Another data center for Blackstone

Nearing a deal for Macquarie's AirTrunk

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Transacted
September 02, 2024

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Transacted


Happy LDW. A condensed briefing today with an update on a handful of new deal developments that happened over the long weekend:

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DEALS, DEALS, DEALS

• Blackstone and Canada Pension Plan Investment Board have emerged as frontrunners in the process to acquire Australian data center group AirTrunk for around A$20 billion from Macquarie Group and Canada's Public Sector Pension Investment Board, per Reuters.

• Platinum Equity acquired a controlling stake in Inventia Healthcare's core oral solid dosage business, a Mumbai-based generic pharmaceutical manufacturer.

• Atlas Partners is in advanced talks to acquire a minority stake in claims management business Sedgwick from Carlyle Group at a valuation of around $13 billion, per Bloomberg.

• Zellis, an Apax Partners-backed payroll software company, is nearing a deal to acquire employee benefits platform Benify from Vitruvian Partners.

• Phoenix Equity Partners invested in Cybanetix, a UK cybersecurity company.

• Blackstone has agreed to acquire a majority stake in a portfolio of European warehouses managed by Burstone Group at a valuation of around €1 billion, per Bloomberg.

• Virgin Media O2, the UK's second-largest fixed network jointly owned by Liberty Global and Telefonica SA, is seeking outside investors to raise at least £1 billion through a minority stake sale in its newly created £5 billion network company.

• Amazon (Nasdaq: AMZN) is hiring the founders of warehouse robot-software maker Covariant and around a quarter of its staff, while also licensing Covariant's robotic foundation models.

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