Africa’s biggest startup exits

Good Morning,

FNZ founder steps back, Navy ships sent to rescue two sailors stranded 185km off NSW coast, Star Entertainment Group suspended from trading by ASX, Scholz urges German parties to exclude far right as AfD poised for state election victory, Blackstone-led consortium nears $13.5 bln deal to acquire AirTrunk, CBA mandates Gresham to sell ultra-high-net-worth advice business, Australian retailer Woolworths exits Endeavour Group three years after spin-off, Yen Forecasters Chart Path Past 140 as Global Rate Tracks Emerge

Let's jump in.

Before The Bell

Markets

• NZ shares spring into September on hopes of economic revival (GR)

• ASX inches closer to record; CBA resets record high (AFR)

• Yen Forecasters Chart Path Past 140 as Global Rate Tracks Emerge (BBG)

• Historic Drought Cuts Zambia’s Power Supply to Three Hours a Day (BBG)

News Summary

• The top five biggest fines companies have received for breaching the Fair Trading Act (Stuff)

• Immigration, work breaches uncovered in Queenstown (Stuff)

• FNZ founder steps back (GR)

• Five million people to receive more cash from indexation and rent assistance boost (9 News)

• Navy ships sent to rescue two sailors stranded 185km off NSW coast (9 News)

• 'Reprehensible': Head of $180m Ponzi scheme jailed for at least seven years (9 News)

• Minors banned from buying knives as Queensland cracks down on knife crime (9 News)

• Star Entertainment Group suspended from trading by ASX (9 News)

• Nationwide general strike in Israel amid public anger over hostage deaths (Guardian)

• Flights in Sydney, Melbourne and Brisbane cancelled amid high winds; emergency fire warning near Tomago in Hunter region (Guardian)

• Scholz urges German parties to exclude far right as AfD poised for state election victory (Guardian)

Deal Flow

Investments / M&A

• Blackstone-led consortium nears $13.5 bln deal to acquire AirTrunk (RT)

• Germany extends trusteeship over Rosneft assets (RT)

• Qatar Airways approaches the landing strip on Virgin Australia stake (AFR)

• News Corp’s REA Group weighs big M&A bet (AFR)

• CBA mandates Gresham to sell ultra-high-net-worth advice business (AFR)

• Australian retailer Woolworths exits Endeavour Group three years after spin-off (RT)

VC & Fundraising

• From InstaDeep to Paystack: Here are Africa’s biggest startup exits and how much they raised (TC)

Equity Raises

• Andrew Lockhart’s Metrics seeks $300m for new multi-strategy LIT (AFR)

Debt

• Validus, a Singapore-based digital SME lending platform, secures $50M debt financing to help enterprises in Indonesia (TC)

Daily Picks

• Dairy-free lentil cream looks and tastes the part (Stuff)

• Why we need to talk about concussion more (9 News)

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