Buyouts
CITIC Capital in advanced talks on AsiaInfo take-private – report
CITIC Capital is reportedly close to securing a management buyout of AsiaInfo-Linkage, the US-listed telecoms software manufacturer, to take the company private. The companies are said to be in advanced talks and the deal was thought to be worth around...
Morgan Stanley in China convenience store carve-out
Morgan Stanley Private Equity Asia (MSPEA) is on course to complete a carve-out of China Financial Services Holdings’ (CFSH) convenience store business, Hi-24.
IDG-Accel China in take-private bid for US-listed Memsic
IDG-Accel China has submitted a takeover bid for NASDAQ-listed Memsic that values the semiconductor manufacturer at $96.8 million. The prospective investor would like to work with Yang Zhao, Memsic’s founder and CEO, to formulate a definitive proposal...
Malaysia’s Ekuinas wants Icon Offshore to list by 2014
Ekuinas, the Malaysia sovereign wealth fund, plans to list its oil and gas services unit, Icon Offshore, within three years. Abdul Rahman Ahmad, the Icon’s CEO, said the company was already eligible for an IPO but they want to wait until earnings justify...
Auctions: The new normal
Private equity firms love selling assets via auction but hate buying them through such channels. As Asian company owners become more sophisticated, bidding contests for large assets are becoming more frequent.
Northstar set to complete Nera telecommunications take-private
Northstar Pacific Partners has agreed to buy a controlling 50.05% stake in Nera Telecommunications from power conversion specialist Eltek and is offering to buy the entire company for S$177.3 million ($145 million). This is the Indonesian GP's first...
Australia’s PEP targets $3.6b for Fund IV
Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.
Billabong director explores buyout options
Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...
Industry experts predict next 25 years of Asian PE - AVCJ Forum
The future of Asian private equity will see the rapid macro growth fuel the buy-out market while LPs demand more co-investment opportunities, said industry participants at the AVCJ Forum.
Warburg Pincus backs India’s Future Capital
Warburg Pincus' investment in Future Capital Holdings probably wasn’t the first private equity deal conceived on an evening flight from New Delhi to Mumbai and it almost certainly won’t be the last.
Castle Harlan bid-rigging case goes before Australian court
A deal involving a Canadian mining services company that was bought and sold by US private equity firm Castle Harlan on the same day has gone before an Australian court.
Everstone tables buyout offer for Singapore’s Harry’s Holdings
Everstone Capital has launched a takeover bid for Singapore-listed bar and restaurant operator Harry’s Holdings worth up to S$21.8 million ($17.8 million). The company founder, Mohan Mulani, and his wife Rita – who between them have a 45.9% stake...
Asia buyouts: The privatization play
Take-private transactions have created headlines in a climate of low public market valuations. Companies are being targeted in Australia, Japan and the US, but a bid doesn’t necessarily result in a deal
Riverside acquires Australian e-learning provider
The Riverside Company has bought Australian e-learning firm Learning Seat, its 300th acquisition. The transaction is the first investment of the firm’s affiliated Riverside Asia-Pacific Fund II.
Baring, Carlyle eye Warburg Pincus stake in WNS - report
Warburg Pincus is reportedly in talks with The Carlyle Group and Baring Asia over the sale of its 29% stake in Indian business process outsourcing (BPO) firm WNS Holdings.
CVC consortium wins first approval for Malaysia KFC bid
A $1.7 billion take-private bid by a CVC Capital Partners-led consortium for Malaysia's two main KFC fast food franchisees won its first approval from shareholders yesterday.
Shareholders to vote against Malaysia's KFC take-private bid
A $1.7 billion bid by CVC Capital Partners and the Malaysian state of Johor for the country's two main KFC fast food franchisees has met with opposition from investors.
Carlyle to buy Diversey Japan from Sealed Air
The Carlyle Group has agreed to by Japanese sanitation business Diversey Japan from the Sealed Air Corporation for JPY30 billion ($377 million).
Allegro Funds leads MBO of Australia’s Hastie Services
Allegro Funds has completed a management buyout of Australian industrial services group Hastie Services, months after parent company Lazard-backed Hastie Group went into administration.
New Silk Route to buy Nando’s India franchise – report
New Silk Route (NSR) will reportedly acquire a 74% stake in the Nando’s India franchise as it continues efforts to build a platform of India restaurant assets.
CHAMP PE completes lighting take-private
Take-private deals are a challenge in Australia. Conflict creates headlines, but the country appears to see its fair share of majority shareholders falling out with prospective private equity investors despite the fact that share prices have turned against...
Ekuinas acquires Malaysian shipping services provider
Ekuinas, the Malaysian sovereign wealth fund, has completed a MYR220.9 million ($72.3 million) buyout of OMNI Petromaritime, a company that provides offshore support vessels to the oil and gas industry. Ekuinas acquired an 82.5% stake in OMNI for MYR150.9...
CHAMP PE completes Gerard Lighting take-private
CHAMP Private Equity has completed the A$186 million ($192 million) buyout of Australian light fittings distributor Gerard Lighting Group. The company will de-list from the Australian Stock Exchange at the close of today’s trading, just over two years...
CHAMP Ventures enters lonely waters
The Torres Strait separates the northern tip of Queensland from Papua New Guinea. It contains more than 270 small islands, most falling under the jurisdiction of Australia, and of which only a handful are inhabited. Cairns, the nearest urban center, is...