Investments

PE-backed Bharti Infratel set for IPO next month – report

Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, is expected to launch its $900 million IPO next month. The intended flotation – which has been mooted for more than a year – will be the country’s largest in two years...

Fosun gets 20% stake in Taiwan bakery store

Fosun has invested NT$360 million ($12.3 million) to acquire a 20% stake in Taiwan’s Vigor Kobo, a bakery chain that produces traditional cakes and pastries. The deal is said to represent the first Chinese conglomerate's first foray into Taiwan’s...

IDG-Accel China in take-private bid for US-listed Memsic

IDG-Accel China has submitted a takeover bid for NASDAQ-listed Memsic that values the semiconductor manufacturer at $96.8 million. The prospective investor would like to work with Yang Zhao, Memsic’s founder and CEO, to formulate a definitive proposal...

CDIB Capital invests in US-based Smith-Cooper

CDIB Capital, the overseas investment arm of China Development Financial Holding Corporation, has invested in Smith-Cooper International, a US-based manufacturer of pipe, valves and fittings. Blue Point Capital Partners also participated in the funding...

Everstone, ICICI invest $23.5m in Sohan Lal Commodity

Everstone Capital and ICICI Bank's Emerging India Fund (EIF) have jointly invested INR1.3 billion ($23.5 million) in Sohan Lal Commodity Management as part of a Series C round of funding. The two investors now own stakes of 25.55% and 6.93%, respectively.

VCs channel $25m into China’s Innovent Biologics

Innovent Biologics, a China-based manufacturer of monoclonal antibodies, has raised $25 million in Series B financing from Lilly Asia Ventures, the VC arm of global pharmaceutical company Eli Lilly, and existing investors Fidelity Biosciences and Fidelity...

Malaysia’s Ekuinas wants Icon Offshore to list by 2014

Ekuinas, the Malaysia sovereign wealth fund, plans to list its oil and gas services unit, Icon Offshore, within three years. Abdul Rahman Ahmad, the Icon’s CEO, said the company was already eligible for an IPO but they want to wait until earnings justify...

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Auctions: The new normal

Private equity firms love selling assets via auction but hate buying them through such channels. As Asian company owners become more sophisticated, bidding contests for large assets are becoming more frequent.

NewQuest to invest $140m in India

Secondaries specialist NewQuest Capital Partners expects to invest about $140 million in India - almost one third of its $400 million NewQuest Asian Fund I.

Australia’s PEP targets $3.6b for Fund IV

Pacific Equity Partners (PEP) is targeting up to A$3.5 billion ($3.6 billion) for its fifth fund, including A$2 billion of core equity and a further $1-1.5 billion earmarked for a co-investment pool.

Billabong director explores buyout options

Billabong shares spiked 17% during Monday morning trading in response to the Australian surfwear company announcing that one of its directors was looking at a possible leveraged buyout. TPG Capital and Bain Capital both submitted bids of A$694 million...

Carlyle, Seven Group plan Coates Hire sale

The Carlyle Group and Australia's Seven Group are planning to sell their stakes in Australian equipment rental company Coates Hire. The news comes after the pair failed to proceed with an A$800 million ($831 million) IPO of the company earlier this year.