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.
– Pacific Equity Partners is considering buying the fertilizer arm of Australian industrial chemical company Incitec Pivot Ltd., The Australian reported. Australian firm BGH Capital has also shown renewed interest, having previously made an offer of about A$400 million, the report added, citing DataRoom.
– Advent International LP is preparing a takeover bid for Tate & Lyle PLC, potentially valuing the London-based food ingredients provider at more than £2.8 billion, the Financial Times reported. Shares in Tate & Lyle surged more than 11% following the news, the report added.
– Pacific Equity initiated a formal process to explore the sale of its A$2 billion portfolio company, Zenith Energy Ltd., in which OPTrust also owns a stake, The Australian reported. The main objective of the process is to inject growth capital into the business, the report added, citing sources. Some informal talks have been held with potential suitors, believed to be infrastructure buyers, according to the report.
– SeaLink Capital Partners is planning to sell a majority stake in Indian hospital chain Surya Children's Medicare Pvt. Ltd. with a valuation expected between about $119 million and $143 million, The Economic Times reported, citing people aware of the matter. JM Financial is managing the sale process, which targets global private equity firms and India-based hospital chains, the report added, citing the people.
– KKR & Co. Inc. is preparing to sell Singapore-based logistics services provider Goodpack Ltd. in a deal potentially valued at about $1.8 billion, Reuters reported, citing people with knowledge of the matter. KKR has started sounding out certain parties, including global strategic and financial investors, to gauge potential interest in the deal, two of the people said.
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