Exits
Chinese strategic to buy VC-backed US marketing platform
Spearhead Integrated Marketing Communication Group, a Beijing-based offline marketing service provider, will buy Smaato, a California-based mobile ad exchange backed by Singapore's EDB Investments (EDBI) and Singapore Press Holdings.
Navis, Symphony buy French furniture brand Christian Liaigre
Navis Capital Partners and Symphony International Holdings have acquired Christian Liaigre Group, a French luxury furniture brand that is looking to expand in Asia, from Bridgepoint Development Capital for an undisclosed sum.
China Online Education slips on trading debut, VCs re-up
VC-backed China Online Education Group closed marginally below its offering price on the first day of trading on the New York Stock Exchange, following an IPO worth $45.6 million. Existing backers Sequoia Capital and DCM concurrently committed an additional...
EQT exits Modern Metal to China's JD Capital
EQT Partners has exited Modern Metal & Precision, a Chinese aluminum die casting manufacturer, to China-based private equity firm JD Capital.
Warburg Pincus to make partial exit from China Biologic
Warburg Pincus has agreed to make another partial exit from China Biologic Products, a US-listed bio-pharmaceutical developer, generating proceeds of about $308 million.
Providence part exits India's Idea Cellular for $207m
Providence Equity has sold about 3.5% of its 6.8% stake in India’s Idea Cellular for INR13.8 billion ($206.6 million).
Telkom Indonesia abandons acquisition of PE-owned TeleGuam
State-controlled telecommunications company Telkom Indonesia has terminated its acquisition of TeleGuam on the US island of Guam from Japan’s Advantage Partners.
PE-backed Jones the Grocer folds in Australia again
The Australian operation of Jones the Grocer, a gourmet food retailer backed by L Capital Asia, has entered voluntary administration for the second time in two years.
GIC, Temasek buy $1b of Alibaba shares from SoftBank
Singapore’s GIC Private and Temasek Holdings have bought a combined $1 billion of Chinese e-commerce giant Alibaba Group’s shares, as part of an $8.9 billion share sale by Japan’s SoftBank Group.
China announces new rules for GPs listing on New Third Board
China’s securities regulator said it would resume its approval of qualified private equity firms listing on the National Equities Exchange and Quotations (NEEQ), while imposing tighter listing requirements.
China GPs underline merits of sector focus
China GPs must respond to the country’s economic slowdown by paying closer attention to picking sectors that can outperform – and in which they can help drive that performance – industry participants told the Hong Kong Venture Capital & Private Equity...
Intel Capital cancels plans for secondary sale
Intel Capital, the captive VC arm of Intel Corp, appears to have abandoned plans to offload some of its investments in technology companies, with Wendell Brooks (pictured), the unit’s president, saying there will be no major changes to the portfolio....
MBK-owned Komeda Coffee wins approval for Japan IPO
Komeda Coffee, a coffee shop chain owned by North Asia-focused MBK Partners, has won approval for a Tokyo IPO. The indicative price suggested the offering will be worth up to JPY60.2 billion ($547.4 million).
Kyobo Life bids for MBK-owned ING Life Korea
Kyobo Life Insurance, Korea’s third-largest insurer, has entered the bidding process for MBK Partners-owned ING Life Korea.
Deal focus: CITIC exits a bigger Tri-Wall
CITIC Capital Partners overcame strategic competition to buy a majority stake in Tri-Wall. After six years and significant financial and geographic expansion, it is exiting to a strategic player
Chinese manufacturer buys PE-owned Thermal Dynamics
China Zhejiang Yinlun Machinery, a Shenzhen-listed manufacturer of heat exchangers, has acquired US-based counterpart Thermal Dynamics International (TDL) for $56.65 million, facilitating a full exit to US private equity backer Evergreen Pacific Partners....
Samara exits India-listed Asian Oilfield Services
Samara Capital has exited its stake in Indian listed oil and gas exploration services provider Asian Oilfield Services to Mumbai-based energy exploration firm Oilmax Energy for INR300 million ($4.4 million).
PE-backed SF Express targets $6.6b Shenzhen reverse merger
China’s largest express delivery services provider SF Express, which is backed by several PE investors, is looking to list in Shenzhen through a reverse merger that values the business at RMB43.3 billion ($6.6 billion).
PE-backed Giant completes $2b backdoor listing in Shenzhen
Chinese online game developer Giant Interactive Group, which was taken private by a consortium of PE investors in conjunction with the company’s CEO, has completed a backdoor listing in Shenzhen that values the business at RMB13.1 billion ($2 billion)....
India's IDFC completes part-exit via Parag Milk Foods IPO
IDFC Alternatives has concluded its partial exit from Indian dairy firm Parag Milk Foods via the company's IPO, realizing INR1.8 billion ($26.7 million) from the offering.
Sydney exchange creates small cap platform
The Sydney Stock Exchange (SSX) has initiated development of a blockchain-based equities market settlement and registration system that is expected to facilitate exits for VC firms.
CITIC Capital exits Tri-Wall to Japan's Rengo
CITIC Capital Partners has agreed to sell its majority stake in Tri-Wall Holdings, an Asia-focused heavy duty packaging business, to Japanese packaging manufacturer Rengo for $221.7 million.
Local GP ChinaEquity assumes control of A-share company
ChinaEquity Group, a private equity firm listed on the National Equities Exchange and Quotations (NEEQ), has acquired a controlling interest in an A-share listed company in what could be an attempt to move to the larger exchange.
Quadrant exits data center business to Infratil, Commonwealth Super
Quadrant Private Equity will exit Australia-based Canberra Data Centers (CDC) as listed infrastructure investor Infratil and Commonwealth Superannuation Corp. (CSC) agreed to buy a majority stake in the business for A$784 million ($565 million).