Macquarie Asset Management is preparing to divest DIG Airgas, South Korea’s third-largest industrial gas producer, in a transaction that could fetch up to $3.6bn, with a number of global PE firms, including KKR and Brookfield Asset Management, vying for the asset, according to a report by Reuters.

European mid-market private equity firm Inflexion has sold a majority shareholding of premium British skincare brand, Medik8, to L’Oréal Groupe. As part of the transaction, Inflexion will retain a minority shareholding in Medik8.

A syndicate of banks led by Barclays has launched a $1.5bn leveraged loan to finance Silver Lake’s acquisition of a majority stake in Intel’s programmable chip subsidiary, Altera, according to a report by Bloomberg citing a source familiar with the transaction.

Private equity firm Lone Star is nearing a long-anticipated exit from Novo Banco, its Portuguese banking asset, with French lender BPCE and Spain’s CaixaBank emerging as final bidders, according to a report by Bloomberg citing unnamed sources familiar with the matter.

Hong Kong-based real estate private equity firm Gaw Capital Partners is set to expand its investment footprint in the Middle East, targeting opportunities across real estate and industrial sectors in high-growth markets such as the UAE and Saudi Arabia, according to a report by Reuters.