Exits
Wolseley exits Freshmax to Maui Capital
Wolseley Private Equity has fully exited Australian fruit and vegetables supplier Freshmax through a secondary sale to Maui Capital, an Auckland-based private equity firm. The deal closed before the end of 2011, giving Wolseley enough time to return money...
Carlyle completes another China Pacific Insurance sell-down
The Carlyle Group has completed another sell-down of China Pacific Insurance Group, offloading 18 million shares and reducing its stake in the company to 4.94% from 5.15%. The private equity has now generated nearly $3.7 billion through four sales since...
Vogo expects strong returns on full exit from Tong Yang Life - Update
Vogo Investment expects to see an IRR of at least 20% on its initial investment in Tong Yang Life Insurance as negotiations with potential strategic buyers near a close. The private equity firm is seeking to exit 60.7% of its 64% stake in the business...
Olympus invests $100m in DM Healthcare, India Value Fund exits
Olympus Capital Asia Investments has invested more than INR5 billion ($100 million) for a minority stake in DM Healthcare, in a deal which enabled existing investor India Value Fund to exit the company.
Dunkin’ Donuts exit reflects consumer appeal
Fast food is a popular commodity among private equity investors in Southeast Asia who are drawn to any asset that could be interpreted a play on rising regional consumption.
IPO woes: Looking for an exit
With the public markets all but closed for IPOs, what other exit routes are available to investors?
US PE firm Yucapia exits South Korea’s IHQ
Yucapia Global PEF, a US private equity fund held by supermarket conglomerate owner Ronald Burkle, has exited almost its entire stake in IHQ, one of South Korea’s major entertainment stocks. It is unlikely to have generated a significant return on the...
China to let more SMEs list in Hong Kong
China will allow more small- and medium-sized enterprises to list in Hong Kong in what could be a game changer for private equity firms seeking overseas IPO exits for portfolio companies. The move, announced at the Asian Financial Forum in Hong Kong by...
Mayfield fund completes its exit from Fourcee
Mayfield India Fund has completed its exit from Fourcee Infrastructure Equipment, coming as General Atlantic (GA) invested up to $125 million as part of a third round of funding for the logistics company.
Navis exits Dunkin’ Donuts, Au Bon Pain in Thailand
Navis Capital Partners has completed the sale of its stake in Dunkin’ Donuts and Au Bon Pain in Thailand to local-listed Sub Sri Thai Public Company (SST) for THB1.32 billion ($41.6 million). It has secured an approximately 2.45x on its initial investment.
Fourth quarter analysis: The end of multiples arbitrage?
Fourth-quarter analysis: Growth capital investments flounder; established GPs thrive in difficult markets; trade and secondary sales fail to pick up the capital markets slack.
Arcapita seeks Polygel exit - sources
Bahrain-based investment company Arcapita Private Equity is planning to sell its 8% stake in Polygel Industries, an Indian manufacturer of cable gels.
Catalyst could sell Aperio for $256m by February
Catalyst Investment Managers could complete the sale of its packaging business Aperio Group to a trade buyer by February, according to a source.
Sabre sells Australia’s Fudge hair care to PZ Cussons
Sabre has sold Australia’s Fudge hair care brand to PZ Cussons, the company behind Imperial Leather Soap, for GBP25.5 million ($39.5 million). The acquisition is intended to increase PZ Cussons’ exposure to the male grooming sector. Its product portfolio...
Jordan completes exit from Chinese mining machinery firm
The Jordan Company, a mid-market private equity firm, has concluded the sale of its holding in Chinese coal mining equipment manufacturer International Mining Machinery (IMM) to Joy Global. Regulatory approval was granted in December to a deal struck...
Sequoia, Baring in talks to sell Coastal Projects
India’s Coastal Projects, which is backed by Sequoia Capital and Baring Private Equity Asia among others, is reportedly in talks with German firm Hochtief about a possible sale of the business.
Indian regulator unveils plans to help promoters reduce holdings
The Securities and Exchange Board of India (SEBI) has released proposals designed to make it easier for entrepreneurs or promoters to lower their stakes in companies in order to meet minimum public shareholding limits. Share buybacks via tender offers...
GA, ChrysCapital-backed Hexaware valued at $700m
General Atlantic (GA) and ChrysCapital have seen Hexaware Technologies, the IT services provider they put on the block several months ago, achieve a speculative valuation of $700 million.
Kotak Realty reaps 25% return on Noida IT park sale
Kotak Realty Fund, the properties arm of Kotak Mahindra Bank, has reaped an IRR of less than 30% on the sale of its interest in a Noida-based information technology park.
SBI sells VSN for $117m
Japanese private equity firm SBI Capital has sold its Tokyo-based staffing firm VSN to Adecco, the largest staffing group in the world, for an enterprise value of EUR90 million ($116.8 million).
ICICI Ventures exits Prize Petroleum stake to HPCL
ICICI Ventures has exited its stake in Prize Petroleum to Hindustan Petroleum Corporation (HPCL). The private equity firm owns 10% of Prize, with ICICI Bank and HDFC holding 35% and 5%, respectively. Each party is selling up, allowing HPCL, which already...
TPG to take 20% stake in Shriram Transport Finance
TPG Capital will hold a 20% stake in Shriram Transport Finance once the Indian company merges with its unlisted parent and largest shareholder Shriram Holdings Madras. The US private equity firm currently owns 49% of Shriram Holdings and the merger with...
India Awards: Private Equity Firm of the Year – Actis
Actis' exit from Paras Pharmaceuticals was not the most predictable of home runs. Strategic investors have slipped into the Indian healthcare sector over the last few years, principally targeting service providers whose business models can be replicated...
Another KEB backer looks to divest stake
The Export-Import Bank of Korea (KEXIM) is looking to sell its 6.25% stake in Korea Exchange Bank, coming as embattled buyout fund Lone Star is set to offload its 51% majority stake in the company to Hana Financial Group.