TPG Capital and Potentia Capital have submitted a buyout offer for employee management services provider Smartgroup that values the Australia-listed business at a market capitalization of A$1.38 billon ($993 million).
Supported by Aware Super, which will participate as a co-investor, they are looking to acquire all outstanding shares for A$10.35 apiece, a 32% premium to the September 28 close. Smartgroup’s stock opened...
HESTA has acquired a A$120 million ($85 million) equity stake in Australian enterprise software and IT services provider Citadel, following its merger with medical practice software specialist Genie Solutions.
CVC Capital Partners has agreed to sell Malaysia-based snack foods producer Munchy Food Industries to Universal Robina Corporation (URC) – a branded consumer food and beverage business in the Philippines – for MYR1.93 billion ($454 million).
There is not enough capital in Asia to address the number of secondary opportunities – mirroring the situation globally – with investors claiming to have more transaction choices than ever before.
Moore Threads, a Chinese chip designer established 13 months ago by a team from Nvidia, has closed Series A at RMB2 billion ($313 million) led by Shanghai Guosheng Capital, 5Y Capital, and a BOC International fund.