Cinven, Vitruvian, Verdane eye fianzen.net; Apax exploring PIB Group sale

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.

– GIC Pte. Ltd. and Blackstone Inc. ended talks over GIC's potential acquisition of Blackstone's stake in commercial real estate assets in India, The Hindu Business Line reported, citing sources. Blackstone was seeking $1.5 billion to $2 billion for the stake, the report added.

– Axel Springer SE is exploring a sale of financial portal finanzen.net GmbH, according to Reuters, citing two sources familiar with the matter. Houlihan Lokey is advising Axel Springer and has invited indicative offers for the unit in the coming weeks, the sources said, speaking on condition of anonymity because the talks are private. Cinven Ltd., Vitruvian Partners LLP and Verdane are among the private equity firms interested in finanzen.net, which could be valued at about $271 million, the report said.

– Olympus Capital Holdings AsiaLLC plans to sell a 9.8% stake in India hospital chain Aster DM Healthcare Ltd. for up to $235 million, according to Reuters, citing a term sheet. Olympus Capital holds about a 19% stake in total. Kotak Securities will act as the sole bookrunner for the stake sale, according to the term sheet.

– Oakley Capital Ltd. is exploring a sale of Pelican Midco Ltd., a marine industry software company trading as Ocean Technologies Group Crew AS, according to Reuters, citing three sources close to the matter. Oakley hired Houlihan Lokey and Goldman Sachs to gauge interest in the business, which could be worth more than $1 billion, two of the people said.

– Apax Partners LLP is exploring options, including a sale, of insurance broker PIB Group Ltd., three people familiar with the matter told Reuters. PIB Group could be valued at more than £4 billion, according to one of the sources.

– Imerys SA, a construction materials manufacturer based in France, began exclusive negotiations with middle market private equity firm Flacks Group to explore the possible divestment of its assets serving the paper market, Imerys said in a statement. A potential deal aims for completion this year, subject to customary conditions, including regulatory approvals and relevant work council consultations.

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