KKR could team with PEP for SAI Global offer in wake of competition


dice risk gambleUS buyout house KKR has reportedly teamed up with Australian peer Pacific Equity Partners (PEP) to make a joint bid for risk management company SAI Global.

The pair are expected to bid for the business by the July 15 deadline according to the Australian Financial Review.

PEP was staring at a bidding war for the company last month amid interest from at least two unnamed parties, Reuters reported at the time.

An indicative $1.1bn bid from PEP valued risk management specialist SAI at between A$5.10 and A$5.25 per share when it was submitted in May.

Late last month PEP-backed toilet paper and tampon maker Asaleo Care rose in its debut on the Australian Securities Exchange.

Shares in the company topped A$1.7 apiece in the first hours of trading, up from the IPO price of A$1.65, which was in the middle of its indicative range of A$1.55 to A$1.80.

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