Industrials
Hong Kong Aircraft Engineering buys Timco from Owl Creek for $389m
Hong Kong Aircraft Engineering (HAECO), a listed aircraft maintenance provider controlled by Swire Pacific, has agreed to buy US-based Timco Aviation Services for $388.8 million from hedge fund operator Owl Creek Asset Managers.
CITIC oils Stackpole's China wheels
The oil pumps use to lubricate engine parts and reduce friction come in two forms: fixed and variable. The first are usually oversized to handle the harshest operating conditions and therefore deliver higher average oil pressure and consume more power...
MSPEA set for partial exit as Hyundai Rotem IPO raises $585m
Hyundai Rotem, a train manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), will complete the fourth-largest IPO ever executed on the Korea Exchange and the biggest in more than three years. The offering will generate proceeds of KRW622.4...
Blumont receives $200m injection to support Discovery Metals investment
Blumont Group has received $200 million in new funding from New York-based investment firm Platinum Partners, half of which will be used to buy convertible bonds in Australian copper miner Discovery Metals, previously a target of Chinese private equity...
South Korea's Troika Resources, Canada's Bellatrix form oil JV
Bellatrix Exploration, a small Canadian oil and gas explorer, has formed a C$240 million ($231 million) joint venture with the South Korea's Troika Resources Private Equity Fund (TRPEF) - which is managed by KDB Bank, SK Energy and Samchully Asset Management...
CITIC Capital, Crestview buy machinery supplier Stackpole
CITIC Capital Partners has teamed up with New York-based Crestview Partners to buy Stackpole International, a North American machinery supplier, from Sterling Group and Current Capital. The transaction value was not disclosed but it is reportedly $512...
Oaktree agrees tanker deal with Singapore's Navig8
Oaktree Capital Management and Singaporean shipping management firm Navig8 have agreed to form a shipping joint venture, Navig8 Chemical Tankers.
CIC agrees $1.3b debt-for-equity swap with Bumi Resources
China Investment Corporation (CIC) has agreed a debt-for-equity swap worth $1.3 billion with embattled Indonesian miner Bumi Resources.
Goldman to raise up to $315m in Geely Auto sell down
Goldman Sachs Principal Investment Area, an investment unit of Goldman Sachs, plans to sell-down its entire stake in Hong Kong-listed Geely Automobile Holdings, raising up to HK$2.44 billion ($315 million).
KKR, CDH go greenfield in China
KKR isn’t known for backing start-ups, but the risks associated with the firm’s recent foray into dairy farm ownership in China are tempered by the presence of familiar partners. For its first control deal in China and its first greenfield deal globally,...
MSPEA completes quiet Korea acquisition
Morgan Stanley Private Equity Asia’s (MSPEA) investment in Ssangyong C&B and Monalisa is like an iceberg: only one sixth was immediately visible. When the deal was first announced earlier this year, the information disclosed concerned a South Korean listed...
Ant Capital invests $11m in construction software firm Kozo Keikaku
Japanese private equity firm Ant Capital Partners has agreed to acquire a 30.4% stake in Japan-listed construction software developer Kozo Keikaku Engineering from existing shareholders for JPY1.15 billion ($11 million).
CIC takes 12% stake in Russian potash producer
China Investment Corp. (CIC) is now the second largest shareholder in Russia's Uralkali - the world's biggest potash producer - after it converted bond holdings into equity equivalent to a 12.5% stake.
MSPEA-backed privatization of Yongye wins board approval
A $339 million management buyout offer for Yongye International, supported by Morgan Stanley Private Equity Asia (MSPEA), has won board approval. The US-listed Chinese animal and plant feed maker is now set to be taken private, pending a shareholder vote....
GEF invests $12m in India's Rishabh Instruments
Global Environment Fund has invested INR750 million ($11.98 million) in Industrial Control Products maker Rishabh Instruments (RI), through its small and medium-sized enterprises-focused South Asia Clean Energy Fund (SACEF).
Axa-owned Novacap chemicals group makes China acquisition
AXA Private Equity-backed French chemicals group Novacap, is to acquire a majority stake in Taixing Yangzi Pharm Chemical (Yangzi), one of the leading Chinese producers of a chemical mainly used for the production of paracetamol. Financial terms of the...
MSPEA-backed Hyundai Rotem to raise up to $575m in IPO
Hyundai Rotem, a South Korean train maker backed by Morgan Stanley Private Equity Asia (MSPEA), intends to raise as much as KRW622.4 billion ($575 million) in what is set to be the country's biggest IPO so far this year.
ADB to invest $245m in Pakistan's power sector
The Asian Development Bank (ADB) will invest $245 million to improve Pakistan’s power distribution systems. The capital, structured as a loan, is the third tranche of the bank's Power Distribution Enhancement Investment Program.
CHAMP, Headland seek full acquisition of Miclyn Express Offshore
CHAMP Private Equity and Hong Kong's Headland Capital Partners have offered to buy the 24.8% of oil and gas services group Miclyn Express Offshore (MEO) they do not own for around A$150 million ($137 million).
INCJ invests $6m in Japan's UniZeo
The Innovation Network Corporation of Japan (INCJ) has invested JPY600 million ($6 million) in UniZeo, a Japanese company which is focused on commercializing new methods of producing synthetic zeolite.
Korea launches fund class to support overseas contractors
South Korea plans to launch specialist private equity funds as a means of encouraging financial institutions to support local firms competing for overseas construction contracts. The government hopes that $8.6 billion can be raised through these funds...
Longreach completes precision drilling carve-out from Hitachi
North Asia mid-market buyout firm The Longreach Group has agreed to buy precision drilling business Hitachi Via Mechanics (HVM) from Japanese conglomerate Hitachi. It is said to be the first time Hitachi has divested a sizable asset to private equity...
Phillip Capital takes stake in Indonesian equipment finance business
Singapore-based Phillip Capital Group has acquired a 9.71% stake in Intan Baruprana Finance (IBF), the financing arm of Indonesian heavy equipment distributor Intraco Penta, through a rights issue. Transaction value was not disclosed.
IMM, Mirae forge POSCO steel investment
POSCO Specialty Steel (PSS) CAME into being 1997 when steelmaker POSCO bought most of manufacturing facilities of Sammi Specialty Steel, one of a host of Korean corporates struggling to service its debts in the midst of a credit crisis.