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.
– Nomura Holdings Inc. and Mizuho Financial Group Inc. made the highest preliminary offers for KKR & Co. Inc.'s 63% stake in Indian investment bank Avendus Capital Pvt. Ltd., for which the US firm is seeking at least $400 million, The Economic Times reported, citing people familiar with the matter. Avendus executives reportedly prefer their new backers to be a global asset manager or a group of family offices.
– Just Climate LLP, CapitaLand Investment Ltd. and Banpu Public Co. Ltd. are competing to acquire EverSource Capital Group-backed Radiance Renewables Pvt. Ltd. for about $325 million, Mint reported, citing two people aware of the development. The firms have been shortlisted for the second round of bidding for 100% of the Indian renewable energy company, the report added.
– EQT Partners AB is evaluating the potential sale of a portion of its 49% stake in Danish hearing aid maker WS Audiology A/S, Bloomberg News reported, citing people familiar with the matter. The EQT AB (publ) subsidiary's stake sale is likely to attract interest from other financial investors looking to gain exposure in the sector, the people reportedly said.
– Apollo Global Management Inc. proposed to invest up to $5 billion in chipmaker Intel Corp., Bloomberg reported, citing people familiar with the matter. Apollo's offer comes after Intel's shares lost nearly 60% of their value since the start of 2024, the report added.
– Madison Dearborn Partners LLC is looking to sell its controlling stake in Dublin-based packaging company IPL Plastics Inc. for up to €1.35 billion, The Irish Times reported. Canadian private equity firm Brookfield Asset Management Ltd. is among the second-round bidders for the stake, the report added, citing Debtwire.
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