Financial Services
Cerberus’ Aozora sale stalled
Ceberus’ attempt to exit Aozora Bank faces a fresh obstacle in the shape of the Japanese government, which is on the cusp of becoming a major shareholder. The US private equity firm made its original investment in the Japanese lender more than 10 years...
Crest Capital acquires 51% of Australia’s Questus
Singapore-based Crest Capital Asia has agreed to recapitalize Western Australia’s Questus in exchange for a 51% stake in the investment company.
Carlyle to sell Ta Chong for $1.25b - report
The Carlyle Group looks set to sell its 40% stake in mid-sized Taiwanese lender Ta Chong Bank to Yuanta Financial in a deal which could value the bank at up to T$37 billion ($1.25 billion).
Longreach seeks to sell Taiwan bank stake for $1.2b
Japan-focused private equity firm Longreach Group is planning to sell its stake in Taiwanese lender EnTie Commercial Bank at TW$30 or more per share, which would value the deal at about $1.2 billion.
Nomura plans Ashikaga IPO
Nomura is planning to sell shares of regional bank Ashikaga in an initial public offering (IPO) on the Tokyo Stock Exchange as early as December. The bank may trade at a market value of JPY200 billion ($2.5 billion) to JPY300 billion.
Warburg Pincus joins race for India's Future Capital
US buyout firm Warburg Pincus is thought to have joined the race to acquire a stake in India's Future Capital Holdings (FCH), the financial services unit of the Future Group.
Mandarin Capital agrees JV with China’s Dagong - report
Sino-Italian private equity group Mandarin Capital Partners has reportedly agreed to establish a joint venture with Chinese ratings agency Dagong.
IFC to boost Equitas, Ujjivan MFIs with $28m
International Finance Corp (IFC) is planning to inject INR1.5 billion ($28 million) into two Indian microfinance institutions: Equitas Microfinance and Ujjivan Financial Services.
PE-backed Ratnakar Bank targets IPO in 2014
Ratnakar Bank, a Kolhapur-based lender that received $157 million in private equity funding last year, plans to launch an IPO within two years. It is part of a wider transformation of Ratnakar into a nationwide operator providing end-to-end services.
Carlyle falls short of IPO target
The Carlyle Group raised $671 million in its initial public offering, falling significantly short of its already conservative target of $762.5 million.
Korean government plans another attempt at Woori sale
The South Korean government will make another attempt to divest its stake in Woori Finance Holding, setting a July 27 deadline for preliminary bids. Prospective buyers must bid for at least 30% of Woori, which means the deal would be worth at least KRW2.9...
Edelweiss-backed CSB to float
Catholic Syrian Bank (CSB), the Indian institution backed by Edelweiss Capital, AIF Capital, Gartmore Private Equity and Siguler Guff, plans to launch an IPO by September.
Carlyle in mix for $1.8b Kyobo Life stake
The Carlyle Group appears to be one of several private equity firms vying for a $1.8 billion stake in South Korea’s Kyobo Life Insurance.
PE-backed Haitong Securities raises $1.7b in Hong Kong IPO
Shanghai-listed brokerage Haitong Securities, China's second-biggest brokerage by assets, has raised HK$13 billion ($1.7 billion) in Hong Kong’s biggest IPO since December of last year.
Olympus Capital invests $38m in Karur Vysya
Olympus Capital Holdings Asia has bought a 4.8% stake in India’s Karur Vysya Bank for $38.34 million as part of a PIPE transaction. It comes one month after ChrysCapital invested $31 million in the bank.
India’s NSE considers stock exchange listing
General Atlantic-backed National Stock Exchange of India (NSE) is considering a listing on the public markets, but first need to consider the impact of upcoming rules.
PAG backs Haitong's $1.8b Hong Kong offering
PAG has become a cornerstone investor in the Shanghai-listed brokerage Haitong Securities' Hong Kong IPO, buying $300 million worth of shares as part of a potential $1.8 billion offering.
PE-backed Coffee Day plans $78m India expansion
Coffee Day Group, a diversified Indian business backed by Standard Chartered Private Equity (SCPE), KKR and New Silk Route, plans to spend INR4 billion ($77.9 million) on expanding its operations this year. The firm has indicated it might then look at...
Goldman completes third partial exit from ICBC
Goldman Sachs has completed another partial exit from its holding in Industrial and Commercial Bank of China (ICBC), selling $2.5 billion worth of H-shares. Temasek Holdings said it picked up $2.3 billion of the block sale, which amounts to a 1.3% stake...
TA Associates backs Indian online payment provider
TA Associates has acquired a minority stake in BillDesk, India’s leading online payment services provider. The investment, terms of which were not disclosed, is seen as a means of leveraging both increasing internet penetration in the country and growing...
Second-largest India exit for Warburg Pincus
"When Warburg Pincus first invested in Kotak Mahindra Bank in 2004, what was being created was a banking institution from scratch,” says Vishal Mahadevia, managing director of Warburg Pincus India.
DBS to buy Temasek’s stake in Bank Danamon Indonesia
Singaporean lender DBS Group will buy Temasek Holdings’ majority stake in Bank Danamon Indonesia for about $4.9 billion. Already Southeast Asia’s biggest bank, DBS sees the acquisition as a means of accessing the region’s largest economy, which...
Warburg Pincus sells Kotak Mahindra stake for $272m
Warburg Pincus has fully exited India’s Kotak Mahindra Bank by selling the remaining 3.6% stake it held in the institution for INR14 billion ($272 million) on the public markets.
Korea Life makes final bid for Vogo’s stake in Tong Yang Life
Korea Life Insurance has submitted a final bid for Vogo Investment’s controlling stake in Tong Yang Life Insurance. Vogo is seeking to exit 60.7% of its 64% interest in the business in order to capitalize on the scarcity value of a controlling stake...