Buyouts
Q&A: Partners Group's Andreas Baumann
Partners Group has raised $2 billion for its latest PE direct investment program, up to 40% of which can be deployed outside of the US and Europe. Andreas Baumann, head of the firm’s Singapore office, highlights the opportunities in Asia
Adveq buys into Australia's king of crops
The term "real assets" doesn't generally conjure up images of almonds. And these assets aren’t widely available. California, Spain and Australia account for around 80% of a global almond market set to be worth $5 billion in 2013.
Investors eye Australian engineering carve-out
Australia-listed engineering firm UGL is weighing offers for its property service unit DTZ, just over two years after it bought the UK business from administrators in a GBP77.5 million (A$129.5 million) deal.
TPG, Fosun set for $369m China healthcare take-private
TPG Capital and Fosun Industrial have teamed up with the CEO of Chinese healthcare provider Chindex International have won board approval to privatize the NASDAQ-listed company. The deal values Chindex at approximately $369 million.
IMM set to buy Hyundai Merchant Marine's LNG business
IMM Private Equity has been selected as the preferred bidder for Hyundai Merchant Marine’s (HMM) liquefied natural gas (LNG) business in a deal worth KRW1.1 trillion ($1 billion). The announcement comes a few weeks after fellow South Korean GP Hahn &...
Hony in talks to join Giant Interactive take-private - report
Hony Capital is said to be in advanced talks to join a consortium led by Baring Private Equity Asia that is supporting the $2.8 billion take-private deal for Chinese online game developer Giant Interactive.
Adveq in $200m Australia almonds play
Adveq’s real assets division has completed the purchase of 18,000 hectares of almond orchards in Australia for A$211 million ($200 million) from commodities conglomerate Olam International. Municipal Employees’ Retirement System of Michigan and Danica...
Execution issues
Another week, another divestment by a Japanese conglomerate. This time it was Sony, which agreed to sell its personal computer business to Japan Industrial Partners (JIP) in a deal thought to be worth JPY40-50 billion ($394-493 million).
Alibaba seeks full acquisition of AutoNavi
Chinese e-commerce giant Alibaba Group has offered to buy the 72% of NASDAQ-listed AutoNavi Holdings that it doesn’t already own for $1.13 billion. The take-private deal would value the digital mapping and navigation firm, which has previously received...
PE-backed Thomas Cook India, Sterling Holiday to merge
Thomas Cook India, which was bought by Fairbridge Capital in 2012, has agreed to merge with Sterling Holding Resorts India, another private equity-backed enterprise, in a part-equity, part-cash deal worth INR8.7 billion ($140 million).
KKR eyes Asia opportunities as valuations fall
KKR sees increasing opportunities in Asia for private equity and special situations as valuations fall amid growing investor uncertainty about the prospects for emerging markets globally.
Sony agrees to sell Vaio PC unit to JIP
Sony has confirmed that it plans to sell its loss-making Vaio PC division to Tokyo-based mid-market buyout shop Japan Industrial Partners (JIP). Financial details have not been disclosed but previous estimates valued the deal at around JPY40-50 billion...
JIP in talks to buy Sony's PC business – report
Japan Industrial Partners (JIP) is said to be in talks with Sony Corp. over the tech conglomerate’s loss-making personal computer division. It would be one of the country’s highest-profile corporate divestments and part of a business reorientation strategy...
India to allow LBOs for distressed assets
Indian banks will be allowed to support leveraged buyouts of distressed companies by “specialized entities” according to plans released by the Reserve Bank of India. Under a liberalized regulatory regime for asset sales, sector-specific private equity...
PE consortium buys Aditya Birla Nuvo's BPO unit for $260m
An investor group led by Capital Square Partners and CX Partners has agreed to buy Aditya Birla Minacs Worldwide, a business process outsourcing (BPO) unit owned by Aditya Birla Nuvo (ABNL), for an enterprise value of $260 million.
Navis buys control of Hong Kong chemicals producer
Navis Capital Partners has acquired a controlling interest in Amazon Papyrus Chemicals Group, a Hong Kong-based chemicals manufacturer that supplies the paper and pulp industry.
India's IVFA backs ISS Hicare buyout
India Value Fund Advisors (IVFA) has partnered with Hicare founder A. Mahendran to acquire the pest control company from Danish multinational ISS Global. The deal, including primary growth capital, is worth INR2.5 billion ($39.7 million) and is expected...
Battles averted?
No one emerged from the debacle at NVC Lighting Technology looking particularly good.
Primavera supports $1.9b Shanda Games take-private
Primavera Capital is supporting a buyout of NASDAQ-listed Chinese online game developer and operator Shanda Games that values the company at $1.9 billion. The PE firm is backing controlling shareholder Shanda Interactive Entertainment in the deal.
CITIC Capital finally bags AsiaInfo take-private
Private equity firms have supported 11 management buyouts of Chinese firms listed in the US since mid-2011. Until last week, only two of these successful transactions - Funtalk China and Focus Media - were control buyouts, where one or more PE backers...
Tokio Marine invests $9.5m in furniture maker Asplund
Tokio Marine Capital has acquired a majority stake in Japanese furniture maker Asplund for around JPY1 billion ($9.5 million).
SC Lowy, Yuil PE buy Korea's Shinmin Mutual Savings Bank
Hong Kong-based investing and trading firm SC Lowy has teamed up with a South Korean private equity fund known as Yuil PE to buy Shinmin Savings Bank. The institution’s name will change to Choeun Mutual Savings Bank.
MSPEA-backed Feihe International buys Alf Beta Dairy
Feihe International, a Chinese infant formula and milk power producer backed by Morgan Stanley Private Equity Asia (MSPEA), has acquired industry peer Jilin Alf Beta Dairy.
Tyco shortlists PE firms for Korean unit - report
KKR, Bain Capital, IMM Private Equity and The Carlyle Group are reportedly among those shortlisted by US security specialist Tyco International as potential buyers for its South Korean unit - ADT Caps - in deal worth as much as $1.4 billion.