The acceptance by Qantass board of an A$11.1 billion (US$8.7 billion) bid for the Australian airline cements private equitys place in the countrys mainstream, despite a growing sense of unease among the public and some thorny remarks from senior bankers.
Australian private equity had already had a landmark year in 2006 even before the Qantas bid was accepted. If that deal goes through, A$22 billion will have been committed to venture capital deals for Australian assets in 2006, compared with A$2 billion the previous year and the figure would have been much higher had an A$18 billion bid by a Kohlberg Kravis Roberts consortium for supermarket chain Coles gone through. (Instead, Coles twice refused the consortium even the right to do due diligence.) Department store Myer has gone to Newbridge for A$1.4 billion; the media assets of the Packer...
This is archived content. Your current settings does not currently allow access to the archive. To gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoneys polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe