Perenti is believed to have taken its Best Tractor Parts division off the market after it was earlier said to be negotiating with a party for a sale.
While the identity of the suitor remains unclear, it is thought that the talks may have been unfolding with Seven Group Holdings.
Bank of America was working on the sale for the business that sells earthmoving parts and was estimated to be worth between $100m and $200m.
However, it is understood that Perenti and the party involved in the negotiations could not agree on terms.
It was earlier thought that Perenti was not desperate to sell the operation, but its strategic focus is surface and underground mining and BTP is non-core.
In recent months, Perenti had UBS on standby for an equity raising to buy Downer’s mining services division. But the Perenti share price fell on the back of COVID-19 disruptions and, at about the same time, Downer placed a sale of the unit on hold.
China energy bid switched off
Aspirations by China’s State Grid to buy Jemena are understood to have put an end to a possible sale of the energy business.
Healthscope firmly in the sights of Bain
Bain Capital is closing in on its next big target struggling with too much debt – the country’s second-largest hospital operator Healthscope.