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Blackstone bids for GLP's US warehouse arm, railroad operator Genesee & Wyoming


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Blackstone bids for GLP's US warehouse arm, railroad operator Genesee & Wyoming

S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.

A rolling Blackstone

* Blackstone Group LP offered to buy the U.S. unit of Singapore-based warehouse operator GLP Pte. Ltd. in a potential US$20 billion deal that could be reached as early as the week of May 27, The Wall Street Journal reported, citing people with knowledge of the matter. The private equity giant reportedly is competing with industrial real estate investment trust Prologis Inc. for the GLP business.

SNL ImageA sign for The Blackstone Group LP investment firm outside its offices.
Source: The Associated Press

* Blackstone headed to the next round of bidding for Genesee & Wyoming Inc., along with affiliates of Brookfield Asset Management Inc., Stonepeak Partners LP and EQT Partners AB, Bloomberg News reported, citing people with knowledge of the matter. The railroad operator aims to sell for an offer of $110 per share, for a total equity valuation of about $6.2 billion.

* Blackstone and Brookfield are also among the bidders for the luxury hotel business of Chinese insurer Anbang Insurance Group Co. Ltd., people familiar with the sales process told the Financial Times.

* Blackstone and two drilling companies are interested in buying QEP Resources Inc., people with knowledge of the matter told Bloomberg. Elliott Management Corp. also remains in the race for the natural gas and oil company.

* Blackstone is also considering purchasing German wind turbine maker Senvion SA, which attracted two other suitors, Reuters reported, citing German Manager Magazine.

IPO zone

* Silver Lake Partners-backed Hollywood talent agency Endeavor Group Holdings Inc. filed for an IPO on the NYSE with a proposed offering price of up to $100.0 million of its class A common stock.

* KKR & Co.-owned train booking platform Ltd. is planning a public listing on the London Stock Exchange's Main Market.

* Lone Star is weighing a potential sale or IPO of German property developer Isaria Wohnbau AG in autumn, people close to the matter told Reuters.

SNL ImageA man walks past a Thomas Cook shop in London.
Source: The Associated Press

On the block

* Vista Equity Partners LLC entered the race to acquire a majority stake in data analytics company The Kantar Group Ltd. from advertiser WPP PLC, joining three other U.S. bidders, Reuters reported, citing two sources close to the deal.

* Private equity investors are among the potential bidders in Hudbay Minerals Inc.'s planned auction of a 30% stake in an Arizona copper mine project, Bloomberg News reported, citing people familiar with the matter.

* London-based travel operator Thomas Cook Group PLC confirmed that Triton made an unsolicited indicative offer for its Northern Europe business.

It's a deal

* TowerBrook Capital Partners LP agreed to sell materials recycler Metallo Group Holding to copper producer Aurubis AG for €380 million.

* TPG Growth is selling Cancer Treatment Services International Inc. to medical device manufacturer Varian Medical Systems Inc. in a $283 million deal.

* Charme Capital Partners SGR SpA is selling its majority interest in ATOP SpA, maker of machines used for electric car production, to IMA Group in a deal with an enterprise value of about €380 million.

Brexit brunt

* A Greybull Capital LLP spokesperson told S&P Global Market Intelligence that Brexit-related issues led in part to the failed rescue talks between the investor and the U.K. government for British Steel Corp. Ltd., pushing the steelmaker into bankruptcy.

SNL ImageFormer U.S Vice President and climate activist Al Gore makes a speech in a U.N. climate summit.
Source: The Associated Press

* Bridgepoint Advisers Ltd. is preparing an onshoring plan to take advantage of the cheap labor stemming from the significant weakening of the British pound due to Brexit, the FT reported, citing an interview with Bridgepoint Managing Partner William Jackson.

* Cerberus Capital Management LP aims to pull in about $3 billion for its first dedicated private equity fund, Bloomberg Markets reported, citing people familiar with the matter.

* Generation Investment Management LLP, the sustainable investment firm of Al Gore, collected US$1 billion for Generation IM Sustainable Solutions Fund III LP.

* Global Infrastructure Partners raised $1.00 billion for GIP Strategic Alliance SMA I LP from a single investor.

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