Buyouts
Deal focus: IMM overcomes distancing disruption
Health and safety was a priority when IMM Private Equity negotiated a $413 million carve-out of Korea Kolmar Holdings' drug outsourcing business against the backdrop of COVID-19
Coronavirus & due diligence: Split screen
Finding the right balance between offline and online communication for completing due diligence processes is a tricky endeavor for PE and VC investment professionals in Asia
OPTrust joins consortium bidding for Australia's Zenith Energy
Canadian pension fund OPTrust has joined Pacific Equity Partners in the consortium looking to buy Australia-listed off-grid power provider Zenith Energy for an enterprise valuation of A$250 million ($163 million).
IMM agrees $413m Korea pharma acquisition
IMM Private Equity has agreed to acquire Korea Kolmar Holdings’ pharmaceutical contract development and manufacturing organization (CDMO) for KRW512.5 billion ($413 million).
Exacta leads acquisition of Anytime Fitness Asia
Exacta Capital Partners, a Singapore-based private equity firm affiliated with Mizuho Bank, has led an acquisition of gym operator Anytime Fitness Asia for an undisclosed sum.
IDG, Accel back take-private of Hong Kong’s Sky Solar
IDG Capital Partners and Accel Partners have joined a take-private bid for Sky Solar Holdings that values the Hong Kong-based and NASDAQ-listed power provider at around $2.5 billion.
Japan carve-outs: Profit from the core
Private equity firms hoping for a coronavirus-driven uptick on Japanese corporate carve-outs must be patient – and come armed with considered value creation plans when the time arrives
Bain confirms pursuit of Virgin Australia
Bain Capital is in the second round of bidding for Virgin Australia Holdings (VAH) and has pledged to give the beleaguered airline “a sustainable, long-term future.”
EQT faces legal action after scrapping NZ aged care deal
New Zealand retirement village operator Metlifecare has filed legal action aimed at forcing EQT Partners to fulfill an acquisition that it decided to terminate due to COVID-19.
Deal focus: KKR’s Colonial First State breakthrough
Divestments of non-core assets by Australia's big four banks are keenly tracked by strategic players and financial sponsors. KKR's investment in Colonial First State represents the first PE deal of this nature
BGH submits revised offer for Australia's Village Roadshow
BGH Capital has been granted a four-week period of exclusive due diligence by Village Roadshow, having submitted a revised bid for the Australian cinema and theme park operator that is 40% lower than its original offer.
KKR to buy majority stake in Australia's Colonial First State
KKR will buy a 55% stake in Colonial First State (CFS), the wealth management arm of Commonwealth Bank of Australia (CBA), in a deal that values the business at $3.3 billion ($2.1 billion).
Carlyle pursues control of India's SeQuent for $210m
The Carlyle Group has reached agreements that could see it pay INR16.3 billion ($216 million) for up to 74% of Indian animal healthcare services provider SeQuent Scientific.
Virtual realism: Realizing investments remotely
Does Capricorn Capital's recent acquisition of a Hong Kong corporate services business, which was negotiated and transacted via Zoom, represent the future of dealmaking? Only if due diligence processes are uncompromised
Bain makes $1b bid for Japan care services provider
Bain Capital has submitted a buyout offer for Nichii Gakkan, a Tokyo-listed provider of aged care, childcare and medical support services, that values the company at approximately JPY109.5 billion ($1 billion).
PEP looks to cut OPTrust into Zenith Energy deal
Pacific Equity Partners (PEP) wants to bring OPTrust into its bid for Australia-listed off-grid power provider Zenith Energy after the Canadian pension fund built up a sizeable position in the company.
KKR reassured by heavy Asia PE exposure as pandemic eases
KKR sees its significant exposure to Asia – which accounts for more than 30% of the firm’s overall private equity portfolio – as a source of strength as the region appears to be emerging from the coronavirus pandemic faster than the US and Europe.
CLSA acquires Japan IT services provider
CLSA Capital Partners (CLSA CP) has acquired a majority stake in Japanese IT services provider Earth Technology for an undisclosed sum.
Warburg Pincus, General Atlantic back privatization of China's 58.com
Warburg Pincus and General Atlantic have thrown their support behind Ocean Link’s proposed $7 billion privatization of 58.com, China’s leading online classifieds marketplace.
Australia's mid-market: The middlemen
Pure proprietary deals are a rarity in Australia’s mid-market. Most opportunities pass through a fragmented network of advisors, which means private equity firms must get noticed to stay relevant
Coronavirus & MAC clauses: Devil in the details
Business breakdowns caused by COVID-19 have spurred investors to re-examine their legal options with deals in pre-close limbo. That could spark a major evolution in M&A contracting
Capricorn acquires Hong Kong corporate services player
UK-based family office Capricorn Capital has made its second investment in Asia with the 100% acquisition of Hong Kong corporate services provider Ethos for an undisclosed sum.
Hamilton Lane backs Polaris-led privatization of Japan's Sogo Medical
Hamilton Lane has participated as a co-investor in a Japanese take-private for the first time, supporting a Polaris Capital Group-led tender offer for Sogo Medical Holdings, a Japanese pharmacy chain operator and B2B healthcare management platform.
KKR to acquire India solar assets for $204m
KKR has announced plans to acquire five solar energy assets from Shapoorji Pallonji Infrastructure Capital (SP Infra) for INR15.5 billion ($204 million).
