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Four reasons why 2020 could see a take-private boomMore attractive entry conditions, an increase in activist investor campaigns and PE becoming more mainstream will drive public-to-private activity this year.
Three firms changing the PE landscape: EurazeoOnce described as a ‘sleepy outpost’, this listed French firm is hungry for acquisitions and has international expansion in its crosshairs.
PEP sells Griffin’s Foods for NZ$700mThe firm has sold the snack foods business to Philippine F&B company Universal Robina
- Abraaj prepares $800m Africa fund launch
The firm plans to target Asian investors for the first time.
- Eurazeo exits French dairy
The French manager has converted €700m of bonds it issued in 2009 to Danone equity, allowing it to divest the dairy group it started backing 25 years ago.
- China blocks $2.4bn Coke bid for Hui Yuan Juice
China’s Ministry of Commerce has rejected the takeover of China Hui Yuan Juice, one of China's leading beverage companies, six months after Coca-Cola first made an offer. US private equity firm Warburg Pincus owns a minority stake in the company.
- Eurazeo reports 35% revenue growth
The French firm's consolidated revenues have surpassed €4bn for the first time. Debt levels are not a concern either at portfolio or group level, the firm has said.
- Kraft takes £575m bite of United Biscuits
US food group Kraft has bought the southern European division of United Biscuits, five months after Goldman Sachs was appointed to carry out a strategic review of the biscuit and snacks manufacturer.
- DrKW hires financial sponsors MD
The investment banking unit of Dresdner Bank has hired former JP Morgan Chase managing director Pascal Maeter as managing director and head of its financial sponsors group.
- David-Weill new Eurazeo chairman
Bruno Roger is to be replaced as chairman of the French private equity house by former Lazard France chairman Michel David-Weill.