Trade sale
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.
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.
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).
Fosun Pharma makes offer for India's KKR-backed Gland
Hong Kong-listed drug maker Fosun Pharmaceutical has made a non-binding proposal to acquire Gland Pharma, an Indian pharmaceutical developer backed by KKR.
India's Titan buys Tiger-backed Caratlane
Indian jeweler and watchmaker Titan has bought a majority stake in online jewelry retailer Caratlane, providing an exit for its backer Tiger Global Management.
CVC exits China education business EIC
CVC Capital Partners has sold its stake in Education International Corporation (EIC), a China-based business that helps students enroll in universities overseas, to a consortium that includes the company founder.
Chinese chemicals maker buys Tommee Tippee owner from 3i
Shanghai Jahwa United, a Chinese chemical products maker wholly owned by Ping An Insurance Group, has agreed to buy Mayborn Group – the UK-based manufacturer of Tommee Tippee baby bottles – from 3i Group.
India's Religare sells stake in Landmark Partners
Indian financial services provider Religare Enterprises has sold its stake in Landmark Partners, a US private equity firm specializing in secondary funds.
MSPEA nets 4.5x return on part-exit from Hong Kong's AMTD
Morgan Stanley Private Equity Asia (MSPEA) secured a 4.5x return on its partial exit from Hong Kong-based financial advisor AMTD when China Minsheng International and LR Capital Group took a majority interest in the business.
Aquiline, Genstar exit AssetMark to China’s Huatai for $780m
China’s Huatai Securities has agreed to purchase financial consultancy group AssetMark for $780 million from US-based PE firms Aquiline Capital Partners and Genstar Capital.
Alibaba buys majority stake in Rocket Internet's Lazada for $1b
Chinese e-commerce giant Alibaba Group has paid about $1 billion for a majority stake in Lazada, a Southeast Asia-based e-commerce platform founded by Germany's Rocket Internet, in a transaction that values the company at $1.5 billion.
1Q analysis: Hard times
Only the good prevail as LPs appear wary of China funds; investors continue to seek technology start-up exposure but the check sizes are falling; Korea delivers exits, but other markets fail to shine
IMM PE, Mirae agree to sell stake in Korea defense business
IMM Private Equity and Mirae Asset Private Equity are set to exit South Korea-based Doosan Defense Systems & Technology (DST) after Hanwha Techwin agreed to buy the business for KRW695 billion ($607 million).
SSG buys 40% stake in India's Future Supply Chain
Special situations investor SSG Capital Management Group will pay up to INR5.8 billion ($87 million) for a 40% stake in Future Supply Chain (FSC), a supply chain and logistics subsidiary of India's Future Retail.
KKR to sell majority stake in SMCP to China’s Shandong Ruyi
Chinese textiles producer Shandong Ruyi Technology Group has agreed to acquire a controlling stake in SMCP Group, a French apparel retailer backed by KKR.
Warburg Pincus exits Premier Foods to Japan's Nissin
Japanese noodle maker Nissin Foods has agreed to buy a 17.3% stake in diversified UK grocer Premier Foods from Warburg Pincus for GBP90 million ($129.3 million).
KKR to exit Alliance Tire to Japan's Yokohama
Japanese tire manufacturer Yokohama Rubber has agreed to acquire India's KKR-backed Alliance Tire Group for $1.2 billion.
Hony to exit Australia's Santos to China-based ENN
Hony Capital has agreed to sell its 11.72% stake in Australia-listed oil and gas supplier Santos to ENN Group, a leading Chinese privately-held gas distributor, for $755 million.
India's Ambit Pragma exits Spear Logistics to French strategic
Indian mid-market PE firm Ambit Pragma has exited its majority stake in Spear Logistics to French multinational FM Logistic.
Deal focus: European GPs net 17x return on China play
Punch Powertrain took advantage of gaps in China's auto supply chain to become the leading independent transmission supplier. It has turned out to be a hugely successful investment for Gimv and Capricorn Venture Partners
New Horizon, Gimv agree sale of Punch Powertrain to China's Yinyi
Several PE investors, including China’s New Horizon Capital and Europe-focused Gimv, have agreed to sell Belgium-based Punch Powertrain to Chinese real estate developer Yinyi Group at a valuation of around EUR1 billion ($1.1 billion).
AION supports buyout of GE's India commercial lending business
GE Capital will sell its India commercial lending and leasing businesses to a consortium led by AION Capital Partners.