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.
– A specialist in retail and consumer investments, private equity firm Sycamore Partners Management LP is weighing the acquisition of department store chain Macy’s Inc., Women’s Wear Daily reported, citing two sources. The sources said Sycamore has raised debt toward what may be an all-cash offer.
– Blackstone Inc. and HitecVision AS are interested in acquiring a minority stake in Novamont SpA, a bioplastics and biochemicals business, from its parent, energy company Eni SpA, Reuters reported, citing a source close to the matter. The source said negotiations are in a preliminary phase, adding Eni has not decided the size of the stake it’s willing to sell.
– Sustainability-focused investment firm Partnera Oy acknowledged rumors it is considering the sale of its ownership stake in Foamit Group Oy. Partnera acquired the foam glass manufacturer in 2021.
– Bain Capital LP is in talks with Macquarie Group Ltd. to acquire a majority stake in VEH Global India Private Ltd., an end-to-end provider of renewable energy solutions doing business as Vibrant Energy, The Economic Times reported, citing sources aware of the development. Bain is doing due diligence on the company and a final offer “is still some time away,” said one of the sources cited in the story.
– Listed private equity firm KKR & Co. Inc. and two Canadian pension funds, Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board, are among the major global infrastructure investors interested in acquiring 230 kilometers of Indian roadway in five segments from National Investment and Infrastructure Fund Ltd., a government-backed infrastructure fund, The Economic Times reported, citing multiple people aware of the development. Several Asian and European infrastructure companies have also signed a nondisclosure agreement to explore a potential acquisition, with nonbinding offers anticipated in mid-January.
– Growth equity investor General Atlantic Service Co. LP is in talks to acquire UK-based infrastructure fund manager Actis LLP, Financial Times of London reported, citing four people with knowledge of the plans. While discussions are preliminary and could fall apart, the acquisition of Actis would diversify General Atlantic’s portfolio and better position the private equity firm ahead of an anticipated initial public offering while also expanding its investor base at a time of slow PE fundraising.
– Silver Lake Technology Management LLC is seeking buyers for two software platforms TrendMiner NV and Cumulocity GmbH while examining its options for a third, alfabet GmbH, Handelsblatt reported, citing sources familiar with the talks. All three businesses are part of Software AG, which is majority-owned by Silver Lake.
– India-focused private equity firm ChrysCapital is closing in on a deal to acquire a significant minority stake in New Delhi Centre For Sight Ltd., which would clear an exit path for private equity firm Mahindra Partners, owner of a roughly 32% stake in the network of eye care clinics, The Economic Times reported, citing people aware of the development.
– Natural resources investor Gunsynd PLC is seeking acquisition opportunities in North America, Regulatory News Service reported.
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