Tuesday
June 20, 2023
Good evening,
Salmon-lover David Williams is about to get a taste of infant formula.
Street Talk can reveal the Melbourne deal maker has been drafted in by Bubs Australia’s board for strategic advice with a focus on China, where sales have slowed down.
The shares are down 75 per cent, and the CEO was recently fired. No doubt, it should be an interesting turnaround to watch. PS: Salmon-lover because Williams was on defence at Tassal last year when Canada’s Cooke Aquaculture bid $1.7 billion.
Over in debt capital markets, Macquarie’s AirTrunk was making a lot of bankers happy with a new $4.76 billion sustainability-linked loan.
Elsewhere, Rothschild had a new technology sell-side, Perpetual’s investors were in an ugly data outage, and Shaw and Partners’ winning broker trio was on its way out.
Happy reading,
Sarah Thompson, Kanika Sood and Emma RapaportStreet Talk Editors
There’s been plenty of instability at the infant formula producer with the departure of its chairman, Dennis Lin, and chief executive, Kristy Carr.
It has mandated a syndicate to stitch together a whopping $4.76 billion sustainability-linked loan.
The New Zealand private equity investor is testing appetite for the business amid attempts to resuscitate M&A in the technology sector.
Perpetual clients who spoke to Street Talk said they’d been unable to access the myPerpetual platform to withdraw funds for weeks.
Sources say Davis, known in the markets as ‘The Burglar’, his son Jarrod and about 10 others are preparing to start a competing business of their own.
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