TPG related stories
All articles and analysis
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.
- New Look auction collapses
UK retailer New Look looks likely to be refinanced rather than sold, after the final consortium targeting the company failed to agree with the vendors’ valuation and withdrew from the auction.
- CD&R sells Brakes to Bain for £1.3bn(2)
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.
- KKR brings two on board(3)
The private equity giant has named as senior advisors the former CFO of Siemens and the former CEO of Agere Systems.
- Pension showdown looms for Canada’s BCE
Teachers’ is the latest, major Canadian pension fund to enter take-private talks for $30 billion telecom giant BCE. Like the pensions in the two other bidding groups, Teacher’s has partnered with a heavyweight US private equity firm.
- TPG, Affinity make $1.4bn offer for UTAC(2)
TPG Capital and Affinity are proposing to delist a Singapore-listed semiconductor company for $1.4 billion. The offer follows a failed $1.6 billion buyout offer from Temasek Holdings for STATS ChipPac, another Singapore-listed chip company.
- Longreach to acquire control of Taiwan’s EnTie Bank(3)
The Longreach Group, a largely Japan-focused private equity firm, has joined a number of other international buyout firms to invest in a bank in Taiwan where the fragmented industry is undergoing consolidation.
- Cerberus sought to bail Japan’s JVC(3)
Kenwood, a Japanese maker of audio equipment may reportedly seek financial backing from Cerberus to bid for JVC, a Japanese consumer electronic brand that TPG had been keen to acquire. Talks between TPG and JVC parent Matsushita are believed to have collapsed.
- KKR brings two on board(2)
The private equity giant has named as senior advisors the former CFO of Siemens and the former CEO of Agere Systems.
- Industry group opposes Senate bill(3)
The Private Equity Council has voiced its opposition to a recent US Senate bill that would cause publicly traded partnerships to be taxed as corporations.