Exits
Secondary buyouts: Second helpings?
Secondary buyouts appear to be gathering pace in Asia Pacific, from the buyers reportedly circling Loscam in Australia to indications of interest around China Network Systems in Taiwan.
China Everbright sells Everbright ALAM stake to Ashmore
China Everbright Ltd. has sold up to a 39% stake in Everbright ALAM, its investment manager specializing in China real estate currently co-owned with RQSI Ltd., to Ashmore Investment Management, a specialist emerging markets asset manager.
MENA SWFs eyes Agricultural Bank of China IPO
The Kuwait Investment Authority has emerged as one of the SWFs interested to invest in the IPO of the Agricultural Bank of China (ABC) in Shanghai and Hong Kong this year, with plans to invest some $1 billion in what would be the year's largest listing,...
Carlyle, Taiwan Mobile talk to extend stalled deal
The Carlyle Group and Taiwan Mobile are in discussion to extend the deadline on the planned $1 billion stake swap between Carlyle-owned Kbro Ltd. and Taiwan Mobile, which hit regulatory problems in April.
GIC RE plans IPO for Japan assets
GIC Real Estate, the real estate arm of state-owned Government of Singapore Investment Corporation (GIC), is reportedly aiming to list a large portion of its property assets, potentially raising between $500 million and $1 billion, at an unconfirmed venue,...
Sequoia makes partial PathLabs exit
Sequoia Capital India is making a partial exit from its investment in Dr Lal PathLabs, a leading local diagnostics and pathology chain, selling around half of its 30% stake in the business, with a probable deal value of some $25.4 million.
Oz private equity tax ruling deferred indefinitely
The Australian Taxation Office (ATO) has deferred for the third time its long-awaited ruling on taxation of private equity profits in Australia, pending a government review of tax policy in the sector.
Warburg Pincus may join ICICI Metropolis bidding
Warburg Pincus has become the latest private equity firm to join the bidding for the 20% stake in Metropolis Healthcare held by ICICI Venture, which has also attracted interest from Apax Partners and TA Associates.
Sindicatum Carbon preps pre-IPO placement
Sindicatum Carbon Capital, a Singapore-headquartered clean energy projects developer, has announced that it is preparing a $100 million private placement with three private equity firms prior to its planned listing.
DCM, Walden-backed Dangdang seeks IPO by year end
VC-invested Chinese online shopping site Dangdang.com has appointed Credit Suisse and Morgan Stanley as advisors for a US IPO, expecting to list by year end.
Mayfield exits Servomax to founders
Mayfield is planning to sell its stake in power equipment company Servomax India Ltd., bought for $3.75 million in 2008, back to the founders.
VC-backed Jinko Solar disappoints at IPO
VC-backed Chinese solar company Jinko Solar Holding Co. Ltd., could not raise its expected target from its IPO on the New York Stock Exchange; selling 5.84 million American Depositary Shares for $11, the bottom of an expected price range up to $13,and...
CVC flies into Stella/Jetset stock merger
CVC Capital Partners has had a public markets exit of sorts on its Australian travel investee Stella Travel Services through an all-share merger with listed industry peer Jetset Travelworld, creating a 50:50 JV listed business worth some A$440 million...
Korean regulator says no bias against foreigners
With a $3.7 billion stake in Korea Exchange Bank (KEB) up for sale, a commissioner with Korea’s Financial Services Commission, Choi Kyu Yun, said in an interview that “the market has misunderstood our position,” and that foreign bidders would be welcome...
TPG sells Ping An H-shares
On the back of last week’s report that TPG Capital's legacy fund Newbridge Asia sold out its 16.76% stake in Shenzhen Development Bank to Ping An Insurance, the group has sold over half of the H-shares it received as payment into the market for a total...
Prax to sell out of China property venture
Prax Capital, a China-focused private equity firm, will sell its 40% holding in its JV Success Hill Investments Ltd, to China Housing & Land Development, Inc., a NASDAQ-listed property developer for RMB576 million ($84.5 million).
TPG clear to exit China bank to Ping An
TPG Capital's groundbreaking early investment in China’s banking sector appears close to an exit in its sale of its c.16.76% stake in Shenzhen Development Bank to local insurance giant Ping An Insurance Group.
Nippon Mirai exits Daiichi Seimitsu Sangyo
Nippon Mirai Capital, the turnaround-focused independent buyout fund based in Tokyo, has agreed to sell its 100% stake in Daiichi Seimitsu Sangyo Co., Ltd., a maker of plastic molds, to Minebea, a listed manufacturer of high-precision components, for...
CVC fastens Acument Asian assets deal
CVC Capital Partners has won an auction against Kohlberg Kravis Roberts & Co. and Unitas Capital for the Asian assets of fastener manufacturer Acument Global Technologies, estimated at around $300 million.
Bain draws secondary buyout interest for Outback in Asia
Bain Capital, seeking buyers for the Asian assets of investee Outback Steakhouse, is seeing strong private equity interest from firms including Barings Private Equity Asia, Permira, and Unitas Capital, according to reports.
Hepalink Shenzhen debut confirms Goldman result
The debut of Shenzhen Hepalink Pharmaceutical Co, Ltd. on the Shenzhen Stock Exchange on May 6th confirmed the expected result for investor Goldman Sachs, which reaped a 235x result on its $4.9 million 2007 investment.
New Century IPO shrinkage, scrapping sends mixed SGX exit signals
Singapore's biggest prospective IPO so far in 2010, the S$666.4 million ($484 million) listing of China's New Century Shipbuilding, was withdrawn at the last minute, reportedly over disclosure issues in its prospectus.
ANZ hires Goldman Sachs JBWere, JPMorgan for KEB
Australia and New Zealand Banking Group has reportedly retained Goldman Sachs JBWere and JPMorgan as advisors for its bid on Lone Star Funds' majority stake in Korea Exchange Bank.
General Atlantic may see Patni founders exit to NTT
General Atlantic may see the founding entrepreneurs in Indian investee Patni Computer Systems sell their combined 46.5% stake to Japan's NTT Data Corp., for up to $936 million.