Cultivating Asia carve-outs
Private equity investors agreed or completed nearly 200 buyouts in Asia last year, according to AVCJ Research. Roughly one quarter of these were carve-outs from corporate owners. South Korea, where domestic conglomerates are under pressure to divest non-core assets, was the largest source of deal flow.
The two largest carve-outs were also Korean: Hahn & Company teamed up with Hankook Tire to buy US auto parts maker Visteon Corp's local subsidiary Halla Visteon Climate Control (HVCC) for $3.6 billion;...
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