Buyouts
Australian Tax Office sees TPG-Myer court ruling overturned
An Australian Federal Court has overturned an earlier ruling that allowed the Australian Tax Office (ATO) to serve legal documents to TPG Capital’s country head as part of its efforts to settle a A$739 million ($784 million) tax bill arising from the...
Headland completes deals in Singapore, South Korea
Headland Capital Partners has taken a minority stake in Miclyn Express Offshore (MEO), which supplies vessels to the oil and gas industry, and backed existing portfolio company Unison eTech (UET) in the acquisition of another South Korean construction...
Blackstone claims capacity to invest up to $800m a year in India
The Blackstone Group has the capacity and ability to deploy $500-800 million ever year in India if the macroeconomic environment and other factors stay favorable, according to Akhil Gupta, who oversees the firm’s India operations.
Dysentery delays Bain’s buyout of restaurant chain Skylark
Bain Capital’s acquisitions of Japanese restaurant chain Skylark from Nomura Principal Finance has been put on hold after an outbreak of dysentery led to the closure of 120 outlets in late August.
Foster's accepts SABMiller takeover bid
SABMiller is to acquire Australian brewing giant Foster’s Group for A$9.9 billion ($10.2 billion). The takeover comes three months after Foster's Group rejected an A$9.5 billion bid by the UK label, branding it as too low.
TPG, Farallon linked to GTL Infrastructure acquisition
TPG Capital and Farallon Capital are among the private equity investors interested in telecom tower business GTL Infrastructure. Sources told The Economic Times that a PE-led consortium of telecom player is the most likely buyer of the company, which...
Carlyle acquires healthcare staffing firm NIC for $149m
Carlyle has acquired Tokyo-based medical staffing services firm NIC Corp. for JPY11.5 billion ($149 million). The investment was made from its JPY165.6 billion yen-denominated Carlyle Japan Partners II fund, which targets mid-sized companies. It is the...
PE bid for Yahoo complicated by Asia business interests
Yahoo’s 40% stake in Chinese B2B platform Alibaba Group and its 35% holding in Yahoo Japan have emerged as key elements of any potential private equity bid for the US internet company.
PAG backing takes Funtalk China private
PAG Asia Capital's $250 million commitment to Funtalk China Holdings cements the fourth privatization of a US-listed Chinese firm in the space of five weeks. In total, six management teams – often backed by private equity – have closed buyout transactions...
Japanese outbound M&A: Strategic imperative
Japanese food and beverage companies are on the acquisition trail as they seek to ease dependence on local markets. It’s a tough time for PE buyers, a great time for PE sellers
Private equity's fashion fix
When it comes to capitalizing on rising disposable incomes in key Asian markets, investors are finding the region’s fashion and lifestyle segment in vogue
Bain buys MYOB as markets sink Sage bid
Recent turbulence in the global markets did private equity a favor last week as Bain Capital emerged as the unlikely victor in the auction for Australian accounting software firm MYOB. Bain and KKR had for several weeks been regarded as the frontrunners...
Hahn & Company closes first fund
Hahn & Company, the South Korea-focused private equity firm founded by Scott Hahn, formerly Morgan Stanley Private Equity (MSPE) Asia’s (MSPEA) chief investment officer, has recorded a final close on its first fund, reaching the hard cap of $750 million....
Australia pursues Myer profits offshore
No one expects the ATO to get far in its attack on TPG’s Luxembourg and Cayman entities
Bright Foods anticipates more acquisitions in Australia
China’s Bright Foods is looking to continue its buying spree in Australia following the completion of its acquisition of a 75% stake Manassen Foods. It hopes to use the market as springboard to becoming an international food producer of scale.
United Technologies may edge out PE for FirePro buyout
US-based United Technologies has reportedly emerged as the front runner to buy Bangalore-based fire-protection firm FirePro Systems for $200 million – an asset that is said to also have been courted by global private equity firms.
China’s Zhongpin seen as potential PE target
Chinese pork processor Zhongpin has been tipped as a potential target for private equity investors. Tim Tiberio, an analyst at Chardan Capital Markets, said that the long-term opportunity for consolidation in China’s food processing industry “is too...
PE’s love-hate relationship with corporates
This week's AVCJ highlights three deals, all located down under, involving corporates in private equity – Bain Capital outbidding Sage for Archer and HarbourVest’s MYOB, Asahi taking over Independent liquor from Pacific Equity Partners and Unitas,...
China's outbound investments increase 40% in H1 2011
Outbound Chinese M&A activity rose 40% in H1 2011 from the same period in 2010, Robert W. Baird & Co. announced in its China M&A Market report, translating to a 50% rise in the collective deals’ value.
Qantas dismisses private equity takeover talk as speculation
Australian airline Qantas said Wednesday that it had received no approaches from prospective buyers but acknowledged rumors that private equity firms are interested in the business. "As far as we are concerned there is no formal or informal bid on the...
Osakakoshinko accepts Tasumi Shokai buyout offer
Osakakoshinko, a listed Osaka-based real estate developer and manager, has accepted a tender offer made by Tasumi Shokai, an Osaka logistics company. Tasumi Shokai already owns 73.17% of Osakakoshinko.
Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters...
SABMiller launches hostile takeover bid for Foster’s
SABMiller has launched a hostile takeover bid for Foster’s, worth A$9.5 billion ($10 billion), after the Australian brewer refused to negotiate on its initial proposal two months ago. SABMiller said Wednesday that it would put its A$4.90 per share cash...
Indian media group assumes control of BBC’s local magazine business
Bennet, Coleman & Co. (BCCL), owner of the Times of India, has bought out joint venture partner BBC Worldwide to take full control of Worldwide Media, an Indian magazine publisher. The sale is part of a wider effort by the commercial arm of the UK public...