UPDATE 1-Australia's Coles drops talks to buy Greencross Pet Wellness from TPG Capital

TPG Inc Class A

TPG Inc Class A

TPG

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July 17 (Reuters) - Australia's Coles COL.AX said on Friday it has ceased discussions with U.S. private equity firm TPG Capital for the potential acquisition of Greencross Pet Wellness.

Australia's No. 2 grocer is walking away from the deal weeks after confirming talks were underway for the purchase of the pets and vets business.

Local media reports had said TPG was likely aiming for an A$4 billion ($2.80 billion) deal, which was the valuation it had planned to seek for the business in a potential float.

TPG Capital did not immediately respond to a Reuters request for comment.

($1 = 1.4294 Australian dollars)


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