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Good evening,

The S&P/ASX 200 fell for a third day in a row on Wednesday and is on track for its worst week since November 2018, amid warnings the coronavirus could turn into a pandemic. 

The local index has now lost 489 points since its February 20 peak and the spread of the virus shows no signs of slowing. 

However, amid all the gloom, there's some good news for listed car dealership giant AP Eagers, which reports its full-year results on Thursday. 

Street Talk can reveal that a local private equity firm has agreed terms with AP Eagers to buy its refrigerated logistics business, which it has been trying to sell since it merged with Automotive Holdings Group last year. 

The PE firm has financing locked in and an announcement is expected as early as Thursday. 

Meanwhile, shareholder advisory firm ownership matters has been digging through ASX-listed waste manager Bingo Industries' accounts and has stumbled across a cash flow error

We've got the report.

Finally, unloved Kiwi telecommunications parts maker Rakon has been in talks with a local private equity firm about going private with the help of Credit Suisse's NZ affiliate Jarden.

Happy reading, 

Sarah, Anthony and Tim.

Tomorrow's headlines

Crescent Capital Partners mulls life as a Rakon-teur

Unloved Kiwi telecoms parts maker Rakon has caught the eye of an Australian PE firm.


Aldi March-es to the start-line for its sale and leaseback

The starting gun is about to fire on the $700m sale and leaseback of four local distribution centres. 


PE to drive off with AP Eagers' refrigerated logistics unit

A deal long trapped in the deep freeze of corporate Australia is ready to be thawed out.

 

Bingo! Ownership Matters uncovers accounting error

The governance firm has been rummaging through waste manager Bingo Industries' garbage.


Hotel Property Investments seeks fresh capital for pub purchases

ASX-listed Hotel Property Investments was tapping the market for fresh equity on Wednesday morning, to partially pay for…

 
 
Sarah Thompson, Anthony Macdonald and Tim Boyd.
Street Talk Editors
 

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