ITT Educational Services Files Chapter 7, Owes Cerberus $34.5MM

Bloomberg reported ITT Educational Services began liquidation proceedings after closing 136 technical schools and owes a unit of Cerberus Capital Management $34.5 million.

Cerberus Capital Provides $30MM Financing to DynCorp

DynCorp International closed a $30 million third lien term loan credit agreement with a company managed by Cerberus Capital Management.

Reuters: Three Buyout Funds Said to be Vying for GE’s French Banking Arm

Reuters reported that three buyout funds are vying to buy General Electric’s banking unit in France which has approximately $6.6 billion worth of assets.

KKR’s Samson Resources Files Reorganization Plan

Samson Resources announced that after gaining support for its proposed restructuring plan, it has taken the next step on by filing for Chapter 11 bankruptcy protection.

Bloomberg: LightSquared Has Tentative Bankruptcy Plan

Bloomberg reported that Lightsquared has come to a tentative agreement on its plan of reorganization, granting majority ownership to JPMorgan, Fortress Investment Group and Cerberus Capital Management.

Cerberus Capital to Acquire Safeway in $9.4B Deal

Cerberus Capital Management announced it would acquire Safeway, the second largest U.S. grocery store operator, in deal valued at $9.4 billion. Cerberus said it intends to fund the deal with debt financing of about $7.6 billion.

Cerberus Unit to Buy Global Aviation, Pending March Auction

The WSJ reported Global Aviation Holdings received court approval to sell itself to its lender, a unit of Cerberus Capital Management. The article noted the sale is subject to higher bids at an auction in March.

ACG New York Announces Champion’s Awards Winners

ACG New York and The M&A Advisor announced the names of 31 winners of the third annual ACG New York Champion’s Awards, recognizing companies, individual dealmakers and transactions in the middle-market mergers and acquisitions industry in the greater New York area.

Bloomberg: Cerberus Raises $1.3B for Mid-Market Loan Fund

Bloomberg reported that Cerberus Capital Management has raised $1.32 billion for a middle-market loan fund that will seek to take advantage of a pullback in lending.

FinalCut: Wells Fargo Provides ABL to Support SUPERVALU Cerberus Deal

ABF Journal illustrator Jerry Gonzalez shares his depiction of SUPERVALU’s deal to sell some of its grocery store chains to Cerberus Capital and its related $900 million facility led by Wells Fargo.