Blackstone eyes deal for Growatt; KKR, CVC bid for Curalie

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.

– Private equity giant Blackstone Inc. is in talks to buy solar photovoltaic business Growatt Technology Co. Ltd., Bloomberg News reported, citing knowledgeable sources. The deal would value the company at about $1 billion. Sources told Bloomberg that Growatt is evaluating a potential sale after backing away from a Hong Kong IPO, and Blackstone is checking with potential lenders to finance the deal.

– Venture capital and private equity firm Advent International Corp. is looking to sell CCC Intelligent Solutions Holdings Inc., a provider of software used by the automotive industry, Reuters reported. CCC has a market value of $7.1 billion, sources told Reuters. Morgan Stanley is advising CCC on its negotiations with prospective acquirers, which include other private equity firms.

– Private equity firm CVC Capital Partners Ltd. is in late-stage talks with India-based pharmaceutical company Torrent Pharmaceuticals Ltd. to partner on the acquisition of Torrent rival Cipla Ltd., The Economic Times reported, citing sources. Torrent aims to raise $1.2 billion-$1.5 billion from CVC for the offer, estimated at $7 billion.

– Blackstone, KKR & Co. Inc. and KSL Advisors LLC are all considering a bid for Australian luxury resort Hamilton Island Ltd., The Australian reported. Reports value the Queensland resort, which comes with an international runway, at an estimated $1 billion.

– KKR and CVC are among the leading bidders for Curalie GmbH, a startup developer of a health coaching application, SeeNews reported. Curalie is a subsidiary of German healthcare company Fresenius SE & Co. KGaA.

– A consortium led by private equity and venture capital firm Sixth Street Partners LLC is holding exclusive negotiations to buy GreenSky Inc. from Goldman Sachs Group Inc., which acquired the financial technology business in 2022, Reuters reported. The consortium includes KKR and privately owned investment manager Pacific Investment Management Co. LLC, and the group advanced in negotiations over private equity firm Apollo Global Management Inc., which backed a rival bid.

– Private equity firm Permira Advisers Ltd. teamed with Blackstone on a potential acquisition bid for Adevinta ASA, the Norway-based operator of online classifieds sites, Reuters reported. Adevinta is backed by online commerce giant eBay Inc.

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