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Australian Tax Fight with TPG Worries Foreign Investors

Posted on: November 25, 2009 by PEHub AdministratorNo Comments »

MELBOURNE (Reuters) – Australia’s tax office has hit U.S. private equity group TPG Capital with a $628 million bill for tax and penalties, in a dispute that threatens to deter further foreign investment in the country. TPG last month sold its stake in top Australian department store chain Myer (MYR.AX) in an initial public offering, [...]

TPG Exits Department Store Myer in $2 Billion IPO

Posted on: October 29, 2009 by PEHub AdministratorNo Comments »

SYDNEY (Reuters) – Myer, Australia’s largest department store chain, raised A$2.2 billion ($2 billion) in the nation’s biggest IPO in two years, selling shares at the lower end of an indicative range, as institutional investors baulked at the rich valuation. Myer said in a statement on Thursday its private equity owners TPG Capital and Blum [...]

TPG-Backed Myer Plans $2.6 Billion IPO

Posted on: September 11, 2009 by PEHub AdministratorNo Comments »

MELBOURNE(Reuters) – U.S. private equity firm TPG Capital plans to list Myer, Australia’s largest department store chain, on the local stock exchange this year in a deal that could be worth up to $2.6 billion and test the market’s faith in recovery. Retail analysts cautioned that much depended on the outlook for the retail sector [...]

TPG Hires Bankers for Myer IPO

Posted on: August 24, 2009 by PEHub AdministratorNo Comments »

SYDNEY (Reuters) – Private equity firm TPG Capital has hired three banks to lead manage an IPO of Australia’s top department store Myer Group, sources with direct knowledge told Reuters on Tuesday, valuing Myer at about $2.1 billion. The IPO, the biggest initial public offer on the Australian stock exchange since the credit crisis took [...]