Middle East & North Africa

Qatari firm makes £12bn Sainsbury’s approach(3)

Qatar-based investment vehicle Three Delta has confirmed its preliminary bid approach to Sainsbury’s, the UK supermarket chain that rejected a £10 billion offer from a private equity consortium in April. The company’s share price soared this morning.

Great Circle buys $21.1m stake in Russian logistics firm

Stamford, Connecticut-based Great Circle has made its second investment in Russia with the injection of $21.1 million of growth capital into logistics company STS Logistics.

Montagu buys hair styling business from LDC(3)

Lloyds Development Capital has made an exit from the company behind iconic hair-styling brand ghd after just 12 months, selling it to Montagu Private Equity for £160 million.

Ethos and Goldman place bets on South African gaming company

Ethos Private Equity, one of South Africa’s largest domestic buyout firms, and Goldman Sachs are heading a consortium to buy local casino Gold Reef Resorts, in the US investment bank’s first deal in the country.

3i adult carer exit has 61% IRR

FTSE 100 listed 3i had a 61 percent IRR and a 3.9 money multiple on the sale to Three Delta of a company it first invested in 10 years ago, Care Principles.

Sainsburys opens books to Delta Two

The UK retailer could become the second FTSE100 retailer to go private after Boots Alliance. In a bid to appease its critics Delta Two has become the first fund to commit to the Walker Report's standards of transparency and disclosure.

Investcorp to acquire US packaging company(3)

Bahrain-based Investcorp will buy a majority stake in Berlin Packaging, just weeks after the first close on its latest fund.

Battery buys tech firm for $137m(2)

Battery Ventures has completed a$137 million take-private of Quovadx, a software and software services firm formerly listed on NASDAQ, for $136.7 million.

Brait picks up South African baker for R1.5bn

South African merchant bank Brait has acquired domestic baker Premier Foods from the Foundation for African Business and Consumer Services for R1.5 bilion.

Oak abandons $825m Vertrue deal(2)

Oak Investment has dropped out of a consortium of firms planning to acquire internet direct marketing services firm Vertrue, after the bidding price was raised from $800 million to $825 million.