India-listed EPL has agreed to merge with Indovida, a packaging and plastics business backed by Indorama Ventures, in a transaction valuing the combined group at approximately $2bn, according to a report by Reuters.

Nestlé has moved forward in its planned divestment of a stake in its European water division, with several private equity firms, including Dubilier & Rice, KKR and PAI Partners advancing to the next round of the process, according to a report by the Financial Times.

Recordati has confirmed receipt of a non-binding takeover proposal from CVC Capital Partners, which would see the Milan-listed group taken private in a deal valuing it at €10.9bn, according to a report by Reuters.

Blackstone has invested $250m in Advanced Digital Gaming Technology, a UAE-based payments and data intelligence platform, marking the first private equity-backed inbound deal in the Gulf since the onset of the Iran conflict, according to a report by Reuters citing market data.

European banks are increasingly making their mark in Japan’s growing buyout financing sector, with France’s BNP Paribas emerging as a leading player in a market traditionally dominated by domestic megabanks, according to a report by the Financial Times.

TDR Capital and I Squared Capital have appointed banks to work on a potential $15bn US initial public offering of Aggreko, according to a report by Bloomberg citing people familiar with the matter.

Private equity firm One Equity Partners has completed the acquisition of Kitwave Group plc, a UK-based wholesale distributor of food, beverages, and other consumables serving both foodservice and retail customers.

An affiliate of middle market private equity firm Etna Capital (Etna) has completed the acquisition of CodeRoad, Inc, a provider of digital engineering, software development and AI solutions to enterprise customers in North America.

EOS Investment Management Group and Capital Dynamics have completed the sale of a portfolio of utility-scale solar power plants in Italy, held through the joint venture EOS IM Capital Dynamics Green Energy S.à r.l.