Australia’s Gateway Lifestyle receives $685m bid from Brookfield


The offer at A$2.30 per share represents a 7.5 percent premium to Gateway shares’ closing level on Wednesday.

PAG-backed Cushman & Wakefield files for IPO, said to seek $5b valuation

TPG is the largest shareholder of Cushman & Wakefield with a 44.7% stake, followed by PAG Asia Capital (33.6%) and Ontario Teachers’ (11.7%).

Australia’s APN sweetens bid for rival in race for billboard assets

Four firms control 97% of Australia’s $660 million outdoor ad industry and, with digital ad boards dramatically lifting their earnings potential, they are all looking at deals in an M&A rush that is drawing close scrutiny from regulators.

UAE regulator requests listed companies to declare exposure to Abraaj

Air Arabia, a Dubai-listed low-cost carrier, said this week it had a $336-million exposure to Abraaj. Shares in the airline plunged because of its links to the company.

Australia’s AMA Group halts Blackstone deal after tax ruling

AMA Group said it has halted a deal to sell its vehicle panel repair arm to Blackstone Group for A$508 million ($375 million) following an unfavourable ruling from the Australian Taxation Office.

South Korea’s internet giant Naver to join Sequoia, SoftBank funds as LP: Report

Naver, which has about $2 billion in cashable assets, is joining the new funds of Sequoia and SoftBank after both firms invested $50 million in the Chinese operations of Snow, Naver’s video messaging app, for a 20 per cent stake in January.

Abraaj founder apologises “unreservedly” in memo to employees

In an internal note to employees, Arif Naqvi said he had no knowledge of intentional wrongdoing at the buyout firm.

Guggenheim said to mull stake sale for $250b asset management unit

Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds and investment pools in Europe, the Middle East and Asia.

Walmart borrows $16b to fund Flipkart buy in year’s second-largest bond sale

Walmart Inc. sold $16 billion of bonds to help finance its investment in India’s biggest online seller, in the second-largest U.S. corporate debt sale of the year. The retailer offered fixed- and floating-rate notes in nine parts. The longest bond, a 30-year security, yields 1.05 percentage points above Treasuries, less… Read more »

Taiyo Nippon, Carlyle lead race to buy Linde and Praxair assets

Taiyo is in the frame to bag the European package, while Carlyle would take the U.S. assets.