE
August 2009
SOURCE
Mergers & Acquisitions Report;8/24/2009, Vol. 22 Issue 34, p12
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the decision of the portfolio companies of Providence Equity Holding and Ares Management LLC to agree to a stock-for-stock transaction merging the private equity firms' telecommunications companies. Under the terms of the deal, Ares' portfolio company Stream Global Services will own about 57.5% of the company, while Providence Equity's eTelecare Global Solutions will control about 42.5% of the new company. About 1 billion U.S. dollars in revenue are expected by the combined telecom companies in 2010.
ACCESSION #
44148472

 

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