Restructuring
J-Trust drops from Takefuji bid, A&P new leader
In a surprise twist in the long-awaited sale of distressed Japanese consumer lender Takefuji Corp., leading suitor, Goldman Sachs-backed J-Trust, has dropped out of the bidding process, making way for Korean lender A&P Financial Co. to assume the top...
Japan’s ETIC will support elderly medical service company
The Enterprise Turnaround Initiative Corporation of Japan (ETIC), a government-backed turnaround investment unit, will back the financially burnt-out medical operating group Hakuyuukai Medical, requesting that the company’s creditors withhold from recovering...
ETIC offers ARRK a lifeline
The Enterprise Turnaround Initiative Corporation of Japan (ETIC), a government-owned turnaround investment unit, has pledged JPY9 billion ($107 million) to ARRK Corporation, a listed manufacturer of prototype products, and its 67 subsidiaries.
J-Will may buy the Incubator Bank of Japan
J-Will Partners, a leading private equity firm based in Tokyo, has emerged as one of the potential bidders to take over the failed Incubator Bank of Japan, joining local lenders Aeon Bank and Kyoto Credit Cooperative to vie for the asset.
TPG, J-Trust near Takefuji takeover
U.S. buyout firm TPG Capital and Japanese consumer lender J-Trust have emerged as the lead contenders to take over the collapsed Japanese consumer lender Takefuji Co., Dow Jones reported
L Capital Asia may buy Indian luxury retailer
L Capital Asia, the Asia-based arm of the private equity firm set up by the LVMH Group, has reportedly planned to acquire a significant minority stake in a unit of Gitanjali Gems Limited, India’s luxury brand and products retailer group, for a value...
PE bids for Japan consumer lender: reports
According to reports in local Japanese press, a short list of bidders for Japanese consumer lender Takefuji Corp include: TPG Capital; nonbank financial firm in Kyoto, Japan, J Trust Co.; a major South Korean consumer credit company; and Tokyo-based...
Japan's DRC Capital nealy closed its third fund
Tokyo-based DRC Capital, a private equity firm focused on turnaround investment opportunities in Japan, has nearly closed its third fund at $150 million, according to local media reports.
Vogo Fund takes over Tong Yang Securies and other group companies for $798 million: reports
South Korean private equity firm Vogo Fund has acquired a total 46.5% stake in three Tong Yang group companies, combining portions of Tong Yang Securities and two other entities of the mid-sized local conglomerate, according to Reuters.
Japan's INCJ invests in troubled Nihon Inter Electronics Corp.
Innovation Network Corporation of Japan (INCJ), the private-public investment fund 89% owned by the Japanese government, will take up one third of the share allotment issued by Nihon Inter Electronics Corporation, a listed manufacturer of semiconductors...
Daiwa SMBC Principal exits HMV Japan to Lawson
Lawson Inc., the Japanese convenience store chain operator, will acquire 100% of HMV Japan KK, the CD and DVD retail sales operation running under the UK’s HMV brand name, for JPY1.8 billion ($22.3 million) from Daiwa Securities SMBC Principal Investments...
Japan Industrial Partners buys Kyowa Hakko Kirin chemical unit
Japan Industrial Partners, a Tokyo-based private equity firm specializing in business restructuring, has reached a basic agreement to acquire 100% of Kyowa Hakko Chemical, wholly owned by parent Kyowa Hakko Kirin Co., a major fermented chemicals manufacturer.
WL Ross may catch Kingfisher after SpiceJet airline success
WL Ross India, the local platform of leading US turnaround investor Wilbur Ross, may be looking to repeat the success of its SpiceJet investment by taking a stake in the debt-burdened industry peer, Kingfisher Airlines.
Advantage Partners seeking secondary investor for Tokyo Star Bank
Advantage Partners, the independent Japan-focused buyout firm, is seeking capital from investors to help cover the JPY170 billion ($2.04 billion) loan package it used to acquire Tokyo Star Bank in 2007 from the previous majority shareholder, Lone Star...
NZ Yellow Pages showcases dangers of bull market LBOs
Just two months after pan-regional PE firm Unitas Capital and its co-investor Ontario Teachers Private Capital first kicked off the exit process of the New Zealand Yellow Pages Group, approaching a plethora of private equity and industry-related potential...
Samsung and Prodos Capital in US may take Gianfranco Ferré
South Korean conglomerate Samsung Group and American private equity firm Prodos Capital Management emerged as the final bidders for Italian fashion house Gianfranco Ferré, which has filed for bankruptcy protection, in a deal offering to buy out the firm...
Goldman trying to exit holdings in Primo Japan
Goldman Sachs appears to be looking for buyers for its holdings in Primo Japan Inc., a Japanese retailer of diamond rings, in a prospective deal which could fetch as much as JPY10 billion ($118 million).
Japan's ETIC to back merger plan for Fuji Technica
State-backed Japanese turnaround fund the Enterprise Turnaround Initiative Corporation of Japan (ETIC) will support financing to Fuji Technica Inc., the country's second-ranked metal mold manufacturer, which intends to acquire Miyazu Seisakusho So., the...
Alinta seals asset sale deal with TPG consortium
Australian power major Alinta Energy has reached agreement with the TPG Capital-led consortium of its creditors, also including Oaktree Capital and Anchorage Advisers, to sell the majority of its assets into a new company owned by the consortium.
Alinta investors still in talks
TPG Capital – both its TPG Opportunities Partners debt unit and its private equity funds – Oaktree Capital, and Anchorage Advisers are still in talks with Bain Capital affiliate Sankaty Advisors and other debt holders about distressed Australian power...
KKR and TPG may team up to bid for Foster's wine unit
US buyout majors Kohlberg Kravis Roberts and TPG Capital were said to have had early talks for a joint bid for the wine unit of Australian brewer Foster's, according to reports.
Bain's Sankaty opposes TPG-led Alinta rescue in Australia
Sankaty Advisors, the special situations/credit affiliate of Bain Capital, is opposing the bailout plan led by TPG Capital's TPG Opportunities Partners unit, with Oaktree Capital and Anchorage Advisers, for struggling Australian power producer Alinta...
TPG, Oaktree, Anchorage ready to back Alinta recap
TPG Capital - through its TPG Opportunities Partners special situations vehicle and private equity funds - with Oaktree Capital and Anchorage Advisers are preparing a recapitalization deal for Australian power generator Alinta Energy, previously Babcock...
Cerberus misses Foster's wine business, TPG, KKR in frame
Cerberus Capital Management, the US buyout firm specializing in turnaround investments, was the private equity firm that offered to buy 100% of the Treasury Wine Estates unit of Australia’s largest beer maker, Foster's Group, for up to $2.5 billion,...