Southeast Asia
PE funds to bid for 20% stake in Vietcombank
The Vietnamese government has put 20% stake in Vietcombank on the block, and private equity players are invited to bid for this estimated $500 million piece of asset.
Navis no longer in line for Malaysian glove maker - reports
Navis Capital Partners has reportedly dropped its pursuit of Malaysian glove maker Latexx Partners Bhd. after parties were unable to meet on acquisition terms, according to Dow Jones.
Carlyle, TPG and Sumitomo Mitsui eye stake in Malaysian lender
Carlyle and TPG have reportedly teamed up to jointly bid for a 25% stake in Malaysia’s RHB Capital, and are said to face off against Japanese financial group Sumitomo Mitsui Banking Corporation to acquire the asset.
CVC takes 15% stake in Philippines bank for $115m
CVC Capital Partners has taken a 15% stake in Philippine bank Rizal Commercial Banking Corporation (RCBC) for approximately 4.96 billion Philippine pesos ($115 million), which RCBC aims to use for future acquisitions of SME-sized banks in the Philippines,...
Primus' suit against Hong Leong rejected
Primus Pacific Partners’ attempt to thwart Hong Leong Bank from taking over Malaysian banking lender EON Capital has been officially rejected by domestic courts, coming almost a year after Primus lodged the suit on the grounds that Hong Leong’s $1.6...
KKR may take Singaporean abalone producer
US buyout firm Kohlberg Kravis Roberts & Co (KKR) is reportedly in discussions to acquire Oceanus Group, the Singapore-listed abalone farmer, for a deal which may be worth around $500 million, Reuters reported.
CVC eyes Philippine bank stake - reports
CVC Asia Pacific is reportedly eyeing a stake acquisition in Filipino bank Rizal Commercial Banking Corp (RCBC), in line with the financial corporation’s aim to raise capital.
LVMH's L Capital officially launches $650m Asia fund
LVMH Group's private equity investment arm L Capital has launched its $650 million L Capital Asia fund, which will target consumer investment opportunities in China, India and Southeast Asian markets such as Indonesia, Malaysia and Thailand.
China Construction Bank targets Primus' EON Capital
China Construction Bank is said to be eyeing a stake acquisition in Malaysian bank EON Capital Bhd., backed by Primus Pacific Partners, and reportedly sent a letter of interest to the Malaysian central bank seeking permission to court EON’s backers...
CapAsia Invests in Kazakhstan Electricity Utility
Singapore-based private equity infrastructure investor CapAsia will invest $50 million in equity capital into Central Asian Power and Energy Company (CAPEC), a power company in Kazakhstan.
KKR inks largest-ever PE deal in Vietnam
Vietnam's status as a rising star in Asia’s private equity landscape was validated this week when KKR brokered the largest-ever PE deal in the market, acquiring a 10% stake in Masan Consumer Corporation for $159 million.
Cargill to raise Asian food fund says report
Cargill’s private equity arm, Black River Asset Management, is planning to raise a $400 million fund focused on the food in Asia, reports Reuters. According to the article, the proposed fund, called Black River Capital Partners (Food) Fund, has already...
KKR brokers largest PE deal in Vietnam
KKR has completed the largest-ever private equity deal in Vietnam, buying a 10% stake in Masan Consumer Corporation, a division of domestic private-sector powerhouse Masan Group, for $159 million.
Malaysia and the rest of ASEAN
I was recently in Malaysia last week and got a chance to catch up with a number of old friends in Kuala Lumpur about the local private equity industry, which has been getting a bit of ink from the press lately as a result of Affinity Equity Partners and...
Malaysian gambling operator may be up for grabs - reports
Malaysian entrepreneur Vincent Tan is reportedly considering the sale of a 49% stake in the unlisted gaming unit of Berjaya Sports Toto Bhd (B Toto), a holding company that owns, among its subsidiaries, assets linked to the gambling industry.
Singapore venture firms support JustCommodity
Singaporean commodity trading software solutions specialist JustCommodity Software Solutions Pte Ltd. has received an S$5.6 million ($4.5 million) investment from a consortium led by Extream Ventures Pte Ltd, a VC firm also based in the city state that...
Investors give to Bubble Motion
Mobile communications firm Bubble Motion has received a $10 million Series B financing tranche led by SingTel Group’s VC fund Innov8. Existing investors Sequoia Capital, Palomar Ventures and NGC also participated in the raise, as well as new, Singapore-based...
Malaysian’s Ekuinas raises $169m
Malaysian SWF Ekuiti Nasional Berhad (Ekuinas) has launched an RM513 million ($169.5 million) vehicle, backed by its three fund managers, that is to invest in small- to medium-sized businesses in the domestic market.
GIC opens new office in Mumbai
The Government of Singapore Investment Corporation (GIC) announced its intent to open an India office in Mumbai March 31, its eighth overseas.
Lakeshore launches Thai focused fund
Lakeshore, an investment firm led by Thai nationals, has announced the creation of Lakeshore Capital Asia Ltd, a $60 million growth capital fund manager focusing on Thailand. The fundraising is being assisted by London-based Chikusei Partners.
Lombard exits Thai paper group
The private equity firm Lombard Investments, Inc. has announced that it has sold its 23% holding in S.Pack & Print Public Company Limited, a Thai paper packaging manufacturer, to Oji Paper Company Limited, one of the largest paper production and packaging...
Navis makes first investment from Malaysian vehicle
Navis Capital Partners has made its first investment from its RM230 million ($76 million) Malaysian Growth Opportunity Fund I (MGO I), in Kinderdijk Group, a lifestyle- and baby care-product distributor and retailer.
Leopard Cambodia Fund invests in advisory firm
Southeast Asian emerging market PE investor Leopard Capital has injected $1 million from its Cambodia Fund LP into an unnamed professional advisory firm that “provides legal and tax advisory services to clients throughout Southeast Asia.”
CVCI to privatize SGX-listed firm
Citigroup Venture Capital International’s (CVCI) asset Decorative Arts Holdings has taken Singapore-listed Passion Holdings Ltd. private, for a 23.8% premium on Passion’s last trading price of S$.21.