Exits
Shaw Kwei completes exit from China's YongLe with 4.8x return
Shaw Kwei & Partners has completed its exit from Chinese PVC adhesive tape manufacturer YongLe Tape – securing a gross multiple of 4.8x – as Avery Dennison purchased the asset for a total consideration of $300 million.
Creditors take control of PE-owned Gerard Lighting
A creditor consortium led by Investec and Bain Capital Credit (BCC) has assumed full control of Gerard Lighting, an Australian light fittings distributor owned by CHAMP Private Equity.
PE-backed IEX files for India IPO
Online energy trading platform India Energy Exchange (IEX) has filed for an IPO, providing a partial exit for several private equity backers.
MBK completes exit from Japan's Komeda with 5x return - update
MBK Partners has sold the remainder of its stake in Japan-based coffee shop chain Komeda Holdings JPY24.3 billion ($217 million), securing a 5x return on the overall investment.
CITIC Capital, FountainVest to exit China's Focus Media
CITIC Capital Partners and FountainVest Partners plan to exit their entire stakes in Focus Media - the Chinese outdoor advertising business they helped take private in the US and then re-list in Shenzhen two years ago - within six months.
Nippon Mirai to sell Takasago stake back to NEC
Japanese GP Nippon Mirai Capital has agreed to sell its entire 51% stake in Takasago Machinery, an electronic equipment manufacturer, to its previous owner NEC Corporation for an undisclosed sum.
Bain continues to trim holding in Japan's Skylark
Bain Capital has made its second partial exit in three months from Japanese restaurant operator Skylark, receiving JPY41.6 billion ($373.6 million) and reducing its stake to approximately 15%.
Warburg Pincus to invest $360m in Tata Technologies
Warburg Pincus has agreed to invest $360 million in Tata Technologies, the engineering outsourcing and product development IT services arm of Indian conglomerate Tata Group.
Q&A: Unison Capital's Tatsuo Kawasaki
Tatsuo Kawasaki, co-founder and partner at Unison Capital, discusses why deal flow is growing in Japan’s middle market – not only in terms of volume, but also in seller type and sector scope
PE-backed WuXi Biologics completes Hong Kong re-listing
WuXi Biologics, a Chinese contract R&D services provider to the global pharmaceutical industry that was taken private by a PE-backed consortium in late 2015, gained 38% on its Hong Kong trading debut following a HK$3.97 billion ($510 million) IPO.
Baring Asia to exit Japan's Joyful Honda
Baring Private Equity Asia will sell its minority stake in Joyful Honda, a Japan-based home improvement center operator, for JPY56.6 billion ($513 million) through participation in a tender offer launched by the company.
Hong Kong tech IPOs: Compromise solution
Hong Kong wants to reinvest itself as a destination for Chinese technology listings with a new board that would be open to companies that are pre-profit and have dual-class share structures. Will it fly?
GPs sell French crystal maker to Chinese investment group
Chinese investment group Fortune Fountain Capital has agreed to buy a controlling stake in French luxury crystal maker Baccarat from Starwood Capital and L Catterton Partners, in a deal worth EUR164 million ($184 million).
China regulator relaxes exit rules for PE, VC firms
The China Securities Regulatory Commission (CSRC) has eased rules for private equity and venture capital firms by reducing their post-IPO lock-up period in an A-share listed companies from three years to one year.
PE-owned Samyang closes up on debut after $60m IPO
Korean camera lens manufacturer Samyang Optics ended its first day of trading on KOSDAQ at a slight premium to its IPO price, having raised KRW66.8 billion ($60 million) in the offering and enabled VIG Partners to make a partial exit.
Singapore Exchange to lower barriers for tech IPOs
The Singapore Exchange (SGX) has partnered with Infocomm Media Development Authority (IMDA), Singapore’s technology and media regulator, to help technology start-ups list in the territory.
Deal focus: Quadrant cashes in on Icon’s growth potential
Quadrant Private Equity agrees a $746 million exit from Icon Group, with new owners QIC, Goldman Sachs and Pagoda Investment keen to continue the cancer specialist's expansion in Asia
Taiwan regulator nixes Carlyle's EBC exit
The Carlyle Group appears to have hit a wall in its latest attempt to exit Taiwan TV station Eastern Broadcasting (EBC) as the National Communication Commission (NBC) blocked a sale to Taiwan Optical Platform, a local telecom services provider.
Fairfax to part exit India's ICICI Lombard
Fairfax Financial Holdings will sell a 12.2% stake in ICICI Lombard General Insurance to a group of PE investors including Warburg Pincus, Tamarind Capital, and IIFL Asset Management.
Bain to make full exit from Domino's Pizza Japan
Bain Capital Private Equity is set to exit Domino’s Pizza Japan, having exercised a put option requiring Domino’s Pizza Enterprises (DPE) - which acquired a majority interest in the business in 2013 – to buy its 25% stake.
Navis to sell Australia’s Retail Apparel to The Foschini Group
Navis Capital Partners has agreed to sell its controlling stake in Australia’s Retail Apparel Group (RAG) to The Foschini Group of South Africa in a deal worth A$302.5 million ($225 million).
VC investors to exit India's ItzCash to strategic
US-based software developer Ebix has agreed to buy a majority stake in Indian financial technology firm ItzCash, providing an exit for its VC backers including Lightspeed Venture, Matrix Partners and Intel Capital.
Blue Sky exits Australia's HPS via $116m trade sale
Blue Sky Alternative Investors will exit its stake in HPS, Australia’s largest provider of outsourced pharmacy services to hospitals, as healthcare business EBOS agreed to buy the asset for A$154 million ($116 million).
Sagar Ratna founder buys out India Equity Partners
Jayaram Banan, the founder of Indian restaurant chain Sagar Ratna, has bought out India Equity Partners’ (IEP) majority stake in the company.