GE Vernova Is Exploring a Sale of Its Proficy Software Business
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Adevinta explores sale of its Spanish business as owners pursue break-up, sources say
Norway’s Adevinta, acquired by a consortium led by Blackstone (BX.N) and Permira a year ago, is working with advisers on the sale of the Spanish business. The business could fetch more than 2 billion euros ($2.2 billion), one of the two sources said. The company’s strategy has been to concentrate on its largest markets – Germany, France and Benelux – since the buyout. Earlier this year, the company agreed to sell its stake in willhaben, Austria’s leading digital consumer marketplace business.
LONDON, May 16 (Reuters) – Online classifieds group Adevinta is exploring the sale of its Spanish business, two sources with knowledge of the talks said, as its private equity owners seek to break-up the company to focus on three main markets and boost returns.
Norway’s Adevinta, acquired by a consortium led by Blackstone (BX.N) , opens new tab and Permira a year ago, is working with advisers on the sale of the Spanish business, which includes brands such as job-search platform Infojobs or property website Fotocasa, the sources said.
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The business could fetch more than 2 billion euros ($2.2 billion), one of the two sources said. A third source said that Adevinta’s earnings before interest, taxes, depreciation and amortisation (EBITDA) are around 130 million euros.
Blackstone and Permira declined to comment. Adevinta did not immediately respond to requests for comment.
Potential buyers of Adevinta’s Spanish operations could include financial sponsors and other companies with interest in the online classifieds sector, one of the sources said, who might seek to acquire part or all of Adevinta’s assets in Spain.
Earlier this year, Adevinta agreed to sell its stake in willhaben, Austria’s leading digital consumer marketplace business, and is considering the IPO of German online auto marketplace Mobile.de in 2026, Reuters reported in January.
Adevinta’s strategy has been to concentrate on its largest markets – Germany, France and Benelux – since the buyout.
Adevinta owns six different marketplaces in Spain including coches.net, a leading classifieds site for second-hand cars.
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Reporting by Andres Gonzalez, editing by Jane Merriman
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Sabre to cut debt with $1.1 billion sale of hospitality software to TPG, shares jump
Sabre Corp (SABRO) said on Monday it will sell its hospitality software platform to asset manager TPG (TPGO) for $1.1 billion. The travel technology provider’s shares nearly 26% in early trading. The company had a market capitalization of $845 million as of last close, according to data compiled by LSEG. In contrast, its total debt stood at about $4.5 billion, net of cash, as of the end of December, its annual filing said.
April 28 (Reuters) – Sabre Corp (SABR.O) , opens new tab said on Monday it will sell its hospitality software platform to asset manager TPG (TPG.O) , opens new tab for $1.1 billion and use the cash to pare its debt, lifting the travel technology provider’s shares nearly 26% in early trading.
The stock is now up 13.5%. The company had a market capitalization of $845 million as of last close, according to data compiled by LSEG. In contrast, its total debt stood at about $4.5 billion, net of cash, as of the end of December, according to its annual filing.
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Sabre has made several moves to pare its debt, including a refinancing in December and the repayment of debt maturities earlier this month, the company said.
Monday’s deal comes a month after Reuters reported that Sabre was exploring a sale of its hospitality software SynXis to help pare its debt.
TPG will invest in the unit through its U.S. and European private equity platform, with the transaction expected to close by the end of the third quarter 2025.
Sabre’s SynXis serves as an integrated system of record for reservation and guest information for hotels.
The company’s customers include top airlines, travel agencies, hotels, tour operators, car rental brands and rail carriers.
“This divestiture positions Sabre to focus on our core airline IT and travel marketplace platforms,” said CEO Kurt Ekert.
The deal also comes at a time of uncertainty for the travel industry due to fears of an economic recession stemming from U.S. President Donald Trump’s sweeping import tariffs.
“Amid uncertain near-term travel demand and enduring elevated financing costs, the sale should alleviate investor concerns about Sabre’s ability to meet its debt obligations and continue financing its core distribution business, given its 2024 debt/adjusted EBITDA ratio of 10 times,” analyst Dan Wasiolek said in a Morningstar note.
Reporting by Aatreyee Dasgupta and Aishwarya Jain in Bengaluru; Editing by Leroy Leo and Alan Barona
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Exclusive: Clarivate’s IP unit draws private equity interest, sources say
CD&R and Nordic Capital are among private equity groups weighing possible bids for Clarivate’s intellectual property (IP) unit. The two private equity funds were among those that submitted expressions of interest, the people said. The sources cautioned that no deal was guaranteed and Clarvate may decide to focus on other divestitures if offers for its IP unit are not eventually high enough. The plans come afterClarivate’s shares have fallen 90% from a high in 2021 as it struggles with organic growth and customer retention. The company has an enterprise value of $6.6 billion according to LSEG data, and is hoping for a valuation north of $4 billion for the IP assets, the sources said.
LONDON/NEW YORK, April 25 (Reuters) – CD&R and Nordic Capital are among private equity groups weighing possible bids for Clarivate’s intellectual property (IP) unit, two people with knowledge of the matter told Reuters.
Clarivate, which has headquarters in London, said in February it was exploring strategic alternatives including potential divestments as part of plans to create value for shareholders, and had appointed Morgan Stanley and Moelis & Company as financial advisers.
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The New York-listed information group has been holding conversations with bidders about its IP unit and invited them last month to submit indications of interest, the people said, speaking on condition of anonymity because the matter is private. The two private equity funds were among those that submitted expressions of interest, the people said.
