Latest news with #PacificEquityPartners
Bloomberg
2 days ago
- Business
- Bloomberg
Pacific Equity Nearing Deal for Spark's Data Centers, AFR Says
Pacific Equity Partners is in advanced talks to acquire a majority stake in Spark New Zealand Ltd. 's data center business in a deal that would value the assets at more than NZ$600 million ($357 million), the Australian Financial Review reported. The private equity firm is expected to add a stake of between 50% to 70% of Spark's data center business, according to the newspaper, which didn't cite a source for the information.
AU Financial Review
11-07-2025
- Business
- AU Financial Review
Johns Lyng agrees to $1.3b takeover bid from private equity suitor
Johns Lyng Group says it has agreed to sell itself to Pacific Equity Partners in a deal that values the building services business at $1.3 billion. The company had a market capitalisation of $719 million last month. That was before The Australian Financial Review 's Street Talk column revealed it had been approached by a private equity firm which had secured the exclusive right to conduct due diligence on the business, ahead of a formal bid.
Business Recorder
11-07-2025
- Business
- Business Recorder
Australian shares inch lower as banks, gold stocks drag; Johns Lyng surges
Australian shares edged lower on Friday, as losses in banking and gold stocks outweighed gains in miners, while Johns Lyng Group soared after the building services provider agreed to a takeover offer from Pacific Equity Partners. The S&P/ASX 200 index fell 0.1% to 8,583.6 by 0026 GMT. The benchmark has lost 0.2% so far in the week after two consecutive weeks of gains. Overnight, the S&P 500 and Nasdaq registered record closing highs, and Nvidia's market value closed above $4 trillion for the first time. Markets largely shrugged off US President Donald Trump's latest tariff missives, including a new 50% tariff on copper imports from August 1. In Sydney, shares of Johns Lyng Group climbed 23.3% and were on track for their best day ever, after the company agreed to be acquired by Pacific Equity Partners for an equity value of A$1.1 billion ($725.01 million). Index heavyweight financials fell 0.8%. National Australia Bank, Westpac and Commonwealth Bank of Australia were down between 0.1% and 0.3%. The Reserve Bank of Australia on Tuesday held its cash rate steady at 3.85% in a surprise move, saying the majority of the board wanted to wait for more information to confirm inflation was slowing. Gold stocks dropped 0.9%, with Evolution Mining and Northern Star Resources shedding 1.9% and 0.7%, respectively. Miners rose 2.1% after iron ore prices climbed overnight on hopes of a new wave of reforms to rein in steel supply and more stimulus measures from top consumer China. Shares of BHP and Rio Tinto were up 2.6% and 2.5%, respectively, while Fortescue advanced 3.8%. In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 12,781.39. It was down 0.1% so far in the week.
Wall Street Journal
11-07-2025
- Business
- Wall Street Journal
Pacific Equity Partners' Johns Lyng Bid Followed Rapid A$3.2 Billion Fund Raise
SYDNEY–When Pacific Equity Partners sought to tap investors for its seventh private-equity fund, it faced a daunting global backdrop. Conflicts were raging in Europe and the Middle East, China's economy had gone off the boil, and the U.S. was upending trade relationships with tariffs. But rather than struggle to lock down interest, PEP's Fund VII was oversubscribed and closed at a hard cap of 3.2 billion Australian dollars, equivalent to US$2.1 billion. The fundraising included commitments from asset managers in North America and Asia, as well as private-wealth groups.
Mint
11-07-2025
- Business
- Mint
Australian shares inch lower as banks, gold stocks drag; Johns Lyng surges
July 11 (Reuters) - Australian shares edged lower on Friday, as losses in banking and gold stocks outweighed gains in miners, while Johns Lyng Group soared after the building services provider agreed to a takeover offer from Pacific Equity Partners. The S&P/ASX 200 index fell 0.1% to 8,583.6 by 0026 GMT. The benchmark has lost 0.2% so far in the week after two consecutive weeks of gains. Overnight, the S&P 500 and Nasdaq registered record closing highs, and Nvidia's market value closed above $4 trillion for the first time. Markets largely shrugged off U.S. President Donald Trump's latest tariff missives, including a new 50% tariff on copper imports from August 1. In Sydney, shares of Johns Lyng Group climbed 23.3% and were on track for their best day ever, after the company agreed to be acquired by Pacific Equity Partners for an equity value of A$1.1 billion ($725.01 million). Index heavyweight financials fell 0.8%. National Australia Bank, Westpac and Commonwealth Bank of Australia were down between 0.1% and 0.3%. The Reserve Bank of Australia on Tuesday held its cash rate steady at 3.85% in a surprise move, saying the majority of the board wanted to wait for more information to confirm inflation was slowing. Gold stocks dropped 0.9%, with Evolution Mining and Northern Star Resources shedding 1.9% and 0.7%, respectively. Miners rose 2.1% after iron ore prices climbed overnight on hopes of a new wave of reforms to rein in steel supply and more stimulus measures from top consumer China. Shares of BHP and Rio Tinto were up 2.6% and 2.5%, respectively, while Fortescue advanced 3.8%. In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 12,781.39. It was down 0.1% so far in the week. ($1 = 1.5230 Australian dollars) (Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu)
