Industrials
Buyout firms chase Warburg’s Alliance Tire stake - report
Private equity investors are said to be eying Alliance Tire Group after Warburg Pincus put a 70% stake in the Indian tire manufacturer on the block. Should the transaction go through, the price is likely to exceed $500 million, making it one of India’s...
Fidelity invests in India's Richcore Lifesciences
Fidelity Growth Partners India has invested INR300 million ($5.5 million) for a majority stake in Richcore Lifesciences, a Bangalore-based enzyme developer.
Apax exits IEE to Chinese investors
Apax Partners has agreed to sell Electronics & Engineering (IEE), a Luxembourg-based developer of specialized sensing systems, to a consortium comprising Chinese strategic investors and an international financial investor.
Wanxiang-backed fund exits D&R to strategic buyer
Summit Strategic Investments, a private equity fund controlled by Chinese auto parts manufacturer Wanxiang Group, has exited US-based D&R Technology to CTS Corporation.
CanBank Venture backs India’s Vinyas Innovative Technology
Canbank Venture Capital Fund, the PE unit of Canara Bank, has invested INR100 million ($1.8 million) in Mysore-based electronic manufacturing services firm Vinyas Innovative Technologies.
Navis, Rabo exit Thai duck processor
Navis Capital Partners and Rabo Capital have exited Thai duck processing firm Bangkok Ranch, plus its Dutch subsidiary Duck To Holdings, to a consortium led by the companies’ founders. The deal values the combined assets at THB5.7 billion ($188 million).
Korea’s EQ Partners supports ArcelorMittal deal – report
South Korean private equity firm EQ Partners is said to be part of the Asian consortium that has acquired a 15% stake in ArcelorMittal Mines Canada (AMMC) for $1.1 billion. Other investors include South Korean steelmaker Posco and Taiwan’s China Steel...
Founder of SAIF-backed NVC Lighting sells a 12% stake
Wu Changjiang, founder and former chairman of NVC Lighting Technology Corp, a Hong Kong-listed lighting company backed by SAIF Partners, has agreed to sell close to two-thirds of his stake to Elec-Tech International (HK), another China-based lighting...
Zoomlion's PE backers exit CIFA holdings for $236m
Chinese construction equipment maker Zoomlion has paid $236 million for equity interests held by Hony Capital, Goldman Sachs and Mandarin Capital Partners in the business unit that was used to buy Italy’s Compagnia Italiana Forme Acciaio (CIFA) in 2008.
CHAMP Ventures exits Australian Portable Buildings
CHAMP Ventures has agreed to sell Australian Portable Buildings (APB) to two Canadian companies, Black Diamond Group and Britco, for A$72.5 million ($75.2 million). The Australian private equity firm acquired a near 80% stake in the company in February...
Abax, chairman complete $364m Fushi Copperweld take-private
Abax Global Capital has finally completed its management buyout of NASDAQ-listed Chinese wire manufacturer Fushi Copperweld more than two years after the initial bid was submitted. The transaction, staged in conjunction with Li Fu, Fushi’s chairman...
Rabo targets $250m for second India agribusiness fund
Rabo Equity Advisors is targeting $250 million for its second India agribusiness fund, more than double the $120 million raised for its debut vehicle in 2008. The larger corpus means Rabo’s typical transaction size will increase to $25 million from...
Lafarge in talks with PE to sell part of India business
Lafarge is in talks with private equity and financial firms to sell 20-25% of its India unit for about $300 million. The divestment is part of a wider effort from the French cement maker to divest non-core assets and reduce debt levels to below EUR10...
China’s Weichai could raise Kion stake to one third
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, has obtained the option in increase its stake in German forklift truck maker Kion to one third. The company owns 25% of the business and already has an option...
Baird invests in Singapore’s Boston Plastics
Baird Capital Partners Asia has invested in Singapore plastic injection molding company Boston Plastics. It acquired shares from individual investors and company management, with the latter retaining majority control of the business.
Templeton invests in China’s Tongda Group
Franklin Templeton has acquired a 6.3% stake in Tongda Group Holdings, a Chinese manufacturer of high-precision components used in consumer electronics products. The investment was made through Templeton Strategic Emerging Markets Fund IV, which targets...
Temasek invests $104m in Godrej’s agribusiness unit
Temasek Holdings has paid INR5.72 billion ($104.5 million) for a 19.99% stake in Godrej Agrovet, an agribusiness subsidiary of Godrej Industries. The deal comprises primary and secondary tranches, with the former earmarked to support Godrej Agrovet’s...
IFC exits India's Kanoria Chemicals
International Finance Corporation (IFC), the World Bank's private investment arm, has sold its 10.88% stake in India’s Kanoria Chemicals, exiting at a small profit.
Hony invests in China International Marine Containers
Hony Capital has secured a 5.16% stake in China International Marine Containers (CIMC), the state-owned container producer that intends to shift its listing from China's B-share market to the Hong Kong Stock Exchange.
CNEI leads $23m investment in China Dadi Chemical
China New Enterprise Investment (CNEI) has led a $23 million round of funding for China Dadi Chemical, a leading industrial salt and salt chemicals producer. Korea Development Bank was a co-investor in the deal.
PE-backed AAG Energy pulls Hong Kong IPO
Asian American Gas (AAG) Energy, a Chinese natural gas producer backed by Warburg Pincus and Baring Private Equity Asia (BPEA), has postponed its Hong Kong IPO due to challenging market conditions. The company started pre-marketing for the up to $200...
Asia Awards: PE Deal of the Year – Tianhe Chemicals
Morgan Stanley Private Equity Asia had to overcome trust issues and intense competition to secure its $300 million investment in Tianhe Chemicals. Chief Investment Officer Homer Sun explains how it happened
Asia Awards: Exit of the Year – King’s Safetywear
Navis Capital Partners' acquisition of King’s Safetywear in 2008 didn’t happen at an opportune time. One week after the firm completed its $62 million take-private deal and de-listed King’s from the Singapore Stock Exchange, Lehman Brothers collapsed...
Goldman Sachs in partial exit from Geely
Goldman Sachs has sold 600 million shares of Hong Kong-listed Geely Automobile Holdings in a deal worth $254 million. The shares were divested after the private equity investor exercised a combination of convertible bonds and warrants.