Buyouts
Quadrant takes majority stake in Australian pet food supplier
Quadrant Private Equity has bought a majority stake in Australian pet food retailer City Farmers for A$93 million ($84 million).
Longreach completes precision drilling carve-out from Hitachi
North Asia mid-market buyout firm The Longreach Group has agreed to buy precision drilling business Hitachi Via Mechanics (HVM) from Japanese conglomerate Hitachi. It is said to be the first time Hitachi has divested a sizable asset to private equity...
Baring Asia to invest in PE-backed Hexaware - report
Baring Private Equity Asia (BAPE) is said to be in talks to back Hexaware Technologies, with a view to taking a majority stake in the Indian software company.
PE firms bid for Fortis' Quality Healthcare - report
The Carlyle Group, Advent International and Mitsui and Co. are among the 10 bidders for Hong Kong’s Quality Healthcare Medical Services, which is being sold by PE-backed Fortis Healthcare.
Blackstone offers $322m for property developer Tysan
The Blackstone Group has offered to buy Hong Kong-listed real estate developer Tysan Holdings for approximately HK$2.5 billion ($322.5 million)
IDFC-backed Green Infra acquires TVS Energy
IDFC Private Equity-backed Indian independent power producer Green Infra (GIL) will buy a 90.46% stake in TVS Energy for an undisclosed amount.
Seven PE firms, strategics bid for Hong Kong's ParknShop – report
Seven private equity and strategic investors have reportedly submitted initial offers for ParknShop, the Hong Kong supermarket chain owned by Hutchison Whampoa. The business, which is ultimately controlled by Li Ka-shing, Asia’s wealthiest individual,...
Fosun, Axa French Club Med buyout extended
The French financial markets authority, Autorité des Marchés Financiers (AMF), has extended a takeover of France-based vacation resort operator Club Méditerranée (Club Med) by China’s Fosun International and Axa Private Equity after shareholder complaints....
Australia's IRESS acquires LDC-backed software firm Avelo
Australian software company IRESS is to acquire UK tech firm Avelo Financial Services Holdings from a private equity consortium including Lloyds TSB Development Capital (LTDC) for GBP210 million ($321 million)
Clearlake backs Futuris to buck downturn
The A$200 million ($178 million) state bailout for Australia's auto industry comes after years of decline in manufacturing. Industry production numbers are the lowest since 1957. Toyota and General Motors (GM) have scaled back production amid export pressure...
Japan's secondaries surge
Secondary deals in Japan spiked in 2011 as buyouts from before the global financial crisis found an exit. With the country's economic prospects improving, industry participants expect the flow to continue
Breaking down the buyout opportunity
Multinational corporations, with one eye on their precarious balance sheets, decide to cut their losses and offload divisions. Septuagenarian founders, keen to retire from the family business but with no obvious successor, agree that it's time to cash...
Axa to exit Arkadin to Japan's NTT
Axa Private Equity has entered exclusive negotiations with Japan's NTT Communications Corporation to sell its stake in collaboration software as a service (SaaS) provider Arkadin.
MBK in exclusive talks with ING to acquire Korea unit - report
MBK Partners has reportedly entered into exclusive talks regarding the sale of ING Groep's South Korean life insurance business. The private equity firm is said to have offered KRW1.8 trillion ($1.6 billion) for the entire operation.
AIG says aircraft leasing deal with Chinese consortium is not dead
Negotiations are ongoing between American International Group (AIG) and the Chinese consortium – which includes a fund run by former Primus Financial Holdings executive Wing-Fai Ng – that has agreed to buy a majority stake in International Lease Finance...
Clearlake Capital buys Australia-based auto interiors firm
Clearlake Capital Group, the Los Angeles-headquartered PE firm, has made its first investment in Australia, buying Elders’ automotive business for A$69 million ($62 million), including debt. The divestment allows Elders to become a pure-play rural and...
Baring Asia completes Korea parcel delivery buyout
Baring Private Equity Asia has announced the acquisition of South Korean courier firm Logen. Details of the deal, said to be worth around KRW160 billion ($140 million), emerged last month prior to closing. The seller is Mirae Asset Private Equity.
DBS abandons takeover bid for Indonesia's Bank Danamon
Singapore’s DBS Group has abandoned its $7.3 billion takeover bid for Indonesia’s Bank Danamon after deciding the regulatory hurdles were insurmountable.
Nomura, Next Capital-backed Ashikaga files for IPO - report
Ashikaga Holdings, which is backed by Nomura Financial Partners and Next Capital Partners, has applied to list on the Tokyo Stock Exchange (TSE) for what could be a $1 billion IPO.
GCS sees Dexia asset management deal collapse - Update
GCS Capital's EUR380m ($503 million) bid to acquire the asset management arm of Dexia collapsed yesterday after the Franco-Belgian bank said the Hong Kong PE firm had been unable to pay for the deal.
Deal focus: Affinity agrees chaebol restructuring carve-out
Apple iTunes store has a library of more than 26 million songs, a presence in 119 countries and revenues of $12.9 billion in 2012. Its US market share is around 63%.
China Molybdenum beats strategics, PE to Rio Tinto copper mine stake
China Molybdenum (CMOC) has fought off competition from PE and strategic investors to acquire an 80% stake in Rio Tinto's Northparkes copper mine in Australia for $820 million.
Malaysia's Khazanah in Turkish insurance buyout, Abraaj exits
Malaysian sovereign wealth fund Khazanah Nasional has agreed to pay $252 million for a 90% stake in Turkish health insurer Acibadem Sigorta. The investment facilitates the exit of The Abraaj Group, which held a 50% stake in the business.
Affinity reaches $2.5b second close on Fund IV
Affinity Equity Partners has reached a second close of $2.5 billion on its fourth Asia buyout fund. The private equity firm has been on the road for about nine months in what is a challenging fundraising market for Asian GPs, with just $17.3 billion raised...