BGH Capital stops in for a drink at KKR ’s pub biz; Follow-on selldown at Newcastle coal terminal; George Clinical gets ‘2A’ bids, Partners Group drops

Good evening,

BGH Capital likes to keep its hands full.

While its dealmakers plough through Jeld-Wen Australia’s data room, something else has caught their fancy – KKR’s good ol’ pubs roll-up Australian Venue Co.

Street Talk understands BGH Capital wants to have a deal hammered out before Christmas and has Goldman Sachs and Gilbert + Tobin to help.

BGH seems to be one of the last few parties left standing, after KKR tapped Jefferies to run a buyer search in September. However, it wasn’t known if the Melbourne-based private equity investor had gone exclusive at AVC.

If it’s successful in getting AVC, it would scratch BGH dealmakers’ longstanding itch for a pub business.

Just last year, they tried (and failed) to take Endeavour Group before it sailed off to the ASX boards to become a large cap.

Elsewhere, we got our hands on a secondary sale of high-yield notes in Newcastle Coal Infrastructure Terminal; Partners Group had dropped out of George Clinical’s auction; and MinRes boss Chris Ellison was lurking on the shareholder register of a rare earths IPO candidate.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors