Articles by Tim Burroughs
Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters...
Rabo Private Equity tipped to exit Indian edible oils producer
Rabo Private Equity is set to exit its stake in Indian edible oils producer Geepee Agri Private as Archer Daniels Midland (ADM) closes in on an acquisition of the company. Sources familiar with the situation told The Times of India that the US food processing...
Nirvana Venture Advisors backs YourNextLeap.com
Nirvana Venture Advisors has contributed an undisclosed amount to the Series A round of financing for YourNextLeap.com, an Indian internet start-up that acts as a career counselor for students. The company, which was only founded 10 months ago, will use...
Temasek affiliate part-exits Shin Corp holding
An affiliate of Temasek Holdings has sold 7.9% of its stake in Thai telecom company Shin Corp. Cedar Holdings, which is 49% owned by the Singaporean sovereign wealth fund, raised THB9.126 billion ($305 million) through the sale of 253.3 million shares...
Market volatility hits US-listed buyout firms
Publicly traded buyout firms have seen their share prices fall 19-27% so far in August, compared to a 9.5% drop in the Dow Jones Industrial Average. As the market troubles escalated yesterday, with the Dow retreating 3.7%, Blackstone Group, KKR, Apollo...
GSR hires former Baidu CTO as partner in Beijing
GSR Ventures has appointed Yinan Li, a serial entrepreneur who has previously served as chief technology officer at Baidu, as a venture partner. Li, 41, will be based in Beijing and focus on investments in the China wireless and internet technology spaces.
CHAMP seeks first stand-alone deal in Southeast Asia
CHAMP Private Equity is targeting acquisition opportunities in Southeast Asia for its A$1.5 billion ($1.55 billion) third fund. Managing Director Cameron Buchanan told Reuters that the firm would use its Singapore office to help Australian and New Zealand...
SABMiller launches hostile takeover bid for Foster’s
SABMiller has launched a hostile takeover bid for Foster’s, worth A$9.5 billion ($10 billion), after the Australian brewer refused to negotiate on its initial proposal two months ago. SABMiller said Wednesday that it would put its A$4.90 per share cash...
Bright Food reaches agreement on Manassen purchase
China’s Bright Food Group has agreed to buy a 75% stake in Manassen Foods, which is majority-owned by CHAMP Private Equity. The size of the deal was not specified, but sources told Reuters that it values the Australian company at more than A$500 million...
Asahi to buy Independent Liquor from PEP, Unitas for $1.25b
Asahi Group will buy New Zealand beverage group Independent Liquor from Pacific Equity Partners (PEP) and Unitas for NZ$1.5 billion ($1.25 billion). The Japanese firm’s Australian subsidiary plans to buy all outstanding shares in Flavoured Beverages...
PE-backed Just Dial targets $79m IPO
Indian search engine Just Dial is planning a INR3.6 billion ($79 million) IPO that will allow its private equity backers to make full or partial exits. A draft prospectus filed with the Securities and Exchange Board of India indicates that offering will...
PE and the debt crisis: Coping with chaos
Recent turmoil in the global markets has implications for private equity investors with an eye on exits, debt and fundraising
Indian media group assumes control of BBC’s local magazine business
Bennet, Coleman & Co. (BCCL), owner of the Times of India, has bought out joint venture partner BBC Worldwide to take full control of Worldwide Media, an Indian magazine publisher. The sale is part of a wider effort by the commercial arm of the UK public...
Morgan Stanley invests in Chinese plastics firm
Morgan Stanley Private Equity Asia (MSPEA) has agreed to make a $100 million equity investment in China XD Plastics for a significant minority stake.
Cargill beats off Chinese competition to land Provimi
Cargill, the world’s largest agricultural commodities trader, will acquire Netherlands-based animal feed company Provimi from private equity firm Permira for an enterprise value of EUR1.5 billion ($2.1 billion). China’s New Hope Group was among the...
GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons...
Indonesia bans banking sector takeovers
Indonesia’s central bank has temporarily barred takeovers in the banking sector – where there is considerable interest from foreign private equity investors – as it considers a review of ownership rules. The central bank is still drafting the policy...
CPP Investment Board announces 0.9% gain in fiscal first quarter
Canadian pension fund CPP Investment Board announced a 0.9% quarter-on-quarter gain for the three months ended June 30, primarily thanks to a strong performance from private market investments, Dow Jones reported.
Bank of America struggles to find buyers for CCB stake
Bank of America is struggling to find buyers for its 10% stake in China Construction Bank as investors are wary of forthcoming rights issues, share sales and new listings by Chinese lenders.
Saigon Asset Management to launch $300m Indochina energy fund
Saigon Asset Management plans to raise $300 million for an energy fund targeting thermal and hydro power projects in Vietnam, Cambodia and Laos. The company believes the energy sectors in these countries are open to foreign investment and plans to participate...
AXA Private Equity raises $3b for secondary fund
AXA Private Equity has raised $3 billion for its latest secondary fund. It is targeting a final close of $3.5 billion for AXA Secondary Fund V, having set the hard cap at $4 billion, the Wall Street Journal reported, citing a person familiar with the...
CHAMP-backed Blue Star bail-out approved by bondholders
Bondholders in troubled New Zealand printing firm Blue Star have backed a $25 million restructuring package supported by CHAMP Private Equity. At a meeting of around 200 bondholders in Auckland, 76.9% voted in favor of the proposal, surpassing the 75%...
SAIF, MakeMyTrip back Indian travel search engine
Indian travel search engine iXiGO.com has received $18.5 million in funding from SAIF Partners and online travel company MakeMyTrip. The two investors purchased stock in iXiGO’s parent, Le Travenues Technology, and also received new shares.
Matrix commits $9.9m to Kids Clinic India's Series A round
Matrix Partners India has committed INR450 million ($9.9 million) as the sole institutional investor in Kids Clinic India Private Limited, a Bangalore-based provider of maternity and infant care services. The immediate goal is to enlarge the company’s...