buyout

FLAG buys Asian fund-of-funds Squadron Capital

Asia-focused fund-of-funds Squadron Capital has been sold to FLAG Capital Management. The acquisition will take US-based FLAG’s assets under management to $6 billion, up from $4.5 billion, and broaden its product offering across private equity, venture...

CHAMP Ventures in marine logistics buyout

CHAMP Ventures as acquired a majority interest in Sea Swift, an Australian marine logistics company that delivers supplies to remote island and coastal communities and resource development outposts. HarbourVest Partners is participating as a co-investor....

CHAMP PE-backed oOh!media walks away from Eye Corp buyout

CHAMP Private Equity’s oOh!media portfolio company has decided not to proceed with its buyout of Eye Corp, Ten Network Holdings’ outdoor advertising business. This comes despite Ten’s denial earlier this week that the acquisition price would be lowered...

TPG abandons Billabong buyout

TPG Capital has withdrawn its A$694 million ($709 million) buyout offer for Billabong, sending the Australian surfwear company’s stock plunging more than 16%. The announcement comes days after Billabong insisted that negotiations were continuing despite...

CVC-backed Nine makes new restructuring proposal

The management of Nine Entertainment, the beleaguered Australian media company owned by CVC Capital Partners, has put forward a new proposal for restructuring its A$3.8 billion ($3.9 billion) in debt. Adrian McKenzie, CVC’s Australian managing partner...

Asian PE fundraising slips in 3Q as RMB vehicles struggle

Asian private equity fundraising reached $10.8 billion in the third quarter of 2012, continuing a downward trend that stretches back 12 months, according to provisional data from AVCJ Research. Renminbi-denominated fundraising experienced the most acute...

Longreach eyes corporate carve-outs

After more than 800 days in the market, Longreach Capital Partners 2 reached a final close on September 30. It has been a challenging process that required the target corpus to be scaled back from $750 million to $400 million – but the fund is also largest...

Morgan Stanley supports Feihe International MBO bid

Morgan Stanley Private Equity Asia (MSPEA) has teamed up with the chairman and CEO of Feihe International to make a buyout offer for the US-listed Chinese company. The transaction values Feihe, a leading producer of infant formula and milk powder, at...

PE marginalized on Japan restructuring

The outbound trend sweeping through Japanese private equity owes a partial debt to last year’s earthquake, tsunami and subsequent nuclear crisis. Yes, the economic, demographic and industrial arguments for overseas expansion have been coalescing for years,...

Actis in Chinese casual dining MBO

Networks count, and nowhere more so than in China. This was especially evident during Actis’ investment in Shanghai-based casual dining chain Bellagio, announced last week.

Anchorage buys Dick Smith Electronics from Woolworths

Anchorage Capital Partners will buy Australian supermarket chain Woolworths’ Dick Smith Electronics unit for an initial A$20 million ($18 million) plus a share of any upside resulting from the private equity firm exiting the asset. The divestment comes...

Bankrupt Woongjin halts $1.1b Coway sale to MBK

MBK Partners’ KRW1.2 trillion ($1.1 billion) investment in water purifier business Woongjin Coway appears to be on shaky ground after parent company Woongjin Holdings filed for court receivership on Wednesday and put the deal on hold.

TA targets remote communication networks

Communications is clearly a favored sector for TA Associates in Asia. Earlier this week, the US-based private equity player completed the buyout of SpeedCast, a Hong Kong-based network and satellite communications service provider. Of the eight investments...

Alibaba in bumper Yahoo buyback

New and existing private equity investors acquire much-sought-after stakes in Alibaba Group as the e-commerce firm repurchases part of Yahoo’s stake in a $7.6 billion deal