Everstone discussing sale of Restaurant Brands; Stonepeak readies IXOM buy

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.

– Everstone Capital Asia Pte. Ltd. is in talks with General Atlantic Service Co. LP for the sale of its stake in Restaurant Brands Asia Ltd., which holds the license to operate Burger King restaurants in India, The Economic Times reported, citing people directly aware of the matter. Everstone owns a 40.9% stake in the company through investment vehicle QSR Asia Pte. Ltd. Talks with a few other private equity funds are ongoing, but General Atlantic is the frontrunner, according to one of the people.

– Stonepeak Partners LP is on the brink of buying IXOM Ltd. from Keppel Infrastructure Trust, according to a report published by The Australian.

– Motive Capital Management LLC is in talks to acquire application software company ACI Worldwide Inc. and has been seeking financing for the transaction in recent weeks, Bloomberg News reported, citing people familiar with the matter.

– DCP Investments plans to sell Singaporean portfolio company MFS Technology Ltd. for at least $550 million, Reuters reported, citing two people with knowledge of the matter. The sale is targeting primarily financial sponsors, but also strategic buyers, according to the sources. BDA Partners and Jefferies Financial Group Inc. are serving as advisers to DCP.

– Fabindia Ltd. and its shareholders, including private equity firms Lighthouse Advisors India Private Ltd. and PremjiInvest, are looking to sell shares of the company to financial investors, The Economic Times reported, citing two people aware of the development. Fabindia, which operates a chain of retail stores for fashion, lifestyle, home decor and personal care products in India, previously postponed its plans for a public offering.

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