China
Legend-owned payment platform to list via reverse merger
Lakala, a Chinese offline third-party payment services provider owned by Legend Holdings, is set to list on the Shanghai Stock Exchange through a reverse merger.
Sequoia backs China second-hand car pricing platform
Sequoia Capital has led a new funding round for Che300.com, a China-based online platform that values second-hand cars.
Alibaba acquires 4% stake in Korea's SM Entertainment
Chinese internet giant Alibaba Group has acquired a 4% stake in S.M. Entertainment, a South Korean music agency, for KRW35.5 billion ($29.8 million).
China travel site agrees Tencent-backed take-private
Chinese online hotel booking site eLong has agreed to buyout led by a consortium of existing shareholders, including Tencent Holdings and Ctrip. The deal values the company at approximately $647 million.
VIDEO: Black Soil's Chang Sun
Having spent 20 years at Warburg Pincus, during which he helped set up the firm’s China business, Chang Sun chose agriculture for his next challenge. His start-up, Black Soil, aims to bring consolidation, automation and improved productivity to a sector...
Chinese consortium to buy browser provider Opera for $1.2b
A Chinese consortium featuring Qihoo 360 Technology – which recently agreed a $9.3 billion private equity-backed take-private – is poised to acquire Norway-headquartered internet browser developer Opera Software for $1.2 billion.
China tightens domestic private fund supervision
The Asset Management Association of China (AMAC), a self-regulatory organization for the PE industry set up by the securities watchdog, has tightened rules on domestic fund managers’ registration, with a view to cracking down on financial scams.
China’s Kingsoft Cloud raises $60m
Kingsoft Cloud Group, a cloud computing unit owned by China’s Kingsoft, has raised $60 million in a Series C round of funding from a group of investors including IDG Capital Partners.
Chinese container maker buys Switzerland’s SIGG from Riverside
Zhejiang Haers Vacuum Containers, a Chinese stainless vacuum container manufacturer, has agreed to pay The Riverside Company CHF16.1 million ($16.6 million) in cash for Swiss bottle maker SIGG.
Warburg Pincus' China head to form own firm
David Li, managing director and head of China at Warburg Pincus, has resigned to set up his own company. Julian Cheng and Frank Wei have duly been appointed to lead Warburg Pincus’ China business.
CDIB Capital invests $30m in Chinese recycling firm
CDIB Capital, the PE arm of Taiwan’s China Development Financial (CDF), has invested $30 million in Anhui Dong Jin Renewable Resource Technology, a Chinese renewable resources producer.
CICC, Chinese strategic launch competing offer for Sinovac
China-based Sinovac Biotech, which earlier this week became the target of a take-private bid from its chairman and SAIF Partners, has received a competing offer from a consortium that includes China International Capital Corporation (CICC).
Beijing Enterprises to buy Germany's EEW from EQT for $1.6b
Chinese state-owned conglomerate Beijing Enterprises Holding (BEHL) has agreed to buy EEW Energy from Waste, a German waste management company, from EQT Partners for EUR1.44 billion ($1.6 billion).
Black Soil’s Chang Sun postpones China agri fundraise
Chang Sun, the former Asia managing director at Warburg Pincus who co-founded Chinese agriculture start-up Black Soil, has delayed plans to raise a $1 billion PE fund and will instead focus on individual deals.
Sequoia supports HK-listed Dongpeng Holdings take-private
Dongpeng Holdings, a Hong Kong-listed ceramic tiles maker, has received a take-private proposal from its management and existing shareholder Sequoia Capital China.
PE-backed BeiGene gains 18% on debut after $158m IPO
BeiGene, a Chinese cancer drug developer backed by Hillhouse Capital and CITIC Private Equity, closed up 18% on its first day of trading on NASDAQ following a $158.4 million IPO.
VC-backed China bus service start-up raises $26m
Dada Bus, a mobile-enabled provider of bus services in China, has raised RMB173 million ($26 million) in a round led by a Shenzhen-listed construction materials manufacturing company.
Prologis ups commitment to China logistics venture
Prologis, a global real estate investment trust (REIT), has announced an increase of $882 million in the equity commitment to the Prologis China Logistics Venture.
Apax sells stake in Tommy Hilfiger China JV
Apax Partners and other shareholders in Tommy Hilfiger Asia (TH Asia) have agreed to sell their remaining stake in the company to Philips-Van Heusen Corp (PVH), owner of the Tommy Hilfiger parent corporation, for about $172 million.
Alibaba leads $793.5m round for US-based Magic Leap
Chinese internet giant Alibaba Group has led a $793.5 million Series C round for Magic Leap, a Florida-based augmented and virtual reality (VR) technology developer.
China Merchants Bank leads $102m round for Boqii.com
China Merchants Bank has led a $102 million Series C round of funding for Boqii.com, a Chinese social network and e-commerce platform for pet owners.
China Everbright, Catalyst raise $200m for Israel fund
Catalyst CEL Fund, which is managed by Hong Kong-based asset manager China Everbright and Israel’s Catalyst Private Equity, has beaten its initial target of $200 million.
SAIF backs chairman's $345m bid for US-listed Sinovac
SAIF Partners has teamed up with the chairman and CEO of Chinese biopharmaceutical player Sinovac Biotech to submit a $345 million buyout offer for the NASDAQ-listed company.
Deal focus: Investors exit as Tsingda refocuses on domestic IPO
OCBC's mezzanine capital unit and RRJ Capital both secure nearly 3x returns as China-based Tsingda eEdu Corp positions itself for a domestic listing