Good evening,

It's time to crack open a cold one, but not for the dealmakers at local buyout firm Pacific Equity Partners.

Tonight, we take a dive into the sale of Asahi's drinks portfolio and unveil which private equity firms are still in the race and which ones have gone frosty. Indicative bids are due in a fortnight and PEP – which was the hot favourite – is set to drop out, while another suitor's bid is getting creative.

Meanwhile, we check back in on the sale of a basket of Engie's local wind and solar farms, where the field has narrowed to three familiar faces and a smokey from offshore.

Finally, there's a privately owned gas company seeking fresh funds and Miles Advisory has landed a juicy mandate.

Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd
Street Talks Editors