Australia’s Bank of Queensland bulks up with $1.1 billion ME Bank purchase
Bank of Queensland Ltd will buy ME Bank, a digital lender owned by 26 industry pension funds, for A$1.33 billion ($1.05 billion), the pair said on Monday, as the second-tier lender chips away at the lead of Australia’s “Big Four” banks. ME Bank, founded in 1994, posted an underlying profit of A$123.9 million in fiscal […]
A Lucrative Stake in Robert Smith’s Vista May Soon Be for Sale
Billionaire Robert Smith’s Vista Equity Partners is discussing a stake sale to reduce Dyal Capital’s lucrative ownership slice in the buyout shop. Smith has kicked off discussions with executives at Dyal in recent weeks seeking a partial sale of their stake in his firm, according to people with knowledge of the matter. For Dyal, its control […]
Greensill and Apollo in talks about multibillion dollar financing deal
Sky News has learnt that Apollo Global Management is among a number of parties in discussions with Greensill Capital, a London-based firm set up by Lex Greensill a decade ago, about a multibillion dollar deal. City sources said this weekend that the talks with Apollo primarily related to the acquisition of assets created by Greensill, […]
Asda’s new owners Issa brothers make fresh bid for Caffe Nero
Moshin and Zuber Issa, the billionaire brothers that are behind grocery retailer Asda, have made a fresh bid to take control of troubled coffee chain Caffe Nero. They are currently in talks with Alcentra and Partners Group to purchase company loans totalling £180m ($252m), the Sunday Telegraph first revealed. City sources told the newspaper that the […]
CVC Credit supports Markerstudy Group investment by Pollen Street Capital and Qatar Insurance Corporation
CVC Credit has supported Pollen Street Capital and Qatar Insurance Corporation’s investment in UK insurance company, Markerstudy Group, with GBP85 million in senior debt facilities The business will use the investment to fund an organic and acquisition-led expansion programme to build on its rapid development over recent years, following its evolution into a Managing General […]
Siemens Healthineers gains EU nod for $16.4 billion Varian buy
EU antitrust regulators on Friday cleared with conditions Siemens Healthineers’ $16.4 billion acquisition of U.S. peer Varian, paving the way for the German health group to become a world leader in cancer care therapy. The European Commission said Siemens Healthineers pledged to ensure that its medical imaging and radiotherapy equipment will work with rivals in […]
France’s Danone buys U.S. plant-based foods firm Earth Island
Danone has agreed to buy U.S. plant-based foods specialist Earth Island, in a deal that would help the French food group reach a target of generating 5 billion euros ($6.1 billion) of plant-based sales worldwide by 2025. Danone said the takeover was part of its strategy to boost global plant-based sales from the 2 billion […]
Seven Serie A clubs move to block €1.7bn CVC deal
Serie A’s €1.7 billion (US$2 billion) private equity deal with CVC, Advent and FSI could be about to collapse as seven of Italian soccer’s most powerful top-flight clubs are set to block the investment, according to Reuters. A letter signed by seven clubs – including Juventus, Inter Milan and Lazio – said they no longer […]
Providence leads race to buy £300m IT group Node4
The buyout giant Providence Equity Partners is leading a £300m race to buy Node4, one of Britain’s army of fast-growing IT services providers, in a deal that will net another big windfall for its founder. It would be the latest in a series of so-called pass-the-parcel deals involving assets being sold by one buyout firm […]
JPMorgan Says PE Deals to Spur Junk-Bond Craze in Europe
JPMorgan Chase & Co. says the leveraged-debt markets in the EMEA region will get a boost this year from a spate of private-equity deals and investors’ clamor for higher yields. Ben Thompson and Daniel Rudnicki Schlumberger, co-heads of the leveraged-finance team for Europe, Middle East and Africa, point to 300 billion euros ($364 billion) of […]
