Investments
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.
GIC backs Canada's Osum Oil Sands
Government of Singapore Investment Corp. (GIC) has participated in a $500 million investment in Osum Oil Sands Corp, which is looking to tap Canada’s oil sands and bitumen resources, through a private placement to a combination of new and existing investors....
Unison buys Asahi Tec from RHJ International
Unison Capital will purchase Asahi Tec, which supplies iron castings to the auto industry, from Belgian private equity firm RHJ International and Tokio Marine & Nichido. The Japanese PE investor has agreed to pay JPY23.9 billion ($310 million) and assume...
Blackstone buys DLF Ackruti Info Parks for $153m
An affiliate of Blackstone Group has acquired a firm that owns a special economic zone in India from DLF, the country’s biggest real estate developer, for INR8.1 billion ($153 million).
Jacob Ballas pumps $38m into Religare Finvest
Jacob Ballas Capital India has given Religare Finvest, the non-banking arm of Indian financial services group Religare Enterprises, a INR2 billion ($37.5 million) cash injection.
Actis invests $71m in India's Endurance Technologies
Emerging markets investor Actis has invested INR3.7 billion ($71 million) in Endurance Technologies, one of India’s largest privately held auto component manufacturers.
PE firm approaches Australia's PaperlinX
An unnamed private equity house has made a takeover bid for listed Australian paper manufacturer PaperlinX.
GSR Ventures leads $30m round for Boston-Power
GSR Ventures has led a $30 million round of investment into lithium-ion battery maker Boston-Power, which recently agreed to relocate its operational headquarters to China.
CIC buys 25% stake in South Africa's Shanduka Group
China Investment Corp. (CIC) has paid ZAR2 billion ($245 million) for a 25% stake in South African company Shanduka Group. The sovereign wealth fund will acquire shares from exiting investors Old Mutual Private Equity and Investec.
IL&FS Private Equity buys IL&FS Energy stake for $44m
IL&FS Private Equity, has invested INR2.3bn ($44 million) for a stake in Indian power generation firm IL&FS Energy Development. The two parties have the same parent company.
GCA to invest $200m in India
San Francisco-based private equity firm Gerken Capital Associates (GCA) has announced that it intends to begin investing in the Indian market with an initial commitment of $200 million.
Warburg Pincus-backed port seeks expansion into Australia
Gangavaram Port, the Warburg Pincus-backed owner of India's deepest seaport, is reportedly in talks to acquire several operational seaports in Australia and Africa.
Saban Capital-backed Tiger Gate creates media JV
Tiger Gate, the pay-TV distributor backed by Saban Capital Group, has partnered with Celestial Pictures to establish media company Celestial Tiger Entertainment (CTE).
Smartphone maker Xiaomi secures $90m in VC funding
Chinese smartphone startup Xiaomi Technology has raised $90 million in funding, which values the company at $1 billion. Existing investors Morningside Technologies, Qiming Ventures and IDG Ventures participated in the financing round as well as new participants...
Yahoo studies part-exit from its Asian assets
Yahoo is considering the sale of a substantial chunk of its 40% interest in Chinese e-commerce company Alibaba Group as well as exiting its 35% holding in Yahoo Japan. The value of the transaction would reportedly be $17-18 billion, allowing the US internet...
TPG to take 20% stake in Shriram Transport Finance
TPG Capital will hold a 20% stake in Shriram Transport Finance once the Indian company merges with its unlisted parent and largest shareholder Shriram Holdings Madras. The US private equity firm currently owns 49% of Shriram Holdings and the merger with...
CVC, Johor win board backing for Malaysian fast-food buyout
A takeover offer from CVC Capital Partners and Malaysian state investment arm Johor Corp. for fast-food chains QSR Brands and KFC Holdings has won approval from the companies’ respective boards. The consortium must now put their bid before shareholders,...
MediaWorks is latest Oz debt-to-equity target
The phenomenon is known as “loan to own.” Investors buy up companies’ debt on the secondary market and negotiate with the boards to secure what are in effect controlling positions.
Saratoga bets on Indonesian energy
Overseas private equity funds often attribute Indonesia’s rising-star status in Asia to its explosive consumer growth story. Many domestic players, however, have gravitated toward resource plays, and energy in particular.