Asterion vies for Cellnex's Irish operations; Carlyle eyes Macedon gas field

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 firms Advent International LP, Bain Capital LP, CVC Capital Partners Ltd.and Warburg Pincus LLC are vying to acquire India-based nonbanking finance company Shriram Housing Finance Ltd. from parent company Shriram Finance Ltd. and investor Valiant Capital Management LP, The Economic Times reported, citing people with knowledge of the matter. Shriram Finance and Valiant could retain a small stake in Shriram Housing after the deal, but the buyer would acquire a controlling interest, the report added.

– Middle-market private equity firm Asterion Industrial Partners is facing off against potential strategic acquirers in a bid for Spain-based wireless telecommunications infrastructure operator Cellnex Telecom SA's business in Ireland, Reuters reported, citing five sources familiar with the matter. Cellnex manages roughly 2,000 cell phone towers in the country, the report added.

– US-listed alternative asset manager The Carlyle Group Inc. is in the running, alongside two potential strategic acquirers, to buy the Macedon offshore gas field assets of Woodside Energy Group Ltd., The Australian reported. Bidding is believed to be in the second round after initial bids were submitted in 2023, the report added.

– Venture capital firm Just Climate LLP is competing against a consortium formed by International Finance Corp. and Asian Development Bank to acquire Indian renewable energy developer Fourth Partner Energy Pvt. Ltd., a deal that would involve buying private equity firm TPG Capital LP's 52% majority stake in the business, The Economic Times reported, citing two people aware of the development. The deal would also involve purchasing new shares at an enterprise value of $1 billion for Fourth Partner, the report added.

– Bain and Morgan Stanley Infrastructure Inc. are interested in acquiring Permira Advisers Ltd. portfolio company I-MED Holdings Pty. Ltd., which operates a network of medical imaging clinics in Australia, The Australian reported, citing sources. A sale is not expected until after June at the earliest, the report added.

– Investors Ontario Teachers' Pension Plan Board and private equity firm Main Post Partners LP could sell part of their stakes in restaurant operator Flynn Group, Reuters reported, citing people familiar with the matter. Flynn is exploring a majority stake sale, and Ontario Teachers' and Main Post each own about a third of the business, the report added.

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