Investments
Century Bridge exits from China real estate project
Century Bridge Capital has cashed out of its $125 million joint venture with Jia Heng Real Estate. It is the Dallas-based private equity firm’s first exit from an investment in China. Terms of the exit were not released.
Korean financial plays are not for foreigners
The Woori and Mirae Asset Life Insurance deals are cause for hope, but foreign PE may still find life difficult
Corporates lead India VC into the light
Early-stage funding has been hard to come by in India. Corporate funds plugged the gap but competition is now rising as venture capital matures
India exits: M&A trumps IPO
A new study reveals sharp disparities in preferred private equity exit routes in China and India
Baidu takes off with Qunar
The ample potential of China's online travel industry was reiterated last week when internet search giant Baidu agreed to pay $306 million for majority ownership of venture capital-backed booking site Qunar. It follows the likes of Alibaba and Tencent...
Sequoia bets on India's snack food potential
Indian snack food maker Prakash Snacks has secured its first round of private equity financing from Sequoia Capital, believed to be worth $25-30 million. Financial details were not disclosed, but local media reported that the Silicon Valley growth capital...
GSR Ventures closes fourth fund at $350m
GSR Ventures has closed its fourth fund at $350 million after it was substantially oversubscribed. The firm, which focuses on early-stage technology deals in China, said that existing investors contributed over 80% of the capital.
Temasek reduces holdings in Bank of China, China Construction Bank
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, has reduced its holdings in Bank of China and China Construction Bank in order to scale back on its financial sector exposure, raising around $3.6 billion in the process.
PAI sells Kwik Fit to Japanese conglomerate Itochu
French private equity firm PAI Partners has completed the sale of UK auto parts dealer Kwik Fit to Japanese trading conglomerate Itochu for £637million ($1 billion), which includes the acquisition of £457 million ($733 million) in debt.
Lone Star, Hana extend KEB talks to December
Lone Star will have to wait until December to sell its controlling stake in Korea Exchange Bank to South Korean financial conglomerate Hana Financial for $4.3 billion.
Carlyle sells majority stake in Newgen to PE consortium
The Carlyle Group has sold its majority stake in Chennai-based publishing and data services firm Newgen to a private equity consortium comprising Franklin Templeton Private Equity Strategy, Aureos South Asia Fund and ePlanet Capital. Financial details...
Nestle in talks with Baring-backed Chinese confectionary company
Nestle is negotiating a potential investment in Hsu Fu Chi, a Chinese confectionary company in which Baring Private Equity Asia is a minority shareholder. Singapore-listed Hsu Fu China is China’s largest publicly held confectionary company. It is worth...
PEP-backed Collins Foods seeks to raise $255m through IPO
Collins Foods, the Australian fast-food group owned by Pacific Equity Partners, plans to raise up to A$238 million ($255 million) through an IPO. The firm will offer 81.6 million shares priced at A$2.50-2.92 apiece in what is potentially Australia’s largest...
Bondholders threaten takeover of failed Japanese consumer lender
A&P Financial’s court-mandated takeover of Japan’s Takefuji Corp. could be derailed after bondholders in Takefuji sought to force the consumer lender into liquidation with a view to seeing a better recovery from their investment, Reuters reported.
Bright Food considers Treasury Wine bid - report
Shanghai-based food producer Bright Food Group is considering buying Australia’s Treasury Wine Estates, the brand that was spun off by beer maker Foster’s Group last month, Bloomberg reported.
Nomura to launch India infrastructure fund in September
Nomura Holdings plans to launch its $500 million India-focused $500 infrastructure fund in September, according to Vikas Sharma, the Japanese asset manager's country head for India. The launch date is a couple of months later than originally expected....
SCPE takes 49% stake in Doosan Industrial Vehicle
Standard Chartered Private Equity (SCPE), has taken 49% stake in South Korea’s largest forklift manufacturer Doosan Industrial Vehicle (DIV) for undisclosed sum. Sources indicate the deal is worth about $230 million.
Management, private equity launch takeover bid for China Natural Gas
China Natural Gas, a NASDAQ-listed compressed natural gas provider, plans to go private, backed by a group comprising the company chairman and CEO and Themes Investment Partners. Ji Qinan, the chairman and CEO, has entered into an exclusivity agreement...
IPO exits twice as popular in China as in India – study
Private equity investments in China are twice as likely to result in an IPO exit as investments in India, where M&A remains the preferred route, according to new research published by LGT Capital Partners and INSEAD’s global private equity initiative....
Australia's PE-backed Barminco pulls IPO
Mining contractor Barminco, which is majority-owned by Gresham Private Equity, has pulled out of its $580 million IPO. It is the latest in a string of Australian companies to stall listing plans amid market volatility.
Vogo, Tstobe, MBK participate in South Korea's Woori auction
Three South Korean private equity funds, Vogo Fund, Tstone and MBK Partners, have emerged as potential bidders to purchase the government's 57% controlling stake in Woori Financial Holdings, worth an estimated $6 billion .
DLA Holdings participates in TravelShark fundraising
DLA Holdings, the Singapore-based private equity firm, has invested $5 million in leading online travel network TravelShark. This latest round of financing takes the company’s total fundraising activity to $8 million.
Japanese GPs prepare for a smaller future
Consolidation is in the cards as Japan’s private equity industry focuses on mid-cap plays rather than buyouts
Does Taiwan still like buyouts?
The rejection of a KKR-led MBO of Yageo is yet more disheartening news for Taiwan’s PE community