Exits
Goldman raises $1.1b in ICBC stake dilution
Goldman Sachs' investment in the Industrial & Commercial Bank of China (ICBC) looks to be paying off. Across three separate stake sales, the US investment firm has more than doubled its original capital commitment, and it still owns a 2.4% stake in the...
BofA sold CCB shares to Temasek, Chinese institutions
A group comprising of Singapore’s second-largest sovereign wealth fund Temasek and several Chinese institutions have materialized as the buyers of the 10.4 billion shares in China Construction Bank (CCB) sold by Bank of America (BofA) for nearly $6.6...
Australian private equity continues to outperform public markets - AVCAL
Australian private equity continues to achieve better returns than the country’s stock markets, according to research cited by the Australian Venture Capital Association (AVCAL).
BofA sells $6.6b of CCB shares
Bank of America (BofA) has jettisoned the majority of its remaining shares in China Construction Bank (CCB) for nearly $6.6 billion. The US bank now owns 1% of CCB, down from the 9.9% it once held.
Archer sues UK's Sage Group over MYOB deal
Archer Capital has filed an A$130 million ($133 million) suit against British software company Sage Group for damages related to its decision to end acquisition talks for Australian software maker MYOB.
TPG and Carlyle circle MCAG’s Regis
TPG Capital Partners and The Carlyle Group are said to be interested in buying Australia’s second-largest private care home operator, Regis Group.
Goldman dilutes stake in ICBC for $1.1b
Goldman Sachs has divested $1.1 billion worth of shares in Industrial and Commercial Bank of China (ICBC), bringing the total capital it has raised across three sell-downs to $5.26 billion.
Navis reaps 50% IRR on King’s trade sale
Navis Capital Partners has given its investors reason for cheer. Not only did the firm exit its 2008 investment in King’s Safetywear last week for well above 50% IRR (4-5x money multiple), it also signed off the buyout of the field marketing and retail...
Quadrant sells Australian jeweler to Indian trade player
Quadrant has sold its Australian portfolio company The Jewellery Group to M Suresh Group DMCC, a global jewelry maker based in Mumbai.
Gresham seeks buyer for New Zealand's Noel Leeming Group
Australian PE firm Gresham has reportedly appointed Macquarie Group to advise on the sale of New Zealand appliance retailer Noel Leeming Group, an asset that it has owned for seven years.
Baring raises $52m in Yingde sell-down
Baring Private Equity has raised HK$402.5 million ($52 million) through the block sale of Yingde Gases shares on the Hong Kong Stock Exchange, reducing its holding in the company by one third.
Bain, TPG told to give Lilliput founder first refusal on shares
The Delhi High Court has forbidden Bain Capital and TPG Capital from selling their shares in Lilliput Kidswear without first offering them to Sanjeev Narula, the company’s founder.
Navis sells King's Safetywear to Honeywell International
Navis Capital Partners has exited its undisclosed majority stake in Southeast Asian industrial footwear brand King’s Safetywear to Honeywell International for an enterprise valuation of S$430 million ($338 million).
Quadrant-backed Summerset struggles on trading debut
Summerset Group, the New Zealand retirement village operator owned by Quadrant Private Equity, saw its stock open above the IPO price of NZ$1.40 on Tuesday, although it closed marginally below it. The price slumped a further 2.84% to NZ$1.37 on Wednesday.
Owners of IT specialist Hexaware to sell their stakes
The owners of publicly listed Mumbai-based IT services provider Hexaware Technologies, which include PE firm General Atlantic, are looking to sell their stakes in the company.
Indian authorities reverse decision on options
The Indian government has backtracked on a month-old order on foreign direct investment (FDI) transactions that threatened private equity exits by limiting the use of put and call options.
Vogo to sell down part of its Tong Yang Life Insurance holding
Vogo Investment is planning to sell down part of its 61% stake in Tong Yang Life Insurance, a subsidiary of mid-size South Korean conglomerate Tong Yang Group.
Quadrant’s Summerset raises $99m through IPO
Quadrant Private Equity-owned Summerset Group, New Zealand’s third-largest retirement village operator, has raised NZ$123.6 million ($99.5 million) in the largest IPO seen in the country in two years. The company sold 88.3 million shares at NZ$1.40...
Lone Star sells distressed Japanese golf course asset PGM
Lone Star will divest its 64% stake in distressed Japanese golf course operator PGM Holdings to pachinko pinball machine maker Heiwa Corp. for JPY39.5 billion ($521 million).
Anchorage exits NZ Burger King to Blackstone
It's a good time to be targeting turnarounds in Australasia. Private equity firms, hedge funds and investment banks are pursuing a host of opportunities in the consumer segment where companies have been hit hard by the seize-up in spending that followed...
Skylark exit helps consign buyout boom to history
With Skylark sold and Yayoi likely to follow it, Japan’s megadeals of 2006-2008 are finally being dismantled and the – relatively meager – profits returned to investors
Lone Star may be told to sell down KEB stake next month - report
South Korean regulators may order Lone Star to sell down its 51% stake in Korea Exchange Bank (KEB) to less than 10% next month. The move comes after the US private equity fund was found guilty of manipulating KEB’s stock price ahead of purchasing the...
MBK's CNS exit may be stalled - report
MBK Partners’ exit from Taiwanese media group China Network Systems (CNS) may again face delays, as regulators have called into question Want Want China Holdings’ intentions for the asset.
Lilliput seeks out-of-court settlement with Bain, TPG
Lilliput Kidswear is seeking an out-of-court settlement with investors Bain Capital and TPG Capital, having taken legal action earlier this month to prevent the private equity firms from exiting the company in response to a corporate governance scandal.