Exits
DBS to buy Temasek’s stake in Bank Danamon Indonesia
Singaporean lender DBS Group will buy Temasek Holdings’ majority stake in Bank Danamon Indonesia for about $4.9 billion. Already Southeast Asia’s biggest bank, DBS sees the acquisition as a means of accessing the region’s largest economy, which...
PE firms wary of India’s proposed tax law changes
Foreign private equity investors remain concerned about perceived ambiguities in India’s proposed anti-avoidance legislation, which impacts the tax treatment of offshore structures used to channel capital into the country. The legislation forms part...
Japan’s PE firms on trade sale hunt
Japanese buyout firms are making plans to offload a portion of their local portfolio companies via trade sales this year.
STIC sees 3.6x return on golf simulator deal
Young-Chan Kim went to the US in the 1990s to work for Samsung Electronics. He returned to South Korea with a business idea that has brought golf to the masses. Twelve years since its inception, Golfzon is the world’s leading golf simulation company,...
Warburg Pincus sells Kotak Mahindra stake for $272m
Warburg Pincus has fully exited India’s Kotak Mahindra Bank by selling the remaining 3.6% stake it held in the institution for INR14 billion ($272 million) on the public markets.
Saratoga to sell part of Tower Bersama stake - report
Indonesia-focused Saratoga Capital has started the sale process for part of its stake in telecom tower business PT Tower Bersama Infrastructure, alongside two other investors.
Korea Life makes final bid for Vogo’s stake in Tong Yang Life
Korea Life Insurance has submitted a final bid for Vogo Investment’s controlling stake in Tong Yang Life Insurance. Vogo is seeking to exit 60.7% of its 64% interest in the business in order to capitalize on the scarcity value of a controlling stake...
Fubon linked to buyout of Carlyle-backed Ta Chong
Fubon Financial, parent of Taiwan’s second largest life insurance firm, has announced plans to acquire a bank, prompting speculation that mid-sized Taiwanese lender Ta Chong Bank is the target.
Carlyle reinitiates AvanStrate IPO
The Carlyle Group has re-initiated proceedings to list Japanese LCD glass manufacturer AvanStrate, thanks to improved stock market conditions in Japan.
Gobi makes lucrative early exit from CIB
Gobi Partners had big plans for CIB Development. The venture firm received the green light to invest in the Malaysia-based online games operator in 2010 and put together a strategy that would boost exposure in Indonesia, the region’s largest gaming...
Lilliput founder says L Capital has submitted bid
Lilliput Kidswear’s founder and managing director claims to have received an offer for the struggling business from L Capital, the private equity arm of luxury goods giant LVMH. A sale would facilitate the exit of Bain Capital and TPG Capital.
Gobi reaps 60% IRR on CIB trade sale
Venture firm Gobi Partners has reaped an IRR of 60% on the sale of its minority stake in Malaysian online games operator CIB Development to listed gaming company Asiasoft.
Khazanah exits India’s Yes Bank
Malaysian sovereign wealth fund Khazanah Nasional has sold the 4.2% stake it acquired from ChrysCapital and other investors in India’s Yes Bank for INR5.3 billion ($106 million).
Blackstone, PAI prepare for United Biscuits carve-up
Private equity-owned United Biscuits, a one-time target of China’s Bright Food Group, is preparing to spin out its salty snacks business in a potential GBP500 million ($780 million) sale. The Blackstone Group and PAI Partners are keen to separate the...
CVC’s Mantra on the block
Private equity house CVC Asia Pacific has put its 40% stake in Australian accommodation provider Mantra Group up for auction.
SAC, GE biding time over Cosmos Bank exit
Alternative asset managers SAC Capital and GE Capital are reportedly biding their time over an exit from Taiwan's Cosmos Bank, in the hopes of generating at least $1.15 billion from a sale.
Catalyst exits Aperio for $251 million
Catalyst Investment Managers has reached an agreement with Amcor to sell its stake in Aperio Group, Amcor’s largest rival in the Australian flexible packaging market, in a transaction worth A$238 million ($251 million).
Sequoia, Accel sell Amobee to SingTel
Sequoia Capital and Accel Partners have agreed to sell US-based mobile advertising start-up Amobee to SingTel, Southeast Asia’s largest cell phone company, for $321 million.
CDH, CITIC, New Horizon buy Luye Pharma from MBK
CDH Capital, Citic Private Equity and New Horizon Capital, three of China's largest private equity firms, have bought Luye Pharma from Korea-based MBK Partners.
Japan’s Asahi favorite to buy StarBev from CVC – report
Asahi has reportedly emerged as the frontrunner to buy east European brewer StarBev from CVC Capital Partners in a deal worth up to $3 billion. It is another indication of Japanese corporates’ interest in expanding overseas, offering an exit opportunity...
Avigo-backed Spykar on the block
Avigo Capital Partners has put Spykar Lifestyle up for sale. The private equity firm, which targets investments in small- and medium-sized enterprises, acquired a 60% stake in the Indian apparel chain less than a year ago.
PE bets on Asia’s growing food demand
Food assets – notably fresh produce – are increasingly attractive to private equity firms as they potential trade sale exits to Asian corporates looking to satisfy rising domestic demand
An Australian-Asian story
Australia is the exception in Asian private equity: a market in which buyouts are routine, leveraged finance is readily available and entry and exit activity is relatively transparent. It is, one is tempted to say, Japan without the intrigue and inscrutability.
Mandarin Capital achieves 3x return on Euticals exit
Mandarin Capital Partners has sold more than half of its stake in Italian pharmaceutical ingredient maker Euticals, netting a return of three times of its initial investment - a record for Chinese private equity outbound investment.