Another One that Didn't Stick for the Carlyle Group
Willcom Inc., a Japanese mobile phone company controlled by Carlyle Group, filed for bankruptcy protection Thursday, reports Business Week.
The Tokyo-based carrier's 206 billion yen ($2.2 billion) in liabilities is the biggest ever bankruptcy for a Japanese telecommunications company, according to private research firm Teikoku Databank.
The Carlyle Group owns 60 percent of Willcom. Kyocera Corp. holds a 30 percent stake, while KDDI Corp. has the remaining 10 percent.
Posted by Robert Wenzel at 9:47 PM
3 Comments
3 Comments:
They tried to sell it, but had no buyers. Willcom joins the slate of fallen Carlyle affiliates:
Carlyle Capital Corporation
BlueWave Partners
SemGroup
Hawaiian Telecom
Edscha
IMO Carwash
Stallion Oilfield Services
Verari Systems
Rubenstein was interviewed by Bloomberg. DealBook has the transcript:
http://dealbook.blogs.nytimes.com/2010/02/18/rubenstein-no-10-billion-l-b-o-s-anytime-soon/#comment-364147
It's a good thing the PEU boys have $1 trillion in dry powder. Maybe David can make back their Willcom loss:
http://dealbook.blogs.nytimes.com/2010/02/10/private-equitys-tough-fundraising-test/
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