Sydney-based private equity firm Pacific Equity Partners (PEP) could sell its stake in share registry Link Market Services to ASX, the Australian bourse said on Friday, in a deal that could fetch up to A$1.4bn ($1.36bn).
The country’s stock exchange said it is considering buying the business, although added that “there is no certainty that ASX will participate in a transaction or that any negotiations or due diligence that could result in a transaction will be undertaken by ASX.”
PEP is understood to have begun the auction process for Link Market Services last month and hired Goldman Sachs to advise on the sale, which could rank as the biggest deal in the Asia Pacific region so far this year.
Link Group, which PEP bought in 2005 and has since completed around 20 bolt-on acquisitions, comprises share registry company Link Market Services (LMS) and superannuation administration business AAS.
LMS maintains the registers and provides registry related services to approximately 450 companies listed on the Australian Stock Exchange.
Other interested parties or include global private equity firms Bain Capital, Blackstone, Carlyle, Hellman & Friedman and KKR, Reuters reported on Friday. PEP will retain a minority stake in the business.
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