Investments
Perpetual brands KKR's $1.73 billion takeover bid as low, yet considers deal
Australian investment group Perpetual Ltd. has branded the $1.73 billion takeover offer by Kohlberg Kravis Roberts & Co. (KKR) as too low, but has said that it will continue negotiations in possible hopes of eliciting a higher bid.
SGX, ASX agree Asia's first ever stock market merger
The Singapore Stock Exchange (SGX) and Australian Securities Exchange (ASX) have agreed to Asia Pacific's first-ever merger of stock exchanges, with a friendly takeover offer from SGX that values ASX at A$8.4 billion ($8.2 billion).
ARC China invests over $4 million in English education provider Guanya Education
ARC China, the Shanghai-based investment management group, has invested over $4 million in Guanya Education Group, a leading children’s English education company in northeast China.
Blackstone and Warburg Pincus-backed Kosmos Energy receives $5 billion bid from CNOOC
China National Offshore Oil Corp. (CNOOC), China’s third largest oil SOE, and Ghana National Petroleum Corp. have jointly bid in cash to acquire the Ghanaian assets of Kosmos Energy, whose Dallas-based parent is controlled by Warburg Pincus and the Blackstone...
Advent weighs buying QB barbershop chain from ORIX
ORIX Corp., the Japanese leasing and financial conglomerate, is reportedly selling QB Net Co., the operator of a discount barbershop chain, in a deal that could be worth JPY10 billion ($123 million), with PE firm Advent International as a potential buyer,...
VC-backed PRC tutoring firm TAL Education makes strong NYSE debut
Tiger Global Management- and KTB Ventures-backed TAL Education Group, a Chinese tutoring firm, raised $120 million from its debut on the New York Stock Exchange, outperforming expectations as it closed 50% higher than its IPO listing price.
Archer Capital-owned DairyWest buys Brownes from Fonterra
Archer Capital-owned Australian dairy player DairyWest is set to acquire Perth-based dairy producer Brownes from sector giant Fonterra for an undisclosed price.
CIC benefits as AIA HK IPO prices high
China Investment Corporation (CIC) stands to benefit as a key investor as insurer AIA, the Asian arm of troubled American International Group (AIG), priced at the top of its range, valuing the company at some $30.5 billion, amid heavy investor demand....
MSPE Sihuan Pharma IPO looks to strong healthcare exit
Morgan Stanley Private Equity investee Sihuan Pharmaceutical is on track to raise $741 million, potentially rising to $850 million if a greenshoe option is exercised, after pricing its IPO high at 26.7x next year's earnings, in the world's second largest...
Japan's Next Capital Partners gets 4x return from KASCO exit
Next Capital Partners (NCP), the Japan-based mid-market control turnaround manager, will sell portfolio company KASCO Co., Ltd, a Japanese golf-related equipment manufacturer, to Mamiya-OP Company Ltd. (Mamiya), a listed Japanese manufacturer of electronic...
Temasek divests 9.6% stake in Hana Financial Group
Singaporean SWF Temasek Holdings has fully exited its 9.6% stake in Korean banking major Hana Financial Group for $607 million on the public market, at an approximate 3.5% discount to Hana’s last closing price.
Korea Advanced Materials Fund raises $36 million from venture investors
Korea Advanced Materials Fund has received $35.9 million from international chemicals group Solvay, Korea Venture Investment Corp (KVIC) and AJU IB Investment, a Korean VC company formerly known as Kibo Technology.
Japan's Orix to enter US asset management via buyout of MIG Holdings
Orix Corp., the Japanese financial conglomerate, will take a majority stake in MIG Holdings, the parent of $11.7 billion US hedge fund and alternative assets management firm Mariner Investment Group, in a deal said to be worth some $184.6 million.
Nippon Mirai buys Asahi Tec Environmental Solutions from parent
Nippon Mirai Capital, the Japanese SME-focused private equity firm, will acquire 100% of Asahi Tec Environmental Solutions Company (ATES) from its parent Asahi Tec Corporation, a major manufacturer of iron casting products, for an undisclosed amount via...
Morgan Stanley Realty Fund poised to gain 33% from Oberoi Realty listing
Morgan Stanley Real Estate Fund investee, Mumbai-based Oberoi Realty, has debuted onto the public market at a 7.5% premium to its issue price - a strong start for the company valued at INR9,586 crore ($2.1 billion) by the day's end Wednesday.
PEP's Hoyts cinema group acquires AMC
Pacific Equity Partners (PEP)-owned Australia cinema group Hoyts is to acquire rival group AMC for an undisclosed price – a development that comes two months after PEP announced the postponement of Hoyts’ IPO due to volatile market conditions.
Wen out of New Horizon as Sihuan Pharma pre-IPO deal nixed
Leading Chinese PE firm New Horizon has confirmed that its co-founder Winston Wen Yunsong, son of PRC Premier Wen Jiabao, left the company at an unspecified date and has been working since last year for an arm of China Aerospace Science & Technology Corp.,...
Mekong Capital partially exits restaurant owner Golden Gate
Vietnam-based Mekong Capital has partially exited its stake in hotpot restaurant operator Golden Gate Joint Stock Company, seeing a 3.6x return on its less-than three-year-old investment.
Baring powers up for NASDAQ take-private bid
In what could be the start of a delisting trend among US-listed Asian companies, Baring Private Equity Asia has made a privatization bid for NASDAQ-listed Chinese electric motor manufacturer Harbin Electric, alongside the target company’s chairman and...
Citadel latest to exit stake in Pipava Shipyard
Global hedge fund Citadel is the latest Pipavav Shipyard investor to exit a stake in the company, selling a 2.06% stake in the Indian shipbuilder for INR103.8 crore ($23.5 million) in the public market.
Morgan Stanley gets nod from authorities to sell CICC stake
Morgan Stanley has reportedly received the green light from PRC regulators for its tentative sale of its 34.3% stake in China International Capital Corp (CICC), the Chinese investment bank, according to local media reports.
CDH-backed Chinese education group Xueda files for NYSE IPO
Xueda Education Group, one of the largest providers of primary and secondary school tutoring services in China, and a portfolio company of CDH Investments, will debut on the NYSE.
TPG leads Partners Group, ARC China in China Vogue Casualwear deal
An investment consortium led by TPG Capital, the US buyout group, and also including Partners Group and ARC China Holdings, has invested some $45 million in China Vogue Casualwear Ltd., a leading casual sportswear company in China which operates under...
Korea Exchange Bank union held secret meeting with ANZ over Lone Star exit
The employees' union of Lone Star investee Korea Exchange Bank (KEB) held a closed and secret meeting with executives of Australia and New Zealand Banking Group (ANZ) last month, smoothing the way for a bid by the Australian lender for Lone Star's controlling...