KEY POINTS:
Latest speculation on a mystery possible bidder for Sky City is focusing on one of the world's largest private equity funds, TPG Newbridge, The Dominion Post reported today.
It quoted New York-based TPG spokesman Owen Blicksilver saying yesterday that the firm would not comment on whether it was considering a bid for Sky City, which he termed "market speculation".
On Friday Sky City said a party was showing interest in buying all its shares at a "significant premium" to the company's recent share price.
That sent the company's shares up as much as $1.23 during the day to a record high $5.56. Yesterday they closed at $5.07.
TPG Newbridge consists of Texas Pacific Group and its Asia-Pacific affiliate Newbridge Capital. TPG is already building a presence in the international casino sector.
With partner Apollo Management, it is set to complete a US$27.8 billion ($37.7 billion), all-cash buyout of Harrah's Entertainment by the end of the year.
- NZPA
