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YY Announces Pricing of Initial Public Offering (Asia)
Private equity-backed Chinese social media platform YY listed an IPO on the NASDAQ Stock Market, issuing 156 million shares and raising approximately US$81.9 million. YY’s IPO was underwritten by private equity firms Morningside Group, GGV Capital and Steamboat Ventures, as well as hedge fund Tiger Global Management. This is reported to be the first U.S. listing of a Chinese company’s… Read More
Blue River Capital Exits City Union Bank at 3.4x (Asia)
Blue River Capital, an Indian private equity firm, has completely exited from its investment in India’s City Union Bank. Blue River first invested in City Union Bank in 2007 as part of a consortium that included Dutch development finance institution FMO and U.S.-based venture capital firm Argonaut Ventures, and began exiting the publicly listed bank incrementally through share sales on… Read More
CyberAgent Ventures Invests in Foody, Vietnamese Gourmet Review Media (Asia)
CyberAgent Ventures, the venture capital arm of Japanese internet company CyberAgent, has invested in Vietnamese online restaurant review search engine Foody. Launched in August 2012, Foody has compiled information on over 10,000 restaurants and posted 5,000 user reviews. CyberAgent invested from its Southeast Asia-focused venture capital fund CA Asia Internet Fund I. Financial details of the transaction were not disclosed. Read More
Matrix Partners India Invests in Mewar Orthopaedic Hospitals (Asia)
Matrix Partners India, the Indian affiliate of U.S.-based investment firm Matrix Partners, has acquired a minority stake in India’s Mewar Orthopaedic Hospitals, which provides surgical orthopedic care from hospitals in three Indian states: Rajasthan, Gujarat and Madhya Pradesh. The company plans to open a 100-bed center of excellence which will specialize in end to end trauma surgical care, as well… Read More
Northstar in US$72.5 Million Singapore Deal (Asia)
Indonesian private equity firm Northstar Pacific Capital will acquire a 50.05 percent stake in Singaporean telecommunications company Nera Telecommunications. Northstar’s newly incorporated unit, Asia Systems, will purchase the stake from Norwegian electronics and energy company Eltek for SGD89 million (approximately US$72.5 million). Northstar reportedly intends to make offers to Nera’s remaining shareholders to purchase a greater stake in the company. Read More
Lehman Spin-out Trilantic Sells Istanbul Doors Group (CEE and CIS)
Global private equity firm Trilantic Capital Partners has sold its stake in Turkish restaurant operator Istanbul Doors Group to Doğuş Group, a Turkish conglomerate. Istanbul Doors Group operates 35 restaurants in five countries including Turkey, the United Kingdom, Russia and Azerbaijan. Trilantic first invested in the company in 2008; financial details of the sale were not disclosed. Read More
Southern Cross Group Invests in Sociedad Portuaria Regional de Barranquilla (Latin America)
Latin America-focused private equity firm Southern Cross Group has acquired more than 50 percent of Sociedad Portuaria Regional de Barranquilla (SPRB), the operator of the Colombian port of Barranquilla. Southern Cross made the investment through its Southern Cross IV private equity fund. While financial details of the transaction were not disclosed, Southern Cross plans to invest US$100 million into the… Read More
Peepul Capital Backs Herbal Cosmetics Player Banjara’s (Asia)
Indian private equity firm Peepul Capital has invested in Indian herbal cosmetics manufacturer Vishal Personal Care, which manufactures over 80 skin and hair care products under the brand Banjara’s. Peepul invested the capital from its US$320 million Peepul Capital III fund, which it raised in 2010. Financial details of the investment were not disclosed. Read More
Fosun Group Invested in Taiwan Vigor Kobo (Asia)
Chinese investment firm Fosun Group has acquired a 20 percent stake in Taiwanese bakery Taiwan Vigor Kobo. Vigor Kobo integrates the tourism and food sectors, producing cakes that visitors from mainland China can take with them as souvenirs after visits to Taiwan. Through the investment, Fosun will support Vigor Kobo’s entry into the mainland Chinese tourism market. Financial details of… Read More
Enterprise Investors to Sell Its Stake in Zelmer Through a Tender Offer to BSH (CEE and CIS)
Polish private equity firm Enterprise Investors has agreed to sell its stake in Zelmer, a Polish manufacturer of small appliances, to German appliance manufacturer BSH Bosch und Siemens Hausgeräte (BSH). BSH will purchase Enterprise Investors’s 49 percent stake as part of an offer to purchase 100 percent of Zelmer. Enterprise Investors first invested in Zelmer in 2005 through its Polish… Read More
FountainVest Raises US$1.35 Billion in Second Buyout Fund (Asia)
Chinese private equity firm FountainVest Partners has closed its second China-focused fund with US$1.35 billion in commitments. FountainVest was reportedly able to raise the fund, FountainVest China Growth Capital Fund II, in eight months. The fund is larger than its US$950 million predecessor. FountainVest plans to invest between US$50 million and US$200 million in China-based companies through both growth capital… Read More
The Pembani Remgro Infrastructure Fund, The Carlyle Group and Standard Chartered Private Equity Invest US$210 Million in Export Trading Group (Sub-Saharan Africa)
The Carlyle Group and African infrastructure investor The Pembani Remgro Infrastructure Fund have invested US$210 million into Tanzania-based Export Trading Group (ETG), along with existing investor Standard Chartered Private Equity, the private equity arm of Standard Chartered Bank. ETG manages a vertically integrated agricultural supply chain operation in Africa, including procurement, processing, warehousing, distribution and merchandising, and also has a… Read More