EQT in talks to acquire Dechra; SoftBank mulls sale of BrainBees' stake

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.

– EQT AB is discussing the potential acquisition of veterinary drug maker Dechra Pharmaceuticals PLC with co-investment on behalf of the Abu Dhabi Investment Authority The all-cash deal is valued at about $5.79 billion, and under UK law, EQT has until May 11 to announce a firm offer or walk away.

– SoftBank Group Corp. is likely to sell a portion of its 29% stake in BrainBees Solutions Pvt. Ltd., which retails mother and baby products, Economic Times reported. The company is in talks with a group of sovereign funds to help shareholders sell a stake in BrainBees for $3 billion.

– Wendel started exclusive negotiations with Scalian SAS to invest up to about €550 million in exchange for a large majority stake in the engineering consultancy. Wendel expects to finalize the transaction in the second half of this year.

– Warburg Pincus LLC and Kedaara Capital Investment Managers Ltd. are in separate discussions to acquire Watertec India Pvt. Ltd., a manufacturer of bathroom fittings and accessories, Economic Times reported, citing multiple people aware of the development.

– Private equity firms KKR & Co. Inc. and Actis LLP have shown interest to buy nine highway projects in Andhra Pradesh and Gujarat, India, from Macquarie Group Ltd. and Cube Highways and Infrastructure Pte. Ltd., Economic Times reported.

– Apollo Global Management Inc. sent a preliminary and nonbinding indicative proposal to acquire online retailer THG PLC, Belfast Telegraph reported. Apollo has a deadline of May 15 to make a firm offer.

– Bids made by EverSource Capital Group and JSW Neo Energy Ltd. to acquire a controlling stake in Morgan Stanley-owned Continuum Green Energy (India) Pvt. Ltd. were shortlisted, Economic Times reported, citing people familiar with the situation. The potential buyers will conduct due diligence of the company before submitting firm financial offers, according to the sources. I Squared Capital Advisors LLC, Statkraft SF and an investor consortium also submitted nonbinding offers to acquire Continuum Green.

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