Buyouts
Dentsu challenges take-private of China's Charm Communications
The CMC Capital-backed privatization of Charm Communications is being challenged by Dentsu Aegis, which refused to accept the terms for the acquisition of its minority stake in the Chinese advertising agency.
NZ Super, Infratil target aged care integration
Morrison & Co, an investment manager of New Zealand-listed infrastructure fund Infratil, has been looking into Australian retirement village space for a while. In early 2014, it approached RetireAustralia, the country’s fourth-largest player, as a potential...
MSPEA enters the China hospital space
To Homer Sun, CIO at Morgan Stanley Private Equity Asia (MSPEA), the current climate in China’s hospital services space is reminiscent of pharmaceuticals circa 2008. Government policy was pushing the industry towards consolidation and MSPEA capitalized,...
China outbound: More haste, less speed
Much is expected of Chinese private equity firms in terms of cross-border acquisitions in Europe and the US. While broader economic dynamics point to more deal flow, the GPs themselves are moving with caution
December deals: A Christmas story
JKL Partners and a unit of South Korean conglomerate Harim Group were named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean on December 17. This was slightly more generous to those looking forward to a seasonal break than the...
TPG, PAG consortium merges DTZ with Cassidy Turley
TPG Capital, PAG Asia Capital and their co-investor Ontario Teachers’ Pension Plan (OTPP) have followed up their acquisition of DTZ, the property services arm of Australia-listed UGL, with the purchase of US-based Cassidy Turley.
Fosun consortium set to win battle for Club Med
A consortium led by Fosun International looks set to emerge victorious from the long-running battle for Club Méditerranée (Club Med) after rival bidder Global Resorts withdrew from the process.
VIDEO: Terra Firma's Guy Hands
European businesses are selling for higher multiples because financing has come back, but they are still quite reasonably priced compared to pre-global financial crisis levels, says Guy Hands, chairman and CIO of Terra Firma. The question for buyers is...
NZ Super, Infratil agree buy RetireAustralia for $521m
New Zealand Superannuation Fund (NZ Super) and infrastructure investor Infratil have bought retirement village operator RetireAustralia for A$640.2 million ($521 million) from J.P. Morgan Special Opportunities Group and Morgan Stanley Real Estate.
MSPEA, Sihuan Pharma invest in Chinese hospitals - UPDATE
Morgan Stanley Private Equity Asia (MSPEA) has teamed up with Sihuan Pharmaceuticals – one of its portfolio companies – and that company’s chairman to invest RMB1.24 billion ($200 million) in two Chinese hospitals.
Carlyle to pay $483m for GE's AsiaSat stake, launch take-private
The Carlyle Group has agreed to acquire General Electric’s (GE) interest in Asia Satellite Telecommunications (AsiaSat) for up to HK$3.75 billion ($483 million) and then make a buyout offer for the Hong Kong-listed company.
Fosun consortium raises offer for Club Med yet again
A consortium led by Fosun International has submitted another improved offer for Club Méditerranée (Club Med) – extending a process that has already more than 18 months and during which the bidding price has risen nearly 45%.
Apollo agrees partnership with Australia's Leighton Holdings
Apollo Global Management has agreed to buy half of Leighton Holdings’ maintenance services business, generating cash proceeds of around A$700 million ($573 million) for the Australian construction company.
JKL, Harim Group named preferred bidder for Korea's Pan Ocean
JKL Partners and a unit of South Korean agricultural conglomerate Harim Group have been named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean.
Hahn & Co leads $3.6b acquisition of Visteon's Korean unit
US auto parts maker Visteon Corp. has agreed to sell a 70% stake in its South Korea-based subsidiary Halla Visteon Climate Control Corp. (HVCC) to Hahn & Co. and Hankook Tire for around $3.6 billion.
Carlyle starts a new chapter with Newgen
When The Carlyle Group first parted ways with India-based publishing and technical services provider Newgen KnowledgeWorks in 2011 it was on good terms.
2014 in review: A year of record-setting
Strong capital markets facilitate bumper exit activity; pan-regionals, venture capital dominate fundraising; China’s leads revival in growth capital investment, with Korea still buyout central
Australia's Bradken opens books to PE suitors
Australian mining industry supplier Bradken has agreed to open its books to Pacific Equity Partners (PEP) and Bain Capital following the private equity firms’ offer to buy the company.
Riverside debuts in SE Asia with Malaysia chemicals deal
The Riverside Company has bought Malaysian chemical distributor Drex-Chem Malaysia (DCM) for an undisclosed sum in its first ever Southeast Asia investment.
AVCJ Awards: Deal of the Year - Large Cap: Nanfu Battery
CDH Investments’ acquisition of Nanfu Battery is a rare carve-out from a multinational in China, and an even rarer example of a PE firm returning to back a former portfolio company
Carlyle, Unison to exit Japan semiconductor firm Covalent
The Carlyle Group and Unison Capital are to exit their stake in Covalent Materials, a Japanese semiconductor materials manufacturer, to US ceramics group CoorsTek.
The trust factor: Repeat buying in Asian PE
Navis Capital Partners completed a management buyout of Dome Coffees Australia in 2003. The business grew and Navis prospered, securing a 3.5x return on exiting the asset via another management buyout five years later. Fast forward to September 2014 and...
I Squared Capital to buy India toll road from Malaysia's IJM
I Squared Capital, a PE firm set up by former executives of Morgan Stanley’s infrastructure investment unit, has agreed to buy a toll road in northwestern India from Malaysia-based IJM Corp.
CITIC launches tender offer for Japan's Schott Moritex
CITIC Capital Partners has launched a tender offer to acquire a controlling stake in Schott Moritex Corporation, a Japan-based manufacturer of vision lenses for machines.