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Bidders line up for Temasek-, EQT-backed O2 Power; KKR weighs Kito 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.

– Macquarie Group Ltd., JSW Group's JSW Neo Energy Ltd. and Actis LLP are weighing bids for India-based renewable energy developer O2 Power Private Ltd., which is backed by EQT Partners AB and Temasek Holdings (Pvt.) Ltd. The potential acquirers have all signed nondisclosure agreements related to a potential deal with about $1 billion in equity value, Mint reported, citing two people aware of the developments.

– KKR & Co. Inc. is evaluating a sale and other options for London-based electrical industrial equipment manufacturer Kito Crosby Ltd., Bloomberg News reported, citing people familiar with the matter. KKR is working with an adviser to run an auction process and is seeking an approximately $3 billion valuation for Kito, the report added.

– Quadrant Pvt. Equity Pty. Ltd. is looking at exit options for Australian chocolate maker Rite Bite Group Pty. Ltd., The Australian reported. The private equity firm will likely target a large strategic buyer for the deal, the report added.

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