Mar 28, 2017

TPG ends Strauss Coffee saga

(AP Photo/Rick Bowmer)

Private equity firm TPG Capital has agreed to sell its 25.1% stake in listed Israeli coffee producer Strauss Coffee back to the company for around $279 million, via a two-part transaction that will completely wrap up by the end of August.

Why it's a big deal: Because this marks the end of a protracted saga between TPG and Strauss, which first got together via a $293 million TPG investment back in 2008. At issue was Todd Morgan, a TPG employee and the firm's rep on Strauss Coffee's board, before he was later named CEO. In early 2014, however, Morgan was fired over TPG's objections, which became public via a court fight.

Bottom line: "With 14,830 employees, food and beverages manufacturer and marketer Strauss is Israel's second largest company." ― Yossi Nissan

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Rebecca Falconer, Orion Rummler, Eileen Drage O'Reilly

Cruise ship evacuations: More Americans test positive for coronavirus

A bus carrying American citizens from the quarantined Diamond Princess cruise ship arrives at the U.S. government-chartered aircraft that is taking them back to the United States while authorities wear protective suits look on at Haneda airport in Tokyo on Monday. Photo: Tomohiro Ohsumi/Getty Images

Another 14 passengers tested positive for the novel coronavirus during their evacuation from the Diamond Princess cruise ship before being flown in a "specialist containment" area of the plane to the United States, per a Trump administration statement early Monday.

Details: Over 40 Americans who had been on the ship had previously been confirmed as infected and will remain in Japanese hospitals for treatment, NIAID director Anthony Fauci told "Face the Nation" Sunday. The rest were evacuated, and these latest cases were among them. All evacuees will undergo a 14-day quarantine upon arrival later Monday.

Go deeperUpdated 1 hour ago - Health

Rebecca Falconer

GM to exit Australia, New Zealand and Thailand

GM's Holden brand is popular among racing fans down under, and it's been a regular fixture at events like the Bathurst 1000 V8 Supercar Race in Australia. Photo: Speed Media/Icon Sportswire via Getty Images

General Motors is retiring its Holden brand from sales in Australia and New Zealand and winding down operations in the two countries and Thailand by 2021, the company confirmed in a statement Monday.

Why it matters: The Holden brand has been in Australia and New Zealand for 160 years, per a GM statement issued in Australia. It is beloved by many motor racing fans down under. Holden produced Australia's first wholly locally made car in 1948.

Go deeperUpdated 2 hours ago - Economy & Business

Rebecca Falconer

In photos: Deadly Storm Dennis lashes U.K., Ireland and western France

A family is rescued from a property in Nantgarw, Wales, on Sunday. The storm comes a week after the U.K. was battered by storm Ciara, which killed two people, per the BBC. Photo: Matthew Horwood/Getty Images

Storm Dennis continued to pummel parts of England, Wales and Ireland over Sunday night with heavy rain after battering Northern Ireland and Scotland, per the official British weather agency the Met Office.

Why it matters: It's the second-strongest nontropical storm ever recorded in the North Atlantic Ocean, with its hurricane-force winds and heavy rains that caused widespread flooding across the U.K., the Washington Post notes. Police in Wales confirmed Sunday they found the body of a man who fell into a river as the storm lashed Ystradgynlais.

See photos4 hours ago - World