Bain Bails on Coles

Bain Capital has become the latest buyout firm to abandon its pursuit of Australian retailer Coles Group Ltd., according to Bloomberg. Bain is the third firm to leave a consortium that now only includes Blackstone Group, Carlyle Group and TPG. KKR and CVC Asia Pacific pulled out over the weekend. Coles currently has an Au$19 billion buyout offer on the table from Westfarmers Ltd. and Pacific Equity Partners.