Buyout firm Texas Pacific Group has completed its second deal in as many days after finalising a $1bn (€780m) deal for Australian retailer Coles Myer's department store unit. Yesterday it also bought a 90% stake in Mey Içki, the alcoholic beverage arm of the Turkish state alcohol and tobacco company Tekel, for about $810m.

The deal for Coles Myer's 61 stores, along with its Melbourne property, is one of the largest leveraged buyouts in Australia's history. Texas Pacific, which first said it would buy the chain in March, will take control with immediate effect.