DataRoom AM: Macquarie's mortgage fancy

By Daniel Palmer

As discussed in this column yesterday, talks are believed to be underway with Government Investment Corporation of Singapore and Canada’s PSP over a possible 50 per cent stake in nine Westfield-branded NZ malls and if a deal cannot be reached, a $1bn float of the assets may instead be pursued.

The float, to move forward later this month, is likely to raise $400 million-plus, the AFR reports, with Morgans and Evans & Partners serving alongside Macquarie in lead advisory roles.

After securing the green light from the Foreign Investment Review Board last week, Thailand’s BCP Energy is ready to badge its $110m takeover of Nido Petroleum unconditional once it clears the 50 per cent acceptance mark.

Meanwhile, the AFR reports Kohlberg Kravis Roberts has opted not to offer former Coca-Cola Amatil boss Terry Davis a job should it win control of Treasury Wine Estates, ending its relationship with him after calling on his advice for the potential $3. 4bn takeover.

Elsewhere, APN News & Media is mulling a float of its New Zealand business, which includes ownership of the New Zealand Herald and The Radio Network.

The potential NZ float comes as Quadrant Private Equity considers a $500m float of APN Outdoor on the ASX, less than a year after it bought out APN’s stake in the advertising group.

Read more here: Business Spectator


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