Today
Billionaire Blundy offloads big Accent stake to British retailer
Brett Blundy has sold his shareholding in ASX-listed Accent, which is behind the Hype DC and Platypus chains, to London’s Frasers Group.
McGrathNicol steps up insolvent trading probe at Scott’s Logistics
A new report shows a major creditor has agreed to stump up funding to allow liquidators to “pursue further investigations”.
Yesterday
Goldman Sachs shops at rival for equities talent
Street Talk understands Morgan Stanley equity sales vice president Beatrice Tsu-Jones is set to join Goldman’s sales team as a VP.
PE makeover! Elmo Software owner parades 10x EBITDA at sale kick-off
Elmo is being pitched with annual earnings of about $40 million, or 10-times the $4 million for the 2022 financial year before Accel-KKR put it in play.
Morgan Stanley Wealth shuffles the deck, snaps up MSCI exec
Street Talk understands head of managed product and capital markets Shaun Bornstein is on his way out the door after eight years.
Zenith head of research nabs Blackwattle Partners gig
Bronwen Moncrieff, a well-known gatekeeper within the funds management industry, has joined Blackwattle Partners’ Investment Council.
Debt deal makers prepare to lend big for winner of $20b-plus AirTrunk
Both sides have arranged their own debt packages on top of the OpCo slice, where IFM and Blackstone are understood to be using different structures.
‘Play the living sector’: MS, Barrenjoey target buyers for $3.5b Aveo
Street Talk understands the sale process is expected to kick off in the fourth quarter of 2024 with a value exceeding $3.5 billion sought.
This Month
Quadrant Growth Fund dealmaker invests in fast-growing medtech
It’s one of few such companies of scale in Australia and is right in Johnny Zhang’s wheelhouse.
Ellerston, Bondi’s 1941 Fund backs Australian navy boat builder
Street Talk understands Sydney-based The Whiskey Project has pinned down $5 million to assist with its US expansion and boost its local manufacturing facility.
Longreach Capital anoints new King; signs UK deal
Sources said London-headquartered secondaries specialist Pantheon Ventures has signed up as the freshly minted unit’s first client.
IFM Investors, ISPT shareholders agree terms for $240b merger
Property investor ISPT is ready to sign on the dotted line with IFM Investors after more than a year of negotiations.
Mark McGowan-chaired Frontier Energy raising $40 million
The company’s brokers Aitken Mount Capital Partners, Barrenjoey and United Capital Partners were crossing fund managers on Monday morning for an equity raise.
Energy Resources of Australia seeks at least $210m, taps three brokers
ERA shares were halted ahead of market open on Monday as the Rio Tinto majority-owned company deals with the government veto of its Jabiluka uranium plan.
Sprott Capital Partners plots backdoor entry to the ASX boards
The deal valued SCP at $US21.25 million ($31.2 million), which Strata would pay in scrip and via a $US10 million equity raise.
Will Lone Star juice up its bid for Orora? Shareholders discuss
Street Talk understands shareholders are debating whether the US private equity firm will come back with a $2.70 offer.
Bain Capital a ‘motivated’ buyer of Permira-owned I-MED
A “limited” amount of new information has been shared with a handful of bidders in the past week to help familiarise them with the business.
Bidders fly into Rex auction; final offers due mid-September
Street Talk understands a fleet of parties have lobbed indicative offers including Allegro, Singaporean businessman Kim Hai Lim and specialist airline Skytraders.
D-Day looms for AirTrunk’s $20b-plus auction; bidders churn through ICs
It’s the biggest deal of the year, and one which almost every investment bank and law firm is devoting their best M&A talent.
ART set to take up Queensland government’s 33pc stake in NZ’s Powerco
The deal comes after fellow shareholder Dexus Group – which has made no secret of its desire to inch up the register – failed to find funding for the bid.