Good evening,
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And surprisingly, it was at Commonwealth Bank of Australia and will have the private equiteers take control of CBA's $135 billion superannuation manager Colonial First State. We revealed the deal on Wednesday morning, and take a look at how it could end up a big money-spinner for KKR. |
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Another American buyout firm, Madison Dearborn Partners, provides the next proof of life. It has kicked off a $725 million debt deal to fund its proposed acquisition of disability services business APM. It's the first chunky leveraged finance package we've seen hitting the market since the COVID-19 outbreak. |
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Sarah Thompson, Anthony Macdonald and Tim Boyd |
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| Street Talk No one knows if there's a deal there, let alone what it would look like, but there's plenty of sniping and sideways discussions. |
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| Street Talk Hats off to the private equity giant - it had the guts and ability to stitch up the $3.1 billion deal during a challenging period. |
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| Street Talk The acquisition shapes as an important litmus test for Australian leveraged buyouts. |
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| Street Talk The company is seeking to raise the funds in about the time it takes to make a toasted sandwich. |
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