NEW YORK - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
TPG, Silver Lake to fund Avaya's purchase of Radvision
(Reuters) - Private equity firms TPG Capital and Silver Lake Partners said on Thursday they intend to fund a majority of the about $227 million Avaya Inc AVXX.UL needs to buy Israeli video conferencing company Radvision RVSN.TA.
In March, the telecom equipment maker agreed to buy Radvision as part of its strategy to shore up its video conferencing capabilities.
"Sponsor equity along with cash on hand at Radvision ($90.7 million as of December 2011) should be sufficient to fund nearly the entire purchase price," Moody's Investor Services said in a note.
TPG and Silver Lake originally bought Avaya for $8.2 billion. Avaya filed for a $1 billion initial public offering last June, but is yet to go public.
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Jeremy Laurence)
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