Australia
PEP to stick with $730m offer for Spotless
Pacific Equity Partners (PEP) said its $730 million bid is a compelling offer for Spotless Group, in a move which appears to rebuff the cleaning services company’s demand for a higher price.
KKR in takeover bid for Australia’s PacBrands
KKR has launched an unsolicited takeover bid for listed Australian clothing and related consumer brands wholesaler Pacific Brands (PacBrands).
Catalyst could sell Aperio for $256m by February
Catalyst Investment Managers could complete the sale of its packaging business Aperio Group to a trade buyer by February, according to a source.
Sabre sells Australia’s Fudge hair care to PZ Cussons
Sabre has sold Australia’s Fudge hair care brand to PZ Cussons, the company behind Imperial Leather Soap, for GBP25.5 million ($39.5 million). The acquisition is intended to increase PZ Cussons’ exposure to the male grooming sector. Its product portfolio...
Carlyle shortlisted for Brambles Recall unit - report
The Carlyle Group has reportedly been shortlisted as a potential suitor for Recall, the document management business put on the block by Australia’s Brambles last spring.
Archer secures $1.5b for fifth fund
Projections for Archer Capital's fifth fund continued to increase even as the capital-raising environment in Australia got tougher. A target of A$1.2 billion ($1.2 billion) soon became A$1.4 billion and finally A$1.5 billion, which is where it closed...
India’s GVK to sell minority stake in Australian business
GVK Power & Infrastructure plans to sell a minority stake in its Australian unit in order to retire debts and fund operations. Private equity investors and strategic partners, working independently or in tandem, are seen as likely buyers.
PE firm approaches Australia's PaperlinX
An unnamed private equity house has made a takeover bid for listed Australian paper manufacturer PaperlinX.
Warburg Pincus-backed port seeks expansion into Australia
Gangavaram Port, the Warburg Pincus-backed owner of India's deepest seaport, is reportedly in talks to acquire several operational seaports in Australia and Africa.
Archer Capital closes fifth fund at $1.5b
Australia’s Archer Capital has closed its fifth fund at A$1.5 billion ($1.52 billion), having spent less than four months in the market. The vehicle, which counts domestic and international institutions among its investors, was significantly oversubscribed.
Arctic-backed Living & Leisure receives $244m takeover bid
Living & Leisure Australia Group (LLA), the tourist attractions operator part-owned by Arctic Capital, has received a A$244 million ($244 million) takeover bid from private equity-backed Merlin Entertainments.
CHAMP Ventures buys Australian specialist safety wear retailer
CHAMP Ventures has purchased a 79% stake in RSEA, Australia’s largest specialist safety retailer of hard hats, high-visibility wear and site signs. The remainder is held by company management, including 18% by Managing Director Brandon Chizik who will...
CVC, hedge funds exchange barbs over Nine debt
Negotiations over CVC-owned Nine Entertainment’s debt burden have descended into a war of words between the company and its hedge fund creditors. CVC stands accused of playing a “precarious game” by insisting it is under no pressure to restructure...
CVC’s second Asia fund sees value drop by 10%
CVC Asia Pacific’s second regional fund, which closed in 2005 at $1.975 billion, has reportedly lost 10% of its investment value due to failing portfolio companies such as Australian television network Nine Entertainment.
CHAMP secures $130m debt for oOh!media deal
CHAMP Private Equity has reportedly secured a senior debt package worth A$130 million ($130 million) to support its take-private of Australian out-of-home advertising firm oOh!media.
Southern Cross to run Australian state-backed VC fund
VC firm Southern Cross Venture Partners has secured the mandate to run the Australian government’s first renewable energy venture fund, the REVCF.
CHAMP PE approved for oOh!media buyout
CHAMP Private Equity has received unanimous approval by the board of directors of Australian out-of-home advertising firm oOh!media to purchase the company for A$163 million ($163 million), capping off the firm’s 2011 on a high and marking its first...
Australia's Goodman, Canada Pension recapitalize China JV
Australian property and logistics firm Goodman Group and Canada Pension Plan Investment Board have infused their joint venture, Goodman China Logistics Holding (GCLH), with an additional $250 million, doubling the JV’s capacity to a total of $500 million.
PEP in running for Petsfoods takeover
Pacific Equity Partners is reportedly the sole bidder left to take over Australian pet food maker VIP Petfoods after CHAMP Private Equity dropped out of the process.
CHAMP buys oOh!media for $163m
CHAMP Private Equity has acquired Australian outdoor advertising firm oOh!media for A$163 million ($163 million), receiving unanimous approval from the company’s directors after failing to receive a higher bid.
AMP Capital Investors divests 15% stake to Mitsubishi UFJ
AMP Capital Investors has divested a 15% stake in itself to Japan’s Mitsubishi UFJ for A$425 million ($433.5 million), coming as the Australian fund manager looks to break into Japan.
CVC said to offer Nine's creditors second refinancing plan
CVC Asia Pacific has reportedly offered creditors another refinancing plan for the A$2.6 billion ($2.7 billion) of debt held by its Australian portfolio company, Nine Entertainment, coming after lenders rejected CVC’s proposal of granting the firm a...
Nine's creditors reject debt restructure plan
The creditors of Australian media group Nine Entertainment have rejected a proposal to restructure the company’s A$2.6 billion ($2.59 billion) of senior debt, potentially jamming Nine’s private equity owner, CVC Asia Pacific, with nearly $2 billion...
Australian supers drive secondaries
The Australian superannuation funds’ ongoing move away from private equity has undoubtedly been a drawback for primary fund managers. But what of the impact on the Asian secondaries market?