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Top 5 new European private equity M&A pipeline deals

Energie Steiermark (28-Oct-2022)

Infrastructure investors are mulling bids for a minority stake in Austrian energy utility Energie Steiermark, as Macquarie Asset Management (MAM) prepares for the launch of the sale process, Mergermarket reported. Allianz Global Investors and Swiss Life Asset Managers are lining up to bid for the deal. AXA Investment Managers may also take part in the process. French manager Vauban Infrastructure Partners is also considering bidding for the stake in the utility. Graz-headquartered Energie Steiermark reported EUR 143.5m of EBITDA last year.

Busy Bees Nurseries (27-Oct-2022)

Ontario Teachers’ Pension Plan (OTPP) is preparing to launch a stake sale of Busy Bees Nurseries in early 2023, Mergermarket reported.  A process could launch as early as 1Q23. The company could reportedly fetch between GBP 2.5bn-GBP 3.5bn. OTPP and minority owner Temasek intend to dilute their position while retaining a solid enough equity position to benefit from potential future upside.

Prenatal Retail Group (27-Oct-2022)

Italian retail conglomerate Artsana, controlled by private equity firm Investindustrial, is looking to sell off a majority stake in Prenatal Retail Group (PRG), an Italy-based babies' clothing and accessories chain of shops, Milano Finanza reported. Mediobanca and Lazard have been appointed to handle the dossier, which is in its initial stages with the sales process itself likely to kick off in 2023. The partner could either be financial or industrial. Artsana could retain a minority stake. PRG posted revenues of more than EUR 1bn and EBITDA of EUR 148m in 2021.

Webedia Content (26-Oct-2022)

French media group Webedia received non-binding offers from several large cap sponsors for its content business last week, Mergermarket reported. KKR [NYSE: KKR] and BC Partners are among the parties that submitted offers for Webedia Content. Bain Capital had also made an offer.

Attero (26-Oct-2022)

Macquarie has been hired to advise 3i Infrastructure and DWS on the divestment of Dutch waste company Attero, Het Financieele Dagblad reported. The final decision on a divestment has not yet been made. EBITDA last year was nearly EUR 130m. Attero could cost a buyer more than EUR 1bn.

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