Exit
Baring completes partial exit from China's Yingde Gases
Baring Private Equity Asia has exited part of its stake in Hong Kong listed Yingde Gases through a block trade worth of HK$414 million ($53 million). The partial exit comes after a 40% gain in Yingde’s share price since October 2011.
Goldman Sachs exits Hana in $331m sell down
Goldman Sachs has exited the remainder of its stake in South Korea's Hana Financial Group through a public market sell down worth $331 million.
Unison nears $650m Showa Yakuhin Kako buyout - sources
Japanese private equity firm Unison Capital is reportedly in the final round of bidding for Showa Yakuhin Kako, a drug producer backed by Tokio Marine Capital.
Longreach considers En Tie Bank sale - sources
Japan-focused private equity firm Longreach Group is said to be weighing up the prospect of selling its majority stake in Taiwanese lender En Tie Commercial Bank.
Temasek sells $300m ICICI Bank stake
Temasek Holdings, Singapore’s second-largest sovereign wealth fund has sold a 1.4% stake in ICICI Bank for INR14.7 billion ($299 million), reducing its shareholding in India’s biggest private bank to 2%.
Hutchison Whampoa to acquire Orange Austria
Hutchison 3G, a unit of Hong Kong conglomerate Hutchison Whampoa, agreed to acquire Orange Austria, a mobile telecommunication company owned by France Telecom and buyout firm Mid-Europa Partners.
Ironbridge mulls IES SBO
Ironbridge Capital is reportedly among the private equity suitors looking to participate in the secondary buyout of CHAMP Private Equity’s International Energy Services (IES).
Warburg Pincus, Oak Hill seek exits from Indian BPO firms
Warburg Pincus and Oak Hill Capital Partners are both lining up exits from Indian outsourcing companies listed in the US. WNS plans to offer 10.5 million new and ordinary shares, which would reduce Warburg Pincus’ holding in the company from 47.84%...
Swire enters the bidding for Baring-backed Courts Asia
Hong Kong conglomerate Swire is reportedly among the bidders for Baring Private Equity Asia-invested electronics and furniture retailer Courts Asia. The sale could be worth close to $400 million.
Warburg Pincus completes partial exit from Kotak Mahindra
Warburg Pincus completed a public market sell down of part of its holding in India’s Kotak Mahindra Bank on Wednesday. The private equity firm raised about $170 million through the transaction.
Bain, Unitas consider $400m Prestolite SBO
Bain Capital and Unitas Capital are said to have submitted second round bids to purchase China-focused motor manufacturer Prestolite Electric from First Atlantic for around $400 million.
Advantage, Japan’s Orix abandon Yayoi buyout - sources
Advantage Partners and Japan’s Orix Corp. have reportedly dropped out of the running for software developer Yayoi, which was put on the block by MBK Partners last year.
Indian realty valuations to take a hit
The time is ripe for an exit for private equity funds focused on Indian real estate. But can investors keep up the pace without affecting returns?
IL&FS signs off five real estate part-exits in 4Q
IL&FS Investment Managers (IIML) completed partial exits from five of its investments in Indian real estate in the fourth quarter of 2011. It also invested INR7.7 billion ($154 million) in the three months to December 2011.
Lone Star wins approval for KEB sale
Embattled buyout firm Lone Star has finally gained approval from the necessary parties for the sale of its 51% stake in Korea Exchange Bank to Hana Financial Group.
Wolseley exits Freshmax to Maui Capital
Wolseley Private Equity has fully exited Australian fruit and vegetables supplier Freshmax through a secondary sale to Maui Capital, an Auckland-based private equity firm. The deal closed before the end of 2011, giving Wolseley enough time to return money...
Carlyle completes another China Pacific Insurance sell-down
The Carlyle Group has completed another sell-down of China Pacific Insurance Group, offloading 18 million shares and reducing its stake in the company to 4.94% from 5.15%. The private equity has now generated nearly $3.7 billion through four sales since...
Vogo expects strong returns on full exit from Tong Yang Life - Update
Vogo Investment expects to see an IRR of at least 20% on its initial investment in Tong Yang Life Insurance as negotiations with potential strategic buyers near a close. The private equity firm is seeking to exit 60.7% of its 64% stake in the business...
Dunkin’ Donuts exit reflects consumer appeal
Fast food is a popular commodity among private equity investors in Southeast Asia who are drawn to any asset that could be interpreted a play on rising regional consumption.
IPO woes: Looking for an exit
With the public markets all but closed for IPOs, what other exit routes are available to investors?
US PE firm Yucapia exits South Korea’s IHQ
Yucapia Global PEF, a US private equity fund held by supermarket conglomerate owner Ronald Burkle, has exited almost its entire stake in IHQ, one of South Korea’s major entertainment stocks. It is unlikely to have generated a significant return on the...
China to let more SMEs list in Hong Kong
China will allow more small- and medium-sized enterprises to list in Hong Kong in what could be a game changer for private equity firms seeking overseas IPO exits for portfolio companies. The move, announced at the Asian Financial Forum in Hong Kong by...
Navis exits Dunkin’ Donuts, Au Bon Pain in Thailand
Navis Capital Partners has completed the sale of its stake in Dunkin’ Donuts and Au Bon Pain in Thailand to local-listed Sub Sri Thai Public Company (SST) for THB1.32 billion ($41.6 million). It has secured an approximately 2.45x on its initial investment.
Fourth quarter analysis: The end of multiples arbitrage?
Fourth-quarter analysis: Growth capital investments flounder; established GPs thrive in difficult markets; trade and secondary sales fail to pick up the capital markets slack.