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TPG to Buy 21st Century Fox’s Stake in Phoenix Satellite TV (Asia)
Global private investment firm TPG has agreed to buy a 12.2 percent stake in China-based satellite television operator Phoenix Satellite Television Holdings from United States-based media corporation 21st Century Fox for HKD1.7 billion (approximately US$214 million). TPG will buy 607 million shares in Phoenix at HKD2.73 per share, representing a 3.5 percent discount to the company’s closing price on 18… Read More
ADM Capital and Altus Capital Partners Invest in Philippines-Based Vitarich (Asia)
ADM Capital, an investment firm focused primarily on recovery, special situations and event-driven opportunities in emerging markets, has partnered with distressed debt and special situations investment manager Altus Capital Partners to invest in Kormasinc, a special purpose company set up to acquire Philippines-based agri-feeds producer Vitarich’s long term secured liabilities. ADM Capital and Altus Capital intend to restructure Vitarich’s debt,… Read More
RRJ Capital, CCBI and CIC Back China Water Treatment Company SIIC Environment (Asia)
Singapore-listed Chinese water treatment company SIIC Environment will raise SGD260.2 million (approximately US$208.9 million) by selling new shares to Asia-focused private equity firm RRJ Capital, investment services institution CCB International (CCBI) and China sovereign wealth fund China Investment Corporation (CIC). SIIC will sell 3.1 billion ordinary shares at SGD0.09 (approximately US$0.07) per share, representing a 13 percent discount to the… Read More
IDFC Alternatives Invests US$20 Million in Medi Assist (Asia)
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has picked up a stake in India-based Medi Assist Group, provider of third party administrator (TPA) services for health insurance-related claims. IDFC Alternatives committed INR1.3 billion (approximately US$20.5 million) to the deal, part of which has already been invested. Medi Assist intends to use the new financing to… Read More
MBK Closes Third North Asia Buyout Fund at US$2.7 Billion Hard Cap (Asia)
North Asia-focused private equity firm MBK Partners has reached a third close on its latest buyout fund MBK Partners III at the hard cap of US$2.7 billion in capital commitments. The fund, which reached a first close of US$1.25 billion in capital commitments in November 2012, had an initial target of US$2.25 billion. The fund will maintain MBK’s geographic focus… Read More
Hony Capital Affiliates Seek HKD2 Billion from CSPC Share Sale (Asia)
Affiliates of China-focused private equity firm Hony Capital are selling 500 million shares in Hong Kong-listed manufacturer of vitamins and generic drugs CSPC Pharmaceutical Group for HKD4.05 (approximately US$0.52) per share. Hony is seeking a total of HKD2 billion (approximately US$261.1 million) from the sale of a 13 percent stake in CSPC. The company’s stock, which was halted pending a… Read More
IDG Ventures India Participates in US$2 Million Round in Unbxd and US$4.4 Million Round in Theramyt Novobiologics (Asia)
Venture capital firms IDG Ventures India and Inventus Capital Partners have participated in a US$2 million Series A funding round in India-based Unbxd, a recommendation platform for e-commerce companies. Unbxd intends to use the capital infusion to strengthen the company’s presence in India, Singapore and North America, in addition to ramping up research and development efforts. In April 2012 the… Read More
CIPEF VI to Acquire Stake in Chile-Based Tanner Servicios Financieros (Latin America)
Emerging markets investment manager Capital International has signed an agreement to acquire a 27 percent stake in Chile-based financial services provider Tanner Servicios Financieros via a subscription of newly issued shares for US$200 million. The transaction will be structured through Capital International Private Equity Fund (CIPEF) VI. Tanner intends to use the capital injection to finance company growth and invest… Read More
Agri-Vie Invests in Cape Olive Holdings (Sub-Saharan Africa)
Sub-Saharan Africa-focused private equity fund Agri-Vie, which targets food and agribusiness investments, has acquired a 63 percent stake in South Africa-based table olive supplier Cape Olive Holdings. The company intends to use the new capital to increase its penetration in the food services sector and exports into Africa. Financial details of the transaction were not disclosed. Read More
KKR Invests in Malaysia-Based Weststar Aviation Services and Serbia-Based SBB/Telemach Group (Asia, CEE and CIS)
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) has invested about MYR642 million (approximately US$200.8 million) for a substantial minority stake in Malaysia-based Weststar Aviation Services, provider of offshore helicopter and transportation services to the oil and gas industry. The transaction was structured through KKR Asian Fund II. Weststar intends to use the capital injection to expand its reach… Read More
Bridgepoint Acquires Polish Food Group Dr Gerard (CEE and CIS)
International private equity group Bridgepoint has acquired Poland-based Dr Gerard, a producer of branded and private label biscuits, from France-based biscuit manufacturer Groupe Poult. Dr Gerard intends to consolidate its position in Poland and develop an international platform in CEE. Financial details of the transaction were not disclosed. Read More
Brazil’s Neogas Raises US$20 Million from IFC and ALAC (Latin America)
Development finance institution International Finance Corporation (IFC) and IFC Asset Management Company (AMC), a wholly owned subsidiary of IFC, have invested US$20 million in Brazil-based provider of natural gas logistics services Neogas. IFC AMC’s investment was structured through IFC African, Latin American and Caribbean Fund (ALAC). Neogas, which currently operates in Brazil, Peru, Mexico and Columbia, intends to use the… Read More