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Deutsche Bank lines up $200m financing for Blackstone’s renewed bid for Trans Maldivian Airways

Private Equity Insights

The bid for TMA is reportedly valued at under $500m. Ownership later transitioned to Bain Capital and Tempus Group, before shifting to Carlyle Group, King Street Capital Management, and Davidson Kempner Capital Management in 2021 following a debt restructuring. Blackstone has not yet formally mandated the funding.

Bidding 147
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CVC considers takeover bid for The Telegraph following government block on Abu Dhabi deal

Private Equity Insights

CVC Capital Partners is reportedly preparing a bid to acquire The Telegraph Media Group, marking a potential milestone as the first private equity takeover of a UK news outlet. Sources indicate that CVC, known for its investments in sports brands such as the Six Nations and La Liga, is exploring the possibility of submitting a formal bid.

Bidding 130
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Update: KKR, CKI, and FitzWalter among six bidders for Thames Water equity rescue

Private Equity Insights

The embattled UK utility, which serves 16 million households and carries nearly 20bn in debt, is aiming to secure billions in new equity by the end of June to stave off insolvency. The process remains fluid, with all bids currently non-binding.

Bidding 147
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EQT tops Bundesliga media rights bidding at $14bn, trailed by CVC, Blackstone, and Advent

Private Equity Insights

EQT AB is leading the bidding as private equity firms compete for a stake in the media rights business of the Bundesliga, Germany’s main football competition, people with knowledge of the matter said. Deliberations are ongoing, and the private equity firms could revise their bids following further negotiations.

Bidding 276
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Northern Oil and Gas makes PE-owned Granite Ridge bid

Private Equity Wire

Based in Minneapolis, Northern has made at least two offers to Granite Ridge, with the most recent bid, submitted in the past few weeks, offering a roughly 20% premium over Granite Ridge’s current share price. As of September, Granite Ridge’s net debt stood at about $136m, according to LSEG data. after the announcement.

Bidding 98
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Elon Musk’s X secures nearly $1bn in equity at $32bn valuation

Private Equity Insights

According to sources, Musk personally participated in the raise, alongside Darsana Capital Partners, which had previously acquired portions of Xs debt. The company is reportedly considering using part of the proceeds to reduce its remaining debt burden.

Buyout 147
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Does Carvana's Debt Deal Set Shareholders Up for Losses?

The Motley Fool

But a debt restructuring deal has offered some relief and could even put Carvana on a path to positive free cash flow. Nonetheless, the deal, which eliminates most of its near-term debt obligations, appears to be financed mainly on the backs of shareholders. Under the deal, bondholders are trading debt due in 2025 or 2027.