Trade sale
KKR puts Bis Industries on the block
KKR has put its mining services and logistics business Bis Industries on the block. The Australian company has been valued at around $1.8 billion including debt.
AVCJ China Awards: PE Exit of the Year – Beijing Leader & Harvest
Much is made of the commercial implications of China’s clean energy drive. The government has pledged to reduce carbon dioxide emissions and energy intensity, promote industrial efficiency and minimize industrial pollution, protect forests, curb motor...
GA sells Gavilon stake to Japan’s Marubeni
General Atlantic (GA) has sold its stake in US grain trader Gavilon to Japanese trading house Marubeni Corp, in a deal that values the company at an enterprise value of around $5.3 billion.
Asahi says it paid too much for PE-backed Independent Liquor
Asahi Group is re-examining the terms of its NZ$1.5 billion ($1.27 billion) acquisition last year of Independent Liquor from Pacific Equity Partners (PEP) and Unitas Capital, suggesting there were differences in understanding between the buyer and sellers...
PE giants sell AMC Cinemas to China’s Wanda for $2.6b
Private equity firms Apollo Global Management, Bain Capital, CCMP Capital Advisors and Spectrum Equity Capital have sold AMC Entertainment, owner of the eponymous cinema chain, to China’s largest entertainment group for $2.6 billion. The deal is thought...
PEP seeks buyers for Link Group – report
Pacific Equity Partners (PEP) has reportedly begun the auction process for Link Group, which could sell for as much as A$1.4 billion ($1.4 billion), including debt. It is poised to be Asia’s biggest private equity exit of the year.
Bright Food adds Weetabix to foreign portfolio
China's Bright Food Group through a considerable amount of trial and error before sealing its first overseas acquisition last year, purchasing a 75% stake in Manassen Foods from CHAMP Private Equity for an enterprise valuation of $525 million.
Regulatory delays add $300m to MBK’s CNS price tag
MBK Partners' exit from Taiwanese cable television business CNS could collapse because the prospective buyer is unhappy at how delays in regulatory approvals have added up to NT$10 billion (US$341 million) to the original price tag.
Goldman exits NZ retirement villages to Metlifecare
Goldman Sachs has exited its majority stake in New Zealand retirement village operator Vision Senior Living to Metlifecare. The acquisition – which includes Private Life Care Holdings as well as Vision – will be financed through Metlifecare issuing...
Lion to make 5x money on Weetabix sale to Bright Food
Consumer investor Lion Capital has sold 60% of UK-based cereal company Weetabix to China’s Bright Food Group, in a deal that values the company at GPB1.2 billion ($1.9 billion), including debt. The move comes weeks after the buyer denied reports that...
Navis exits label manufacturer Trimco to Partners Group
Navis Capital Partners has sold its majority stake in Trimco International Holdings to Partners Group. The size of the deal was not disclosed but the combination of exit proceeds and dividends received over a seven-year holding period will leave Navis...
European GPs seek exits to Asian corporates
The trend for European GPs to set up portfolio teams in Asia helps expand their companies into new geographies. But forming local joint ventures offers significant exit prospects as well
CapVest exits United Coffee to Japan’s UCC
CapVest has sold United Coffee, one of Europe’s largest coffee companies, to Japanese trade buyer UCC Holdings for EUR500 million ($617 million).
CHAMP Private Equity exits IES to McAleese Group
CHAMP Private Equity has sold International Energy Services (IES), a logistics firm that specializes in the transportation of fuel products and hazardous chemicals, to McAleese Group. It is further confirmation of trade sales as the preferred exit channel...
Japan’s PE firms on trade sale hunt
Japanese buyout firms are making plans to offload a portion of their local portfolio companies via trade sales this year.
Korea Life makes final bid for Vogo’s stake in Tong Yang Life
Korea Life Insurance has submitted a final bid for Vogo Investment’s controlling stake in Tong Yang Life Insurance. Vogo is seeking to exit 60.7% of its 64% interest in the business in order to capitalize on the scarcity value of a controlling stake...
Gobi makes lucrative early exit from CIB
Gobi Partners had big plans for CIB Development. The venture firm received the green light to invest in the Malaysia-based online games operator in 2010 and put together a strategy that would boost exposure in Indonesia, the region’s largest gaming...
Gobi reaps 60% IRR on CIB trade sale
Venture firm Gobi Partners has reaped an IRR of 60% on the sale of its minority stake in Malaysian online games operator CIB Development to listed gaming company Asiasoft.
Blackstone, PAI prepare for United Biscuits carve-up
Private equity-owned United Biscuits, a one-time target of China’s Bright Food Group, is preparing to spin out its salty snacks business in a potential GBP500 million ($780 million) sale. The Blackstone Group and PAI Partners are keen to separate the...
Japan’s Asahi favorite to buy StarBev from CVC – report
Asahi has reportedly emerged as the frontrunner to buy east European brewer StarBev from CVC Capital Partners in a deal worth up to $3 billion. It is another indication of Japanese corporates’ interest in expanding overseas, offering an exit opportunity...
PE bets on Asia’s growing food demand
Food assets – notably fresh produce – are increasingly attractive to private equity firms as they potential trade sale exits to Asian corporates looking to satisfy rising domestic demand
Longreach reaps 60% IRR on Sanyo Logistics sale
The Longreach Group has reaped an IRR of 60% and a money multiple of around 2.5x on its 24.2 billion yen ($300 million) sale of Japanese logistics company Sanyo Electric Logistics.
MBK's CNS exit stalled for third time
MBK Partners’ exit from Taiwanese media group China Network Systems (CNS) may again face delays, as regulators have asked the buyer to provide more information about intentions for the asset.
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.