Private equity firm Yunfeng Capital has agreed to participate in an RMB10 billion (US$1.6 billion) financing round for China-based pharmaceutical manufacturer Guangzhou Baiyunshan Pharmaceutical Holdings. Baiyunshan’s controlling shareholder, state-owned Guangzhou Pharmaceutical Holdings Limited (GPHL), agreed to contribute RMB3.5 billion (approximately US$571 million), while Yunfeng will invest RMB500 million (approximately US$82… Read More
ChrysCapital, an investment firm that focuses on growth sectors in India, has partially exited its stake in India-listed private sector bank ING Vysya Bank. The firm sold a 3.7 percent stake in ING Vysya Bank for INR6.7 billion (approximately US$108 million) through open market transactions. ChrysCapital originally invested in the… Read More
Venture capital firm Sequoia Capital has exited its investment in India-based power equipment manufacturer TD Power Systems through an open market share sale on 8 January. Sequoia sold its entire stake in the company for INR795 million (approximately US$6.4 million). Sequoia had originally acquired around a 4.5 percent stake in… Read More
Private investment firms Spruce Capital Partners and Xeraya Capital announced the first close of MLS Capital Fund II with US$150 million in capital commitments. Investors in the fund included both institutional and global corporate investors. MLS Capital Fund II is co-managed by Spruce Capital Partners and Xeraya Capital, and will… Read More
Canbank Venture Capital Fund, a wholly-owned venture capital subsidiary of Canara Bank, has acquired a five percent stake in India-based Anand Teknow Aids Engineering India, a provider of engineering products for the oil and gas industry, for INR160 million (approximately US$2.5 million). The transaction was structured through Canbank’s Emerging India… Read More
China-focused private equity and venture capital firm CDH Investments has agreed to sell back its shares in NASDAQ-listed CNinsure, a China-based insurance intermediary company and online insurance service provider, to certain members of the company’s management. CNinsure’s management will purchase 7.7 million shares at a price of US$7 per share,… Read More
Global alternative asset manager The Carlyle Group has agreed to purchase multinational conglomerate General Electric’s stake in holding company Bowenvale, which holds a 74 percent stake in Hong Kong-listed Asia Satellite Telecommunications Holdings (AsiaSat), for as much as HKD3.75 billion (approximately US$483 million). AsiaSat is a commercial operator of communication… Read More
Credit and special situations investment firm Clearwater Capital Partners, emerging markets investment manager Spinnaker Capital Group and emerging markets fund manager Ashmore Investment Management have agreed to sell Hong Kong- and Singapore-based undersea cable provider Pacnet to Australia-based telecommunications company Telstra for US$697 million, including US$400 million in debt. The… Read More
Asia-Pacific-focused private equity investor Morgan Stanley Private Equity Asia (MSPEA) and China-based Sihuan Pharmaceuticals, one of MSPEA’s portfolio companies, along with Sihuan’s chairman, have together agreed to invest RMB1.2 billion (approximately US$200 million) in two China-based hospitals: HY Hospital in Huai’an and JB Hospital in Nanjing. The investments are being… Read More
Emerging markets financial services investor LeapFrog Investments and private equity investment manager Lombard Investments have acquired an aggregate 22 percent stake in Thailand-listed general insurer Syn Mun Kong Insurance (SMK) from United Kingdom-based insurance group Royal & Sun Alliance Insurance for THB1.89 billion (approximately US$57.5 million). LeapFrog and Lombard each… Read More
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