Industrials
MSPEA in $293m Korea construction materials carve-out
Morgan Stanley Private Equity Asia (MSPEA) has acquired a construction materials business from a subsidiary of South Korean conglomerate Hanwha Group in a deal worth KRW300 billion ($293.4 million), including debt.
Next-owned Hirepool seeks up to $227m in NZ IPO
Hirepool Group - a New-Zealand equipment rental firm owned by Next Capital - is to raise up to NZ$262 million ($227 million) in what is likely to be one of New Zealand's largest listings this year.
Carlyle-backed China Forestry set for restructuring
China Forestry Holdings, a Hong Kong-listed timber company whose investors include The Carlyle Group, plans to negotiate a debt restructuring with creditors after defaulting on $180 million in senior notes.
Bain makes partial exit from India’s Hero MotoCorp
Bain Capital has made a partial exit of roughly one third of its holding in MotoCorp, India’s largest motorcycle and scooter manufacturer, selling the stake for approximately INR14.8 billion ($248 million).
Australia's EMR Capital invests $12m in phosphate explorer
EMR Capital, an Australian resources-focused private equity firm, will invest A$12.75 million ($12 million) in Australian Securities Exchange-listed potash explorer Highfield Resources.
Portfolio: CHAMP Ventures and H-E Parts
CHAMP Ventures invested in H-E Parts to support expansion in Australia. As the only independent after-market parts provider of scale, the company is targeting miners that want to reduce their maintenance costs
MSPEA wins approval for Yongye take-private
A take-private bid for Chinese nutrients company Yongye International, supported by Morgan Stanley Private Equity Asia (MSPEA), has won shareholder approval. The NASDAQ-listed firm is now set to de-list.
Next-backed Hirepool confirms IPO plans
Hirepool, a New Zealand equipment rental business backed by Next Capital, has confirmed its plans for an IPO.
China's CNEI in health products play
China New Enterprise Investment (CNEI) has invested $10.5 million Qinghai Weide Special Sugar (Weide), a Chinese producer of nutritional additives.
Yunfeng, CITIC PE seal $320m China dairy investment
Yunfeng Capital and CITIC Private Equity have agreed to invest at least RMB2 billion ($320.5 million) in an unlisted farming subsidiary of Chinese dairy producer Inner Mongolia Yili Industrial Group.
PE consortium to build hog farms with China’s COFCO Meat
KKR, Baring Private Equity Asia, Hopu Investments and Boyu Capital will invest in COFCO Meat, a subsidiary of Chinese agricultural conglomerate COFCO Group, to develop hog farms and meat processing plants.
INCJ to invest $8m in Japan's Microwave Chemical
The Innovation Network Corporation of Japan (INCJ) will invest JPY800 million ($7.8 million) in Microwave Chemical (MWC), a Osaka University start-up seeking to commercialize innovative chemical processes using microwaves.
MSPEA-backed Tianhe targets $818m Hong Kong IPO
Tianhe Chemicals Group, a Chinese specialty chemicals maker backed by Morgan Stanley Private Equity Asia (MSPEA), is seeking to raise up to $818 million through a Hong Kong IPO.
Clearwater in partial exit from India's Diamond Power Infra
Asia special situations investor Clearwater Capital Partners has part-exited India's Diamond Power Infrastructure by selling a 5.5% stake for INR271 million ($4.57 million) via an open market transaction.
3i exits auto parts firm to Chinese buyer, nets 2x return
3i has sold Hilite International, a German suppler of auto engine and transmission parts, to China's AVIC Electromechanical Systems for EUR473 million ($643.8 million), generating a 2.1x return.
Clearwater sells jack-up rig to Middle East buyer
Asia special situations investor Clearwater Capital Partners has sold a jack-up rig built in a Singapore shipyard to a drilling services partnership between the Saudi Arabian government and Schlumberger.
KKR agrees $1.1b deal for Singapore's Goodpack
KKR has agreed to buy Goodpack, the world’s largest manufacturer of intermediate bulk containers (IBCs), for S$1.4 billion ($1.1 billion). It plans to delist the company from the Singapore exchange.
Japan Industrial Solutions invests $98m in Unitika
Turnaround specialist Japan Industrial Solutions (JIS) has agreed to acquire a stake in listed textiles manufacturer Unitika for JPY10 billion ($98 million).
PEP-owned Spotless raises $919m in Australia IPO
Shares in Pacific Equity Partners-owned cleaning and catering contractor Spotless Group opened at a 9.4% premium to the IPO price on the first day of trading in Sydney following a A$994.6 million ($919 million) offering.
China Soft Capital, Yangquan Coal form $480m industry fund
China Soft Capital (CSC) and Yangquan Coal Industry Group have launched an industry buyout fund with a target of RMB3 billion ($480 million).
China’s Hopu to invest in Russian mining project
Hopu Investments has teamed up with Baikal Mining (BMC) to jointly develop a copper deposit in the eastern Russia region of Zabaikalsky, which borders China and Mongolia.
KKR in talks to buy Singapore packaging company - report
KKR is said to be in advanced talks to buy Goodpack, the world’s largest manufacturer of intermediate bulk containers. The Singapore-listed company has a market capitalization of around S$1.3 billion ($1.1 billion).
Kerogen invests $100m in Kurdistan oil developer
Hong Kong-based energy investor Kerogen Capital has invested $100 million in HKN Holding, which owns HKN Energy, an oil and gas developer with an exclusive focus on Kurdistan.
DBJ invests $14m in Japan's Diamond Electric
The Development Bank of Japan(DBJ) has invested JPY1.5 billion ($14 million) in Diamond Electric, a Tokyo-listed electronic devices manufacturer, for a 49.5% a stake.