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Buyout giants pull out of race for Coles(2)TPG, Carlyle and Blackstone have pulled out of the formal race for Coles, an Australia-listed retailing group, but their consortium has indicated an interest in discussing an alternative investment structure.
- CD&R sells Brakes to Bain for £1.3bn(3)
US buyout firm Bain Capital has won the race to buy Brake Bros, a UK food distribution business, from Clayton Dubilier & Rice, in a deal thought to be worth about £1.3 billion.
- Buyout interest in Coles ends as Wesfarmers continues(2)
All eight of the large buyout firms in the race to buy Coles Group, Australia’s second largest retailer, have now dropped out of the running. Trade buyer Wesfarmers is now expected to complete the $19 billion transaction, which will be the largest in the country to date, without private equity support.
- LBO giants launch PR offensive in Germany
Hanns Ostmeier has stepped down from The Blackstone Group to chair the German Venture Capital Association’s new mega-buyout platform.
- SEIU: PE must take greater social responsibility(2)
The SEIU and the Working Families Party held a joint press conference today on a New York sidewalk – they called on buyout firms to better help the middle classes and outlined their upcoming private equity campaign strategies as volunteers sought to catch the attention of passers-by with posters and flyers.
- Bain strikes twice in musical, nautical deals(2)
Bain Capital is set to acquire US retailer Guitar Center for $2.1 billion. Meanwhile, the firm’s German arm has agreed to purchase yacht manufacturer Bavaria Yachtbau.
- CD&R maintains excellent distribution(3)
Clayton Dubilier & Rice recently led the $10.3 billion acquisition of HD Supply, the wholesale business of US retail giant Home Depot. It is the latest in a string of deals the US buyout firm has completed for distribution businesses. Nicholas Lockley reports.
- Heavyweights weigh in on PE(2)
Private equity dominated discussions in the US this week, as high-ranking government officials, superstar investors and senior executives commented on the building tax controversy confronting the industry, as well as the longevity of the so-called buyout boom.
- Onex, Carlyle to acquire GM division for $5.6bn(3)
As GM shaves off assets to improve liquidity, Onex and The Carlyle Group have come away with US-based Allison Transmission.
- Buyout interest in Coles ends as Wesfarmers continues
All eight of the large buyout firms in the race to buy Coles Group, Australia’s second largest retailer, have now dropped out of the running. Trade buyer Wesfarmers is now expected to complete the $19 billion transaction, which will be the largest in the country to date, without private equity support.