Investments
Lone Star has six months to reduce KEB stake
Lone Star may have no more than six months to reduce its stake in Korea Exchange Bank (KEB) to 10% or lower after Korea’s Financial Services Commission said Monday that it had begun the process of ordering a divestment. The move comes in response to a...
PE-backed Technovator International to list in Hong Kong
Technovator International, China’s leading energy management systems company, is seeking to raise up to HK$146 million ($18.7 million) through a Hong Kong IPO. The company is controlled by Shanghai-listed Tsinghua Tongfang, which is part-owned by the...
Tsing Capital backs solar panel maker Sunpreme
Tsing Capital has participated in a $50 million round of financing for existing portfolio company Sunpreme, a Silicon Valley-based solar cell manufacturer. The round was led by International Finance Corp. (IFC), the investment arm of the World Bank, and...
Saban Capital Group takes 5% stake in Media Nusantara
Saban Capital Group, the Los Angeles-based private equity firm controlled by billionaire Haim Saban, has purchased a 5% stake in PT Media Nusantara Citra from PT Global Mediacom for INR692 billion ($78.2 million). Saban Capital, which is investing through...
Blackstone buys NZ Burger King franchise from Anchorage
The Blackstone Group has agreed to buy Antares Restaurant Group, which operates the Burger King franchise in New Zealand, from Anchorage Capital Partners. Terms of the transaction were not disclosed.
Archer sells Rebel to Super Retail Group
Archer Capital has exited Rebel Group, Australia’s largest sporting goods chain, to camping and auto parts store owner Super Retail Group for A$610 million ($630 million). The transaction is expected to close on October 31.
NVP India broadens focus to include into seed, late-stage deals
Norwest Venture Partners (NVP) India is expanding its investment strategy to include seed and late-stage transactions, having previously focused on venture and growth deals. The firm is also broadening its sector coverage to include healthcare, education...
Carlyle-led group buys into Asian cinema digital server provider
A consortium led by The Carlyle Group has purchased an 80% stake in GDC Technology, Asia’s largest cinema digital server provider. The investment was led by the $1 billion Carlyle Asia Growth Partners IV and the other participants included Yunfeng Capital,...
SEC approves Volcker rule as market watchers express concerns
Concerns are being raised that the Volcker rule, which limits bank exposure to asset classes such as a private equity, will be postponed or weakened by lobbyists and that some forms of proprietary trading will be exempted completely. The rule was approved...
Tokio Marine targets $903m Showa Yakuhin Kako sale - report
Tokio Marine capital has launched the sales process for its 50% stake in Japanese drug producer Showa Yakuhin Kako, targeting up to JPY70 billion ($905 million), according to Reuters.
Carlyle, Advent to launch joint bid for Tech Mahindra stake
The Carlyle Group and Advent International are expected to launch a joint bid for British Telecom’s 23.2% stake in Tech Mahindra, India’s fifth-largest IT services firm. The deal could be worth $500 million.
Xunlei backs out of IPO due to market volatility
Xunlei, the Chinese software company backed by Morningside Technologies, IDG Ventures and Ceyuan Funds, has shelved plans for a $200 million IPO on NASDAQ.
Aureos sells Thai wastewater purification firm ECM
The Aureos South East Asia Fund has exited its stake in Thai industrial wastewater purification firm Environmental Care Management (ECM) to an undisclosed consortium of investors for $3.7 million.
Standard Chartered backs South Korea's Daelim Motor
Standard Chartered Private Equity (SCPE) has agreed to invest $61 million in Daelim Motor, South Korea’s leading motorcycle and auto parts manufacturer. The private equity firm will take a stake of unspecified size by subscribing to new shares in the...
Asia buyouts struggle as banks clamp down on lending
Buyout deals in Asia are becoming more difficult as banks hold back on lending. Rising capital costs have made lenders wary of the risks tied to mispricing a loan, leaving private equity firms to increase the cash portion of buyouts.
Japan's secondary funds look to consolidate
The cross-ownership of Japanese companies creates rich pickings for secondaries players looking to gather up and exit
Third Quarter 2011: Venture capital deals steal the spotlight as buyouts wane
Third quarter analysis: Early-stage deals gain traction in Asia; mixed messages on China fundraising; weak public markets see trade and secondary sales thrive
BC Partners not ruling out an IPO for Fitness First
UK-based BC Partners still plans to list gym chain Fitness First in Asia if a buyer is not found, according to sources familiar with the situation. This comes one week after the private equity investor called off Fitness First’s planned IPO in Singapore...
Japan's Murata Manufacturing acquires VTI Technologies
Private equity fund EQT III will divest its 100% stake in Finish motion sensor parts maker VTI Technologies to Japanese electronic parts maker Murata Manufacturing for JPY20 billion ($261 million).
Bain set to acquire Japan's Skylark for $3.4b
Bain Capital is finally set to acquire Japanese restaurant chain operator Skylark from Nomura Holdings for approximately JPY260 billion ($3.4 billion) including debt, after more than six months of delays.
Khazanah's Parkway tipped to buy Sterling Hospitals from Actis
Parkway Holdings, the Singapore-based hospital operator owned by Khazanah Nasional, is the favored bidder for Actis’ Sterling Hospitals. The deal, which could be worth around INR7 billion ($142 million), would allow Parkway to enter India’s $65 billion...
Mekong Capital exits hotel decorator AA Corporation
Mekong Capital, a Vietnam-focused private equity fund, has exited its 100% stake in luxury furniture maker and hotel decorator AA Corporation to an undisclosed investment fund. It has achieved a gross return multiple of 2x and a gross IRR of approximately...
Lone Star Korea's former head Paul Yoo files court appeal
Paul Yoo, former head of Lone Star in Korea, has appealed to Korea’s Supreme Court over his conviction for manipulating the stock price of Korea Exchange Bank (KEB) in 2003, Dow Jones reported.
CIC's Central Huijin boosts China bank stakes
Central Huijin Investment, the unit of China Investment Corp. (CIC) responsible for holdings in the country’s major state-owned banks, has been buying shares in these lenders to boost valuations. It took similar action in September 2008 as credit markets...