IPOs & Markets
Bankers are working on new listings for at least four private equity-owned companies hoping to raise a combined $1.4 billion.
Future Fund said its annual return of 11.3% was also slightly lower than the 11.5% it reported the previous quarter, but still beat its self-imposed r
KKR, Deutsche Bank and Varde Partners reportedly pulled the expected A$1 billion ($676.2 million) offering even after finding buyers for all its share
The owners will now seek to raise about $678.6 million in exchange for up to 33% of the company.
The Sydney-based firm has appointed KPMG Corporate Finance to conduct an initial strategic review of Steel Mains.
A potential deal would value the unit at close to $1.35 billion.
The move will allow the startup to compete against the country's 'Four Big' lenders that dominate the sector.
Future Fund, posted returns of 11.5% for the year ended June 30, the highest since September 2015 and also beating its self-imposed 5.6% target.
The deal comes as the Murdoch-controlled firm hunts for growth following the sale of its film and TV assets to Disney.
In 2012, Australia approved Ruyi's $158.04 million purchase of an 80% stake in Cubbie.
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