5 days ago
- Business
- AU Financial Review
Dennis Bastas secures big payday as American giant takes DBG stake
Dennis Bastas has offloaded a significant stake in the beauty and pharmaceutical empire he founded a decade ago to a high-profile American merchant bank that values the business at more than $7 billion.
The sales of a $1.16 billion holding in Bastas' DBG Health to a private equity fund run by BDT & MSD Partners was overseen by its chairman and co-chief executive Bryon Trott, a three decade Goldman Sachs veteran who is now a close advisor to Warren Buffett and wealthy families like the Waltons.