Exit
EQT mulls deal for Dairy Queen, Papa John’s China franchisee – report
EQT Partners intends to buy a minority stake in RCS Group, a Chinese fast-food chain operator that owns franchisee rights for the Dairy Queen and Papa John’s Pizza, from existing investor Warburg Pincus.
Taiwan’s Chinatrust buys Tokyo Star Bank – report
Chinatrust Commercial Bank, one of Taiwan’s largest commercial lenders, has reportedly agreed to buy Tokyo Star Bank for JPY52 billion ($519 million) from Lone Star and other creditors-turned-shareholders. It would be the first full buyout of a Japanese...
Strategics buy Singapore start-ups Techsailor, YFind
Two Singapore-based start-ups – Techsailor and YFind – have been snapped up by strategic investors. This follows last week’s acquisition of VC-backed travel website TravelMob by NASDAQ-listed vacation rental portal HomeAway.
Jungle Ventures secures TravelMob exit
Four years ago, Asia Pacific became the world’s largest aviation market, with 647 million travelers taking flights within the region compared to 638 million in North America. This growth shows no sign of slowing down – in the first four months of...
A new alternative: SME liquidity in India
India has opened up a channel for domestic start-ups to sell shares without going through a full IPO. The platform offers new fundraising and exit options, but regulators could help by removing more red tape
Singapore’s Temasek appoints new chairman
Temasek Holdings has appointed Lim Boon Heng as its fourth chairman, succeeding Suppiah Dhanabalan who is retiring after leading the Singaporean sovereign wealth fund for 17 years.
MBK considers IPO for Taiwan’s CNS – report
MBK Partners is reportedly considering an IPO for China Network Systems (CNS), Taiwan’s largest cable TV and broadband provider, in place of a longstanding trade sale agreement that has yet to materialize amid regulatory concerns.
First Reserve-backed KrisEnergy jumps 5% on Singapore debut
KrisEnergy, the Southeast Asia-focused oil and gas exploration and production (E&P) company which counts First Reserve among its investors, rose 5% on its trading debut in Singapore on Friday. The stock closed at S$1.155 after reaching an intra-day high...
Asian GPs under pressure to return capital to investors – AVCJ Forum
Asian fund managers are under pressure to return capital to investors as patience wears thin with promises of returns to come, despite the regional growth story being far from over, industry participants told the AVCJ Singapore Forum. These sentiments...
Shuanghui plans HK IPO after Smithfield deal - report
China’s Shuanghui International - which is backed by CDH Investments and Goldman Sachs - intends to list US pork producer Smithfield Foods on the Hong Kong stock exchange following its planned takeover.
Baidu pays $1.9b for VC-backed 91 Wireless
Chinese search engine giant Baidu is to acquire 91 Wireless - the mobile app store business of online gaming company NetDragon Websoft - for $1.9 billion.
2Q analysis: China in the spotlight
All is not well for China PE investment with one big deal disguising a period of relative inactivity; China exits, on the other hand, are prospering; and Asia PE fundraising is, of course, struggling
China’s PE-backed Cloudary withdraws US IPO
Cloudary, an online literacy platform controlled by Chinese internet company Shanda Interactive Entertainment, has withdrawn its US IPO, which expected to raise $200 million. The move came after the company raised $110 million from Goldman Sachs and Temasek...
IL&FS exits machine tool manufacturer for 2.91x return
IL&FS Investment Managers' Leverage India Fund (LIF) has exited its 19.3% stake in Bharat Fritz Werner (BFW), a tool manufacturing company, for INR711.9 million ($11.8 million). It has generated an IRR of 15% and a multiple of 2.91x on its INR245 million...
First Reserve-backed KrisEnergy to raise $213m in IPO
Southeast Asia oil and gas exploration and production (E&P) company KrisEnergy, which counts First Reserve among its investors, is expected to raise S$270.8 million ($213 million) through its Singapore IPO.
Australia’s Next Capital buys Scottish Pacific from Lazard
Next Capital completed the acquisition of Australian debt finance company Scottish Pacific from Lazard Australia Private Equity. The transaction value wasn’t disclosed but local media reports put it at around A$90 million ($82.6 million).
Reliance exits Indian courier service for 2.4x return
Reliance Equity Advisors has exited courier company DTDC to French express logistics firm GeoPost for INR1.5 billion ($25.9 million) The PE firm bought a 39.51% stake for INR660 million in 2006, implying a 2.4x return on its investment.
Navis exits Australian oil and gas services provider
Navis Capital Partners has exited Callidus Process Solutions, an Australian industry valve maintenance specialist serving mining and oil and gas sites, to Pon Holdings Australia (PHA).
Japan's Chiyoda acquires PE-backed energy consultancy
Chiyoda Corp, a Japanese engineering contractor, has acquired a majority stake in Scottish energy consultancy business Xodus Group from UK private equity backer Simmons Parallel Private and Dutch investor Sunrise Xodus. Financial details were not disclosed.
Asia PE fundraising slumps to $13b in first half of 2013
Asia private equity fundraising came to $13.8 billion in the first half of the year, down 40% on the second half of 2012, according to provisional data from AVCJ Research. This is the lowest six-monthly total since January-June 2009. PE investment reached...
Actis exits Chinese kitchen equipment maker to US trade buyer
Actis has sold its stakes in Chinese commercial kitchen equipment maker Vesta to Illinois Tool Works (ITW), a US industrial equipment manufacturer. Terms of the transaction were not disclosed.
Samsung Electronics buys VC-backed Boxee
Samsung Electronics has acquired Boxee, a VC-backed Israeli start-up that manufactures digital video recorders (DVRs). The financial details of the deal were not disclosed.
Anacacia exits Rafferty's to PZ Cussons for 10x return - Update
Anacacia Capital has sold baby-food producer Rafferty’s Garden to London-listed PZ Cussons for GBP42.2 million ($64 million). The Australia GP is understood to have generated a 10x return on an investment made three years ago.
Asia PE: Taking the temperature
AVCJ assembled a group of private equity industry leaders to share their views on the prospects for exits in Asia, changing expectations and approaches to China, and how to address LP interest in co-investment