Exit
KKR, CDH near end of dairy value-add story
After months of conjecture, and even a regulatory disclosure outlining its intent, China Mengniu Dairy has finally built up a commanding stake in its long-standing milk supplier China Modern Dairy. Mengniu already owned 1% of the company and has now added...
TPG makes $301m partial exit from India’s Shriram Transport
TPG Capital has sold a 10% stake in Shriram Transport Finance (STF) to Piramal Enterprises for INR16.5 billion ($301.4 million). Piramal acquired 22.8 million shares for INR723 per share ($13.19) in an open market transaction.
TPG, Northstar in partial exit from Indonesia’s BTPN
TPG Capital and Northstar Pacific Partners have agreed to exit part of their stake in Indonesian lender Bank Tabungan Pensiunan Nasional (BTPN) to Japan's Sumitomo Mitsui Banking Corporation (SMBC).
Japan's Takeda buys Singapore biopharma start-up
PE-backed Singapore biopharmaceutical start-up Inviragen is to be acquired by Japan's Takeda Pharmaceutical for $250 million.
Fairbridge raises $34m through Thomas Cook India offering
Fairbridge Capital, a subsidiary of Canada's Fairfax Financial Holdings, has reduced its stake in Thomas Cook India from 87.1% down to 75% via an institutional placement program (IPP), which closed on May 8.
Baidu buys VC-backed PPS’ online video platform
Baidu has agreed to pay $370 million for PPS’ online video business, creating an exit opportunity for the company’s venture capital backers. Ceyuan Ventures, Qiming Venture Partners and Vision Knight Capital have invested in PPStream in the last seven...
China webinar: Still a safe bet?
Exits have been preying on the minds of China-focused private equity investors as the IPO market so little signs of revival. It means GPs must think more broadly and more globally
CNEI exits Liyuan despite metals price slump
Dragged down by gold prices, commodities of all flavors have seen sharp declines in the past month. But this did not derail China New Enterprise Investment’s (CNEI) full exit from Shenzhen-listed Jilin LiyuanAluminum. The private equity firm secured...
Guinness Peat exits Australia’s Ridley Corp to PE buyer
Guinness Peat Group (GPG), an investment holding company with interests in Europe and Australia, has sold its 19.5% stake in Australian animal feed company Ridley Corp to a PE firm for A$54 million ($55 million).
TPG launches sale for China’s UniTrust
TPG Capital will begin the sales process for Shanghai-based finance and leasing company UniTrust this week. The deal is expected to be worth $800 million, with significant interest coming from other players in the leasing industry.
Quadrant-backed Summerset eyes Australia listing
Summerset, a New Zealand care home operator backed by Quadrant Private Equity, is seeking to list on the Australian Securities Exchange in response to increased interest from local investors.
Leopard exits Cambodia's Kulara Water
Leopard Capital has exited its entire investment in Cambodia's Kulara Water to the company's founding shareholder. Details of the transaction were not disclosed.
Carlyle-backed New Century refines Hong Kong plan - report
China’s New Century Hotel Group, a portfolio company of The Carlyle Group, plans to spin off its hotel business as a real estate investment trust (REIT) through a $300 million Hong Kong IPO. It earlier planned to list both the hotel and real estate...
Macquarie-owned Taiwan Broadband gathers investors for IPO
Eight cornerstone investors have been lined up to take nearly one third of pay-TV operator Taiwan Broadband Communications’ Singapore IPO. The offering will allow two Macquarie funds that own Taiwan Broadband to exit their holdings.
Something special
It wasn't long ago that Chinese GPs would turn their noses up at any suggestion of specialization. Buoyed by a flood of capital into private equity, the growth capital space morphed into a giant deal shop, with private equity firms pursuing several times...
CITIC, CDH exit early days China SOE buyout
Two facts worth noting about Chinese private equity: first, there is almost always a willing strategic buyer for a well positioned domestic business; second, the vast majority of PE investments are for minority stakes so if the entrepreneur has set his...
Creador brews 2x return on OldTown
Malaysia's OldTown White Coffee has unusual origins. The brand came into existence in 1999 as a range of pre-mix instant beverages, offering creamer, coffee and sugar in a single sachet. It was only in 2005 that the company decided to venture into the...
Chinese IPOs in the US: Green shoots
Online retailer LightInTheBox is seeking to become only the third Chinese company to list in the US in more than a year. But has investor sentiment emerged from its long winter?
CNEI secures 10.3x return on full exit from Liyuan Aluminum
China New Enterprise Investment (CNEI) has completed its exit from Jilin Liyuan Aluminum, one of the country’s leading aluminum extrusion product manufacturers, securing a 10.3x gross return.
Quadrant-backed Virtus Health launches IPO
Quadrant Private Equity-owned in-vitro fertilization (IVF) business Virtus Health launched its IPO road show on Monday. It is poised to be the largest equity offering since SCA Property in November last year and the biggest significant private equity-backed...
Abraaj exits Thailand’s Unitrio to Japan’s NTT
The Abraaj Group has exited Thailand-based data center provider Unitrio Technology to NTT Facilities (NTTF), a unit of Japan's Nippon Telegraph and Telephone Corporation (NTT).
Japan’s SMBC in talks with TPG to buy Indonesia bank stake – report
Sumitomo Mitsui Banking Corp (SMBC) is said to be in advanced talks to buy 40% of TPG Capital's stake in Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN). The sale would enable the private equity firm to comply with the 40% cap on foreign ownership...
Fortis, Next Invest exit Belgian ink maker to Japan’s Toyo
Fortis Private Equity and Next Invest have sold their 100% stake in Belgian ink manufacturer, Arets International, to Japan’s Toyo Ink Group for EUR10 million ($13 million).
CITIC, CDH generate 4x return through China auto parts exit
CITIC Capital Partners and CDH Investments Management have exited Chinese auto components manufacturer Nanjing Aotecar to a domestic buyer. According to sources familiar with the transaction, CITIC has secured an approximately 4x money multiple on an...