Adevinta last week said that it received a non-binding takeover proposal from a private equity consortium that includes Blackstone Inc. and Permira, confirming an earlier Bloomberg report revealing plans for what would be one of the year’s biggest buyouts.
More recently, however, bank risk appetite is returning as institutional investors look to put money to work once again. The increase in demand has come amid optimism over a potential soft-landing for the US economy, and a pause in the rate-hike campaigns of the Federal Reserve and the Bank of England.
The prospective financing for Adevinta is the latest example of buyout firms running a so-called dual-tracking process, where they seek competing bids from banks and direct lenders.
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