M&A
February 17, 2012: 10:56 AM ETEncana Corp. (NYSE: ECA) has agreed to sell a 40% stake in British Columbia natural gas assets toMitsubishi Corp. for C$2.9 billion.
The Carlyle Group is seeking to sell its 40% stake in Taiwanese lender Ta Chong Bank Ltd., according to Reuters. The position could be worth around $310 million. www.carlyle.com
Linden Lab, the San Francisco-based creator of the Second Life virtual world, has acquiredLittleTextPeople, a game development studio focused on interactive fiction. No financial terms were disclosed. Linden Lab has raised nearly $20 million in VC funding from groups like Benchmark Capital, Catamount Ventures, Omidyar Network and Globespan Capital Partners. www.lindenlab.com
Silverback Enterprise Group, an enterprise software platform seeded by Austin Ventures, has acquired both PowerSteering Software and Tenrox Inc. No financial terms were disclosed. PowerSteering provides cloud-based enterprise project and portfolio management software, while Tenrox provides cloud-based project workforce management software. www.silverbackeg.com
Spectrum Clubs, a portfolio company of Brentwood Associates, has sold 11 Texas locations to Gold's Gym International. No financial terms were disclosed. www.spectrumclubs.com
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