11 Mar, 2024
Morgan Stanley aims to sell Sahajanand stake; Carlyle considers Tokiwa sale
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.
– Morgan Stanley Pvt. Equity Asia Inc. is planning to sell its 17% stake in India-based medical device company Sahajanand Medical Technologies Ltd., The Economic Times reported, citing people aware of the development. Existing Sahajanand backer Samara Capital Inc. and promoter Dhirajlal Kotadia and his family may also sell an approximately 15% to 20% stake in the business, the report added.
– Bain Capital LP, KKR & Co. Inc., The Carlyle Group Inc. and CVC Capital Partners Ltd. are all assessing a potential take-private bid for Luxembourg-headquartered luggage manufacturer Samsonite International SA, Business Standard reported, citing people familiar with the matter. Existing Samsonite minority shareholder DCP Investments is also considering reinvesting alongside the other bidders, who may form a consortium to pursue the deal, the report added.
– The Carlyle Group Inc. launched a sale process for Tokyo-based cosmetics supplier Tokiwa Corp. and engaged Jefferies and SMBC Nikko Securities to advise on the auction, Reuters reported, citing sources who declined to be named. Bids are expected in mid-March for the company, which could be valued at $800 million or more, the report added.
– Temasek Holdings (Pvt.) Ltd. is in negotiations with OpenAI LLC regarding a potential investment in the AI company, Financial Times of London reported, citing people with knowledge of the talks. Singapore's Temasek would be the first state-backed group to invest in the ChatGPT developer, which is planning to launch its own semiconductor business to lessen its dependence on suppliers, the report added.
– EMR Capital Pty. Ltd. is considering options for its Kestrel coal mine in Queensland, Australia, including a sale, but it may wait 12 to 18 months to bring the mine to market, The Australian reported, citing talk of the potential deal. EMR may also place the mine into a continuation fund that investors can capitalize to buy the asset, the report added.
– EQT Partners AB and Temasek aim to sell Indian renewable energy platform O2 Power Pte. Ltd., The Economic Times reported, citing people aware of the matter. EQT and Temasek formed O2 in 2019 and are ready to monetize their investment, the report added.
– Affinity Equity Partners is nearing a deal to acquire Guardian Early Learning Group Pty. Ltd., owned by Partners Group Holding AG, The Australian reported. The Australia-based preschool and early education center operator was put up for sale in 2023, the report added.
– Bridgepoint Group PLC is in advanced discussions to sell MotoGP World Championship commercial rights holder Dorna Sports SL, according to Reuters and Sky News reports. Formula One Group owner Liberty Media Corp. reportedly is the leading contender for the acquisition.
