DealTalk: Coles private equity pullout highlights debt worries

(Reuters) - Wesfarmers Ltd. , which agreed to buy Coles for A$20.7 billion in cash and stock on Monday, was the lone bidder after the owner of hardware stores saw its private equity partners, Permira and Pacific Equity Partners , withdraw over the weekend on concerns about the rising cost of debt, according to a source familiar with the matter.




Rival private equity firm Texas Pacific also quit the Coles auction last week on debt market worries.


Read more at Reuters.com Bonds News