Investments
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...
Future Ventures in talks to sell Indian apparel stake to GA – report
Future Ventures India is reportedly in talks with General Atlantic to sell its minority stake in apparel maker AND Designs India for around INR1.5 billion ($23 million)
Chinese mobile retailer Xiaomi tipped for new round
Xiaomi, a Chinese smart phone brand founded by angel investor Lei Jun, is finalizing a new round of funding that is expected to value the company at $10 billion.
Oaktree, Centerbridge make renewed Billabong refinancing offer
Oaktree Capital and Centerbridge Partners have made a fresh recapitalization offer of A$325 million ($292 million) for ailing Australian surfwear brand Billabong to compete with a revised proposal put forward by an Altamont Capital Partners-led consortium...
VC-backed Montage Technology targets $115m US IPO
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, is seeking to raise up to $115 million through a NASDAQ IPO. It is set to become only the second PE-invested Chinese company to go public...
Longreach completes precision drilling carve-out from Hitachi
North Asia mid-market buyout firm The Longreach Group has agreed to buy precision drilling business Hitachi Via Mechanics (HVM) from Japanese conglomerate Hitachi. It is said to be the first time Hitachi has divested a sizable asset to private equity...
GIC to acquire Blackstone stake in UK office complex - report
The Blackstone Group will reportedly sell its stake in London’s Broadgate complex to GIC Private for more than GBP1.7 billion pounds ($2.7 billion) in one of Europe’s largest office deals.
Phillip Capital takes stake in Indonesian equipment finance business
Singapore-based Phillip Capital Group has acquired a 9.71% stake in Intan Baruprana Finance (IBF), the financing arm of Indonesian heavy equipment distributor Intraco Penta, through a rights issue. Transaction value was not disclosed.
Baring Asia to invest in PE-backed Hexaware - report
Baring Private Equity Asia (BAPE) is said to be in talks to back Hexaware Technologies, with a view to taking a majority stake in the Indian software company.
Cathay Capital invests $20m in China cold chain company
Cathay Capital Private Equity has agreed to invest RMB120 million ($19.6 million) in Chinese refrigerated transport company Shanghai Zhengming Modern Logistics (ZM Logistics). The size of the stake was not disclosed.
IMM, Mirae forge POSCO steel investment
POSCO Specialty Steel (PSS) CAME into being 1997 when steelmaker POSCO bought most of manufacturing facilities of Sammi Specialty Steel, one of a host of Korean corporates struggling to service its debts in the midst of a credit crisis.
Bain exits Domino's Japan, retains slice
The pizza delivery market in Japan is very different from that of the US. Rather than a budget takeout option, pizza is treated as something of a luxury and customers are willing to pay a premium for quality. Japanese tastes differ too. In addition to...
Northstar's Singapore buyout starts a new ERA
Singapore property developers sold 481 new homes in July, about one quarter of the previous month's total. It was the predictable result of real estate cooling measures introduced at the end of June that restrict monthly mortgage payments to no more than...
PE firms bid for Fortis’ Quality Healthcare - report
The Carlyle Group, Advent International and Mitsui and Co. are among the 10 bidders for Hong Kong’s Quality Healthcare Medical Services, which is being sold by PE-backed Fortis Healthcare.
AMP Capital exits Australia care home stake to Singapore’s G.K. Goh
AMP Capital has agreed to sell a 47.62% stake in Domain Principal Group (DPG), a leading Australian provider of residential aged care services, to Singapore-listed G.K. Goh Holdings (GKGH) for A$136.7 million ($123.6 million).
Blackstone offers $322m for property developer Tysan
The Blackstone Group has offered to buy Hong Kong-listed real estate developer Tysan Holdings for approximately HK$2.5 billion ($322.5 million)
CITIC Capital RMB fund backs China’s SF Express
A consortium comprising CITIC Capital, Suzhou-based Oriza Holdings and China Merchants Group has bought a 25% stake in China’s SF Express, a Shenzhen-headquartered express delivery services provider. Financial details were not disclosed.
IDG leads Series A for Chinese online game developer Ejoy
IDG Capital Partners has led in a Series A round of funding for Ejoy, a Chinese online gaming developer formed by former executives at NetEase Group. Financial terms were not disclosed but this latest investment brings the total capital raised by Ejoy...
Unitas, CCMP set for 3.5x return as Atlas Copco buys Edwards for $1.6b
Unitas Capital will make up to 3.5x its money on Edwards Group after Sweden’s Atlas Copco agreed to buy the specialist vacuum products developer for approximately $1.6 billion, including debt. Unitas and CCMP Capital have owned the business since 2007...
IDFC-backed Green Infra acquires TVS Energy
IDFC Private Equity-backed Indian independent power producer Green Infra (GIL) will buy a 90.46% stake in TVS Energy for an undisclosed amount.
Fidelity, F&H invest in Chinese video site Mtime
Fidelity Growth Partners Asia and F&H Fund Management, a China and Southeast Asia-focused investor, have provided a new round of funding for Mtime.com, a Chinese movie web portal. Tiger Global is also an investor in the company.
China Zenith Capital invests $16m in Qingdao Happy View Media
China Zenith Capital has committed RMB100 million ($16 million) in Series A funding to Qiangdao Happy View Media, which provides digital services to the hotel and leisure industry. The investment was channeled through its government-backed investment...
Armstrong commits $30m to Thai solar, biogas projects
Southeast Asian cleantech investor Armstrong Asset Management has committed $30 million to solar and biogas projects being developed by Thailand’s Annex Power. The capital will be used to expand the company’s engineering, procurement and construction...
Seven PE firms, strategics bid for Hong Kong’s ParknShop – report
Seven private equity and strategic investors have reportedly submitted initial offers for ParknShop, the Hong Kong supermarket chain owned by Hutchison Whampoa. The business, which is ultimately controlled by Li Ka-shing, Asia’s wealthiest individual,...