Blackstone mulls Anthos exit; Advent engages with buyers for Bharat Serums

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– Global Infrastructure Management LLC is looking to sell its majority stake in Edinburgh Airport Ltd. in a process that may value the airport at more than $2.72 billion, Reuters reported, citing sources close to the situation. Additionally, Ardian and Crédit Agricole Assurances SA, which own a minority position in airport operator 2i Aeroporti SpA, hired Mediobanca and Credit Agricole to find a buyer for their 49% stake in the company.

– GIC Private Ltd., Singapore's sovereign-wealth fund, is discussing a potential investment of an unknown size in Apollo Global Management Inc.'s securitization business, Atlas Sp Partners, Bloomberg News reported, citing a person with knowledge of the matter.

– Blackstone Inc. is looking at options to exit its stake in biotechnology company Anthos Therapeutics Inc., Reuters reported, citing people familiar with the matter. Anthos, which is developing novel blood thinners, could reach a value of several billion dollars, according to the sources.

– Blackstone is exiting its majority stake in International Asset Reconstruction Co. Pvt. Ltd., a joint venture the firm started with the Tata Group, HDFC Bank and ICICI Bank as partners, Economic Times reported. Florintree Advisors Pvt. Ltd. is at the top of the list of potential buyers for a 51% stake in International Asset Reconstruction. The target company is valued at about 2 billion Indian rupees, according to people aware of the deal. Shriram Finance Ltd. is also among the final contenders for the deal.

– Advent International LP is engaging with potential buyers for a complete sale of its stake in biopharmaceutical company Bharat Serums and Vaccines Ltd. and expects valuation of up to $2 billion, Business Standard reported, citing banking sources.

– Private equity firm Qatar Holding LLC is set to sell about $643.7 million of Barclays PLC shares for 141 pence apiece, Reuters reported. Qatar Holding's decision signals a decrease in its investment in the British bank.

– Fortissimo Capital Management Ltd. is in talks to acquire a controlling share of Israeli telecom group Cellcom Israel Ltd. from Discount Investment Corp. Ltd., Reuters reported, citing a regulatory filing. Discount signed a nonbinding agreement to sell Fortissimo its 35.6% stake in Cellcom for $249 million. Fortissimo has a two-week due diligence window, and completion is subject to regulatory approvals.

– Private equity firm Warburg Pincus LLC plans to sell a $100 million stake in IDFC First Bank Ltd. through block deals. The sale will be processed through affiliate Cloverdell Investment Ltd. and involves a 1.3% stake with a floor price set at 85.7 Indian rupees per share.

– CVC Capital Partners Ltd. and Warburg are among the US private equity firms competing to acquire TO THE NEW Singapore Pte. Ltd., a digital technology company, Economic Times reported. Three other global strategic companies are also in the running, with binding bids expected next month over the $600 million deal. Global investment bank Lincoln is advising on the sale process. The transaction will occur in two phases, starting with a 70% stake acquisition.

– Bain Capital LP is the only contender left to acquire Swiss software solutions provider SoftwareONE Holding AG after other bidders withdrew, Reuters reported, citing unnamed sources. At least four companies, including Apax Partners LLP, submitted nonbinding offers following SoftwareONE's strategic review in July. Bain proposed a valuation of $3.66 billion.

– Bain Capital, KKR & Co. Inc. and Advent International are reportedly in talks to acquire a controlling stake in pharmaceutical company Sai Life Sciences Ltd. for an estimated deal value of between $600 million and $700 million, Mint reported, citing people aware of the development. TPG Capital LP holds a 43.4% stake in Sai Life. TPG and Krishna Kanumuri may divest their stakes as part of the transaction. Due diligence by the firms is ongoing and will lead to final binding bids next month.

– The Carlyle Group Inc. co-founder David Rubenstein is in discussions to buy Baltimore Orioles Inc., Bloomberg News reported, citing people with knowledge of the matter. Other suitors are also interested in the Baltimore-based Major League Baseball team.

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