Exits
Primus looks at EON exits
Primus Pacific Partners is in the frame to exit its 20.2% stake in Malaysia’s EON Capital as local peer Hong Leong Bank reportedly is negotiating with other shareholders to acquire the bank.
3i exits PCD Stores through Hong Kong IPO
Four years after an original investment of $31 million, 3i Group has exited its stake in PCD Stores, a luxury department store chain in China, through an IPO on the Hong Kong Stock Exchange.
DE Shaw exits DLF Assets
DE Shaw has reportedly sold its 36% stake in Indian property trust DLF Assets, netting some $500 million.
SAIF, Manitou list MOBI
SAIF Partners and Manitou Ventures investee MOBI Development Co. Ltd., a PRC radio antenna and base station manufacturer, has listed in Hong Kong.
Daiwa, Wilbur Ross to exit Nikko Electric to PRC
Daiwa Securities SMBC Principal Investment Co. and an investment fund run by American investor Wilbur Ross are reportedly planning to sell their 79.1% stake in unlisted Nikko Electric Industry Co., a Japanese manufacturer of auto parts and accessories,...
Australia tax office may hit investments
The Australian Tax Office has made a draft determination stating that in some cases profits from the disposal of assets by private equity firms can be classed as taxable income.
China Pacific raises $3.1 billion as Hopu anchors Carlyle exit
The Hong Kong IPO of China Pacific Insurance raised $3.1 billion in the world’s seventh largest listing of 2009, securing roughly a 5x profit for the Carlyle Group on its total investment of around $800 million between 2005 and 2007.
Unitas may sell Buy The Way to Interpark
Unitas Capital may reportedly be about to exit its Korean convenience store investment Buy The Way to Interpark, a local operator of online shopping malls.
Carlyle, Temasek see flat Kaisa IPO
The Carlyle Group and Temasek Holdings saw their investee Shenzhen property developer Kaisa Group Holdings begin trading on the Hong Kong Stock Exchange main board, in an IPO postponed since early 2008.
China Nuokang sees low US IPO
Sequoia Capital China investee China Nuokang Bio-Pharmaceutical Inc. fell over 11.1% before closing some 3.7% down on its first day of trading on the US NASDAQ.
China Pacific IPO priced at $3.6 billion
The IPO of China Pacific Insurance, the country’s third largest life insurer and 17.3% owned by the Carlyle Group, is set to raise as much as HK$28 billion ($3.6 billion) in Hong Kong.
Mizuho exits Japan Pure Chemical
Mizuho Capital Partners Co., the private equity affiliate of Japanese lender Mizuho Group, has sold its remaining 5.4 % stake in investee Japan Pure Chemical Co, reportedly to an unnamed US pension asset management firm.
Carlyle gets offers for Willcom
The Carlyle Group’s 60%-owned investee Willcom Inc, a PHS (Personal Handy Phone) carrier in Japan, has received proposals from a number of potential buyers, including Softbank, Japan’s third largest mobile carrier, as well as other investment funds.
Baring investee Yingde Gases lists in Hong Kong
Baring Private Equity Asia investee Yingde Gases Group Co. Ltd., one of China’s largest independent industrial gas suppliers, has listed on the Hong Kong Stock Exchange.
Actis, CDC may sell Swaraj stake to Tata
UK emerging markets investor Actis may reportedly be about to exit its 7.74% investment in India’s Swaraj Mazda.
TheFaceShop - beautiful returns for investors
Affinity Equity Partners has pulled off a highly lucrative exit long rumored by AVCJ sources with its sale of Korean cosmetics investment, TheFaceShop, to Korean strategic buyer LG Household & Health Care Ltd., a division of LG Group.
Carlyle ensures major exit with China Pacific
Carlyle Group-backed China Pacific Life Insurance Co., the Number Three Chinese domestic insurer, is planning to debut on the Hong Kong Stock Exchange with approval from the Chinese government, targeting to raise $3.4 billion, before Christmas 2009.
Hopu dodges loss on Minsheng IPO
Hopu Investment Management, cited as a potential cornerstone investor in the Hong Kong IPO of China Minsheng Banking Corp. until days before the latter’s listing, appears to have dodged a bullet.
7 Days soars on NYSE debut
7 Days Group Holdings Ltd, the Actis and Warburg Pincus-backed discount Chinese hotel chain, listed on the NYSE at close to the top end of its target range, or $11 per share.