Exits
Unified Partners agrees to exit SXL to Yamada Denki
Unified Partners, a Tokyo-based private equity firm, has agreed to sell its entire 40% stake in custom home builder SXL to Yamada Denki, an appliance retail chain operator.
Warburg Pincus exits Indian publishing conglomerate
Warburg Pincus has reportedly sold its remaining 3.6% stake in Indian media company DB Corp. - the owner of India’s second-largest Hindi daily Dainik Bhaskar - for INR1.57billion ($34.6million) on the National Stock Exchange. Shares in the company reportedly...
Lone Star exits Meguro Gajyoen ahead of loan maturation
US private equity firm Lone Star is planning to sell its Japanese real estate portfolio company Meguro Gajoen for as much as JPY100 billion ( $1.3 billion), according to Reuters.
iLabs looks to exit 35% stake in Indian broadcasting network
Indian VC firm iLabs Venture Capital Fund, sponsored by businessman Srini Raju, is negotiating with private equity firms to offload a 35% stake in its television network Associated Broadcasting Company (ABCL), which runs the TV9 regional channels, according...
IFC seeks exit from Bank of Shanghai
The International Finance Corp. (IFC), the World Bank's investment arm, is seeking unload its 7% holding in Bank of Shanghai (BoS), according to Reuters.
Bank of America struggles to find buyers for CCB stake
Bank of America is struggling to find buyers for its 10% stake in China Construction Bank as investors are wary of forthcoming rights issues, share sales and new listings by Chinese lenders.
CAS Capital to exits controlling stake in Japanese restaurant chain
CAS Capital will sell controlling stake in Japanese restaurant chain Kazokutei to H2O Retailing, a listed holding company of Hanshin and Hankyu Department Store Groups, through a tender offer buyout.
Carlyle, Unison sell nearly half of Covalent for $450m
The Carlyle Group and Unison Capital has sold part of Covalent Materials, a Japanese silicon wafer and ceramics manufacturer to Taiwanese solar wafer maker Sino-American Silicon Products (SAS). The deal size has not been disclosed, but it is thought to...
New China Life targets $4b IPO
New China Life Insurance, which is part-owned by several private equity interests, plans to raise up to $4 billion through a dual IPO in Hong Kong and Shanghai.
Carlyle-backed New Century Hotel Group plans IPO
China’s New Century Hotel Group, one of The Carlyle Group’s portfolio companies, plans a $400 million IPO in Hong Kong in September, The Wall Street Journal reported, citing people familiar with the situation. Deutsche Bank and Morgan Stanley have...
Asahi to buy Independent Liquor for $1.3b – report
Asahi Group Holdings is set to reach an agreement this week on the JPY100 billion ($1.3 billion) purchase of Independent Liquor, which is owned by Pacific Equity Partners (PEP) and Unitas Capital, The Nikkei reported.
PEP, Unitas tipped to sell Independent Liquor to Asahi
Asahi Group Holdings has emerged as the leading candidate to purchase New Zealand drinks maker Independent Liquor, which is currently owned by Pacific Equity Partners and Unitas Capital. The deal could be worth up to NZ$1.4 billion ($1.2 billion), Dow...
Carlyle completes third CPIC sell-down
The Carlyle Group remains on courpse for one of its biggest cash exits globally after making a third sell-down in China Pacific Insurance (CPIC) in the space of seven months. The private equity firm is believed to have raised around $990 million in its...
Lombard exits stake in Thai auto parts manufacturer
Lombard Investments has exited its stake in Thailand-based auto parts manufacturer Somboon Advance Technology (SAT), earning a 3.5x return on its investment.
Cargotec set to buy Carlyle’s stake in China Crane
Finland’s Cargotec will acquire The Carlyle Group’s 49% stake in China Crane Investment Holdings in connection with a joint venture it has agreed with Jiangsu Rainbow Heavy Industries (RHI).
Carlyle in third China Pacific sell-down since December
The Carlyle Group is selling nearly one-third of its stake in China Pacific Insurance for up to $1 billion, according to a term sheet seen by Dow Jones Newswires. The transaction would be the latest in a series of sell-downs that have put the private...
J.C Flowers considers joint bid with TStone for Woori
J.C. Flowers is in talks with TStone, the South Korean private equity firm, to join the bid for a 57% stake in Woori Financial Holdings that is being divested by the Korean government, Reuters reported.
PE-backed IPOs reach four-year high in second quarter
Chinese and Indian firms contributed $2.7 billion of the $17.2 billion raised through IPOs by private equity-backed companies worldwide in the second quarter of 2011, according to Ernst & Young. The proceeds, which came from 45 offerings, represent the...
KEXIM to sell KEB stake as part of Lone Star transaction
Export-Import Bank of Korea (KEXIM) will sell a 6.25% stake in Korea Exchange Bank to Hana Financial Group as a “tag along” to Hana’s purchase of Lone Star’s holding in the bank, according to Yonhap, a South Korean news agency. The tag along right...
Former Lone Star head in Korea taken into custody
Paul Yoo, the former head of Lone Star in South Korea, has been detained after a Korean judge labeled him a flight risk amid allegations that he, Lone Star and the Korean Exchange Bank (KEB) manipulated KEB's stock prices.
Strategic Ventures sees 4x return on CBaySystems stake sale
Strategic Ventures Fund (SVF), a Mauritius-based private equity fund managed by Frontline Strategy Limited, has sold its stake in in Indian clinical-services outsourcing specialist CBaySystems, for a 4x return on its original investment, AltAssets reported.
Lone Star to begins Tokyo Star divestment process - report
US-based buyout fund Lone Star has begun preparations to divest its 30% stake in Japanese lender Tokyo Star Bank, Reuters reported, adding that Lone Star has asked investment banks to submit proposals to advise on the potential sale.
Collins rescues Angus & Robertson
Book, Entertainment and Stationary vender REDGroup Retail is a blot on Australia’s private equity landscape. With Collins Booksellers agreeing to buy a number of its bankrupt rival’s Angus & Robertson (A&R) franchises, perhaps the blot can finally...
Trinity Capital sells stake in Indian property project back to Keystone
Trinity Capital has sold its 16% stake in Kapstone Constructions, a subsidiary of Mumbai-based developer Keystone Realtors, back to the parent company for about £12.6million ($20.2million). The sale comes five years after the UK-based real estate fund...