Exits
Japan's KDDI to acquire VC-backed Soracom
Soracom, a Japanese internet of things (IoT) communications platform that has several VC backers, will be acquired by domestic telecom operator KDDI Corporation.
Secondary buyouts: Peer to peer
Maligned by some investors, sponsor-to-sponsor deals are gradually becoming more prevalent in Asia as the private equity industry matures. What is the early verdict?
Fosun, Sanyuan to buy margarine maker from European GP
Chinese conglomerate Fosun Group has teamed up with Beijing Sanyuan Foods to buy French margarine maker St Hubert from Montagu Private Equity for EUR625 million ($734 million).
Mekong makes partial exit from Vietnam's Loc Troi
Mekong Capital has made a partial exit from Loc Troi Group – formerly known as An Giang Plant Protection – as the Vietnamese agribusiness player went public. The company is also backed by Standard Chartered Private Equity (SCPE) and PENM Partners.
Temasek-backed Godrej Agrovet files for India IPO
Godrej Agrovet, the agri-business subsidiary of Indian conglomerate Godrej Industries, has filed for an IPO that will provide an exit for Singapore’s Temasek Holdings.
Australia's Westpac in talks to sell Hastings fund business
Australia’s Westpac Banking Corp. has entered exclusive negotiations to sell Hastings Fund Management to Australia-listed property developer Charter Hall Group.
Japan's Marubeni buys beef supplier from US GP
Japanese conglomerate Marubeni Corp. has acquired Creekstone Farms Premium Beef, a US-based supplier of beef and pork products, from Sun Capital Partners.
Bain to make partial exit from Japanese mushroom producer
Bain Capital Private Equity has agreed to sell a 49% in Yukiguni Maitake, a Japanese mushroom producer, to domestic food company Shinmei. The size of the transaction was not disclosed.
Creditors to assume control of KKR-owned Bis Industries
Australian mining services provider Bis Industries has reached a debt-to-equity restructuring agreement with creditors that will see current owner KKR relinquish its majority position.
J-Star exits Japanese document scanning business to Orix
Mid-market private equity firm J-Star has exited its entire holding in Japanese document scanning company Primagest to local financial services conglomerate Orix Corporation.
Baring Asia completes Joyful Honda exit, secures 45% IRR
Baring Private Equity Asia has completed its exit from Japanese home improvement center operator Joyful Honda – the first joint investment by the firm’s private equity and real estate funds – generating a gross IRR of around 45%.
2Q analysis: All about Japan
Japan’s middle-market in fundraising flurry; Toshiba fails to make the second-quarter cut, but Asia buyouts still boom; public markets, particularly in Japan, deliver strong exits as trade sales stutter
India's PE-backed Khadim files for IPO
Indian footwear retailer Khadim India has filed for an IPO that will provide a full exit for its PE backer Fairwinds Private Equity.
Quadrant to exit Australia's Zip Industries via trade sale
Quadrant Private Equity has sold Zip Industries, an Australia-based manufacturer of drinking water appliances, to global water treatment specialist Culligan International for an undisclosed sum.
Carlyle-backed Tencent ebook unit files for Hong Kong IPO
China Literature, the ebook unit of China’s Tencent Holdings whose backers include The Carlyle Group and Trustbridge Partners, has filed for an IPO in Hong Kong.
VIG pays $127m for majority stake in Korean skincare player
VIG Partners has agreed to buy a 73% stake in Press & Converting, a Korea-based manufacturer of facial masks primarily used for skincare, in a deal worth KRW146 billion ($127 million).
Q&A: BDA's Paul DiGiacomo
Paul DiGiacomo, a managing director with Asia-focused advisory firm BDA Partners, discusses the latest trends in M&A, from increasingly sophisticated Chinese buyers to more willing multinational sellers
Singapore's GIC buys 30% stake in Mergermarket
Singapore’s GIC Private has acquired an approximately 30% stake in Mergermarket Group – AVCJ’s parent company – from BC Partners. The size of the transaction was not disclosed.
VC-backed gaming company Razer files for Hong Kong IPO
Razer, a manufacturer of gaming peripherals such as headphones, joypads and mice, has filed for a Hong Kong IPO. The company, which was co-founded by a Singaporean but is based in the US, has numerous venture capital backers.
Rocket, Kinnevik exit as Alibaba pumps $1b into Lazada
Alibaba Group will invest about $1 billion to take its stake in Southeast Asia-based e-commerce platform Lazada from 51% to 83%, enabling investors including Rocket Internet and AB Kinnevik to make a full exit.
Blackstone exits Indian newspaper publisher
The Blackstone Group has exited its entire stake in Jagran Media Network, the holding company of Indian newspaper publisher and media platform Jagran Prakashan.
Sequoia-backed Prataap refiles for India IPO
Prataap Snacks, an India-based snacks maker backed by Sequoia Capital, has refiled for an IPO following a change in its shareholding structure.
Zombie start-ups: On the same side
Zombie companies present a special challenge for VC investors, whose exit goals may not match the aims of the founders. Successful GPs will try to ensure a positive experience for all parties
PE-backed Chinese logistics player files for US IPO
Best Inc, a Chinese logistics operator backed by Alibaba Group and a string of private equity investors, has filed for a US IPO. No details have been given as to the size and pricing of the offering.