Investments

CPPIB/OTPP reach end of road with Transurban

In what looks like the end of the road for the takeover bid by Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP) for Australian toll road operator Transurban Group, the Transurban board rejected a higher offer...

CIC invests Penn West oil sands

China Investment Corporation has continued the recent trend of PRC investment in Canada's northern oil sands regions, paying C$817 million ($801 million) for 45% of energy trust Penn West's Peace River project.

CITIC Capital Japan to take Higashiyama Film

HF Holdings, a wholly-owned special purpose vehicle formed by CITIC Capital Holdings Ltd, CITIC Capital Japan Partners II LP, Castle Rock Holdings SPRL and Wealth Rock Holdings SPRL, has announced it will acquire 55.3% of Higashiyama Film Ltd from its...

CAS Capital to privatize JASDAQ's Merktec for $65 million

CAS Capital, a Tokyo-based investment firm targeting management buy-ins and buyouts, will sponsor the privatization of Marktec Corporation, a JASDAQ-listed maker of non-destructive testing (NDT) products, through a tender offer, with a total value of...

Shinsei, Aozora call off bank merger

Shinsei Bank, 33% owned by US private equity group JC Flowers & Co., and Aozora Bank, 50.5% owned by Cerberus Capital Management, have called off their merger plan, due to many outstanding differences over business operations.

VC-backed Jinko Solar disappoints at IPO

VC-backed Chinese solar company Jinko Solar Holding Co. Ltd., could not raise its expected target from its IPO on the New York Stock Exchange; selling 5.84 million American Depositary Shares for $11, the bottom of an expected price range up to $13,and...

CVC flies into Stella/Jetset stock merger

CVC Capital Partners has had a public markets exit of sorts on its Australian travel investee Stella Travel Services through an all-share merger with listed industry peer Jetset Travelworld, creating a 50:50 JV listed business worth some A$440 million...

Korean regulator says no bias against foreigners

With a $3.7 billion stake in Korea Exchange Bank (KEB) up for sale, a commissioner with Korea’s Financial Services Commission, Choi Kyu Yun, said in an interview that “the market has misunderstood our position,” and that foreign bidders would be welcome...

TPG sells Ping An H-shares

On the back of last week’s report that TPG Capital's legacy fund Newbridge Asia sold out its 16.76% stake in Shenzhen Development Bank to Ping An Insurance, the group has sold over half of the H-shares it received as payment into the market for a total...

Longreach Group may win Sanyo logistics company

Hong Kong-headquartered private equity firm The Longreach Group has emerged as the potential lead bidder for Sanyo Electric Logistics Co.,Ltd, a Japanese logistics company owned by Sanyo Electric, the electronics manufacturer acquired by Panasonic in...

INCJ seeks Australian water business

Innovation Network Corporation of Japan (INCJ), the government-backed public/private fund, has agreed to acquire United Utilities Australia (UUA), a wholly-owned subsidiary of United Utilities PLC, the UK's largest listed water company, alongside Japanese...

Goldman Sachs close to Taikang win

A consortium led by Goldman Sachs is close to finalizing negotiations for the 15.6% stake in the PRC's Taikang Life Insurance Corp. owned by France’s insurance giant AXA, for about $1 billion.

Norway's NMI supports Chennai microfinance

Norway's NMI Frontier Fund has joined existing investors International Finance Corporation (IFC), Swedfund (the Swedish Development Finance Institution), and Aavishkaar Goodwell, committing $900,000 into Belstar Investment and Finance, a Chennai microfinance...

Movement in Pakistan with Shell LPG bids

Private equity in Pakistan has shown unprecedented activity with a competitive auction developing for Shell Petroleum's stake in Shell Gas Pakistan between JS Private Equity and local strategic Jamshoro Joint Venture Ltd, as well as a possible third bidder....

Darby invests HK skincare company

Darby Overseas Investments, the mezzanine-focused private equity arm of Franklin Templeton Investments, has made an HK$78 million ($10 million) investment in Water Oasis Group Ltd, a leading skincare and beauty group listed in Hong Kong.

Fidelity India invests Punj Lloyd arm

Fidelity Growth Partners India has invested an undisclosed sum for a minority stake in energy and infrastructure engineering services company PL Engineering, a division of leading conglomerate Punj Lloyd.