Trade sale
Abraaj to buy India's CARE Hospitals from Advent
The Abraaj Group has agreed to buy CARE Hospitals, India's fifth-largest healthcare provider from Advent International.
Affinity set for over 6x return on Korea's Loen Entertainment - Update
Affinity Equity Partners is set for a more than 6x return on its investment in Loen Entertainment, the Korean equivalent of iTunes, following Kakao Corporation's agreement to buy a majority stake in the business.
AGIC joins $1b Chinese acquisition of KraussMaffei
AGIC Capital, a private equity firm that focuses on China-Europe cross-border investments, has teamed up with two Chinese companies to acquire KraussMaffei Group from Onex Corporation at an enterprise valuation of EUR925 million ($1.01 billion).
Secondary exits: Pass the parcel
Is Baring Private Equity Asia's flood of secondary buyouts from other GPs indicative of a wider trend in the industry in Asia?
Taiwan's Fair Trade Commission approves CNS sale
Taiwan’s Fair Trade Commission has approved the acquisition of cable television provider China Network Systems (CNS) by Morgan Stanley Private Equity Asia (MSPEA) and Far EasTone Telecommunications.
Bain agrees to sell stake in Japan's Jupiter Shop
Bain Capital has agreed to sell its entire 50% stake in Japan's Jupiter Shop Channel to Jupiter Communication (J:COM), a company part-owned by Sumitomo Corporation. Bain bought its interest from Sumitomo at a valuation of JPY100 billion (then $1.3 billion)...
IFM agrees sale of Pacific Hydro to China's SPIC
IFM Investors has agreed to sell Australia-headquartered renewable energy platform Pacific Hydro to China’s State Power Investment Corporation (SPIC).
TPG sells HCP Packaging to Baring, returns $1.55b to LPs in 2015
TPG Capital has returned $1.55 billion to investors from its Asia portfolio in 2015, including $775 million from the sale of HCP Packaging to Baring Private Equity Asia.
2015 in review: Capital in abundance
Ample liquidity and a tech boom drive up investment activity; venture takes center stage in a relatively quiet fundraising environment; exits do not disappoint, but fail to match the highs of 2014.
Five trends for 2016
What do the next 12 months have in store? AVCJ has some ideas, but first here is a review of the predictions made for 2015…
China's Cowin Capital to exit jewelry retailer Myray
Shenzhen Cowin Capital is poised to exit jewelry retailer Myray to Gansu Gangtai Holdings following the Shanghai-listed company's agreement to buy a further 36.96% of Myray for RMB170 million ($26 million).
MSPEA exits Sino Gas stake to investment partner
Morgan Stanley Private Equity Asia (MSPEA) has agreed to sell its 38.7% stake in Sino Gas to Zhongyu Gas. The buyer participated alongside MSPEA in the privatization of Sino Gas last year and will now take a majority stake in the business.
AVCJ Awards 2015: Operational Value Add: ECO Industrial Environmental Engineering
Navis Capital Partners saw in ECO Industrial Environmental Engineering a potential leader in the hazardous waste management industry. Getting there was tougher than expected
AVCJ Awards 2015: Exit of the Year - Mid Cap: Bushu Pharmaceuticals
Tokio Marine aimed to awaken the ambition of Japan’s Bushu Pharmaceuticals and show how a good GP can turn companies around. A 6x return was its reward
Deal focus: GFS brings Navis meaty returns
Having acquired Golden Foods Siam from a foreign parent that didn't want it and given management the resources to pursue expansion, Navis Capital Partners has sold the business to a strategic buyer for a 3.4x return
Thai Union abandons acquisition of Lion Capital's Bumble Bee
Thai Union Frozen Products’ $1.5 billion acquisition of Bumble Bee Seafoods from Lion Capital has been abandoned after the US Department of Justice informed the companies that it was concerned the deal would harm competition.
Australia's Archer agrees Healthe Care sale to China-based Luye
Archer Capital has agreed to sell Healthe Care, Australia’s third-largest private hospital group, to China-based Luye Medical Group, for $688 million. CITIC Private Equity is a shareholder in the company’s Hong Kong-listed affiliate, Luye Pharma.
Navis agrees $360m sale of Golden Foods Siam to Brazil's BRF
Navis Capital Partners is set for a 3.4x return on Thailand-based poultry producer Golden Foods Siam (GFS), having agreed to sell the company to BRF, a leading processor of chilled foods in Brazil, for $360 million.
Zhejiang Century Huatong to buy China PE-backed gaming assets
Shenzhen-listed Zhejiang Century Huatong Group will acquire game developers China Mobile Games & Entertainment Group (CMGE) and DianDian Interactive for a combined RMB13.5 billion ($2.1 billion), facilitating exits for several PE investors.
Chinese energy investor buys assets from Denham-backed Tall City
Blue Whale Energy, a China-based energy investment firm, has agreed to buy the oil and gas exploration and production assets of Tall City Exploration – a Denham Capital portfolio company – for $803 million.
Korea's CJ withdraws from bidding for MBK-controlled Coway
South Korean conglomerate CJ Corporation decided against submitting a final bid for a controlling stake in Coway, a domestic water purifier manufacturer, controlled by MBK Partners.
OrbiMed exits India's Ecron Acunova for $17.4m
Indian life-science technology company Take Solutions has agreed to pay INR1.15 billion ($17.4 million) for Ecron Acunova (EA), providing an exit for healthcare-focused private equity firm OrbiMed Advisors.
Taiwan PE: Exit issues
For private equity investors in Taiwan, getting money out can be just as much of a concern as getting it in
Alibaba agrees Youku Tudou acquisition at $4.8b valuation
Alibaba Group has agreed to acquire US-listed Chinese online video platform Youku Tudou in an all-cash deal that values the company at approximately $4.8 billion.