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Vocus confirms new takeover bid from Macquarie Infrastructure and Real Assets Holdings

Telecommunications vendor Vocus has revealed its has received an acquisition proposal from investment firm Macquarie Infrastructure and Real Assets Holdings (MIRA). MIRA is part of Macquarie Group’s asset management arm Macquarie Asset Management (MAM), managing US$132 billion in assets including telcos, farmlands, infrastructure and real estate companies across Australia. Responding to “recent press speculation”, Vocus said in its ASX announcement that the proposal was non-binding and indicative, with MIRA offering $5.50 per share for 100 percent of Vocus. The offer is subject to a number of conditions including due diligence, securing debt financing, unanimous recommendation by Vocus’ board, and a mutually acceptable scheme implementation agreement.

Kyobo gains edge in battle with Deloitte

Kyobo gains edge in battle with Deloitte Posted : 2021-01-20 16:56 Updated : 2021-01-20 17:31 Kyobo Life Insurance Chairman Shin Chang-jae, left, and Deloitte Anjin CEO Hong Jong-sung / Courtesy of each firm By Lee Min-hyung Kyobo Life Insurance has gained an edge in a months-long legal dispute with Deloitte Anjin, after prosecutors indicted three Deloitte accountants for allegedly colluding with the insurer s financial investors to distort Kyobo s estimated stock price before its initial public offering (IPO). Kyobo expected prosecutors to have discovered evidence of the alleged collusion between the accountants and executives of the consortium. The legal battle started in April 2020 when Kyobo accused the accounting firm of unfairly and insincerely valuating the insurer at the request of a consortium led by Affinity Equity Partners. The consortium is Kyobo s second-largest shareholder, which acquired a 24.01 percent stake in the insurer in 201

PE moves: new hires at KKR and Affinity

PE moves: new hires at KKR and Affinity Save Share Sydney private equity outfit Archer Capital is starting the new year with two less operatives in its midst. There was some private equity musical chairs over summer.  Street Talk understands Archer principal Ryan Boers has headed to KKR after almost seven years with the Aussie buyout fund, while fellow principal David Brennecke has taken a vice president role at Affinity Equity Partners. Boers joined Archer in early 2014 and was closely involved in the firm s investments in data and analytics company illion and New Zealand-based pharmaceutical ingredients company NZP. Archer bought into NZP in 2015 and sold it to Italy s ICE Group last year. Meanwhile, illion is the rebadged local business of Dun & Bradstreet, which Archer bought for $200 million in June 2015 and tried to sell this time last year before the pandemic hit.

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