Oaktree Capital’s consortium is facing stiff competition at Star Entertainment. Street Talk understands Washington H. Soul Pattison has held discussions with pub baron and key shareholder Bruce Mathieson to lob an alternative proposal. Both are already shareholders, and would be likely to seek a friendlier solution than Oaktree, which is known to play for control. The process is being run by Ashurst and Barrenjoey as part of a strategic review of Star’s Sydney operations.
Elsewhere, Pemba Capital’s premium insurance funding business Arteva Funding has hit the market, and Stanton Road Partners has been busy pitching the business to prospective buyers. Affinity Equity Partner’s Scottish Pacific Group is understood to be in the lead.
Finally, suitors are playing the waiting game at Melbourne toll-road operator EastLink. Bidders are understood to be waiting to see how the ACCC process plays out, with the auction start pushed out to late September.
Happy reading,
Sarah Thompson, Kanika Sood and Emma Rapaport Street Talk Editors
Street Talk understands Pemba has had boutique corporate advisor, Stanton Road Partners, shopping the business to prospective buyers for several weeks now.
Consolidation in funds management is proving to be a ripe hunting ground for superannuation funds recruiting for plum roles in their internal investment teams.
