Baring Private Equity Asia (BPEA) is said to be looking to merge two of its portfolio companies – Tricor and Vistra – to create a new company at a valuation between $7 billion and $8 billion, according to a report by Bloomberg.
Tricor provides business expansion services including accounting and financial reporting as well as tax services, corporate services, investor services, corporate trust and debt services and HR and payroll services.
Vistra specializes in corporate growth support including risk management and compliance, covering private equity, real estate, capital markets and private wealth.
BPEA has notified Tricor and Vistra’s creditors about the merger plan, the report said quoting sources.
The Hong Kong-based private equity firm bought into Tricor from buyout group Permira in November last year at a valuation of $2.76 billion including debt.