The sources cautioned that no deal was guaranteed and Clarivate may decide to focus on other divestitures if offers for its IP unit are not eventually high enough.
Spokespeople for Clarivate, CD&R and Nordic Capital declined to comment.
The plans come after Clarivate’s shares have fallen 90% from a high in 2021 as it struggles with organic growth and customer retention.
Revenue at the group was $2.56 billion in 2024, compared to $2.63 billion a year earlier, while earnings before interest, tax, depreciation and amortisation (EBITDA) narrowed to $1 billion from $1.12 billion a year earlier, according to its latest annual report.
Clarivate, which has an enterprise value of $6.6 billion according to LSEG data, is hoping for a valuation north of $4 billion for the IP assets, the two people and a third one said.
However, certain prospective bidders believe the IP unit may be worth less, the people said.
EBITDA at Clarivate’s IP unit fell by 10.5% to $358 million for the year ending December 2024, partly driven by lower subscription revenues and a decline in renewal volumes, according to its latest annual report.
Nordic Capital has been considering buying the IP unit via Anaqua, the IP software business it acquired last November for $2.5 billion, the people said. Anaqua did not respond to requests for comment.
Clarivate’s top shareholder is private equity firm Leonard Green & Partners with a 16.9% stake, followed by Clarkston Capital Partners with 10% and Italy’s Agnelli family with 9.7%, according to LSEG data.
Clarivate’s IP business, previously called CPA Global, offers software and services that manage patents, trademarks and contracts for law firms and corporations. It also provides the Derwent World Patents Index (DWPI) database, which contains patent applications and grants from patent issuing authorities. Clarivate agreed to combine with the business in 2020 in a $6.8 billion deal.
Reporting by Amy-Jo Crowley in London and Milana Vinn in New York; Editing by Anousha Sakoui and Susan Fenton
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CVC explores bid for US private lender Golub Capital, FT reports
European private equity firm CVC (CVC.AS) is exploring a deal for $75 billion private credit lender Golub Capital, the Financial Times reported. The private credit sector has grown rapidly in recent years, as stricter regulations have increased the cost for traditional lenders to finance riskier loans.
April 11 (Reuters) – (This April 11 story has been corrected to say that Golub was founded in 1994, not 1991 in paragraph 3, to remove an unrelated stock symbol in paragraph 1 and to drop paragraph 4 to remove the reference to shares)
European private equity firm CVC (CVC.AS) , opens new tab is exploring a deal for $75 billion private credit lender Golub Capital, the Financial Times reported on Friday, citing several people familiar with the situation.
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The private credit sector, which involves institutional lending to companies outside of traditional banking channels, has grown rapidly in recent years, as stricter regulations have increased the cost for traditional lenders to finance riskier loans.
Founded in 1994, Golub manages over $75 billion in assets and employs more than 1,000 professionals, according to its website.
It remains uncertain whether ongoing discussions will result in a deal, as Golub Capital is not considering a sale, the report added, citing a person close to the matter.
CVC and Golub did not immediately respond to Reuters’ requests for comment.
Reporting by Anshuman Tripathy in Bengaluru; Editing by Mohammed Safi Shamsi
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Australia’s Ramsay Health Care mulls potential sale of European arm
Ramsay Health Care appoints Goldman Sachs to look at strategic options for its stake in its European division. European division recorded a net loss of 43.1 million euros ($45.11 million) in its half-yearly results earlier this week. Ramsay’s stock closed nearly 7% higher on Thursday, having risen as much as 16.7% earlier in the day, marking its best intraday percentage gain since April, 2022. The Australian parent reported it swung to a first-half net loss with poor results at Ramsay Sante and Elysium weighing on its bottom line.
Companies Ramsay Health Care Ltd Follow
Feb 27 (Reuters) – Ramsay Health Care (RHC.AX) , opens new tab has appointed Goldman Sachs to look at strategic options for its stake in its European division following an internal review, the Australian private hospital operator said on Thursday, hinting at a potential sale.
The decision comes on the heels of management changes made earlier this year, including its group finance chief stepping down with a successor yet to be named and plans to boost the company’s core Australian hospital business.
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The decision to explore options for Ramsay Sante, the European division, was “in line with the refocus of its strategy”.
“There are multiple factors that may influence timing and outcomes of this process. All strategic options need to take into account Ramsay Sante’s shareholding structure,” Ramsay Health Care, the country’s largest independent hospital operator, said in a statement.
Sante, a private healthcare operator in Europe with its services spread across France, Italy, Norway, among others, has been underperforming for a while now. The division recorded a net loss of 43.1 million euros ($45.11 million) in its half-yearly results earlier this week.
Ramsay Health Care owns around 52.8% of Ramsay Sante while Predica, a unit of French international banking group Credit Agricole, holds 39.8% of ownership.
A potential divestment of Sante would bode well for Ramsay Health Care, said Luke Winchester, portfolio manager at Merewether Capital. “It has been a headache for management for some time, new executive team is in place and they have the opportunity to start fresh.”
The Australian parent reported it swung to a first-half net loss with poor results at Ramsay Sante and Elysium weighing on its bottom line.
A sale could also see Ramsay returning some capital to shareholders, added Winchester.
Ramsay’s stock closed nearly 7% higher on Thursday, having risen as much as 16.7% earlier in the day, marking its best intraday percentage gain since April, 2022.
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Reporting by Rajasik Mukherjee; Editing by Janane Venkatraman
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