Consumer
TPG abandons Billabong buyout
TPG Capital has withdrawn its A$694 million ($709 million) buyout offer for Billabong, sending the Australian surfwear company’s stock plunging more than 16%. The announcement comes days after Billabong insisted that negotiations were continuing despite...
Hong Kong’s Chevalier targets Catalyst-backed Moraitis – report
Hong Kong-listed Chevalier International is said to be in exclusive talks regarding an investment in Australia’s Moraitis, a fruit and vegetable wholesaler backed by Catalyst Investment Managers.
Kaizen invests $4m in India’s Ace Creative Learning
Kaizen Private Equity, an Indian private equity firm that focuses on the education sector, has led a $4.6 million round in Bangalore-based Ace Creative Learning.
Everstone, India Value Fund join race to buy Avigo’s Spykar - report
Everstone Capital and India Value Fund are reportedly planning to compete with several global private equity firms for Avigo Capital Partners’ 60% stake in Indian apparel chain Spykar Lifestyle.
Baring-backed Courts Asia targets $112m IPO
Baring Private Equity Asia (BPEA) portfolio company Courts Asia has launched its Singapore IPO with a view to raising S$137 million ($112 million). The electronics and furniture retailer is offering 178 million shares, of which 60 million are new shares,...
CVC considers Matahari share sale – report
CVC Capital Partners has reportedly asked bankers to advise on selling shares in Matahari Department Store, the Indonesian retailer it acquired two years ago for INR7.2 trillion ($616.3 million). It remains the largest ever private equity investment in...
Billabong says TPG talks continue despite diligence concerns
Billabong said that buyout negotiations with TPG Capital continue after its stock plunged 20% on reports that the private equity firm was poised to walk away from the A$694 million ($709 million) deal. Trading was halted as the share price fell from A$1.30...
Morgan Stanley supports Feihe International MBO bid
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...
Baring PE Asia in new attempt at Courts IPO
Baring Private Equity Asia has resumed efforts to list electronics and furniture retailer Courts Asia in Singapore. The PE firm, which controls Courts through Asia Retail Group, attempted an IPO in 2010 but withdrew the offer due to valuation concerns.
Everstone to buy 35% of Indian publishing company - report
Everstone Capital is reportedly in talks to buy a 35% stake in S Chand Group, India’s leading publisher of textbooks and digital learning products. The deal is expected to be worth $30 million.
Anchorage buys Dick Smith Electronics from Woolworths
Anchorage Capital Partners will buy Australian supermarket chain Woolworths’ Dick Smith Electronics unit for an initial A$20 million ($18 million) plus a share of any upside resulting from the private equity firm exiting the asset. The divestment comes...
Shenzhen Capital, New Margin fund Chinese sex toy retailer – report
Shenzhen Capital and New Margin Ventures have reportedly provided RMB300 million ($47.4 million) in Series A funding to Adam & Eve, a Chinese sex toys retailer. The company claims to be the first in its segment to receive approval from the State Food...
NVP, Sequoia lead Series A round for India’s Capillary Technologies
Norwest Venture Partners (NVP) and Sequoia Capital have led a $15.5 million Series A round of funding for Capillary Technologies, an India-based cloud computing services provider. Existing investor Qualcomm Ventures also participated.
Actis backs Chinese casual dining chain
Emerging markets private equity firm Actis has announced an investment in Chinese casual dining chain Bellagio.
IDFC PE seals India’s largest dairy investment
India's dairy sector is rich in opportunity. Currently worth $70 billion, it is growing at 10% a year and is expected to reach $150 billion by 2020. The country is now the world’s largest producer of dairy goods and accounts for close to 20% of global...
TPG’s Billabong rival abandons bid
TPG Capital’s rival bidder for Australian surfwear company Billabong International has dropped out of the running. Billabong only identified the group that offered to match TPG’s A$694 million ($709 million) buyout bid as a private equity firm. According...
Indian Angel Network backs Mexican restaurant
Indian Angel Network (IAN), Asia’s largest business angel investor network, has invested in Poncho, a Mumbai-based Mexican quick service restaurant.
IDFC PE invests $28.7m in Indian dairy firm
IDFC Private Equity has invested INR1.55 billion ($28.7 million) in Parag Milk Foods in what could be one of the largest PE transactions in the Indian dairy sector. The proceeds will facilitate a partial exit to Motilal Oswal Private Equity, which invested...
NBC Capital reaps 20% IRR from Fenix Fitness
When it comes to assisting the growth of their portfolio companies, some PE firms are more hands-on than others. At the more pro-active end of the scale sit the likes of NBC Capital, which during its four-and-a-half-year ownership of local health club...
NBC Capital sells Fenix Fitness Clubs for $64m
NBC Capital has sold its Australian health club chain Fenix Fitness Clubs to Ardent Leisure Group for A$60.9 million ($64 million).
Advantage Partners poised for Rex Holdings exit
Advantage Partners is preparing to exit a 66% holding in Japanese restaurant operator Rex Holdings to Colowide. Local media said the transaction, worth JPY13.7 billion ($175 million), would close as early as October.
Rival PE firm matches TPG’s $709m Billabong offer
A rival private equity firm – reportedly Bain Capital – has offered to match TPG Capital’s A$694 million ($709 million) buyout bid for Australian surfwear company Billabong International. The Billabong board maintains that neither offer reflects...
CVC’s Nine sells magazine unit to service debts
CVC Capital Partners-owned Nine Entertainment has sold its ACP Magazines division to German publisher Bauer for A$500 million ($510 million). The proceeds will go towards paying down some of the Australian media company’s debt, with a senior tranche...
China Baoxin Auto to buy PE-backed NCGA for $305m
Hong Kong-listed China Baoxin Auto has agreed to pay $305 million for NCGA Holdings, a Beijing-based high-end car dealership owned by the Citigroup, Apollo Global Management and Pangaea One.