Industrials
China's CDH agrees Nanfu Battery carve-out from P&G
CDH Investments has agreed a buy Fujian Nanping Nanfu Battery, China’s leading manufacturer of alkaline batteries, from Procter & Gamble (P&G) in one of the largest PE corporate carve-outs ever seen in the country.
MSPEA-backed Tianhe drops on resumption of trading
Morgan Stanley Private Equity Asia (MSPEA) portfolio company Tianhe Chemicals saw its stock drop 43% on resumption of trading in Hong Kong following allegations of fraud. Tianhe issued a lengthy rebuttal of the allegations, while simultaneously announcing...
Portfolio: First Reserve and KrisEnergy
In backing oil and gas start-up KrisEnergy, First Reserve put its faith in a rare commodity in Southeast Asia – an independent team that knows where the plumb assets are and how to access them
SCPE ready to bet big on Vietnam
Private equity investors have committed an annual average of $364 million to Vietnam-based companies over the past 10 years. In the space of three weeks, Standard Chartered Private Equity (SCPE) alone has deployed over one third of this total.
Permira in talks to sell Arysta to Platform Specialty – report
Arysta LifeScience, the Japanese agricultural chemicals maker owned by Permira that last month filed for a US IPO, is said to be in talks with Platform Specialty Products over a potential acquisition.
IFC to invest $100m in India’s Bilt Paper
International Finance Corporation (IFC) has agreed to acquire a 14.29% stake in Bilt Paper, a subsidiary of Indian paper manufacturer Ballarpur Industries, for $100 million.
Shaw Kwei invests $17m in Singapore marine logistics firm
Greater China and Southeast Asia-focused private equity firm Shaw Kwei & Partners has paid $17 million for a 60% stake in Singapore marine logistics firm Amos International.
Southern Capital agrees $180m Singapore engineering carve-out
Southern Capital Group has agreed to acquire a majority stake in United Engineers’ Singapore-listed engineering and construction division for S$230.2 million ($180 million) in cash.
China's CIC in $311m partial exit from Noble Group
China Investment Corporation (CIC) has made a partial exit from Singapore-listed agriculture and energy supply chain manager Noble Group, generating proceeds of S$396 milion ($310.6 million).
Affinity backs poultry producer in debut Malaysia deal
Affinity Equity Partners has secured its debut Malaysia investment after agreeing to buy a significant minority stake in poultry producer Leong Hup International in a deal that values the company at around $600 million excluding debt.
SCPE invests $90m in Vietnam agribusiness player
Standard Chartered Private Equity (SCPE) has completed its second Vietnam deal in the space of a month, paying $90 million for a significant minority stake in agribusiness player An Giang Plant Protection (AGPP).
Japan's J-Star sees 8x return with first secondary exit
Japanese investor J-Star has exited Burn Holdings, a local repair business that primarily serves property developers, to Shinsei Corporate Investment and Creation Capital. The gross return multiple is said to be 8x.
Boyu joins Chinese consortium for $2.5b GLP investment
Boyu Capital and several Chinese strategic investors have joined a consortium that has committed $2.5 billion to Global Logistic Properties (GLP), a Singapore-listed warehouse operator.
New Zealand’s Nuplex in asset sale talks with CHAMP PE
CHAMP Private Equity is in talks with New Zealand-based chemicals manufacturer Nuplex Industries over the potential acquisition of its distribution and plastics additives businesses.
Tata Capital to buy minority stake in Standard Greases
India's Tata Capital is to acquire a 17.36% stake in Mumbai-based Standard Greases & Specialities for an undisclosed sum.
Global Environment Fund backs India's Shakti Pumps
Global Environment Fund (GEF) has agreed to invest INR450 million ($7.4 million) in Indian submersible water pump manufacturer Shakti Pumps.
Aggressive demand for aggressive chemicals
Tankers used to ship chemicals require a degree of customization. Smaller than normal tankers, they are divided into self-contained compartments so that cargoes can be loaded without any mixing. There may also be specialized heating systems to keep chemicals...
KKR completes privatization of Singapore's Goodpack
KKR has completed the S$1.4 billion ($1.1 billion) acquisition of intermediate bulk container (IBC) manufacturer Goodpack. The company delisted from the Singapore Exchange on September 15.
India's Power2SME raises $7m Series C round
Power2SME, an Indian group buying start-up, has raised a INR420 million ($6.87 million) Series C round from existing investors Accel Partners, Kalaari Capital and Inventus Capital.
Tianhe denies fraud allegations, MSPEA offers full support
Tianhe Chemicals has issued a point-by-point rebuttal of allegations that it made false statements in its IPO prospectus, with second-largest investor Morgan Stanley Private Equity Asia (MSPEA) declaring its full support.
PE group invests in Sinopec fuel retail unit
A group of private equity investors, including CICC Capital, RRJ Capital and Hopu Investment Management, have invested in Hong Kong-listed Sinopec as the Chinese oil refiner agreed to sell a RMB107.1 billion ($17 billion) stake in its retail business.
PE-backed Snowman jumps 67.5% on India debut
Snowman Logistics - the PE-backed cold chain unit of Gateway Distriparks - gained 67.5% on its first day of trading on the Bombay Stock Exchange.
SCPE, Tiger Group invest $95m in chemical tanking venture
Standard Chartered Private Equity (SCPE) and specialist maritime investor Tiger Group Investments have agreed to commit $95 million to Greathorse Chemical, which owns and operates a fleet of chemical tanker vessels.
Permira-owned Arysta LifeScience files for US IPO
Arysta LifeScience, the Permira-owned Japanese agricultural chemical maker, has filed for its US IPO with a view to raising as much as $500 million.