PIPEs
PAG commits $250m to NASDAQ-listed Funtalk China
PAG Asia Capital has agreed to invest $250 million in Funtalk China Holdings, a NASDAQ-listed company that controls Chinese subsidiaries involved in the distribution and retail of mobile phone handsets, accessories and content.
ChrysCapital accumulates 7.2% stake in NCC
ChrysCapital has bought a 7.2% stake in NCC, an Indian construction company backed by Blackstone Group, for INR1.37 billion ($30 million). The purchases – 18.5 million shares in total – were made on the open market by ChrysCapital unit Warhol between...
Bank of America raises $8.3b in partial exit from CCB
Bank of America (BofA) on Monday sold about half its 10% holding in China Construction Bank (CCB), raising $8.3 billion. The lender, which is in the process of shedding non-core assets and boosting its tier-one capital, sold 13.1 billion shares to group...
ETIC becomes largest shareholder in Japanese engineering firm
Enterprise Turnaround Initiative Corp of Japan (ETIC) has underwritten 150 million of common shares issued by ARRK, a listed company engaged in die and mold engineering, worth JPY9 billion ($117 million).
Bank of America expected to exit over half its CCB stake this week
Bank of America (BofA) is on course to sell more than half its stake in China Construction Bank (CCB) for up to $10 billion this week. A consortium of Asian and Middle East sovereign wealth funds as well as several private equity firms are in negotiations...
Morgan Stanley invests in Chinese plastics firm
Morgan Stanley Private Equity Asia (MSPEA) has agreed to make a $100 million equity investment in China XD Plastics for a significant minority stake.
Warburg Pincus exits Indian publishing conglomerate
Warburg Pincus has reportedly sold its remaining 3.6% stake in Indian media company DB Corp. - the owner of India’s second-largest Hindi daily Dainik Bhaskar - for INR1.57billion ($34.6million) on the National Stock Exchange. Shares in the company reportedly...
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
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.
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...
Carlyle to invest up to $194m in Haier Electronics Group
The Carlyle Group will invest up to $194 million in Haier Electronics Group (HEG), a Chinese white goods manufacturer, potentially taking a 9% stake in the company.
KKR to buy convertible bonds in Chinese water treatment firm
KKR has agreed to invest $113.8 million in convertible bonds issued by United Envirotech (UEL), a Chinese water treatment and recycling services provider. The deal could see the US private equity firm take a stake of around 38.4% in the firm.
Avendus to launch fund targeting listed companies
Avendus PE Investment Advisors plans to raise a fund worth up to $200 million to target mid-size listed companies in India, Reuters reported. This would be the third fund launched by the firm, a unit of financial services player Avendus Capital.
Temasek eases exposure to Chinese banks
The timing of Temasek's sell-down of a partial stakes in Bank of China and China Construction Bank certainly raised eyebrows. Singapore’s second-largest sovereign wealth fund made its move hours after Moody’s warned that the scale of local government...
Nestle offers $1.7b for 60% of Chinese candy company
Nestle has offered to buy 60% of Hsu Fu Chi International, a leading Chinese confectionary company, for about $1.7 billion and then take the company private in collaboration with its family owners, Reuters reported. The deal values Hsu Fu Chi at S$3.46...
India's L&T sees $75m in pre-IPO raise
L&T Finance Holdings, a subsidiary of Indian engineering conglomerate Larsen & Toubro, has raised $75 million through a pre-IPO share placement to US private equity fund Capital International, according to a statement sent to the Bombay Stock Exchange.
China Auto Logistics raises $5.25m through private equity placement
China Auto Logistics has raised $5.25 million through a private equity placement. The NASDAQ-listed company, which runs automobile-related websites, sells imported luxury vehicles and provides automobile-related services, sold 3 million unregistered common...
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...
PE firms participate in ING Vysya Bank share placement
A group of six funds, led by private equity players ChrysCapital, Morgan Stanley and India Advantage Fund, have bought a more than 5% stake in ING Vysya Bank for about INR300 crore ($70 million). The stake was purchased through the bank’s recent INR513...
Warburg Pincus to sell Max Healthcare stake to Max India
Max India, an insurer and hospital operator, plans to buy a 16.37% stake in its subsidiary Max Healthcare from Warburg Pincus, Economic Times reported.
Hony Capital participates in Suning private placement
Hony Capital will invest RMB1.2 billion ($185 million) in Suning Appliance, a leading Chinese consumer electronics retailer, as part of a private placement worth up to RMB5.5 billion ($850 million). The private equity firm has agreed to subscribe to 97.56...
Ashmore poised to buy stake in Pakistani fertilizer firm
Private equity firm Ashmore has been granted 90 day extension by the Securities and Exchange Commission of Pakistan to purchase 80% stake in Agritech, formally known as Pak American Fertilizer.
MSPE Asia singles out Yongye as a value proposition
To Yongye International, a Chinese agricultural nutrients producer, Morgan Stanley Private Equity (MSPE) Asia is every bit the white knight. Under attack from short-sellers that had branded the company a fraud, Yongye’s stock was in trouble: it was...