News
Bank of America raises $8.3b in partial exit from CCB
Bank of America (BofA) on Monday sold about half its 10% holding in China Construction Bank (CCB), raising $8.3 billion. The lender, which is in the process of shedding non-core assets and boosting its tier-one capital, sold 13.1 billion shares to group...
Beacon, Mirah Hospitality back Indian fine dining chain
Beacon India Private Equity has invested INR80 million ($1.7 million) in Impresario Entertainment and Hospitality, which operates fine dining restaurants Mocha and Smoke House Deli. The firm’s contribution comes alongside a INR400 million commitment...
VC-backed Chinese children’s clothing retailer signs Disney deal
Greenbox, a venture capital-backed Chinese online retailer specializing in children’s clothes, has agreed to integrate Disney brands into its product lines. The Chinese company will design clothing lines inspired by Disney franchises including Mickey...
Sino-Forest expected to default on $1.3b in debt
Sino-Forest, the Toronto-listed Chinese timber firm whose chairman and CEO resigned on Sunday after regulators expressed concerns about fraudulent activity, is expected to default on its $1.3 billion of debt.
India’s Reliance Broadcast in talks with prospective PE investors
Reliance Broadcast Network is in talks with private equity investors over the sale of INR4 billion ($87 million) in preferential shares. Asheesh Chatterjee, Reliance’s CFO, told The Wall Street Journal that the company hopes to reach agreements by the...
United Technologies may edge out PE for FirePro buyout
US-based United Technologies has reportedly emerged as the front runner to buy Bangalore-based fire-protection firm FirePro Systems for $200 million – an asset that is said to also have been courted by global private equity firms.
KKR appoints former director of India's central bank as senior advisor
KKR has appointed former director of the Reserve Bank of India (RBI) D.S. Brar as a senior advisor in India, charged with providing input on the firm’s Asia portfolio management committee.
ETIC becomes largest shareholder in Japanese engineering firm
Enterprise Turnaround Initiative Corp of Japan (ETIC) has underwritten 150 million of common shares issued by ARRK, a listed company engaged in die and mold engineering, worth JPY9 billion ($117 million).
Bendigo-led consortium invests in Akatsuki Financial
A consortium led by Bendigo Partners has made a strategic investment in Akatsuki Financial Group, a Japan based mid-sized financial services firm, specializing in retail brokerage and asset management. Financial details were not announced.
Indian ethnic fashion retailer seeks private equity investment
Wolfensohn Capital Partners is going to sell its 8% stake in ethnic fashion retailer Fabindia. The exit comes as Fabindia looks to raise around INR2 billion from new investors.
ANZ linked to potential acquisitions of Tokyo Star Bank, Aozora Bank
Australia and New Zealand Banking Group (ANZ) is reportedly looking to acquire Lone Star-controlled Tokyo Star Bank or Cerberus-owned Aozora Bank.
Bank of America expected to exit over half its CCB stake this week
Bank of America (BofA) is on course to sell more than half its stake in China Construction Bank (CCB) for up to $10 billion this week. A consortium of Asian and Middle East sovereign wealth funds as well as several private equity firms are in negotiations...
Milestone's board to decide on Arya's successor
Milestone Capital’s board of directors will reportedly meet in the coming days to appoint a successor to CEO Ved Prakash Arya, who died last week when a coconut tree collapsed on him.
Former GIC executive director elected president of Singapore
Former executive director at Government of Singapore Investment Corp. (GIC) Tony Tan has been elected the seventh president of Singapore, beating second-place Tan Cheng Bock by a margin of 0.3%.
Sino-Forest CEO resigns as regulator expresses fraud concerns
The chairman and CEO of Sino-Forest has resigned and three employees have been temporarily suspended after the Ontario Securities Commission said the company may have misrepresented its revenue statements and exaggerated its timber holdings. It added...
China’s Zhongpin seen as potential PE target
Chinese pork processor Zhongpin has been tipped as a potential target for private equity investors. Tim Tiberio, an analyst at Chardan Capital Markets, said that the long-term opportunity for consolidation in China’s food processing industry “is too...
India’s SREI targets $1b infrastructure fund
SREI Infrastructure Finance plans to raise a $1 billion private equity fund to invest in areas such as roads, power and ports.
Property developer Banyan Tree seeks more PE funding
Singapore-based luxury-resort developer Banyan Tree Holdings is looking to raise more funds from private equity as it pushes ahead with plans to build high-end homes in second- and third-tier cities in China.
Milestone Capital's Ved Prakash Arya killed in accident
Ved Prakash Arya, managing director and CEO of Milestone Capital Advisors, died in an accident Thursday near his Mumbai home. He was 42 and is survived by his wife and two children.
CNOOC anchors PE fund targeting Asian energy assets
China National Offshore Oil Corp. (CNOOC) has formed a strategic partnership with Kerogen Capital, which is raising a $1.5 billion private equity fund that will target energy investments in Asia.
China, India lead global emerging markets for PE activity
India and China accounted for 54% of private equity transactions completed in emerging countries in the first half of 2011, according to a report by the Emerging Market Private Equity Association.
India's Axis Private Equity to sell portfolio companies
India’s Axis Private Equity is reportedly negotiating the sale of Vishwa Infrastructure and Corrtech International, and plans to dilute its stake in Neesa Leisure through an IPO.
Carlyle invests $26m in Indian affordable housing firm
The Carlyle Group has committed $26 million to Value & Budget Housing Corporation (VBHC), a constructor and developer of affordable housing in India
GIC confirms death of Mayukh Mitter
Mayukh Mitter, head of the direct investment group for Asia, ex-China, at the Government of Singapore Investment Corp. (GIC), has died. According to reports, he suffered a fatal heart attack on the morning of August 15. Mitter’s office confirmed his...