Investments
Arcapita seeks Polygel exit - sources
Bahrain-based investment company Arcapita Private Equity is planning to sell its 8% stake in Polygel Industries, an Indian manufacturer of cable gels.
Catalyst could sell Aperio for $256m by February
Catalyst Investment Managers could complete the sale of its packaging business Aperio Group to a trade buyer by February, according to a source.
Indian medical equipment company seeks PE funding
Sutures India, a Bangalore-based medical equipment manufacturer is seeking $25-40 million from private equity investors. The funds would be used for expansion and other purposes, but as yet no mandates have been given investment banks.
CLSA Capital Partners backs Chinese spandex producer
CLSA Capital Partners has purchased a minority stake in Artex Fiber, one of China’s largest spandex producers. The RMB250 million ($39.5 million) investment was made through ARIA Investment Partners III, a $333 million vehicle that focuses on growth and...
PE-backed Indian power companies plan solar plants
Adani Group, whose publicly listed power subsidiary is backed by 3i Group, has commissioned India’s largest solar power project in what is its first foray into the renewable energy sector. The project at Kutch in Gujarat has an initial capacity of 40...
Sabre sells Australia's Fudge hair care to PZ Cussons
Sabre has sold Australia’s Fudge hair care brand to PZ Cussons, the company behind Imperial Leather Soap, for GBP25.5 million ($39.5 million). The acquisition is intended to increase PZ Cussons’ exposure to the male grooming sector. Its product portfolio...
Jordan completes exit from Chinese mining machinery firm
The Jordan Company, a mid-market private equity firm, has concluded the sale of its holding in Chinese coal mining equipment manufacturer International Mining Machinery (IMM) to Joy Global. Regulatory approval was granted in December to a deal struck...
Sequoia, Baring in talks to sell Coastal Projects
India’s Coastal Projects, which is backed by Sequoia Capital and Baring Private Equity Asia among others, is reportedly in talks with German firm Hochtief about a possible sale of the business.
Carlyle shortlisted for Brambles Recall unit - report
The Carlyle Group has reportedly been shortlisted as a potential suitor for Recall, the document management business put on the block by Australia’s Brambles last spring.
TFG Radiant to increase holding in US solar panel maker
TFG Radiant, a joint venture between Chinese property developer Radiant Group and Singapore-based investment company Tertius Financial Group, will increase its stake in Ascent Solar Technologies. The purchase will take its holding in the company to approximately...
Indian regulator unveils plans to help promoters reduce holdings
The Securities and Exchange Board of India (SEBI) has released proposals designed to make it easier for entrepreneurs or promoters to lower their stakes in companies in order to meet minimum public shareholding limits. Share buybacks via tender offers...
GA, ChrysCapital-backed Hexaware valued at $700m
General Atlantic (GA) and ChrysCapital have seen Hexaware Technologies, the IT services provider they put on the block several months ago, achieve a speculative valuation of $700 million.
Kotak Realty reaps 25% return on Noida IT park sale
Kotak Realty Fund, the properties arm of Kotak Mahindra Bank, has reaped an IRR of less than 30% on the sale of its interest in a Noida-based information technology park.
Navis-backed EKH bolts on Chinese depot operator
Eng Kong Holdings (EKH), the Singaporean container-services company owned by Navis Capital Partners, has acquired an 85% stake in Best China Development for S$14.3 million ($11.1 million).
Mayban Ventures to invest $399m over next five years
Mayban Ventures, the private equity arm of Maybank, Malaysia’s largest financial group, has announced plans to channel up to RM250 million ($399 million) into Asian deals over the next five years.
China infrastructure: PE to the rescue?
The era of easy credit in China is over, leaving companies without the means to service debts tied to infrastructure projects. Foreign PE investors are looking for ways to capitalize on the opportunity.
SBI sells VSN for $117m
Japanese private equity firm SBI Capital has sold its Tokyo-based staffing firm VSN to Adecco, the largest staffing group in the world, for an enterprise value of EUR90 million ($116.8 million).
Red Fort to raise $500m for second real estate fund
Red Fort Capital, an India-focused real estate investor, has announced it is targeting INR10-15 billion ($500 million) for its latest property fund.
Alibaba hires US lobby group for potential Yahoo bid
Alibaba Group has hired Washington lobbying firm Duberstein Group in what is seen as evidence that the company is considering a bid for all of Yahoo if negotiations to buy back the US firm’s Asian assets fail.
ICICI Ventures exits Prize Petroleum stake to HPCL
ICICI Ventures has exited its stake in Prize Petroleum to Hindustan Petroleum Corporation (HPCL). The private equity firm owns 10% of Prize, with ICICI Bank and HDFC holding 35% and 5%, respectively. Each party is selling up, allowing HPCL, which already...
PE-backed buyouts of US-listed Chinese firms set to continue
Private equity-backed management buyouts of US-listed Chinese companies are expected to continue in 2012 despite recent pullbacks in the Hong Kong and mainland markets eroding the potential valuation arbitrage. With the announcement of dedicated privatization...
General Atlantic invests $108m in Mu Sigma
General Atlantic (GA) has led a $108 million round for India-focused analytics services provider Mu Sigma, in what may be the largest private equity deal in this segment in an emerging market.
TPG loses out on Takefuji deal to J Trust
TPG Capital lost out on a deal to invest into Japanese consumer lender Takefuji, with real estate and financial holding company J Trust instead injecting a reported JPY25.2 billion ($325 million) into the firm.
Carlyle, Blackstone in separate talks over Reliance Infratel
The Carlyle Group and The Blackstone Group are in separate talks with Reliance Communications concerning an investment in its telecom tower unit. A deal for Reliance Infratel could come in February or March, subject to agreements on its valuation.