Sectors
Investor consortium pays $1.6b for 5% of Alibaba
Silver Lake, Yunfeng Capital and other investors have purchased a 5% stake in Chinese e-commerce firm Alibaba Group, worth $1.6 billion. The transaction is thought to be the tender offer made to employee shareholders and option holders, as well as certain...
PEP invests $670m in SCA's Australasian arm
Pacific Equity Partners (PEP) has invested $670 million in a joint venture with Svenska Cellulosa Aktiebolaget (SCA) to develop the company’s Australasian arm, SCA Hygiene Australasia.
Q&A: First Reserve Corp's Jamie Paton
Energy-focused private equity firm First Reserve Corporation set up its first office in Asia earlier this year. Jamie Paton, managing director of the company’s Asia operations, assesses the investment landscape
Baring raises $52m in Yingde sell-down
Baring Private Equity has raised HK$402.5 million ($52 million) through the block sale of Yingde Gases shares on the Hong Kong Stock Exchange, reducing its holding in the company by one third.
Navis acquires marketing units from Australia's Photon Group
Navis Capital Partners has purchased the field marketing and retail units of Australian marketing services firm Photon Group for $146.5 million, valuing the company at 7x EBITDA. According to Photon, the completed transaction would leave the company debt...
VC-backed Lashou targets $100m in US listing
Venture capital-backed Chinese group-buying website Lashou is looking to raise up to $100 million through an IPO on NASDAQ, with the proceeds to be used to expand its operating capacity and marketing.
Navis sells King's Safetywear to Honeywell International
Navis Capital Partners has exited its undisclosed majority stake in Southeast Asian industrial footwear brand King’s Safetywear to Honeywell International for an enterprise valuation of S$430 million ($338 million).
Quadrant-backed Summerset struggles on trading debut
Summerset Group, the New Zealand retirement village operator owned by Quadrant Private Equity, saw its stock open above the IPO price of NZ$1.40 on Tuesday, although it closed marginally below it. The price slumped a further 2.84% to NZ$1.37 on Wednesday....
Harbin Electric shareholders approve MBO
Harbin Electric’s shareholders have approved a privatization bid for the company put forward by chairman and CEO Tianfu Yang and supported by Abax Global Capital. The deal, which received board backing in June, is expected to close within a week.
Owners of IT specialist Hexaware to sell their stakes
The owners of publicly listed Mumbai-based IT services provider Hexaware Technologies, which include PE firm General Atlantic, are looking to sell their stakes in the company.
PE firms back Chinese Wonton restaurant chain
Qiming Ventures, Hotung Investment and Mitsui Global Investment have committed $20 million in Series B funding to YPX Cayman Holdings, which operates casual food and beverage chain Cloud 9. The company also received personal investments from the founders...
VC-backed 6waves buys Chinese game developer Smartron5
Venture-backed social media and gaming developer 6waves Lolapps has expanded its Asian operations via the acquisition of Beijing-based gaming firm Smartron5.
Interpark-led consortium buys iMarketKorea for $378m
A consortium led by Interpark, the Korean online shopping mall operator, has agreed to purchase Samsung Group’s procurement arm iMarketKorea in a deal worth more than KRW422 billion ($378.4 million). Private equity firm H&Q and the Korea Venture Business...
IDG, Helion invest in Indian e-commerce start ups
IDG Ventures India and Helion Venture Partners have invested in two separate e-commerce start-ups sites last week, adding to the perception of India's online shopping space as an effective proxy for capitalizing on consumer and digital growth.
Yahoo tipped to sell Asian assets, pay shareholder dividend
Yahoo is likely to close the door to potential private equity suitors by divesting its Asian assets and redistributing the proceeds to shareholders. The redistribution might take the form of a special divided or share buyback.
Vogo to sell down part of its Tong Yang Life Insurance holding
Vogo Investment is planning to sell down part of its 61% stake in Tong Yang Life Insurance, a subsidiary of mid-size South Korean conglomerate Tong Yang Group.
PE-backed SkyLand starts production on China-focused movie
SkyLand, the $100 million China-focused film venture backed by Hollywood entertainment firm Relativity Media, SAIF Partners and IDG China Media, has begun production on the film "21 and Over." It is the company's first movie since announcing its partnership...
GIC takes 20% of PE-owned aircrafter leaser Avolon
The Government of Singapore Investment Corporation (GIC) has paid $300 million for a 20% stake in Dublin-based aircraft-leasing group Avolon. The company is owned by private equity firms CVC Capital Partners, Civen and Oak Hill Capitall Partners.
Blackstone sees opportunities in China's 'economic dislocations'
China’s slowing GDP growth should create “economic dislocations” that translate into acquisition opportunities for foreign investors, according to Stephen Schwarzman, chairman and CEO of The Blackstone Group.
Mitsui backs US mobile advertising platform
Mitsui & Co. has participated in a $14 million round of fundraising for US-based mobile advertising and media company 4INFO, alongside Vulcan Capital and existing investors Draper Fisher Jurveston, Gannett, Mezzanine Capital and US Venture Partners. Vulcan...
China's debt-ridden Railway Ministry to set up PE fund
China’s Ministry of Railways will set up a private equity fund to support the expansion of the rail network, 21st Century Business Herald reported, citing a source familiar with the situation. The vehicle could raise up to RMB100 billion ($15.7 billion)...
Blackstone-backed Gokaldas closes in on export contracts
Indian apparel manufacturer Gokaldas Exports, a portfolio company of The Blackstone Group, is expected to land supply contracts from Wal-Mart and nine niche European fashion houses. The move is seen as part of a wider trend under which Western buyers...
Quadrant's Summerset raises $99m through IPO
Quadrant Private Equity-owned Summerset Group, New Zealand’s third-largest retirement village operator, has raised NZ$123.6 million ($99.5 million) in the largest IPO seen in the country in two years. The company sold 88.3 million shares at NZ$1.40 apiece,...
Lone Star sells distressed Japanese golf course asset PGM
Lone Star will divest its 64% stake in distressed Japanese golf course operator PGM Holdings to pachinko pinball machine maker Heiwa Corp. for JPY39.5 billion ($521 million).