Sectors
PE giants exit AMC to Chinese investor
Dalian Wanda Group’s ambitions appear to know no bounds. Last week the conglomerate completed what could be the largest ever Chinese takeover of a US company, paying $2.6 billion for AMC Entertainment. Wanda’s goal is to unite AMC’s movie theater chain...
Fairbridge buys Thomas Cook India for $150m
Thomas Cook has now sold its India business twice in the space of six years. The asset was first offloaded to Dubai Financial in 2005 as a package deal including licenses to operate the brand in the Middle East, as Thomas Cook divested non-core assets...
Energy investing: Keeping Asia's lights on
North American PE firms have become established oil and gas investors. Asian GPs are only just coming around to the idea, but the long-term potential is huge – provided you hire the right management
Apax, Darby in talks to invest in Kurlon
Buyout out house Apax Partners and Darby Overseas Investments are said to be in advanced talks to acquire a minority stake in Indian mattress manufacturer Kurlon.
GA sells Gavilon stake to Japan's Marubeni
General Atlantic (GA) has sold its stake in US grain trader Gavilon to Japanese trading house Marubeni Corp, in a deal that values the company at an enterprise value of around $5.3 billion.
Reliance Capital backs kitchen appliance manufacturer
Reliance Capital has acquired a 13.71% stake in Butterfly Gandhimathi Appliances for INR1 billion ($18 million) via its Reliance Alternative Investments Fund.
Goldman Sachs invests in Alok Industries, CORE Education
Goldman Sachs has invested in Indian real estate asset Alok Industries and education solutions provider CORE Education & Technologies through two PIPE transactions.
Reliance Infratel buyout on the rocks
The Carlyle Group and The Blackstone Group’s proposed buyout of Reliance Communications’ telecoms tower unit looks to be in a state of limbo as the Indian firm said the sale can only proceed following clarification from the regulatory authorities.
India's Voicetap to raise capital from venture capital
Voicetap, a technology startup focused on mobile-education, has received $1 million from private investors. It is also in talks with other venture capital funds in the US, Singapore and India to raise $7 million over the next few months.
Baring-backed Yongda abandons Hong Kong IPO
China Yongda Automobile Services, the leading BMW dealership in China, has shelved its $433 million Hong Kong IPO due to weak equities markets. It is the biggest listing to be withdrawn in Asia this year.
China encourages private investment in banking sector
China will allow private capital to invest in banks on an equal footing to other forms of capital. The move, which in theory will see substantial barriers to PE involvement in the industry, comes as the government opens up certain state-controlled and...
Private equity firms target $500m for Myanmar investments
Leopard Capital and Cube Capital are among the Asian private equity firms looking to raise nearly $500 million for investments in Myanmar. It is hoped that the removal of trade sanctions imposed on the Southeast Asian nation will create opportunities...
IFC may back IPO of Khazanah's healthcare arm
International Financial Corp (IFC), the private investment arm of the World Bank, is planning to invest in the proposed $1.5 billion IPO of Malaysia's Integrated Healthcare Holdings (IHH), which is owned by Khazanah Nasional.
Navis gets full control of Indian restaurant chain Nirula's
Malaysia-based private equity firm Navis Capital Partners has acquired the remaining shares it did not already own in Indian restaurant chain Nirula's Corner House.
Lazard-backed Hastie Group enters administration
Hastie Group, the Australian engineering company backed by Lazard, has entered into voluntary administration after recapitalization talks failed. It comes after recapitalization talks failed due to “accounting irregularities” led to a profits charge of...
CVC to cut Formula One stake to 30% after Singapore IPO
CVC Capital Partners will reportedly reduce its shareholding in Formula One to around 30% following the motor racing business’ planned IPO in Singapore, which aims to raise up to $3 billion.
L&T Infra to raise $250-300m from PE investors
L&T Infrastructure Development Projects (L&T IDPL) is in talks with private equity investors to raise $250-300 million.
Carlyle plan to sell Ta Chong to Yuanta fails
The Carlyle Group will not be selling its 40% stake in mid-sized Taiwanese lender Ta Chong Bank to Yuanta Financial, as the prospective buyer withdrew its T$37 billion ($1.25 billion) bid for the asset.
Cerberus' Aozora sale stalled
Ceberus’ attempt to exit Aozora Bank faces a fresh obstacle in the shape of the Japanese government, which is on the cusp of becoming a major shareholder. The US private equity firm made its original investment in the Japanese lender more than 10 years...
CIC poised to invest $2b in Alibaba Group – report
China Investment Corp. (CIC) may take a $2 billion stake in Alibaba Group in order to finance the Chinese internet company’s purchase of a 20% stake in itself from Yahoo. Last week, Alibaba agreed to purchase half of Yahoo’s 40% holding for $7.1 billion...
L Capital pulls out of deal to buy India's Lilliput Kidswear
L Capital, the private equity arm of luxury group LVMH, has pulled out of the running to buy Lilliput Kidswear, according to the Indian clothing manufacturer's founder. The deal was expected to value the company at INR11 billion ($197 million), with L...
Asahi says it paid too much for PE-backed Independent Liquor
Asahi Group is re-examining the terms of its NZ$1.5 billion ($1.27 billion) acquisition last year of Independent Liquor from Pacific Equity Partners (PEP) and Unitas Capital, suggesting there were differences in understanding between the buyer and sellers...
Xander invests $600m in real estate platform
Emerging markets private equity firm Xander Group has channeled a $600 million investment into Indian retail real estate asset platform Virtuous Retail.
Crest Capital acquires 51% of Australia's Questus
Singapore-based Crest Capital Asia has agreed to recapitalize Western Australia’s Questus in exchange for a 51% stake in the investment company.