Investments
Bank of America struggles to find buyers for CCB stake
Bank of America is struggling to find buyers for its 10% stake in China Construction Bank as investors are wary of forthcoming rights issues, share sales and new listings by Chinese lenders.
CAS Capital to exits controlling stake in Japanese restaurant chain
CAS Capital will sell controlling stake in Japanese restaurant chain Kazokutei to H2O Retailing, a listed holding company of Hanshin and Hankyu Department Store Groups, through a tender offer buyout.
SEAF commits capital to Indian cotton seed processor
Small Enterprise Assistance Funds (SEAF), the Washington-based private equity firm, has made an investment in Abhay Cotex Private Limited (ACPL), an Indian firm that processes cotton seeds for use in animal feed.
CHAMP-backed Blue Star bail-out approved by bondholders
Bondholders in troubled New Zealand printing firm Blue Star have backed a $25 million restructuring package supported by CHAMP Private Equity. At a meeting of around 200 bondholders in Auckland, 76.9% voted in favor of the proposal, surpassing the 75%...
Carlyle, Unison sell nearly half of Covalent for $450m
The Carlyle Group and Unison Capital has sold part of Covalent Materials, a Japanese silicon wafer and ceramics manufacturer to Taiwanese solar wafer maker Sino-American Silicon Products (SAS). The deal size has not been disclosed, but it is thought to...
SAIF, MakeMyTrip back Indian travel search engine
Indian travel search engine iXiGO.com has received $18.5 million in funding from SAIF Partners and online travel company MakeMyTrip. The two investors purchased stock in iXiGO’s parent, Le Travenues Technology, and also received new shares.
Matrix commits $9.9m to Kids Clinic India's Series A round
Matrix Partners India has committed INR450 million ($9.9 million) as the sole institutional investor in Kids Clinic India Private Limited, a Bangalore-based provider of maternity and infant care services. The immediate goal is to enlarge the company’s...
TPG eyes controlling stake in Indonesian tire manufacturer
US buyout firm TPG Capital has emerged as a potential bidder for Indonesian tire manufacturer Multistrada Arah Sarana, Reuters reported. It faces competition from South Korea's Hankook Tire and Japan’s Yokohama Rubber.
India regulation: SEBI takes a stand
India’s regulatory body has released a draft regulations that may change the face of India’s private equity and venture capital industry as we know it
New China Life targets $4b IPO
New China Life Insurance, which is part-owned by several private equity interests, plans to raise up to $4 billion through a dual IPO in Hong Kong and Shanghai.
CVC-backed Nine Entertainment expects modest profit growth in coming year
CVC-owned Nine Entertainment posted EBITDA of A$414.9 million for the fiscal year ending June, up 16.4% year-on-year, but it forecasts modest growth this year – a reflection of the challenges facing most Western media companies that rely heavily on...
Higashiyama Film accepts CITIC Capital Japan's takeover bid
CITIC Capital Partners Japan announced that its tender offer for Higashiyama Film, a Nagoya-based industrial use film maker special film maker, has been accepted.
Temasek forms JV with South Africa's Oppenheimer family
Singapore’s sovereign wealth fund Temasek Holdings will form a joint venture private equity fund with South Africa’s E. Oppenheimer & Son International. James Teeger, group managing director at E. Oppenheimer, told Reuters that each party would make...
Mandolin Fund ups stake in Sino-Forest to 18%
Singapore-based Mandolin Fund now owns 18% of Sino-Forest, having increased its stake in the scandal-hit forestry company for the third time in four weeks.
Carlyle-backed New Century Hotel Group plans IPO
China’s New Century Hotel Group, one of The Carlyle Group’s portfolio companies, plans a $400 million IPO in Hong Kong in September, The Wall Street Journal reported, citing people familiar with the situation. Deutsche Bank and Morgan Stanley have...
Asahi to buy Independent Liquor for $1.3b – report
Asahi Group Holdings is set to reach an agreement this week on the JPY100 billion ($1.3 billion) purchase of Independent Liquor, which is owned by Pacific Equity Partners (PEP) and Unitas Capital, The Nikkei reported.
MediAngels seeks $10m private equity investment
MediAngels, an India-based online medical consultation platform, is in talks with private equity funds over a $10 million investment, The Times of India reported. “We are in deep talks with four of the biggest US-based PE funds," said Dr. Debraj Shome,...
India Innovation Fund makes second investment
India Innovation Fund (IIF) has closed its second investment, committing INR100 million to Bangalore-based digital media technology start-up Sure-Waves MediaTech. Accel Partners, another early stage investor, partnered IIF in the deal, The Economic Times...
Unison Capital, CJ Cheiljedang food additives bid fails
Unison Capital and CJ Cheiljedang Corp. have failed in their joint bid for Hayashibara, a Japanese food additives manufacturer. CJ Cheiljedang said in a statement to the Korea Stock Exchange that it had not been chosen as a preferred bidder.
KKR makes second investment into Avantha Power & Infrastructure
KKR has strengthened its ties to India’s Avantha Power & Infrastructure (APIL), co-investing an additional $120 million into the company less than a year after committing $50 million.
Update: Revived WestBridge reaches $500m fund target
WestBridge Capital Partners, the private equity fund relaunched by Sequoia Capital India’s founders, has reached the $500 million target for its new vehicle, the WestBridge Crossover Fund, within six months. According to the firm, the fund has been...
PEP, Unitas tipped to sell Independent Liquor to Asahi
Asahi Group Holdings has emerged as the leading candidate to purchase New Zealand drinks maker Independent Liquor, which is currently owned by Pacific Equity Partners and Unitas Capital. The deal could be worth up to NZ$1.4 billion ($1.2 billion), Dow...
Terra Firma to open Beijing office
European private equity firm Terra Firma has received the regulatory green light to open a representative office in Beijing, marking its foray into Asia.
Hony invests $100m in Chinese glass maker
Hony Capital has agreed to pay $100 million for a 60% stake in China Yaohua Glass Group, as part of its ongoing role in consolidating the glass-making industry.