Private equity

British satellite company Inmarsat gets private equity buyout

In this illustration, a satellite points white beams into the sky.
Illustration: Sarah Grillo/Axios

Inmarsat, a British satellite company, said it received a non-binding $3.3 billion takeover offer from a private equity consortium that includes Apax Partners, Warburg Pincus and the Canada Pension Plan Investment Board.

Why it matters: This is yet another big-money example of buyout firms returning to a familiar well, as Apax had helped buy Inmarsat in 2003 before later taking it public. It also comes about a year after Inmarsat turned down a $3.2 billion takeover bid from Echostar.

Blackstone Group makes first buy-out ever in Japan

Japanese flag on a pole.
Photo: Artur Widak/NurPhoto via Getty Images

The Blackstone Group agreed to buy Ayumi Pharmaceutical, a Japanese maker of anti-rheumatism drugs, from Unison Capital for a reported $1 billion.

Why it's the BFD: Because it's Blackstone's first-ever buyout in Japan, and comes as many other U.S. and European private equity firms are seeking deals in a country they had spent over a decade ignoring. "We are seeing much more deal flow in Japan," said Kewsong Lee, co-CEO of The Carlyle Group, speaking last month at the SuperReturn event in Berlin. "It is the third largest economy in the world, but private-equity penetration there is much lower."

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