Exit
Friend or foe? Chinese M&A in the US
Chinese companies are keen to acquire assets overseas and the US is a popular target. Success hinges on satisfying regulators, appeasing politicians and persuading sellers of their ability to execute transactions
Blackstone set for partial exit as Emcure Pharma files for IPO
The Blackstone Group will make a partial exit from its 2006 investment in India's Emcure Pharmaceuticals as the company targets a INR3 billion ($50.4 million) IPO.
Sun Capital exits US-based ASB to Japan's Lixil
Sun Capital Partners has exited its stake in American Standard Brands (ASB), a US maker of bathroom and kitchen fixtures, to Japanese toilet manufacturer Lixil Corp. for $542 million. The deal values the 138 year-old firm at around $342 million and includes...
CDH commits $97m to China's New Focus Auto
CDH Investments has invested $97.37 million in Hong Kong-listed auto after-sales service provider New Focus Auto (NFA) through a subscription to ordinary shares and convertible bonds. Upon full conversion it will own 63.2% of the company.
Korean government tries again to offload Woori stake
The South Korean government will once again try to offload its majority stake in Woori Finance Holdings, this time breaking up the asset into three pieces to be auctioned separately. The plan is to sell two regional banks and a brokerage and related units...
Warburg Pincus-backed India coal washery firm re-files for IPO
Warburg Pincus is set for a partial exit from ACB, a provider of coal beneficiation services, after the company re-filed a draft red herring prospectus (DRHP) for an IPO. It hopes to raise INR4.15 billion ($69.4 million).
AVCJ China Awards: Exit of the Year – China Pacific Insurance
“The transaction, the largest private equity investment in China to date, is a testimony to the maturing investment and regulatory environment in China and to the government’s commitment to financial reform,” X.D. Yang, managing director and co-head...
Carlyle finds the right formula for Yashili
Glow-in-the-dark pork, dumplings with aluminum, cadmium-tainted rice, and cooking oil made from recycled sewage are just some of the horrors that have found their way onto Chinese dinner tables in recent times. It is no wonder, then, that there is an...
Positive signs from India
The last few years haven't been kind to Indian private equity. After a period of strong fundraising and bumper investment – a large portion of it into publicly-listed entities – the industry has largely been unable to deliver on the promise. Non-performers...
ChrysCap exits Ahmednagar Forgings, buys Sequoia's Infotech stake
ChrysCapital Partners has exited Ahmednagar Forgings (AFL), a manufacturer of automotive components, for INR363 million ($6.07 million) through a series of bulk deals on the open market. The firm originally bought the stake for INR295 million in 2008.
ChrysCapital-backed Intas Pharma files for IPO
ChrysCapital Partners will exit the 10.16% stake held by Fund III in Ahmedabad-based formulations maker Intas Pharmaceuticals via an upcoming IPO. Another 6.25% stake will continue to be held by the PE firm's fifth fund.
Tencent-Naspers JV ibibo buys India ticketing firm redBus
Delhi-based ibibo Group has acquired VC-backed Indian bus ticketing company redBus.in, allowing Helion Venture Partners, Inventus Capital Partners and Seedfund to exit their investment. Financial terms of the transaction were not disclosed.
Carlyle, Seven to retain ownership of Australia's Coates Hire
The Carlyle Group and Seven Group Holdings have decided against pursuing an exit from Australian equipment-leasing business Coates Hire following a strategic review. The co-owners said they remain fully committed to growing the business.
Japan divestments still strong despite 'double-edged sword' of Abenomics
Corporate divestments continue to be a strong source of buyout deal flow in Japan, regardless of the impact of recently introduced economic reforms, according to Richard Folsom, co-founder and CEO of domestic GP Advantage Partners.
Hawkesbridge seeks Australian bottled water company exit
Hawkesbridge Capital is seeking a potential buyer for Noble Beverages, the Australian company behind the bottled water brand Pureau.The Sydney-based private equity firm made a succession play for the family-owned company back in 2004, acquiring a majority...
GIC to sell Springer Science+Business
GIC Special Investments, the PE arm of the Government of Singapore Investment Corporation, and EQT will sell global publisher Springer Science+Business Media to London-based BC Partners for a total enterprise value of around EUR 3.3 billion ($4.4 billion),...
Carlyle to exit Yashili stake to China Mengniu Dairy
The Carlyle Group has agreed to sell its 24% stake in Yashili International to domestic rival China Mengniu Dairy for about HK$3 billion ($387 million). This is part of a Mengniu bid for a majority interest in Yashili - its second lateral investment...
Q&A: Advantage Partners' Richard Folsom
Advantage Partners has experienced more than its fair share of Japan's highs and lows. Now as the country embarks on a new economic experiment, co-founder and CEO Richard Folsom shares his views on the state of PE
PE-owned Dutch waste company sells subsidiary to Cheung Kong Infrastructure
A Dutch waste management provider owned by CVC Capital Partners and KKR has exited its energy-from-waste (EfW) subsidiary to a consortium led by Cheung Kong Infrastructure (CKI) for EUR940 million ($1.27 billion). It is the Hong Kong-based company’s...
ICICI Prudential exits Indian residential investment
ICICI Prudential AMC, a joint venture between India’s ICICI Bank and Eastspring Investments, has exited investments in two Shriram Properties residential projects in Bangalore with returns upwards of 20%.
China’s Jiuding committed to pre-IPO strategy
China pre-IPO specialist Kunwu Jiuding Capital will not change its strategy despite a slump in listings - and exit multiples - before domestic regulators slammed the door on new share offerings completely towards the end of last year.
Orix, Perigon to make partial exits from Air Asia X via IPO
Orix Corp. and Perigon Advisory will make partial exits from regional budget carrier AirAsia's long-haul subsidiary through an IPO that is targeting up to $370 million.
Morgan Stanley-backed Hyundai Rotem gets green light for IPO
Hyundai Rotem, a South Korean railway vehicle manufacturer backed by Morgan Stanley Private Equity Asia (MSPEA), has received approval to list on the Korea Stock Exchange. It will likely be the country’s largest share offering so far this year and the...
China IPOs: Different this time
There are signs that the China listings logjam is gradually becoming unstuck, sowing seeds of hope for PE equity and VC investors fielding awkward questions from LPs about liquidity horizons. But markets are unlikely to bounce back to their former highs...