EQT eyes Alfa Financial; CVC, Gro Capital look to sell Omada

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– EQT AB (publ) made several unsolicited, nonbinding proposals regarding a potential buyout offer for London-based auto and equipment finance software platform Alfa Financial Software Holdings PLC. The latest proposal was priced at 208 pence per ordinary share in cash and includes an option for shareholders to choose a partial unlisted share alternative offer. EQT has until July 7 to disclose a firm intention to make an offer, which can be extended with the consent of the panel on takeovers and mergers.

– Sekhmet Pharmaventures Private Ltd. and Nirma Ltd. are vying to acquire Glenmark Life Sciences Ltd. from Glenmark Pharmaceuticals Ltd., which owns a roughly 82.9% stake in the India-based life sciences business and looks to deleverage its balance sheet, The Economic Times reported, citing people aware of the matter. ChrysCapital is also reportedly considering an offer in partnership with GIC Private Ltd. and Caisse de dépôt et placement du Québec. Kotak Mahindra Capital Co. Ltd. is the transaction adviser.

– CVC Capital Partners Ltd. and Gro Capital A/S plan to sell Danish identity and access management software company Omada A/S. The private equity firms have tapped Evercore as an M&A adviser for the sale, according to a media report.

– Bain Capital LP is considering selling a 0.7% stake in India-based Axis Bank Ltd., valued at up to $267 million, through a block deal, Reuters reported, citing sources. Bain owns a total 1.3% stake in Axis Bank, according to the report.

– BGH Capital is evaluating a deal to buy KKR & Co. Inc.-backed Pepper Money Ltd., The Australian reported, citing market sources. Paper Money has a market valuation of $549.7 million, and KKR owns a 61% stake in the Australia-based nonbank lender.

– News Corp.-owned HarperCollins Publishers LLC and KKR made bids to acquire Simon & Schuster Inc. from Paramount Global, Reuters reported. Paramount expects to raise between $2 billion and $2.5 billion from the sale of the book publisher.

– Sixth Street Partners LLC is exploring a bid to acquire some of the assets of Bed Bath & Beyond Inc., The Wall Street Journal reported, citing a court hearing. The private equity firm looks to bid using more than $500 million of its debt in the bankrupt retailer. Sixth Street is likely to target the company's baby gear chain, Buybuy Baby, or all of the assets of Bed Bath & Beyond, according to the report.

– GoDigital Media Group is in advanced discussions to acquire all assets of bankrupt youth media company Vice Media LLC, including its core news business and female-focused Refinery29, WSJ reported, citing people familiar with the deal talks.

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