Buyouts
East meets West: China PE and European corporates
Asian companies have sunk nearly $9 billion into European assets so far this year. In 2012, the final total for Asia-to-Europe M&A was more than $54 billion across 200 or so deals, according to AVCJ Research. This is more than was deployed in the four...
DBS buys more time for Bank Danamon control deal
DBS Group has extended the deadline for it to secure majority control of Indonesia’s Bank Danamon by two months to August 1. The bank wants to acquire the 67.4% stake in Danamon owned by Temasek Holdings – also DBS’ controlling shareholder – with...
TA-owned SpeedCast acquires Australia's Pactel
TA Associates-backed SpeedCast has acquired Pactel International, an Australia-based satellite communications service provider for an undisclosed sum, as part of effort to strengthen its presence in Asia.
Billabong turns to refinancing options as buyout talks falter
Embattled Australian surfwear company Billabong has discarded the possibility of a takeover by two PE-backed suitors and is now looking at asset sales and alternative means of refinancing its debt. The private equity firms involved in the bids – Altamont...
PE-backed TVS Logistics makes second bolt-on this year
TVS Logistics, an Indian supply chain manager backed by KKR and Goldman Sachs, has acquired US-based Wainwright Industries for INR500 million ($8.8 million).
Banks put up $7b for PE-backed Shuanghui’s Smithfield deal – report
Bank of China and Morgan Stanley will provide $7 billion in financing for PE-backed Shuanghui International’s buyout of a US pork producer Smithfield Foods. The proposed deal, which values Smithfield at $7.1 billion including debt.
CITIC PE completes $370m 3SBio take-private
Chinese biotechnology firm 3SBio will delist from NASDAQ after shareholders voted in favor of a privatization bid from a group led by the company’s CEO and CITIC Private Equity. The deal, which values 3SBio at $370 million, is the eighth successful...
HP to divest India’s MphasiS, PE firms eye deal – report
The Carlyle Group, The Blackstone Group, Advent International and Bain Capital are said to be in talks to buy HP’s 60.5% stake in Bangalore-based MphasiS, an IT services exporter. Domestic strategic players L&T Infotech and Tech Mahindra have also been...
Cerberus raises Seibu stake, falls short of target
Cerberus Capital Management has raised its stake in Japan's Seibu Holdings to 35.48%, giving it enough control to block resolutions by management. However, the New York-headquartered firm fell short of its goal of buying 44.7% of the Japanese rail and...
Temasek-backed healthcare firm HCG acquires majority stake in BACC
HealthCare Global Enterprises (HCG), an Indian cancer treatment specialist backed by Temasek Holdings, has acquired a majority stake in Bangalore Assisted Conception Centre (BACC), a leading provider of fertility care. Details of the transaction were...
CDH, Goldman-backed Chinese pork producer bids for Smithfield
Shuanghui International, a Chinese pork producer that counts CDH Investments and Goldman Sachs among its investors, has offered $4.7 billion in cash for US-based Smithfield Foods. The proposed deal, which values Smithfield at $7.1 billion including debt,...
PE firms target SingTel’s Australian satellite unit
Singapore Telecommunications (SingTel) has put its Australian satellite unit up for sale, seeking at least A$2 billion ($1.9 billion), and a string of private equity firms and strategic investors are said to be chasing the asset.
MGPA deal expands BlackRock’s Asia footprint
Asia Square, a twin tower complex in Singapore's Marina Bay, is set to be city state’s most environmentally friendly building. Designed by architects Denton Corker Marshall, it will house the world’s largest solar panel roof installation and the first...
Indonesia financial services: Too hot to handle
For all the foreign strategic interest in Indonesia’s financial services sector, most deals are thwarted due to a huge gap in price expectations. PE investors are steering clear of the mainstream and looking for niche value
Fosun, Axa make $700m buyout offer for Club Med
Chinese conglomerate Fosun International and Axa private equity have submitted a friendly takeover bid for French-based vacation resorts operator Club Méditerranée (Club Med). It values the company at EUR556 million ($700 million).
Panasonic's healthcare business to attract 10 PE bidders - report
Around 10 private equity firms and a handful of strategic investors are expected to enter first-round bids for Panasonic's healthcare unit.
MBK, PE-backed insurers bid for ING’s Korean unit
MBK Partners, Tongyang Life Insurance and Kyobo Life Insurance have made separate bids for a controlling stake in ING Groep’s South Korean insurance business. The stake was valued at approximately $2.1 billion last year, when KB Financial Group was...
Japan's NTT Docomo acquires Guam cable operator from Seaport Capital
Japanese wireless operator NTT Docomo has acquired Guam cable operator MCV Broadband from New York private equity firm Seaport Capital for an enterprise value of approximately $130 million.
Partners Group buys majority stake in India’s CSS Corp - Update
Partners Group has acquired a majority stake in IT services provider CSS Corp. for $270 million. The deal facilitates the exit of existing investors SAIF Partners, Goldman Sachs and Sierra Ventures.
PE-owned Australian power producer targets US debt issue – report
Alinta Energy, the Australian power producer controlled by TPG Capital, is said to be planning to raise at least $1 billion through a debt offering in the US. It joins a growing list of private equity-owned companies that are looking outside of Australia...
Sequoia backs Chinese vegetable producer MBO
Sequoia Capital has teamed up with the chairman and CEO of Chinese vegetable producer Le Gaga Holdings to submit a buyout offer that values the NASDAQ-listed company at around $183 million. Le Gaga has seen its net profit increase fourfold over the last...
CDH to make distributions of $1b for the year
CDH Investments has distributed $500 million to LPs in the last seven months and is on course to return a similar amount by September. The China GP has made full exits from real estate developer Sunac and auto parts firm Nanjing Aotecar during the period,...
China's Cathay resumes pursuit of Discovery Metals
Chinese private equity firm Cathay Fortune Corporation (CFC) has made a renewed takeover bid for Australia-listed mining company Discovery Metals. The offer is the latest development in ongoing spat between CFC and Discovery Metals, whose principal asset...
AMCG invests $30m in Chevalier for Moraitis acquisition
Asia Mezzanine Capital Group (AMCG) has invested in $30 million in Chevalier International Holdings, aiding its acquisition of Australia's Moraitis, a fruit and vegetable wholesaler backed by Catalyst Investment Managers. AMCG provided the financing via...