Macquarie’s infrastructure investment arm MIRA has boosted its Australian deal credentials, turning an indicative bid for notoriously difficult Vocus Group into a binding offer in just about record time.
After a long few days of negotiations with Vocus Group, Street Talk revealed early on Tuesday morning that MIRA and co-investor Aware Super had firmed up and signed a $4.5 billion bid.
Everyone involved in the deal said MIRA’s tight turnaround was testament to its pre-bid diligence. It turned up in January having done a lot of work and comfortable with its sector knowledge thanks to telco infrastructure deals in Australia and offshore.
The only question now is whether there’s a bigger bid for Vocus from an interloper. You’d have to think if there was another serious bidder, it would’ve stepped forward by now.
CPE Capital netted a big fish – America’s Mondelez International – in a dream exit for the private equity outfit. The deal is expected to see CPE Capital make about five times its money in less than three years.
American snacks giant Mondelez International has agreed a deal to acquire Australian cracker business Gourmet Food Holdings for more than $400 million.
Australia’s non-bank lenders and their owners have started sinking their teeth into Westpac Banking Corp’s big auto loans portfolio, knowing it would take a Steven Bradbury-like performance to be toppled at the upcoming auction.
The world’s second largest asset manager Vanguard is ready to storm Australia’s superannuation scene this year – it just needs some help on the back end.
You have received this email because you are subscribed to Street Talk First Look with the email address: newsletter@newslettercollector.com
