Industrials
Morgan Stanley-backed Hyundai Rotem targets IPO
Hyundai Rotem, a South Korean railway and defense systems manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has applied to the Korea Exchange for an IPO. According to local media, the company is looking to raise KRW300-400 billion ($270-360...
CanBank Venture invests $4.6m in India's Ashapura Garments
Canbank Venture Capital Fund (CVCF), the private equity unit of Canara Bank, has picked up an undisclosed stake in Gujarat-based Ashapura Garments for INR250 million ($4.56 million).
KKR pays $500m for Warburg's Alliance Tire Group stake
KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well...
CIC, ADM support buyout of Australian lithium producer
Chengdu Tianqi Industry Group, a Chinese lithium products manufacturer, has completed the acquisition of Australian miner Talison Lithium, with support from China Investment Corporation (CIC) and Hong Kong-based special situations group ADM Capital. The...
KKR to pay $500m for Warburg Alliance Tire stake – report
KKR has reportedly agreed to pay about $500 million for Warburg Pincus’ stake in Indian tire manufacturer Alliance Tire Group.
Saratoga-owned Mandala Air eyes expansion
Saratoga Capital-owned Mandala Airlines plans to quadruple the size of its fleet by 2014 in order to boost its share of a rapidly expanding Indonesian aviation market, driven by the country’s emerging middle class.
Temasek sets up dedicated LNG investment unit
Temasek Holdings has set up an investment unit dedicated to liquefied natural gas (LNG) assets. The move comes as the Singaporean sovereign wealth fund seeks to increase its energy exposure – as also evidenced through recent PE investments – in recognition...
India’s Zephyr Peacock buys 25% of pre-fab buildings maker
Zephyr Peacock India has bought a 25% stake in Pennar Engineered Building Systems (PEBS) for INR500 million ($9.19 million).
On rocky ground: PE’s Mongolia risk factor
Rich in mining resources, Mongolia has a bright economic future, but vulnerability to commodity price shocks and an uncertain political climate have made many investors wary of taking the risk
Leopard backs cross-border kenaf play
When kenaf, an Asian plant known for its short growing cycle, high protein content and strong fibers, was put to practical use, the locals made ropes. Today, its applications are expanding to encompass a wide variety of industries.
Australian trade buyer fined in Castle Harlan ‘bid rigging’ case
Australian’s Federal Court ordered engineering firm Bradken to pay $22.4 million in damages over its takeover of a Canadian mining services company Norcast that was previously bought and sold on the same day by US private equity firm Castle Harlan.
Leopard Capital's Cambodia fund commits to Engage Resources
Leopard Capital has invested an undisclosed sum in Engage Resources, enabling the kenaf-based products manufacturer to expand its operations from Thailand into Cambodia. Kenaf is a fibrous plant used in animal feed as well as in the construction and paper...
CX Partners targets May first close for India mezz fund
India’s CX Partners is aiming to raise the first round of capital for its new mezzanine fund by May.
Q&A: Ancora Capital's Veronica Lukito
Veronica Lukito, co-founder and managing director of Ancora Capital, discusses Indonesian growth, hype and myriad challenges in capitalizing on Asia's latest success story
KKR closes in on Alliance Tire buyout - report
KKR is said to be in the final stages of acquiring an 80% stake in Indian tire maker Alliance Tire Group. The deal values the company at $600 million and it will see KKR buy Warburg Pincus' entire interest in the company as well as shares from other minority...
Eredene to exit India's Ocean Sparkle
Indian infrastructure investor Eredene Capital will exit its stake in Ocean Sparkle (OSL), a Hyderabad-based port operations company, and has appointed local investment bank MAPE to handle the sale.
TPG buys Australian poultry producer Inghams
TPG Capital overcame several rival private equity and strategic bidders to acquire Australian poultry firm Inghams Enterprises. The family-owned company didn’t confirm the financial details, although it has been reported that the deal valued Inghams...
Australasian mid-market sees strong deal flow – AVCJ Forum
Private equity investors see considerable upside in Australia and New Zealand’s lower and mid-market despite fewer large deals than before the global financial crisis. This usually involves taking cash-strapped family-run businesses and improving processes...
Mitsubishi unit seeks $750m for shipping PE fund
MC Asset Management Holdings, a unit of Japanese conglomerate Mitsubishi, is seeking to raise a $750 million fund that will take advantage of depressed prices in the shipping industry.
Warburg Pincus-backed ACB India plans to raise $200m through IPO, OFS
ACB India, a coal preparation plant operator backed by Warburg Pincus, is planning to raise as much as INR11 billion ($200 million) through an IPO and offer for sale (OFS) later this month.
CapitalAsia backs Canadian copper miner
CapitalAsia has agreed to invest $1.2 million in Toronto-listed copper miner Cadillac Ventures via the Sino-Canada Natural Resources Fund.
India's Hikal raises $8m debt from IFC
Indian chemical company Hikal, part of the Kalyani Group, will receive $8 million in debt financing International Financial Corporation (IFC).
Australia’s Pacific Road in Canadian resources deal – report
Australian private equity firm Pacific Road Capital Partners is investing A$10 million ($10.2 million) in coal mining firm CoalMont to fund its mining project in Canada.
Carlyle-backed China Fishery in $277m Peruvian deal
China Fishery, an industrial fishing company part-owned by The Carlyle Group, will pay $555.8 million for Peruvian counterpart Copeinca. The acquisition will make China Fishery the largest player in the world’s largest market by volume for fishmeal...