Deals
Apax Said to Prepare $8.8 Billion Bid for Oi Portugal Assets
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Apax Partners LLP is planning to offer about 7 billion euros ($8.8 billion) for Oi SA’s assets in Portugal in partnership with Bain Capital Partners LLC and at least one other fund, according to a person with direct knowledge of the matter.
The private-equity funds are looking at the company’s financial numbers in detail, aiming to match a proposal made by billionaire Patrick Drahi on Nov. 2, the person said, asking not to be identified because the discussions are private. The funds are betting the Portuguese government would be in favor of their offer, the person said. The firms are considering raising debt to help finance the transaction, the person said.