KKR weighs sale of InCred stake; Bain teams with Temasek for Haldiram 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.

– Mizuho Financial Group Inc. is in talks to acquire some of KKR & Co. Inc.'s stake in India-based nonbanking finance company InCred Financial Services Ltd., The Economic Times reported, citing multiple people aware of the discussions. KKR plans to divest an approximately 10% stake ahead of a potential IPO for InCred in the next 12 to 24 months, the report added.

– Bain Capital LP and Temasek Holdings (Pvt.) Ltd. partnered to counter a Blackstone Inc.-led coalition's bid to acquire a controlling stake in Indian processed food and snacks business Haldiram Snacks Pvt. Ltd., The Economic Times reported, citing people aware of the matter. Partnering with Blackstone are GIC Pte. Ltd. and Abu Dhabi Investment Authority, according to the publication.

– Advent International LP is preparing to exit Indian biopharmaceutical company Bharat Serums and Vaccines Ltd. through a sale to Mankind Pharma Ltd., Business Standard reported, citing media reports. Advent is seeking $2 billion for the business, the report added.

– Cinven Ltd. is preparing to launch a sale process for supply chain software business Jaggaer LLC, Reuters reported, citing people familiar with the matter. Cinven has hired advisers and is targeting a valuation of $3 billion, including debt, for Jaggaer, the report added.

– Warburg Pincus LLC, General Atlantic Service Co. LP, TPG Capital LP and Ontario Teachers' Pension Plan Board are vying for a majority stake in pure-play data and digital engineering solutions company Altimetrik Corp., The Economic Times reported, citing people aware of the development. Altimetrik is seeking an approximately $1.5 billion valuation for the stake, the report added.

– Blackstone Inc. is eyeing the acquisition of healthcare outsourcing company OMH HealthEdge Holdings LLC, doing business as Omega Healthcare Management Services and majority owned by Everstone Group's Everstone Capital Asia Pte. Ltd. unit and Goldman Sachs Group Inc., Business Standard reported, citing a source close to the development. Both Everstone and Goldman are seeking to exit their investments in the business, which has a $1.7 billion estimated valuation, the report added.

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