Articles by Tim Burroughs
Abax, chairman lower MBO offer for Fushi Copperweld
Abax Global Capital and the chairman of Fushi Copperweld have lowered their buyout offer for the Chinese company. They are proposing to pay $9.25 per share, down from $11.50 announced in November of last year, which values the deal at about $353.4 million.
VC firms file claim against VisionChina for at least $60m
Oak Investment Partners and Gobi Partners have filed a motion with a US court seeking at least $60 million from VisionChina over its failure to make payments relating to the acquisition of Digital Media Group (DMG) last year.
Temasek confirms increase in CCB holding
Temasek Holdings announced Monday that it has increased its holding in China Construction Bank (CCB) to 9.42% from 8.10%. The transaction, disclosed in a filing with the Hong Kong Stock Exchange, took place on November 11, around the time that Bank of...
Archer, Ironbridge exit iNova Pharmaceuticals for $690m
Archer Capital and Ironbridge Capital have exited iNova Pharmaceuticals to Canada’s Valeant Pharmaceuticals in a deal worth up to A$700 million ($690 million). Valeant will pay A$625 million up front plus a further A$75 million based on the success...
Place your vote in the 2011 AVCJ Indian Awards
We are happy to announce the nominee shortlist for 2011 AVCJ Indian Private Equity and Venture Capital Awards. Relying on submissions from across the PE community and the expertise of our select panel of industry judges, five nominees have been chosen...
Apax-backed iGate plans to take Patni private
Apax Partners-owned iGate plans to buyout Patni Computer Systems’ minority shareholders and delist the company from the Bombay Stock Exchange, National Stock Exchange of India and the New York Stock Exchange. The purchase will be funded through a debt...
Bain sells JV interest in two Chinese chemicals companies
Bain Capital has exited its stake in Chinese companies Hipro Polymers and Casda Biomaterials to Arkema, France’s leading chemicals producer. The acquisition, which puts an enterprise value of $365 million on both companies, is subject to Chinese regulatory...
Asian IPO best Formula One exit for CVC - Ecclestone
CVC Capital Partners-owned Formula One Group, which owns the motor sport’s commercial rights, would list in Hong Kong or Singapore if a decision was made to take it public, according to CEO Bernie Ecclestone.
Sino-Forest runs low on cash, bonds suggest default
Sino-Forest, the private equity-backed forestry firm that last week issued a report denying short-seller claims that it is engaged in a massive fraud, is still in danger as its bonds trade at prices that imply an extremely high risk of default. The negative...
Q&A: Bain's Jonathan Zhu on Skylark and beyond
Jonathan Zhu, managing director of Bain Capital Asia, discusses the Skylark buyout, access to leverage, corporate governance in China and India, and the forthcoming Asia II fund
Intel invests $40m in Asian tech companies
Intel Capital has committed $40 million to 10 Asian companies from China, India, Japan, South Korea and Taiwan. The technologies covered include semiconductors, green tech, software, security, social gaming and cloud-based services. Details of the size...
Quotes from the AVCJ Investment Summit
A selection of notable remarks from the second day of the AVCJ Investment Summit on Thursday.
RMB fund vs. USD fund issue losing importance - AVCJ Forum
The internationalization of the renminbi is rendering the US dollar fund versus renminbi fund debate increasingly irrelevant, according to panelists at the AVCJ Investment Summit on Thursday.
Quotes from the AVCJ Investment Summit
A selection of notable remarks from the first day of the AVCJ Investment Summit on Wednesday.
Coulter, Rubenstein look at PE of the future – AVCJ Forum
Diversification and standardization were the watchwords as James Coulter, founding partner of TPG Capital, and David Rubenstein, co-founder and managing partner of The Carlyle Group, addressed the future of the global private equity industry at the AVCJ...
Samsung’s MRO sale flatters to deceive
Online shopping mall Interpark’s purchase of iMarketKorea from Samsung Group last week might be described as the deal that failed to live up to first impressions.
Archer Capital, Bilden scoop top honors at 2011 AVCJ Awards
The 11th AVCJ Asia Awards recognizes leading achievements in the region’s private equity industry.
Origo sets up Mongolia JV with Trafigura
Origo Partners will form a 50-50 joint venture with leading global commodity trader Trafigura to develop iron ore and coking coal projects in Mongolia. The companies want to export several million tonnes a year of coking coal and iron ore to China by...
Ex-banker targets $1b fundraise for Indonesia vehicle
A former investment banker with Bank of America in Asia is looking to raise a $1 billion private equity fund targeting Indonesia. It will launch in the first quarter of next year, with a view to making a first close within three months.
Investors eye openings in Asia special situations
Distressed opportunities are being flagged up as a key investment area in Asia as several economies in the region face slowing growth and tightening monetary conditions.
Pension funds still committed to pan-Asian, global funds
Institutional limited partners are becoming more nuanced in their appreciation of private equity opportunities in the region but this doesn’t necessarily signal a wholesale shift away from pan-Asian or global funds.
GPs highlight merits of differentiation – AVCJ Forum
General partners stressed the need for differentiation in devising strategies to capitalize on private equity growth in Asia Pacific.
Archer Capital, Bilden scoop top honors at 2011 AVCJ Awards
Archer Capital claimed two of the top prizes at the 2011 Asian Private Equity & Venture Capital Awards on Monday night, as the Australian PE firm was named Firm of the Year and Managing Director Peter Wiggs won Private Equity Professional of the Year.
PE firms close in on Yahoo acquisition
Several prospective buyers of Yahoo have signed confidentiality agreements in order to get a closer look at the company’s finances.