Blackstone eyes KIMS Healthcare stake; Silver Lake seeks buyers for Global Blue

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.

– Blackstone Inc. is the frontrunner to buy a controlling stake between 55% to 75% in KIMS Healthcare Management Ltd., Economic Times reported, citing two people aware of the development. The firm plans to acquire 55% interest from existing investor True North Managers LLP and the remaining 20% from minority shareholders with a deal likely to be signed by mid-September, according to the sources. KIMS founder MI Sahadulla and family will own about 25% of the hospital chain.

– Silver Lake Technology Management LLC hired an investment bank to explore options for transaction processing services company Global Blue Group Holding AG, including sale or capital market transactions following expressions of interest from potential acquirers, Reuters reported, citing people familiar with the matter.

– Private equity firm Actis LLP is among a number of potential buyers for Fortum Oyj's Indian solar projects totaling 185 MW, Mint reported, citing two people familiar with the matter. Kotak Investment Banking is managing the transaction with an estimated $200 million enterprise value. Other suitors include Oil and Natural Gas Corporation Ltd., Gentari Sdn. Bhd., Sembcorp Industries Ltd. and Sekura Energy Ltd.

– ChrysCapital is actively involved in the bidding process to acquire Glenmark Pharmaceuticals Ltd.'s stake in Glenmark Life Sciences Ltd., Economic Times reported, citing sources. Under the listing requirements, Glenmark Pharma must cut down its 83% stake in the life sciences unit to 75% no later than August 2024. However, the company may look to sell a controlling interest in Glenmark Life Sciences. Chemicals and detergent manufacturer Nirma Ltd. and Sekhmet Pharmaventures Private Ltd. are also interested in acquiring an interest in Glenmark Life Sciences.

– Temasek Holdings (Pvt.) Ltd. is mulling the sale of some assets owned by liquefied natural gas company Pavilion Energy Pte. Ltd. for at least $2 billion, The Straits Times reported, citing people with knowledge of the matter. The deal will exclude Pavilion's gas pipeline business, according to the people.

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