26 Jun, 2023
Quadrant looking to sell Barbeques Galore; I Squared, TDR weigh Applus bid
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.
– Quadrant Pvt. Equity Pty. Ltd. is aiming to sell Barbeques Galore (Aust) Pty. Ltd., The Australian reported. E&P Corporate Advisory reportedly is working on the sale of the Australia-based outdoor barbeques and furniture retailer.
– I Squared Capital Advisors LLC is weighing a bid to purchase Applus Services SA, along with TDR Capital LLP, Reuters reported, citing a filing submitted to the Madrid stock market regulator. The Spanish industrial testing company had a market value of €1.24 billion on June 16.
– Two investor groups are competing to buy a distressed loan portfolio from India-based nonbanking financial company Piramal Enterprises Ltd., The Economic Times reported, citing people familiar with the matter. Cerberus Capital Management LP is working with Phoenix ARC Pvt. Ltd. on a bid, while Ares SSG has partnered with Assets Care & Reconstruction Enterprise Ltd.
– The Carlyle Group Inc. is looking to sell its entire 2.53% stake in India-based e-commerce company Delhivery Ltd. through a block deal, The Economic Times reported.
– Bupa Ltd. is negotiating to acquire up to a 15% to 20% stake in India-based Niva Bupa Health Insurance Co. Ltd. from its joint venture partner True North Managers LLP, The Economic Times reported, citing sources aware of the development.
– Steadview Capital Management LLC is seeking to acquire a significant minority stake in BlueStone Jewellery and Lifestyle Pvt. Ltd. for $100 million, Mint reported, citing three people aware of the matter. Steadview is vying with Temasek Holdings (Pvt.) Ltd., which reportedly is already conducting due diligence on the India-based online jewelry retailer.
