News: COG Consolidated Operations Posts HY Net Profit From Cont Ops After Tax Attributable $2.8 Mln, page-9

The COG might be starting to turn. Sydney-based Consolidated Operations Group has confirmed it has fielded approaches from possible suitors, as reported by Street Talk earlier this month.The group, which has a growing portfolio of investments in finance brokers and asset finance aggregators, and an arm that specialises in financing commercial equipment, said on Wednesday that "such enquiries are received from time to time".But unsurprisingly, it's keeping its cards very close to its chest. "To date they have been informal and preliminary in nature," Consolidated Operations Group said of the discussions in its investor presentation. "COG confirms it will advise the market should any of these preliminary discussions progress to a stage requiring disclosure."It comes hot on the heels of a flurry of private equity interest in the sector. New York-based Blackstone took an 80 per cent stake in Melbourne-based lender La Trobe Financial in late 2017, while fellow global asset management giant KKR's credit arm bought Sydney-based Pepper Group at about the same time. And pan-Asian private equity firm Affinity Equity Partners snapped up debtor finance provider Scottish Pacific late last year.Should interest in Consolidated Operations Group intensify, Macquarie Capital would be expected to get a call. Jessica ShapiroShould interest in Consolidated Operations Group intensify, Macquarie Capital would be expected to get a call. The investment bank knows the company well although it is not believed to have a formal defence mandate.