Pacific Equity Partners related stories
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Buyout interest in Coles ends as Wesfarmers continuesAll 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.
- Buyout giants pull out of race for Coles
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.
- PEP still keen on Flight Centre
Pacific Equity Partners will not give up on Flight Centre, an Australian travel agency it failed to acquire via a public-to-private process just a few months ago. The Australian buyout firm is now offering to acquire a 30 percent interest in the company via a proposed joint venture structure.
- CVC, KKR pull out of Coles takeover bid
Kohlberg Kravis Roberts & Co has decided to follow CVC Asia Pacific and quit the consortium bidding for Coles Group after two weeks of due diligence on the Australian retail giant. Coles shares have consequently fallen below the A$17.00 mark for the first time since April.
- KKR to rejoin A$20bn Coles bidding war(2)
Shares in Australian retailer Coles Group continued to climb as a A$20 billion bidding war between local rival Wesfarmers, a Kohlberg Kravis Roberts-led buyout consortium, and other international trade players looked increasingly likely.
- Buyout firms circle A$1bn Australian lender(2)
KKR and GE Capital have reportedly teamed up to bid for RAMS, an Australian mortgage provider valued at about A$1 billion, as private equity firms and banks clamour for exposure to the booming Australian housing market.
- Carlyle tops ground-breaking league table(2)
The PEI 50, a new ranking from Private Equity International magazine, reveals The Carlyle Group has the largest private equity direct-investment programme in the world, having raised $32.5 billion in the last five years.
- Ontario Teachers expands to London(2)
Teachers’ Private Capital, the private equity arm of the Canadian pension, has launched its first foothold outside of Toronto with a London office led by Andrew Claerhout.
- PEP leads consortium to buy Veda(2)
Merrill Lynch has joined forces with Pacific Equity Partners to make its first foray into the Australasian private equity market, with a $659 million offer for credit checking company Veda Advantage.
- Explosive maker rejects $8.3bn buyout proposal(2)
Orica, an Australia-listed explosive maker, has seen its share prices jump by more than twenty percent after rejecting a A$10 billion proposal from a private equity consortium.