KKR India Fin Services and InCred ink deal to merge their lending biz
A year after entering into talks for a partnership, KKR’s non-bank lending business, KKR India Financial Services (KIFS) and InCred Financial Services, the retail and MSME lending business of InCred, have inked a deal to merge the two lending businesses. Founded in 2016 by Bhupinder Singh, InCred Finance is a tech-enabled lending institution that spans […]
Argan, TA Associates to sell controlling stake in Atria Convergence Technologies to Partners Group
Argan (Mauritius) Limited and TA Associates announced on August 13 that they have signed definitive agreements with Partners Group to divest stakes in Atria Convergence Technologies Limited. Argan will exit its entire shareholding in ACT, while TA will partially divest its shareholding, a press release noted. “The sale values ACT at an Enterprise Value of […]
CVC funds to buy European vodka maker Stock Spirits for $1 bln
CVC-affiliated funds will buy London-listed Stock Spirits (STCK.L) for about $1 billion, as the private equity firm looks to tap the popularity of its booze among millennials and women in central and eastern Europe. The takeover offer by CVC Capital Partners-affiliated funds of 377 pence per share for Stock Spirits represents a premium of 41% to the […]
Mailchimp Is Exploring a Sale at $10 Billion-Plus Valuation
Email marketing startup Mailchimp is exploring a sale that could value the company at more than $10 billion, according to people with knowledge of the matter. Atlanta-based Mailchimp is considering options that could also include the sale of a minority stake, said the people, who asked not to be identified because they weren’t authorized to speak […]
Blackstone to buy Canada’s WPT Industrial REIT for US$3.1-billion
Blackstone Group Inc. plans to buy Canada’s WPT Industrial REIT for US$3.1-billlion, as the private equity giant aims to capitalize on the pandemic’s major shift to e-commerce by acquiring dozens of warehouses and distribution centres. Blackstone’s REIT will pay WPT unitholders US$22 per unit to get its hands on WPT’s 110 industrial properties across 20 […]
China’s antitrust regulator starts review of Blackstone’s US$3 billion acquisition of property firm Soho China
China’s antitrust regulator has started its review of a general offer by US private-equity firm Blackstone Group to take control of property developer Soho China, a necessary step needed for the US$3.05 billion deal to be concluded. The acquirer was notified on August 3 that the State Administration for Market Regulation (SAMR) had accepted its […]
Philip Morris raised its bid to more than £1 billion in a bidding war for UK inhaler group Vectura
The battle between the owner of Marlboro cigarettes and a private equity group for control of the UK inhaler maker Vectura intensified on Sunday as Philip Morris International raised its bid to more than £1 billion. PMI’s offer of 165p a share came just two days after Carlyle, the US private equity group, raised its […]
Fintech unit of Malaysia’s AirAsia secures up to $100 mln from SK Group
South Korea’s SK Group will invest up to $100 million in the financial technology unit of AirAsia Group Berhad , the Malaysian budget carrier said in a statement on Friday. BigPay, a unit of AirAsia’s digital arm, offers a prepaid debit card, local and international money transfers, micro-insurance, bill payments and a budgeting tool. “Our […]
Real Madrid opposes private equity’s €2.7bn Spanish football deal
Spain’s top football league has agreed a €2.7bn deal with CVC Capital Partners that could bring private equity into a major European league for the first time, sparking strong opposition from Real Madrid, one of its biggest teams. The deal with La Liga, which has not been agreed by clubs, values it at just over […]
Smiths Group agrees $2.3bn sale of medical division to TA Associates
Smiths Group has agreed to sell its medical division to TA Associates for $2.3bn as the UK conglomerate seeks to concentrate on industrial technology. The FTSE 100 group expects to receive net cash proceeds of $1.8bn from the sale and to retain a 30 per cent stake in the division, which made £918m of sales […]
