Exits
Hana denies asking Lone Start to cut KEB sale price
Hana Financial Group has denied reports that it had asked Lone Star to cut the $4.16 billion acquisition price for Korea Exchange Bank (KEB) by one fifth. It was claimed that the US private equity firm responded by threatening to walk away from the deal...
China exits: How much longer can the pre-IPO party last?
Chinese private equity funds that were drawn into the market by high public exit valuations are being given pause for thought. It represents a tipping point for Shenzhen’s ChiNext and SME Boards
Lone Star has six months to reduce KEB stake
Lone Star may have no more than six months to reduce its stake in Korea Exchange Bank (KEB) to 10% or lower after Korea’s Financial Services Commission said Monday that it had begun the process of ordering a divestment. The move comes in response to...
PE-backed Technovator International to list in Hong Kong
Technovator International, China’s leading energy management systems company, is seeking to raise up to HK$146 million ($18.7 million) through a Hong Kong IPO. The company is controlled by Shanghai-listed Tsinghua Tongfang, which is part-owned by the...
Blackstone buys NZ Burger King franchise from Anchorage
The Blackstone Group has agreed to buy Antares Restaurant Group, which operates the Burger King franchise in New Zealand, from Anchorage Capital Partners. Terms of the transaction were not disclosed.
Archer sells Rebel to Super Retail Group
Archer Capital has exited Rebel Group, Australia’s largest sporting goods chain, to camping and auto parts store owner Super Retail Group for A$610 million ($630 million). The transaction is expected to close on October 31.
Tokio Marine targets $903m Showa Yakuhin Kako sale - report
Tokio Marine capital has launched the sales process for its 50% stake in Japanese drug producer Showa Yakuhin Kako, targeting up to JPY70 billion ($905 million), according to Reuters.
Xunlei backs out of IPO due to market volatility
Xunlei, the Chinese software company backed by Morningside Technologies, IDG Ventures and Ceyuan Funds, has shelved plans for a $200 million IPO on NASDAQ.
Aureos sells Thai wastewater purification firm ECM
The Aureos South East Asia Fund has exited its stake in Thai industrial wastewater purification firm Environmental Care Management (ECM) to an undisclosed consortium of investors for $3.7 million.
Third Quarter 2011: Venture capital deals steal the spotlight as buyouts wane
Third quarter analysis: Early-stage deals gain traction in Asia; mixed messages on China fundraising; weak public markets see trade and secondary sales thrive
BC Partners not ruling out an IPO for Fitness First
UK-based BC Partners still plans to list gym chain Fitness First in Asia if a buyer is not found, according to sources familiar with the situation. This comes one week after the private equity investor called off Fitness First’s planned IPO in Singapore...
Japan's Murata Manufacturing acquires VTI Technologies
Private equity fund EQT III will divest its 100% stake in Finish motion sensor parts maker VTI Technologies to Japanese electronic parts maker Murata Manufacturing for JPY20 billion ($261 million).
Khazanah’s Parkway tipped to buy Sterling Hospitals from Actis
Parkway Holdings, the Singapore-based hospital operator owned by Khazanah Nasional, is the favored bidder for Actis’ Sterling Hospitals. The deal, which could be worth around INR7 billion ($142 million), would allow Parkway to enter India’s $65 billion...
Mekong Capital exits hotel decorator AA Corporation
Mekong Capital, a Vietnam-focused private equity fund, has exited its 100% stake in luxury furniture maker and hotel decorator AA Corporation to an undisclosed investment fund. It has achieved a gross return multiple of 2x and a gross IRR of approximately...
India’s Just Dial plans NASDAQ listing
Private equity-backed Indian search engine Just Dial is looking to list its international unit on NASDAQ, barely two months after filing for a domestic IPO worth up to INR3.6 billion ($79 million).
Revised India FDI regulations threaten PE exits
Private equity activity in India is expected to take a hit following the introduction of new rules that clamp down on foreign direct investment (FDI) into the country.
Advantage, KKR, Olympus line up for MBK-owned Yayoi
Advantage Partners, KKR and Olympus Capital are reportedly among the potential bidders for Japanese accounting software developer Yayoi from MBK Partners.
India PE deals reach $8.57b in first three quarters of 2011
Private equity firms invested approximately $2.25 billion in 98 deals in India in the third quarter of 2011, bringing the industry’s total to $8.57 billion in 317 transactions for January-September. This marks a significant increase on the $6.4 billion...
Lone Star found guilty of manipulating KEB's stocks
A Seoul court has found US buyout fund Lone Star guilty of manipulating the stock prices of Korea Exchange Bank (KEB) in 2003, and has ordered the fund to pay KRW25 billion ($21 million) in damages.
Yahoo examines options for exiting Japanese business – report
Yahoo is close to unloading its 35% stake in Yahoo Japan and it is thought that a sale could happen relatively quickly, potentially simplifying decisions about the US firm’s wider prospects.
Citic Securities disappoints on Hong Kong trading debut
Citic Securities, which raised $1.7 billion through an IPO backed by investors including Temasek Holdings and Kuwait Investment Authority (KIA), performed poorly on its Hong Kong market debut Thursday, dropping 10.5% before closing unchanged.
Blackstone exits first property in China
The Blackstone Group has sold its first property in China, exiting its 95% stake in Shanghai’s Channel 1 shopping mall to Hong Kong-based real estate group New World Development for RMB1.46 billion ($229 million). The deal is scheduled to close in early...
Baring group looks to exit Singapore-based Courts Asia
A unit backed by Baring Private Equity and a consortium of investors is looking to sell Singapore-based furniture and electronics franchise Courts Asia for more than S$500 million ($382 million).
Blackstone’s GSO exits Stolle to Japanese strategic buyer
GSO Capital Partners, Blackstone Group’s credit business, will sell Stolle Machinery to Japan’s Toyo Seikan for $775 million. The transaction is expected to close before the end of 2011, subject to regulatory approvals.