Investments

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...

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.

Hopu investee Winsway appoints IPO advisors

Chinese coking coal logistics company Winsway, partly owned by a Hopu Investment Management-led investment consortium, has reportedly appointed Goldman Sachs and Deutsche Bank as advisors on its planned Hong Kong IPO, in which the company expects to raise...

Prax to sell out of China property venture

Prax Capital, a China-focused private equity firm, will sell its 40% holding in its JV Success Hill Investments Ltd, to China Housing & Land Development, Inc., a NASDAQ-listed property developer for RMB576 million ($84.5 million).

And the second shall be first

Secondary deals, forecast for months now to see significant new volume across Asia Pacific, are fulfilling those predictions, as GPs pass investees from hand to hand.

Transurban rejects higher CPPIB/OTPP bid

Australian toll road major Transurban Group has rejected a higher takeover bid of A$7.2 billion ($6.4 billion) from the Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers’ Pension Plan (OTPP), along with local fund manager CP2 Ltd....

GOME reappoints Bain directors after eviction attempt

The board of Bain Capital investee GOME Electrical Appliances reappointed Bain representative non-executive directors Jonathan Zhu, Ian Reynolds and Wang Li Hong after two significant affiliated shareholders voted against their reappointment at the company's...

Carlyle, ChrysCapital, SCPEL suitors for Godrej Consumer

The Carlyle Group, ChrysCapital Management, and Standard Chartered Private Equity Ltd. (SCPEL) are among the private equity firms bidding for a $130-140 million investment opportunity into India's Godrej Consumer Products, according to Indian reports.