Region
Navis, Rabo exit Thai duck processor
Navis Capital Partners and Rabo Capital have exited Thai duck processing firm Bangkok Ranch, plus its Dutch subsidiary Duck To Holdings, to a consortium led by the companies’ founders. The deal values the combined assets at THB5.7 billion ($188 million)....
LPs on Asia: The risk factor
Proximity is reassuring. It shouldn't be surprising that a corporate governance scandal in Asia triggers concerns among institutional investors in North America who are far removed from the information flow and first hear the news via newspaper headlines...
Texas County & District invests $50m in RRJ's second fund
Texas County & District Retirement System (TCDRS) has committed $50 million to RRJ Capital’s second fund, which is targeting up to $5 billion. The private equity firm is run by Richard Ong, who previously co-founded China-focused Hopu Investment Management,...
Korea's EQ Partners supports ArcelorMittal deal – report
South Korean private equity firm EQ Partners is said to be part of the Asian consortium that has acquired a 15% stake in ArcelorMittal Mines Canada (AMMC) for $1.1 billion. Other investors include South Korean steelmaker Posco and Taiwan’s China Steel...
Founder of SAIF-backed NVC Lighting sells a 12% stake
Wu Changjiang, founder and former chairman of NVC Lighting Technology Corp, a Hong Kong-listed lighting company backed by SAIF Partners, has agreed to sell close to two-thirds of his stake to Elec-Tech International (HK), another China-based lighting...
Taiwan's Chinatrust in talks to buy Tokyo Star Bank - report
Chinatrust Commercial Bank, one of Taiwan's largest commercial banks, is reportedly in talks to acquire Tokyo Star Bank for JPY50 billion ($582 million). Tokyo Star's shareholders, which include Lone Star Funds, have previously struggled to find interested...
India's Essel Group to launch private equity fund
Essel Group, the Indian conglomerate headed by media mogul Subhash Chandra, has set up a new investment arm - Essel Financial Services - that will target private equity, infrastructure, real estate and financial services.
Unitas snaps up majority stake in Shenzhen ZTE Netview
Unitas Capital has taken a controlling interest in Shenzhen ZTE Netview Technology (ZNV), a subsidiary of Hong Kong-listed tech company ZTE Corporation, for RMB1.3 billion ($208 million). The transaction came out of ZTE’s broader program to divest non-core...
Zoomlion's PE backers exit CIFA holdings for $236m
Chinese construction equipment maker Zoomlion has paid $236 million for equity interests held by Hony Capital, Goldman Sachs and Mandarin Capital Partners in the business unit that was used to buy Italy’s Compagnia Italiana Forme Acciaio (CIFA) in 2008....
CHAMP Ventures exits Australian Portable Buildings
CHAMP Ventures has agreed to sell Australian Portable Buildings (APB) to two Canadian companies, Black Diamond Group and Britco, for A$72.5 million ($75.2 million). The Australian private equity firm acquired a near 80% stake in the company in February...
Advantage Partners buys Sanyo's camera business
Advantage Partners has acquired Sanyo Electric’s digital camera unit. Panasonic, which took control of its former competitor in 2009 in a JPY400 billion ($4.6 billion) acquisition, said it chose to do business with Advantage because of the private equity...
Abax, chairman complete $364m Fushi Copperweld take-private
Abax Global Capital has finally completed its management buyout of NASDAQ-listed Chinese wire manufacturer Fushi Copperweld more than two years after the initial bid was submitted. The transaction, staged in conjunction with Li Fu, Fushi’s chairman and...
ShangPhama board agrees to TPG-backed buyout
ShangPharma Corporation, a Chinese pharmaceutical and biotech research outsourcing firm listed on the New York Stock Exchange, has agreed to management buyout by Michael Hui, the firm’s chairman and CEO, and TPG Capital. The transaction values the company...
Rabo targets $250m for second India agribusiness fund
Rabo Equity Advisors is targeting $250 million for its second India agribusiness fund, more than double the $120 million raised for its debut vehicle in 2008. The larger corpus means Rabo’s typical transaction size will increase to $25 million from the...
Lafarge in talks with PE to sell part of India business
Lafarge is in talks with private equity and financial firms to sell 20-25% of its India unit for about $300 million. The divestment is part of a wider effort from the French cement maker to divest non-core assets and reduce debt levels to below EUR10...
China's Weichai could raise Kion stake to one third
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, has obtained the option in increase its stake in German forklift truck maker Kion to one third. The company owns 25% of the business and already has an option...
Summit invests $26m in Southeast Asia online retailer
Summit Partners has invested EUR20 million ($26.4 million) in the German holding company of Southeast Asian online retailer Lazada. The capital will be used to expand the company’s product offering.
Blackstone appoints new senior managing director for India real estate
The Blackstone Group has promoted India-based Tuhin Parikh to senior managing director in its real estate division. He was previously a managing director.
Carlyle relists Chimney, completes partial exit
The Carlyle Group has completed a partial exit from Japanese restaurant chain Chimney having relisted the company on the Tokyo Stock Exchange three years after taking it private. It is the private equity firm’s first IPO in Japan this year, having abandoned...
Wilson Sonsini opens Beijing office
Venture capital-focused law firm Wilson Sonsini has opened an office in Beijing, enlarging a Greater China footprint that already takes in Shanghai and Hong Kong. The office is led by Kefei Li, a partner with the firm. He reports to Weiheng Chen, the...
Templeton fully divests second emerging markets fund
Franklin Templeton has exited all the investments held in its second emerging markets fund, which was established in 2005 and had a corpus of $132.5 million. The vehicle has generated a net IRR of 34.3% and a money multiple of 2.1x.
Baird invests in Singapore's Boston Plastics
Baird Capital Partners Asia has invested in Singapore plastic injection molding company Boston Plastics. It acquired shares from individual investors and company management, with the latter retaining majority control of the business.
PE-backed Bharti Infratel completes $763m IPO
Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, has raised around INR4.17 billion ($763 million) in India’s biggest IPO in two years.
Focus Media agrees to $3.7b PE-backed buyout
Chinese advertising company Focus Media has agreed to a $3.7 billion management buyout backed by a consortium of private equity firms. It is by some distance China’s largest-ever buyout transaction and is only surpassed in the broader private equity investment...