Exits
CHAMP Ventures plans IPO for SG Fleet
CHAMP Ventures is seeking to exit its 42% stake in Australian vehicle leasing and fleet management business SG Fleet Holdings by way of an IPO on the Australian Securities Exchange (ASX).
Suning acquires VC-backed group buying site Manzuo
Suning Commerce, a Chinese home appliance retailer, has acquired group buying site Manzuo.com. Transaction terms were not disclosed but the investment was said to facilitate a full exit for VC backer KPCB China.
KKR, Affinity in Asia's largest-ever trade sale
Anheuser-Busch InBev's $5.8 billion buyback of South Korea's Oriental Brewery from KKR and Affinity Equity Partners is best viewed in the context of extenuating circumstances in which the original investment was made in July 2009.
China IPOs: Incremental benefits
China’s securities regulator has introduced a registration-based IPO system designed to offer greater transparency. However, this does not mean an end to intervention in public markets processes.
Unitas completes Edwards reorientation
When Unitas Capital and CCMP Capital came across specialist vacuum products developer Edwards Group, the business was hamstrung by geography. Asia was responsible for 60% of revenues but only 30% of manufacturing activity; in Europe these figures were...
Carlyle completes partial exit from HK-listed Haier Electronics
The Carlyle Group has raised around $285 million after selling part of its stake in Hong Kong-listed appliance maker Haier Electronics Group.
Hao Capital makes $80m partial exit from Pax Technology
Hao Capital has made another partial exit from electronic payment systems provider Pax Technology, selling a 15.1% equity stake for around $80 million through a block trade. The private equity firm has now realized $100 million on an original investment...
KKR, Affinity exit Oriental Brewery to AB InBev for $5.8b
KKR and Affinity Equity Partners have agreed to sell South Korea’s Oriental Brewery to Anheuser-Busch InBev for $5.8 billion. The money multiple is more than 5x, sources close to the deal said.
RRJ-backed China diaper maker plans HK IPO - report
AAB Group, a Chinese diaper maker backed by RRJ Capital, is said to be looking to raise as much as $300 million through an IPO on the Hong Kong Stock Exchange.
VC-backed Neway jumps 32% on debut as China IPOs resume
Venture capital-backed Neway Valve, the first newly-listed company to start trading following the year-long embargo on Chinese IPOs, saw its stock open up 32% on the Shanghai Stock Exchange.
China's JD.com targets $2b IPO - report
Chinese online retailer JD.com, which has received $1.7 billion in venture capital and private equity funding in the last two years, is said to be planning an IPO for the second half of 2014.
Cerberus set for exit as Japan's Seibu agrees to Tokyo listing
Seibu Holdings, the Japanese conglomerate that had a bitter falling out with leading shareholder Cerberus Capital Management over a planned IPO three years ago, is finally expected to list in Tokyo in the first half of 2014.
India Awards: Exit of the Year – Apollo Hospitals
When Apax Partners first invested in Apollo Hospitals Enterprise, in 2007, “healthcare was a relatively undiscovered space for PE in India, even for the public markets for that matter,” says Shashank Singh, who heads the PE firm’s India office.
India Awards: PE Professional of the Year – Ravi Adusumalli
SAIF India defied a challenging exit market by taking Just Dial public and selling CSS Corp via a trade sale in 2013. Ravi Adusumalli, the firm’s managing partner, sees the weak IPO market as a mixed blessing for PE
Facebook buys VC-backed Little Eye Labs
Within 19 months of starting-up, Bangalore-based Little Eye Labs was snapped up by Facebook to take the social network’s mobile development to the next level. Little Eye Labs was also in talks with Twitter, but Facebook ended up offering a better deal....
4Q analysis: IPO awakening
Public market offerings return, or at least expectations of them; pan-regional players shore up weak fundraising market; growth deals to the fore as buyouts recede
PE-backed Chinese firms delay IPOs as CSRC tightens oversight
At least five Chinese companies – three of which have PE backers – have postponed their IPOs as the Chinese Securities Regulatory Commission (CSRC) released measures to strengthen supervision of public offerings.
KKR backs FIWA acquisition of CHAMP-owned Centric Wealth
KKR’s credit unit, KKR Asset Management, is partnering with Australia’s Financial Index Wealth Accountants (FIWA) in its takeover bid for CHAMP Private Equity-owned high net worth financial advisory Centric Wealth. KKR will provide acquisition funding...
Quvat-backed Blitzmegaplex targets Indonesia IPO
Blitzmegaplex, an Indonesian movie theater chain backed by Quvat Management, is targeting an IPO in the first quarter of 2014 as it seeks to raise capital for expansion.
Facebook buys VC-backed Indian start-up Little Eye Labs
Facebook has acquired Ventureast and GSF Superangels-backed start-up Little Eye Labs, reportedly paying around $15 million for the Android app optimizer.
Carlyle exits India's Tirumala Milk Products to trade buyer
French dairy group Groupe Lactalis has acquired Tirumala Milk Products for a reported sum of $250–300 million, allowing The Carlyle Group to exit its 26.38% holding in the South Indian dairy producer.
LightInTheBox to buy VC-backed e-commerce player Ador
LightInTheBox, the venture capital-backed Chinese online retailer that went public in the US last year, has acquired US social e-commerce site Ador for an undisclosed sum.
Japan IPOs: Rising sun
On the back of a cautious economic recovery Japan witnessed a boom in IPOs in 2013 as a host of venture capital-backed companies went public. How long will the good times last?
IVFA to exit UEM India as Toshiba buys 26% stake - report
Japanese electronics giant Toshiba Corp. is looking acquire a 26% stake in Indian water treatment specialist UEM Group from existing shareholders, including private equity investor India Value Fund Advisors (IVFA).