buyout
Baring Asia-owned Nord Anglia completes WCL bolt-on
Nord Anglia Education, an international schools operator owned by Baring Private Equity Asia, has completed the bolt-on acquisition of WCL Group for $222 million. The deal strengthens Nord Anglia’s presence in North America and the Middle East, taking...
Hahn & Co. to buy stake in South Korea’s STX Energy - UPDATE
Hahn & Co. has agreed to buy a 43.15% stake in STX Energy, a subsidiary of beleaguered South Korean conglomerate STX Corp. AVCJ understands that the transaction a couple of months away from completion, and the terms could change pending the resolution...
Quadrant-backed Virtus Health launches IPO
Quadrant Private Equity-owned in-vitro fertilization (IVF) business Virtus Health launched its IPO road show on Monday. It is poised to be the largest equity offering since SCA Property in November last year and the biggest significant private equity-backed...
Focus Media's PE-backed MBO clears final hurdle
Focus Media will be privatized next month after shareholders voted in favor of a private equity-backed management buyout that values the company at $3.7 billion. It is the largest buyout transaction ever completed in China.
Fosun Pharma, Pramerica-Fosun buy Israel’s Alma Lasers
Shanghai Fosun Pharmaaceutical, a subsidiary of China’s Fosun International, and the Pramerica-Fosun China Opportunity Fund, will be around $240 million to acquire up to 95.6% of Israel-based Alma Lasers.
CITIC, CDH generate 4x return through China auto parts exit
CITIC Capital Partners and CDH Investments Management have exited Chinese auto components manufacturer Nanjing Aotecar to a domestic buyer. According to sources familiar with the transaction, CITIC has secured an approximately 4x money multiple on an...
CVC, MBK among final bidders for ING Korea unit - report
CVC Capital Partners and South Korean PE firm MBK are among the last five bidders to begin preliminary due diligence as they consider an offer for at least 51% stake in the Korean unit of Dutch insurance firm ING Groep.
CITIC-backed consortium sweetens deal for China 3SBio take-private
A consortium backed by CITIC Private Equity has raised its offer for the Chinese biotechnology company 3SBio to around $370 million.
Haves and have nots
It probably comes as no surprise to most readers that Asia Pacific fundraising in the first quarter of 2013 was much slower than in the past. When I covered the tough fundraising conditions in the March 18 viewpoint, I observed that the market is divided...
Lunar takes the bull by the horns
Nothing transforms the fortunes of a start-up quite like a celebrity endorsement. Twenty-five years ago, former Chinese President Hu Jintao, then still a rising star in the Communist Party, visited Yonghong, a family-owned beef jerky producer based in...
Aquiline Capital completes acquisition of UK's Equity Insurance Group
Aquiline Capital Partners, a New York-based PE firm focusing on investments in the financial services space, has completed its GBP87 million ($140 million) acquisition of UK motor insurer Equity Insurance Group (EIG) from ASX-listed Insurance Australia...
CalSTRS commits to FountainVest, Bain Asia funds
The California State Teachers’ Retirement System (CalSTRS) committed $120 million to Asia-focused GPs during the final three quarters of 2012, according to a recent disclosure. The pension system also revealed that its private equity portfolio delivered...
1Q analysis: Hard times
Mixed fortunes for Asia buyout funds on the road; large-cap deals weaken, but venture capital activity is on the rise; exits one of few bright spots thanks to spurt in trade sales
PE firms seek partnerships with Korean corporates - AVCJ Forum
Private equity firms are best served working with South Korean conglomerates rather than competing against them for assets, with collaborative efforts to secure overseas assets a strong potential source of deal flow, industry participants told the AVCJ...
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...
Carlyle hires UBS banker to open Indonesia office – report
The Carlyle Group plans to become the first global buyout firm to open an Indonesia office and has hired a banker from UBS to lead its efforts in a country that has so proved difficult to navigate for many larger PE players. Carlyle completed its first...
Advent International opens China office
Advent International has opened its first China office in Shanghai. Advent China will work on local investments the PE firm's core sectors of chemicals, healthcare, retail, consumer and leisure.
Sycamore proceeds on Billabong buyout with knockdown $300m offer
A consortium supported by US-based Sycamore Partners will enter exclusive negotiations to buy Australian surfwear company Billabong, but any deal will be priced at a substantial discount to the original offer tabled last December.
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.
Q&A: Vogo Investment's Jason Shin
Jason Shin, managing partner of Vogo Investment, explains why South Korean company owners’ preference for local partners goes well beyond foreign private equity’s well publicized scrapes
A multi-faceted market
Of readers who have been following Asia’s private equity markets for some years, few would contest South Korea’s place as one of the more important locations for international investors. After all, apart from maybe Australia, it has been the region’s...
Korea buyouts: Young pretender?
South Korea was the only significant PE market in Asia to see an uptick in deal flow last year. Investors have high expectations; uncertainty among local conglomerates – and local GPs – could make or break them
Chaebol cross-shareholding: David and Goliath
Removing cross-shareholding structures that hold Korea’s conglomerates together, and arguably suffocate competition, is key to economic democratization. But will it happen and what would it mean for PE?