Investments
Asahi accuses Independent Liquor of 'channel stuffing'
Asahi claims that Pacific Equity Partners (PEP) and Unitas Capital resorted to “channel stuffing” – where companies supply retailers with more product than they are capable of selling to boost sales figures – to artificially inflate Independent Liquor’s...
Australia's AMP Capital invests $100m in US wind energy project
AMP Capital has injected $100 million in Capistrano Wind Partners, a large-scale wind energy project developer in North America, alongside a consortium of infrastructure investors. AMP made the commitment on behalf of a large Australian superannuation...
Zhongpin delays take-private deal, drops go-shop provision
Zhongpin, the NASDAQ-listed Chinese pork producer that is subject to a PE-backed management buyout bid, has amended the deal to allow more time for completion and prevent directors from sourcing competing offers. The valuation of $502 million is unchanged....
Marck Biosciences gets $8.3m from Tata healthcare fund
Tata Capital Healthcare Fund has invested INR450 million ($8.3 million) for a 13% stake in Ahmedabad-based drug maker Marck Biosciences. Previous plans for an IPO have now been shelved.
IFC to invest $24m in India's Ratnakar Bank
International Finance Corporation (IFC), the investment arm of the World Bank, plans to invest up to INR1.3 billion ($24 million) in India’s Ratnakar Bank. The commitment, which would be structured as a preferential allotment, complies with IFC’s strategy...
Macquarie, SBI to buy majority stake in GMR Jadcherla Expressways
Macquarie SBI Infrastructure Fund (MSIF) has agreed to buy a 74% stake in GMR Jadcherla Expressways from Bangalore-based infrastructure major GMR Group.
Reserve Bank of Australia sells subsidiary to PE-backed Innovia
The Reserve Bank of Australia (RBA) is to sell its 50% stake in Securency International, a company which produces polymer-based print material for banknotes, to Innovia Films, a UK packaging manufacturer backed by Arle Capital Partners. Innovia already...
3SBio board agrees to CITIC PE-backed buyout
The board of NASDAQ-listed Chinese biotechnology firm 3SBio has agreed to a privatization bid tabled by Jing Lou, its CEO, and CITIC Private Equity. The deal values the company at $340 million.
Asahi, PE firms set for legal battle over Independent Liquor sale - update
Japanese beverage giant Asahi has taken legal action against private equity firms Pacific Equity Partners (PEP) and Unitas Capital over its acquisition of New Zealand firm Independent Liquor in 2011 for NZ$1.5 billion ($1.5 billion).
CLSA exits Japan's Everlife for $285m
CLSA Japan has sold its 100% stake in Japanese direct marketing company Everlife to Korea's LG Household and Health Care for JPY25.8 billion ($285 million).
Blackstone invests in India business park – report
The Blackstone Group has reportedly joined two other companies in purchasing a business park in South India for INR19.6 billion ($367 million).
Kazakh sovereign fund buys stake in domestic zinc producer
Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, has bought a 29% stake in Kazzinc, a domestic zinc producer controlled by Glencore.
Paine-backed Costa to buy Adelaide Mushrooms
The Costa Group, an Australian fresh produce company backed by global private equity firm Paine & Partners, is to acquire Adelaide Mushrooms. Financial terms of the transaction were not disclosed.
Unilazer Ventures invests in Valyoo Technologies
Unilazer Ventures has joined IDG Ventures in investing INR530 million ($10 million) in Delhi-based Valyoo Technologies, which owns e-commerce sites LensKart, BagsKart, WatchKart and JewelKart.
Creador backs Indian home loans provider
Creador has acquired a 9.9% stake in Repco Home Finance (RHF), an Indian housing finance provider owned by Repco Bank, for INR724 million ($13.7 million). It is the India- and Southeast Asia-focused GP’s second deal in a fortnight and leaves the firm’s...
Macquarie targets $1b fund for South, Southeast Asia - report
Macquarie Capital is said to be targeting $1.1 billion for its new fund focusing on South and Southeast Asia.
CITIC Capital Japan-backed Tri-Wall acquires DS Smith unit
Tri-Wall, a Hong Kong-headquartered heavy-duty cardboard manufacturer backed by CITIC Capital Partners, has acquired the UK Tri-Wall unit of British packaging firm D.S. Smith.
PAG in partial exit from Haitong Securities
PAG has made a partial exit from Haitong Securities, 10 months after participating in the Chinese brokerage’s IPO as a cornerstone investor.
Vogo, KTB-backed LG Siltron withdraws IPO
LG Siltron, a silicon wafer manufacturer owned by LG Group, Vogo Investment and KTB Private Equity, has abandoned plans to raise at least $275 million through an IPO. The company won listing approval on October 31 but decided not to proceed because domestic...
Q&A: Tata Opportunities Fund's Mukund Rajan
India’s private equity industry has suffered criticism from disappointed LPs in the last couple of years. Mukund Rajan, managing partner of Tata Opportunities Fund, identifies a few positives
Hahn & Co. in $130m bankruptcy buyout
Sourcing deals through South Korea's bankruptcy courts is notoriously complicated, but even by these standards Korea Line presented a challenge. The sale process was officially launched late afternoon on December 21, the Friday before what most people...
AGCA teams up with HarbourVest, Axiom to buy Credit Suisse PE assets
Asia Growth Capital Advisors (AGCA), which spun out from Credit Suisse’s private equity division in 2010, has acquired a portfolio of PE investments from its former parent, supported by HarbourVest Partners and Axiom Asia. Prior to the transaction, AGCA...
Headland invests in Malaysian snack foods brand
Headland Capital Partners has invested in Mamee-Double Decker Barhad, one of Malaysia's largest food and beverage firms. The details of the transaction were not disclosed.
Australia's Advent sees 2.5x return on Locker investment
Advent Private Capital has sold metal products manufacturer Locker Group Holdings to US-based Valmont Industries, generating a 2.5x money multiple on its investment. According to AVCJ Research, the Australian GP acquired an 80% stake in Locker just over...