Carlyle gets offers for Willcom
The Carlyle Group’s 60%-owned investee Willcom Inc, a PHS (Personal Handy Phone) carrier in Japan, has received proposals from a number of potential buyers, including Softbank, Japan’s third largest mobile carrier, as well as other investment funds.
As a condition for the bid, Softbank is reportedly asking Willcom's creditors to forgive part of its ￥93.5 billion ($1.1 billion) debt. In March this year, the US buyout fund injected a further ￥5 billion ($ 57.2 million) into Willcom to avoid its collapse. Carlyle bought its 60% stake in Willcom for $1.26 billion in 2005, alongside Japanese strategic Kyocera and Softbank rival KDDI, delivering one of the largest ever LBOs in Japan. Carlyle made no comment, but sources noted that the firm will decide its preferred suitor by end 2009.
More on Exits
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.